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Stock futures are little changed after Dow posts worst session since March 2023: Live updates – CNBC

55 minutes ago

Apparel and shoe sales showing signs of recovery

Despite many retailers talking about headwinds in discretionary spending, apparel and footwear brands appear to be defying the odds this season.

In its earnings report this afternoon, Ross Stores reported that same-store sales rose 3% in the most recent quarter, in line with both the company’s guidance and Wall Street expectations. This comes after many apparel companies reported strong same-store sales, including Ralph Lauren, up 6%, Urban Outfitters, up 2.6%, and TJX, up 3.5%. Even Target noted that its overall sales were down, but that apparel was a bright spot.

Meanwhile, HOKA and UGG sales beat expectations, and Deckers reported big earnings and revenue gains this afternoon, with total revenue up 21% compared to the same period last year, while Shoe Carnival reported a 6% sales increase earlier this morning, beating the company’s expectations and beating analysts’ predictions.

Robert Ham

1 hour ago

Stock market moves significantly in after-hours trading

Let’s take a look at some companies that are garnering attention in extended trading.

  • Ross Stores – Shares of the discount clothing retailer rose 7%. Ross Stores reported first-quarter earnings of $1.46 per share on revenue of $4.86 billion. Analysts surveyed by LSEG were expecting earnings of $1.35 per share and revenue of $4.83 billion.
  • Workday — Shares of the enterprise management company fell 10% after the company’s subscription revenue guidance fell short of Wall Street expectations. Workday now expects second-quarter subscription revenue guidance of $1.895 billion, compared to the consensus estimate of $1.9 billion, according to StreetAccount.
  • Intuit – The TurboTax owner fell 7% after giving a soft outlook for the current quarter. Intuit Fourth Quarter Adjusted Profit The company had expected earnings of $1.80 to $1.85 a share, compared with $1.92 per share expected by analysts surveyed by FactSet, but the company’s third-quarter results beat market expectations on both sales and profits.

See the complete list here.

Brian Evans

1 hour ago

Coinbase surges in after-hours trading as SEC opens door to Ethereum ETF

Coinbase rose 5% in after-hours trading after the U.S. Securities and Exchange Commission approved rule changes that pave the way for an ETF that buys and holds Ethereum. Robinhood rose 2%.

While both companies offer cryptocurrency trading, Coinbase may stand to gain more from the introduction of an Ethereum ETF as it offers other crypto services such as custody and staking, as well as a wider selection of tradable assets. Coinbase also operates a blockchain called Base, which is built on the Ethereum network.

Ethereum prices were up just 2% on Thursday evening, after rising more than 20% in two days earlier this week on investor optimism over the SEC decision and now on track for its strongest week in more than a year.

Read more about how an Ethereum ETF could benefit Coinbase on CNBC Pro.

— Tanaya Maciel and Jesse Pound

1 hour ago

Stock futures were little changed on Thursday

Stock futures were little changed on Thursday as all three major indexes ended regular trading lower, with the Dow Jones Industrial Average posting its worst close since March 2023.

Futures for the 30-stock Dow Jones Industrial Average fell 4 points, or 0.01%, while S&P 500 futures rose 0.03% and Nasdaq 100 futures fell 0.05%.

Brian Evans

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