Dick’s Sporting Goods, Nordstrom, Wendy’s and more

Cars are seen parked in front of Dick’s Sporting Goods store at Monroe Marketplace in Pennsylvania.

Paul Weaver | SOPA photos | Light Rocket | Getty Images

Check out which companies are making the headlines at midday Wednesday.

Dick’s Sporting Goods — Shares of the sporting goods retailer jumped 9.7%, despite the company cutting its forecast for the year, after the retailer beat earnings and revenue estimates for its fiscal first quarter. Dick CEO Lauren Hobart said she was confident the company would be able to “adapt quickly” to uncertain macroeconomic conditions.

Express – Shares rose 6.7% after the apparel retailer reported better-than-expected quarterly results. Express lost 10 adjusted cents per share. That’s narrower than the loss of 15 cents a share that analysts had expected, according to Refinitiv. Revenue also beat consensus expectations, and Express raised its comparable sales forecast for the full year.

Wendy’s — The fast-food chain rose 9.8% after a filing revealed Wendy’s largest shareholder, Trian, was exploring a potential deal with the company. Trian and its partners own a 19.4 percent stake in the burger chain and said it is seeking a “shareholder value enhancement” deal that could include an acquisition or merger.

Dell Technologies – Shares rose 5.9% after Evercore added PC maker Evercore to its “Tactical Outperform” list. Dell is due to report earnings on Thursday.

Nordstrom — Shares of the department store rose 14% after the company reported fiscal first-quarter sales that came before analysts’ estimates. Nordstrom also raised its full-year financial outlook, indicating momentum in the business.

Intuit – Shares jumped 8.2% after the tax software company beat earnings expectations and raised its forecast for the current quarter. Intuit also got a boost from the solid performance of some of its brands, including Credit Karma.

Toll Brothers — Shares of the home builder rose nearly 8% after Toll Brothers beat expectations for its fiscal second quarter. The company reported earnings of $1.85 per share on $2.19 billion in sales. Analysts polled by Refinitiv expected $1.54 per share on $2.06 billion in sales. Toll CEO Douglas Yearley said in a statement that demand has eased over the past month but still looks good in the long-term.

Urban Outfitters – Urban Outfitters rose 15.5% despite a weaker-than-expected first quarter report. Like other retailers, Urban Outfitters has highlighted the negative impact of inflation on its operations including higher costs for raw materials and transportation.

Porsche Group – Shares jumped 5.7% after Compass Point began coverage of the real estate technology company with a buy rating. The company said Porsche had a “unique business model”.

Diamondback Energy – Energy stock increased 4.4% after Barclays upgraded the Diamondback to an overweight of the same weight. Barclays said it sees an “increase in cash yield” for Diamondback in the second half of the year.

– CNBC’s Jesse Pound, Yoon Lee, Tanya Machel, and Sarah Min contributed reporting.

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