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M May 2024 14.000 call
| Previous close | 5.70 |
| Open | 5.64 |
| Bid | 4.45 |
| Ask | 7.60 |
| Strike | 14.00 |
| Expiry date | 2024-05-17 |
| Day's range | 5.48 - 5.67 |
| Contract range | N/A |
| Volume | |
| Open interest | 687 |
- Yahoo Finance Video
Lowe's and Macy's earnings, FDIC chair resigns: Morning Brief
The Morning Brief Co-Hosts Seana Smith and Brad Smith are watching markets (^DJI, ^IXIC, ^GSPC) this morning as the major averages search for direction Tuesday morning. Retailers Macy's (M) and Lowe's (LOW) reported earnings beats for their first quarters this morning, each revealing something about US consumer spending in respective retail categories. Charles Schwab Chief Investment Strategist Liz Ann Sonders breaks down Wall Street's expectations for Nvidia's (NVDA) earnings tomorrow and the future for interest rate cuts by the Federal Reserve. Amer Sports (AS) CFO Andrew Page sits down with Yahoo Finance to talk about how consumers are flocking to the company's more "premium" apparel brands in its portfolio. FDIC (Federal Deposit Insurance Corporation) Chair Martin Gruenberg has resigned from his position after Congressional inquiries into reports of sexual misconduct and a toxic environment at the agency and pressure by lawmakers to step down. This post was written by Luke Carberry Mogan.
- Yahoo Finance Video
Macy's earnings top estimates, raises full-year outlook
Macy's reported first quarter results that topped Wall Street estimates on both the top and bottom lines. The retailer also raised its full-year guidance. Morningstar equity analyst David Swartz says the quarter was "a little bit better than expected," but he notes that expectations were low and the comparable sales were favorable. Swartz says one of the big issues Macy's (M) needs to address is operating costs, arguing that it needs to reduce costs and boost sales. He thinks Macy's will need to close more stores, but that it will take more time for CEO Antony Spring to put his turnaround plan into place. When it comes to the $24 per share takeover offer from Arkhouse Management and Brigade Capital Management, Swartz notes that his fair value estimate is $25, so the offer is "reasonable." He doesn't think Macy's wants to sell, but thinks the company should sell "if the offer is strong enough." For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Stephanie Mikulich.
Barrons.comMacy’s Tops Earnings Estimates. Its New Turnaround Plan Starts to Pay Off.
Macy’s fiscal first-quarter sales dipped from a year ago, but earnings barreled through Wall Street’s expectations as the company’s turnaround plan starts “gaining traction.” Adjusted earnings of 27 cents a share were ahead of consensus estimates for 16 cents a share, according to FactSet. Macy’s shares ticked up 0.5% to $19.20 in early morning trading Tuesday.
