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M May 2024 14.000 put
| Previous close | 0.3000 |
| Open | 0.3000 |
| Bid | 0.0000 |
| Ask | 2.1900 |
| Strike | 14.00 |
| Expiry date | 2024-05-31 |
| Day's range | 0.3000 - 0.3000 |
| Contract range | N/A |
| Volume | |
| Open interest | 1 |
- 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.
Yahoo FinanceMacy's beats lowly Q1 estimates, as it weighs a future between a turnaround or a buyout
Macy’s recorded another quarter of sales declines, but not as much as Wall Street feared.
- Yahoo Finance Video
Macy's earnings, Fedspeak: What to Watch
As the trading day draws to a close, here's what's in store for tomorrow, Tuesday, May 21. Earnings season continues with several notable companies scheduled to report their quarterly results. Among them are retailers Lowe's (LOW), Macy's (M), and Urban Outfitters (URBN), whose results will all provide valuable insights into the state of the consumer. Additionally, commentary from various Federal Reserve officials, including New York Fed President John Williams and Fed Vice Chair for Supervision Michael Barr, are expected to shed light on the central bank's outlook on monetary policy. For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Angel Smith
