GameStop extended the previous week's losses. Nvidia traded after a 10-to-1 stock split. KKR, GoDaddy, and CrowdStrike are set to replace Comerica, Illumina, and Robert Half in the S&P 500 index. 

U.S. Movers: GameStop, Vail Resorts

Jun 7, 2024
Scott Peters
GameStop, the video game retailer and the focus of meme stock investors, reported a narrower loss and announced another secondary offering. Vail Resorts reported weaker-than-expected quarterly sales and earnings.

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Lululemon advanced after the athleisure retailer reported better-than-expected revenue and earnings in the first quarter. Five Below's current quarter sales outlook fell short of market expectations. 

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The cyber security company CrowdStrike reported better-than-expected quarterly results and issued strong guidance. Deere & Co. said it plans to trim its salaried and production workforce. Hewlett-Packard reported better-than-expected fiscal second quarter results.

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Intel announced the release of new artificial intelligence chips as the company played catch with rivals Nvidia and AMD. Bath & Body Works' current quarter guidance fell short of market expectations.

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Waste Management agreed to acquire Stericycle for $7.2 billion. Spotify said it plans to increase the premium subscription price in the U.S. starting in July. MarineMax is in advanced talks to be acquired by OneWater Marine. 

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Dell Technologies highlighted margin pressures. Gap reported quarterly sales rose and net income swung to a profit. MongoDB issued a cautious second quarter and annual outlook. Nordstrom is looking to take the retailer private. 

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Department store chain Kohl's reported an unexpected loss in the first quarter and cut its annual outlook as consumers avoided discretionary items. Best Buy said its effort to cut costs supported the quarterly earnings, despite sales weakness. 

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ConocoPhillips agreed to acquire Marathon Oil in an all-stock deal and increase its shale oil production capacity. Abercrombie & Fitch reported sharply higher earnings and sales as customers returned to its stores in droves.

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GameStop raised more than $934 billion through a secondary equity offering. Elliott Management acquired a stake in Texas Instruments and urged the company to take a more flexible approach to its capital spending plan. T-Mobile U.S. agreed to acquire the wireless and spectrum assets of U.S. Cellular. 

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Nvidia reported a surge in revenue and earnings and estimated current quarter revenue ahead of market expectations. The artificial intelligence chipmaker also announced a stock split. VF Corp. unexpectedly swung to a quarterly loss. 

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Target Corp. reported weaker-than-expected earnings and indicated weakening trends in discretionary item sales. Toll Brothers revised its annual home delivery estimate higher after exceeding earnings and sales expectations in its latest quarter.

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AutoZone reported better-than-expected quarterly earnings, but revenue fell short of market expectations. Macy's reported better-than-expected quarterly results and lifted its annual outlook. Lowe's said comparable same-store sales declined in the latest quarter. 

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GameStop announced its plans to sell 45 million shares in a secondary offering. Take Two Interactive reported a sharp rise in its quarterly loss.

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Walmart reported better-than-expected quarterly earnings and lifted its annual outlook after Sam's Club and global advertising units showed strength. Cisco Systems reported the largest decline in revenue in more than a decade. Deere & Co. lowered its annual sales outlook. 

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