Hot Stocks to Watch in the U.S. and Canada
August 18 2017 - 9:58AM
Dow Jones News
Among the companies with shares expected to trade actively in
Monday's session are Deere & Co. (DE), Foot Locker Inc. (FL)
and Estee Lauder Cos. (EL).
Deere reported a top-line miss Friday morning, sending shares
down 6.4% premarket to $123.90, as challenges in the farming
industry weigh on sales growth in the U.S. and Canada. Deere said
the farm and construction equipment market grew stronger during the
quarter on increased demand in South America, helping boost farm
machinery and construction equipment sales.
Estee Lauder shares rose 4.1% premarket on the release of its
fourth-quarter report, which beat analyst expectations partly on
skin-care sales. Estee Lauder also forecasted revenue in the
current fiscal year ahead of expectations.
Foot Locker followed its athletic-wear store peers in reporting
far worse than expected same-store sales in its latest quarter, a
sign that the athleisure market may be running out of steam. The
key industry metric, which measures sales in stores open at least a
year, slid 6% compared with the 1.7% growth forecasted by Consensus
Metrix. The figure is Foot Locker's first negative comparison since
2009, according to Citi Research. Shares in Foot Locker fell 21% to
$37.65 in premarket trading.
Shares in Nike Inc. (NKE) and Under Armour Inc. (UA) also slid
premarket on concerns about weakness in the athletic-wear sector.
Nike shares were down 4.2% and Under Armour shares fell 2.3% ahead
of the market's open.
Two Tenet Healthcare Corp. (THC) board members, who represent
the company's largest institutional shareholder, have resigned from
their posts, citing "irreconcilable differences" over significant
matters involving the company. The resignations set up a possible
proxy fight. Shares rise 3.7% to $13.12.
Write to Justina Vasquez at justina.vasquez@wsj.com
(END) Dow Jones Newswires
August 18, 2017 09:43 ET (13:43 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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