Key insights
- Macy's raised its sales outlook, indicating success in its luxury and assortment strategies. GameStop reported record quarterly profit driven by its collectibles business, with overall sales up 14%. Palo Alto Networks beat earnings expectations and raised its full-year forecast, but its stock fell due to unmet elevated buy-side expectations after a significant year-to-date rally. These individual company performances offer mixed signals for the broader market.
On this episode of Stock Movers with John Tucker:- Macy's (M) shares are on the move after it lifted its sales outlook for the year, a sign that the company's focus on growing its luxury business and improving its assortment is paying off. - GameStop (GME) shares are climbing after the video-game retailer reported a record quarterly profit driven by its collectibles business. Sales overall climbed 14% to $835.3 million. Net income of $389.6 million was the highest ever for a quarter in the company's history, GameStop said in a regulatory filing Tuesday.- Palo Alto (PANW) shares are dropping as the security software company reported results following a 61% year-to-date rally. The company reported third-quarter results that beat the average analyst expectation and raised its full-year forecast for key metrics, but failed to meet elevated buyside expectations.