Midday Stock Movers: Dollar Tree, Kraft Heinz, GameStop

  • Investing.com
  • Stock Market News
Midday Stock Movers: Dollar Tree, Kraft Heinz, GameStop

By Sam Boughedda

Investing.com -- US equities are gaining Thursday with the Nasdaq the biggest mover at +2.31%. Here are your midday movers on Thursday, May 26th.

  • Alibaba Group ADR's (NYSE: BABA ), the Chinese e-commerce giant, is up 13.4% after it beat forecasts for its latest quarterly earnings and revenue. Its results were helped by online demand due to Covid-related lockdowns in China.
  • GameStop (NYSE: GME ) shares jumped in early Thursday trading, with the stock currently 10% higher, despite Wedbush analysts maintaining an Underperform rating on the stock.
  • Dollar Tree (NASDAQ: DLTR ) beat analyst consensus estimates when it reported first-quarter earnings before the bell. In addition, the discount store operator raised its full-year sales outlook, sending its shares 19% above Wednesday's close.
  • Another discount store company, Dollar General (NYSE: DG ), also topped earnings and revenue expectations, sending its shares 12% higher. Comparable store sales fell less than anticipated, and the company raised its same-store sales guidance.
  • Macy’s (NYSE: M ) stock has jumped 12% after the department store increased its full-year profit expectations as the company adds to the current trend of retailers experiencing strong apparel demand with consumers returning to work and attending social events.
  • Baidu Inc (NASDAQ: BIDU ) is trading 12% higher midday Thursday after it topped first-quarter expectations, helped by its cloud services and artificial intelligence products.
  • Kraft Heinz Co (NASDAQ: KHC ) stock has tumbled 7% after the stock was downgraded to Sell from Neutral at UBS. Analyst Cody Ross also cut the firm's price target on the stock to $34 from $40, stating the company is dealing with high inflationary pressures.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100