Stocks In News: M, WINT, JD
2:15 pm Tuesday, August 23rd, 2022
Though an earnings beat like the kind Macy’s (NYSE:M) printed on Tuesday usually generates buzz, all eyes tend to focus on the forward guidance. Here, the company downgraded expectations for the full year, which ordinarily might sink M stock. However, Wall Street appears to have accepted the reality of the new normal. With eroding consumer sentiment impacting multiple sectors, it’s no longer feasible to hold onto old paradigms. For the second quarter, Macy’s posted adjusted earnings of $1 a share. Heading into the financial disclosure, covering analysts anticipated earnings of 86 cents. On the top line, the company rang up sales of $5.6 billion. This tally exceeded the consensus target of $5.49 billion by 2%.
Windtree Therapeutics (NASDAQ:WINT) is one of the biggest stock movers on Tuesday after announcing a new global licensing agreement for AEROSURF. AEROSURF is the company’s treatment for preterm infants with respiratory distress syndrome and may have other applications. The agreement is signed is with Lee’s Pharmaceutical as well as its affiliate Zhaoke Pharmaceutical.
After much speculation about how China-based e-commerce firm JD.com (NASDAQ:JD) would fare following pandemic protocols, investors are breathing a small sigh of relief today. The company brought home a robust earnings and revenue beat in the second quarter, sending JD stock higher. Wall Street credited the company for persevering under difficult circumstances. However, some cracks in JD’s armor have also materialized. On paper, the e-commerce company reported adjusted income of 61 cents per share. Covering analysts heading into the Q2 disclosure anticipated earnings per share (EPS) of 41 cents. On the top line, JD also rang up $40 billion in revenue. That exceeded Wall Street’s consensus target of $38.5 billion.
