Abercrombie & Fitch
Abercrombie posted a big drop in sales during its holiday quarter. The teen retailer said a strong dollar and weak demand for its logo-centric clothing weighed on its fourth quarter results. Its same-store sales also slumped. That sent shares way down, off 15.5 percent to $20.27.
Another teen retailer’s earnings told the opposite story. American Eagle managed to beat on both the top and bottom lines as fewer promotions and improved merchandise helped lift revenues. The company also started experimenting with one-size-fits-all clothing, which helped it stand out. The stock popped more than seven percent to $15.96.
Bristol-Myers Squibb saw its shares rally after securing FDA approval on a key drug. As of today, one of the drug maker’s treatments is the first approved to treat lung cancer. Shares popped about six percent to $65.67.
A senator has called for the federal government to investigate Lumber Liquidators. This comes in response to a report on CBS’s “60 minutes” that alleged some of the company’s flooring products contain higher-than-accepted levels of a known carcinogen, a charge the company disputes. The stock slumped, down more than 12.5 percent to $35.64.
Wayfair impressed the Street with its quarterlies. The online seller of home furnishings saw revenues soar in the fourth quarter, driven by customer growth. It also gave upbeat guidance for the current quarter. The stock surged 14.5 percent to $28.90.
Apple & HBO
Apple and HBO are reportedly in talks to team up. HBO is gearing up for its highly anticipated HBO video-streaming service and Apple might be its partner. But no details yet on how Apple would be involved. The service is expected to launch next month giving customers access to h-b-o with only a broadband connection. Shares of Apple were off a fraction to $128.54. Time Warner, the parent of HBO also fell a few cents to $83.08
Shares of Netlix fell today after the company told a Morgan Stanley tech and media conference that it sees some slowing in subscriber growth. The stock fell one percent to $469.77.