Burlington Coat Factory's parent company, Burlington Coat Factory (BURL), saw its stock soar after the company announced fourth-quarter profit and sales that beat expectations.
Discount retailer Big Lots (BIG) posted a bigger-than-expected bottom line loss for the fourth quarter.
Jefferies analysts believe Pinterest (PINS) has “multiple ways to win” in 2024.
For more expert insights and the latest market trends, click here to watch the full episode of Yahoo Finance Live.
Editor's note: This article was written by luke carberry morgan.
video transcript
– As investors await Fed Chairman J. Powell's semi-annual testimony before the Senate and investors look to Jay Powell for clarity and further clues on when to cut interest rates, three major stocks Both have good prospects.
– Looking at some of the individual trend tickers, first, Burlington's stock is down just about 8.5%, and fourth-quarter profit and sales beat The Street's expectations. The retailer also saw improved gross margins while inventory levels declined.
– And Big Lots' stock actually turned around and moved higher this morning, putting it in the red. Currently up about 6%, the discount retailer reported disappointing quarterly results as its quarterly net loss widened further to $30.7 million.
But CEO Bruce Thorne remains optimistic. Mr. Thorne sees a path toward positive comparable sales and expects gross margin improvement to continue throughout the year.
– And Pinterest is rising, with Jefferies saying he would buy the recent stock slump. We're looking at a return of just over 1%. Analysts there have now reiterated a buy rating on the stock, saying they see the potential for full-year sales growth of 20% this year. Again, Pinterest trades at just around $35 per share for him.