Nordstrom (NYSE:JWN) Stock, Quote.Headers.trade-ideas

Nordstrom

Nordstrom is a fashion retailer that operates about 93 department stores and more than 260 off-price Nordstrom Rack stores. The company also operates both full- and off-price e-commerce sites, two clearance stores, and seven Local locations. Nordstrom's largest merchandise categories are women's apparel (27% of 2023 sales), shoes (26% of 2023 sales), men's apparel (15% of 2023 sales), and beauty (13% of 2023 sales). Nordstrom, which traces its history to a shoe store opened in Seattle in 1901, continues to be partially owned and managed by members of the eponymous family.

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Nordstrom shares rise on news of acquisition by founding family and El Puerto de Liverpool. Goldman Sachs analyst comments on valuation and forecasts EPS.

What&#39;s Going On With Nordstrom Shares Thursday?

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Nordstrom Inc (NYSE:JWN) shares are bouncing around Wednesday morning after the Nordstrom founding family made an offer to take the company private.

Nordstrom Stock Volatile After Founding Family Offers To Take Department Store Private

Nordstrom Inc

Nordstrom, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JWN#NYSE">JWN</a>) shares are trading higher on Thursday. Goldman Sachs analyst Brooke Roach comments on the recent news of Nordstrom&#8217;s acquisition proposal by the Nordstrom family and El Puerto de Liverpool.
On Wednesday, the Nordstrom founding family made an offer to&nbsp;take the company private by acquiring all outstanding shares they do not already <a target="_blank" href="https://www.benzinga.com/news/24/09/40707836/nordstrom-stock-volatile-after-founding-family-offers-to-take-department-store-private" rel="noreferrer noopener">own for $23 per share in cash</a>.
The Nordstrom family group reportedly sent a non-binding letter to the special committee proposing a transaction that involves forming a new entity to buy the department store chain.
The Nordstrom family had earlier made attempts&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/03/37826028/nordstrom-stock-pops-as-founding-family-looks-to-take-retailer-private-the-details" rel="noreferrer noopener">to take the company private.</a>
The recent effort comes about six years after the founding family&#8217;s&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/18/03/11398292/nordstrom-terminates-go-private-talks-now-what" rel="noreferrer noopener">previous attempt</a>&nbsp;to take the U.S. department store operator&nbsp;private.
The analyst writes that real estate value is a key consideration, as evidenced by past department store transactions, such as the recently ended talks between Macy&#8217;s <a target="_blank" href="https://www.benzinga.com//node/39773198" rel="noreferrer noopener">and an investor buyout group.</a>
The analyst forecasts EPS of $1.98 in FY25, $2.05 in FY26, and $2.09 in FY27.
Last month, Nordstrom reported quarterly earnings of 96 cents per share, which beat the analyst <a target="_blank" href="https://www.benzinga.com/news/earnings/24/08/40588492/nordstrom-stock-rallies-on-strong-q2-earnings-details" rel="noreferrer noopener">consensus estimate of 71 cents by 35.21%</a>.
Investors can gain exposure to the stock via Invesco Exchange-Traded Fund Trust II Invesco S&amp;P Ultra Dividend Revenue ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDIV#NYSE">RDIV</a>) and Invesco S&amp;P Midcap 400 Pure Value ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RFV#NYSE">RFV</a>).
Price Action: JWN shares are up 0.24% at $22.84 at the last check Thursday.
Photo via Shutterstock
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

What's Going On With Nordstrom Shares Thursday?

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page.
<ul>
<li><a href="https://widgets.benzinga.com/analyst-stock-ratings/analyst/58bff743b85e930001906473/steven-cahall">Wells Fargo analyst Steven Cahall</a> upgraded the rating for Roku, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>) from Underweight to Equal-Weight and raised the price target from $50 to $72. Roku shares fell 2.6% to close at $63.55 on Thursday. <a href="https://www.benzinga.com/quote/ROKU/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Barclays analyst Paul Kearney upgraded Nordstrom, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JWN#NYSE">JWN</a>) from Underweight to Equal-Weight and boosted the price target from $18 to $23. Nordstrom shares fell 0.2% to close at $22.78 on Wednesday. <a href="https://www.benzinga.com/quote/JWN/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Wedbush analyst Jay McCanless upgraded Beazer Homes USA, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BZH#NYSE">BZH</a>) from Neutral to Outperform and increased the price target from $41 to $45. Beazer Homes shares fell 0.1% to close at $29.83 on Wednesday.<a href="https://www.benzinga.com/quote/BZH/analyst-ratings"> See how other analysts view this stock.</a></li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58aed4dab85e9300013bf4d1/ryan-macdonald">Needham analyst Ryan MacDonald</a> upgraded the rating for Yext, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YEXT#NYSE">YEXT</a>) from Hold to Buy and announced a price target of $8. Yext shares gained 2.3% to close at $4.92 on Wednesday. <a href="https://www.benzinga.com/quote/YEXT/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Keefe, Bruyette &amp; Woods analyst Christopher Mcgratty upgraded Comerica Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMA#NYSE">CMA</a>) from Market Perform to Outperform and increased the price target from $50 to $69. Comerica shares fell 1.8% to close at $54.83 on Wednesday. <a href="https://www.benzinga.com/quote/CMA/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Considering buying JWN stock? Here&#8217;s what analysts think:
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="470" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/05083120/image-1-8-1024x470.png" alt="" class="wp-image-531884" style="width:625px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/05083120/image-1-8-1024x470.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/05083120/image-1-8-300x138.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/05083120/image-1-8-768x353.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/05083120/image-1-8.png 1440w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>

Barclays analyst Paul Kearney upgrades Nordstrom (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JWN#NYSE">JWN</a>) from Underweight to Equal-Weight and raises the price target from $18 to $23.

Price Target

Barclays Upgrades Nordstrom to Equal-Weight, Raises Price Target to $23

Nordstrom Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JWN#NYSE">JWN</a>) shares are bouncing around Wednesday morning after the Nordstrom founding family made an offer to <a href="https://www.benzinga.com/pressreleases/24/09/n40705951/special-committee-of-nordstrom-board-confirms-receipt-of-going-private-transaction-proposal-from-n">take the company private</a>.
What Happened: Nordstrom has confirmed receipt of a proposal from Erik Nordstrom, Pete Nordstrom, other members of the Nordstrom family and El Puerto de Liverpool to acquire all outstanding shares they do not already own for $23 per share in cash.
Nordstrom&#8217;s board had formed a special committee of independent directors to evaluate any potential proposals in April, per Reuters. The special committee said it will review the proposal in consultation with independent financial and legal advisors to determine the best path forward for shareholders. 
The Nordstrom family group reportedly sent a non-binding letter to the special committee proposing a transaction that involves forming a new entity to buy the department store chain. 
The news comes on the back of strong <a href="https://www.benzinga.com/news/earnings/24/08/40588492/nordstrom-stock-rallies-on-strong-q2-earnings-details">second-quarter earnings</a> last week. The stock popped about 8% after the company beat bottom-line estimates and multiple analyst firms raised price targets. Nordstrom shares are up about 23.5% year-to-date.
See Also: <a href="https://www.benzinga.com/news/earnings/24/09/40705415/dollar-tree-q2-earnings-revenue-and-eps-miss-cuts-annual-forecasts-as-customers-feel-macro-pressure">Dollar Tree Q2 Earnings: Revenue And EPS Miss, Cuts Annual Forecasts As Customers Feel Macro Pressure On Spending, Stock Tumbles</a>
JWN Price Action: <a href="http://benzinga.com/quote/jwn">Nordstrom shares</a> initially traded down near the $22 level when the go-private offer was announced before bouncing back. The stock was up 0.31% at $22.89 at the time of publication, per <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: courtesy of Nordstrom.

Anne E. Gittinger Reports 9.4% Stake In Nordstrom As Of Sept 3; Erik And Peter Nordstrom To Engage In Talks With Special Committee On Potential $23/Share Going Private Deal​

JP Morgan analyst Matthew Boss maintains Nordstrom (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JWN#NYSE">JWN</a>) with a Underweight and raises the price target from $19 to $20.

JP Morgan Maintains Underweight on Nordstrom, Raises Price Target to $20

Nordstrom (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jwn#NYSE">JWN</a>) came out with quarterly earnings of $0.96 per share, beating the Zacks Consensus Estimate of $0.74 per share. This compares to earnings of $0.84 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 29.73%. A quarter ago, it was expected that this department store operator would post a loss of $0.08 per share when it actually produced a loss of $0.24, delivering a surprise of -200%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Nordstrom, which belongs to the Zacks Retail - Apparel and Shoes industry, posted revenues of $3.89 billion for the quarter ended July 2024, surpassing the Zacks Consensus Estimate by 1.15%. This compares to year-ago revenues of $3.77 billion. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock&#39;s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management&#39;s commentary on the earnings call.
Nordstrom shares have added about 17.5% since the beginning of the year versus the S&amp;P 500&#39;s gain of 17.8%.
<h2>What&#39;s Next for Nordstrom?</h2>
While Nordstrom has underperformed the market so far this year, the question that comes to investors&#39; minds is: what&#39;s next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company&#39;s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Nordstrom: mixed. While the magnitude and direction of estimate revisions could change following the company&#39;s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.26 on $3.28 billion in revenues for the coming quarter and $1.77 on $14.73 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Retail - Apparel and Shoes is currently in the bottom 34% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Vera Bradley (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vra#NASDAQ">VRA</a>), another stock in the same industry, has yet to report results for the quarter ended July 2024. The results are expected to be released on September 11.
This handbag and accessories company is expected to post quarterly earnings of $0.31 per share in its upcoming report, which represents a year-over-year change of -6.1%. The consensus EPS estimate for the quarter has been revised 15.2% lower over the last 30 days to the current level.
Vera Bradley&#39;s revenues are expected to be $120.53 million, down 6% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2327929/nordstrom-jwn-beats-q2-earnings-and-revenue-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_4-2327929">To read this article on Zacks.com click here.</a>

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Nordstrom Beats Q2 Earnings and Revenue Estimates

Telsey Advisory Group analyst Dana Telsey maintains Nordstrom (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JWN#NYSE">JWN</a>) with a Market Perform and raises the price target from $23 to $24.

Telsey Advisory Group Maintains Market Perform on Nordstrom, Raises Price Target to $24

Wall Street faces a wave of risk-off sentiment on Wednesday, as traders adopt a cautious stance ahead of NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) earnings, which are set to be released <a href="https://www.benzinga.com/trading-ideas/24/08/40604296/nvidias-next-earnings-report-could-swing-its-market-cap-by-300-billion-and-increase-the-s-p-500-gai">after the market close.</a>
At midday trading in New York, all major equity indices were in the red, weighed down by broad declines in chipmakers and tech stocks.
The iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>) fell 2%, underperforming the broader tech-heavy Nasdaq 100, down 1.1%. 
The CBOE Volatility Index or VIX, a key barometer of the fear in the market, rose 8%. 
As the last of the Magnificent Seven megacaps to report earnings, Nvidia&#8217;s results are viewed as a crucial indicator of whether the recent market rebound has more room to run, potentially pushing toward new all-time highs, or if it&#8217;s time for investors to dial back risk.
Key metrics to watch include whether Nvidia surpasses the projected $28.7 billion in quarterly revenue — a staggering 156% increase from the same quarter last year — and $0.645 earnings per share, more than triple from the same period in 2022. 
Nvidia&#8217;s forward guidance will also be critical, as investors seek insight into the demand for its leading AI-related chips and any challenges posed by China.
In a significant achievement during Wednesday&#8217;s session, Warren Buffett&#8217;s Berkshire Hathaway Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) reached <a href="https://www.benzinga.com/top-stories/24/08/40604676/warren-buffetts-berkshire-hathaway-breaks-1-trillion-poll-points-to-big-pharma-not-tech-as-next-cont">the milestone of a $1 trillion market valuation.</a>
The U.S. dollar is showing a modest recovery, up 0.4% after closing Tuesday at its lowest level since July 2023. Treasury yields remain stable, while gold is struggling, down 0.6%, with silver experiencing a sharper 2% decline.
Oil prices continue to fall, with WTI crude down 1.3%, as traders unload the risk premium amid easing geopolitical tensions in the Middle East and less concerning Libyan production disruptions than initially feared.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) remains under pressure, down 1% to $58,850, following a more than 7% decline over the past two sessions.
<h1 class="wp-block-heading">Wednesday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>Chg %</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>41,053.09</td>
<td>-0.5%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,592.49</td>
<td>-0.6%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,191.39</td>
<td>-0.6%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,362.15</td>
<td>-1.1%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:10 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent082824&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.7% down to $557.94.</li>
<li>The SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) eased down 0.4% to $411.11.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) declined 1.2% to $470.98.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.7% to $217.34.</li>
<li>The Financials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) outperformed, up by 0.2%. The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) lagged, down by 1.5%.</li>
</ul>
<h1 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h1>
<ul>
<li>Super Micro Computer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NYSE">SMCI</a>) plunged 26% after announcing it won&#8217;t meet the deadline to file its annual Form 10-K for the fiscal year ended June 30. This comes just a day after short-seller <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40606308/super-micro-computer-short-report-shows-limited-evidence-of-accounting-wrongdoing-a">Hindenburg Research released</a> a report accusing the company of accounting manipulation.</li>
<li>Other crypto-related stocks weakened, with CleanSpark Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLSK#NASDAQ">CLSK</a>), Coinbase Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), Marathon Digital Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) down 5.3%, 4.7% and 4.6% respectively. </li>
<li>Chewy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHWY#NYSE">CHWY</a>) rallied 14% in reaction to its upbeat quarterly earnings.</li>
<li>Other stocks reacting to company earnings were Abercrombie &amp; Fitch Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANF#NYSE">ANF</a>) down 17%, Ambarella Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMBA#NASDAQ">AMBA</a>) up 9%, Bath &amp; Body Works, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBWI#NYSE">BBWI</a>) down 6%, Box Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOX#NYSE">BOX</a>) up 7.5%, Donaldson Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DCI#NYSE">DCI</a>) down 4.3%, Foot Locker Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FL#NYSE">FL</a>) down 12%, Nordstrom Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JWN#NYSE">JWN</a>) up 4%, PVH Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PVH#NYSE">PVH</a>) up 6.6%, SentinelOne Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/S#NYSE">S</a>) down 2% and J.M. Smucker Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>) down 5.8%.</li>
<li>Companies reporting after the close included Nvidia Corp., Salesforce Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>), CrowdStrike Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>), HP Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPQ#NYSE">HPQ</a>), Veeva Systems Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VEEV#NYSE">VEEV</a>), NetApp Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTAP#NASDAQ">NTAP</a>), Pure Storage Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSTG#NYSE">PSTG</a>), Cooper Companies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COO#NASDAQ">COO</a>), Okta Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OKTA#NASDAQ">OKTA</a>), Nutanix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTNX#NASDAQ">NTNX</a>), Affirm Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>), Five Below Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVE#NASDAQ">FIVE</a>) and Victoria Secret &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VSCO#NYSE">VSCO</a>).</li>
</ul>
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<li><a href="https://www.benzinga.com/markets/equities/24/08/40604424/10-etfs-poised-for-wild-swings-following-nvidia-earnings">10 ETFs Poised For Wild Swings Following Nvidia Earnings</a> Don&#8217;t miss the opportunity to dominate in a volatile market at the <a href="https://www.benzinga.com/events/small-cap/global-small-cap-conference-2024/" target="_blank" rel="noreferrer noopener">Benzinga SmallCAP Conference</a> on Oct. 9-10 at the Chicago Marriott Downtown Magnificent Mile. Get exclusive access to CEO presentations, 1:1 meetings with investors and valuable insights from top financial experts. Whether you&#8217;re a trader, entrepreneur or investor, this event offers unparalleled opportunities to grow your portfolio and network with industry leaders. Secure your spot and get your tickets today! Photo: Shutterstock</li>
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US Stocks, Chipmakers Fall Ahead Of Nvidia Earnings, Berkshire Hits $1 Trillion, Super Micro Computer Sinks: What's Driving Markets Wednesday?

Shares of Nordstrom Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JWN#NYSE">JWN</a>) climbed in early trading on Wednesday, after the company reported <a href="https://www.benzinga.com/24/08/40594768/why-nordstrom-shares-are-trading-higher-by-around-8-here-are-20-stocks-moving-premarket">upbeat second-quarter earnings</a>.
The company reported its results amid an <a href="https://www.benzinga.com/earnings">exciting earnings season</a>. Here are some key analyst takeaways.
<ul>
<li>Telsey Advisory Group <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5888c53977f9dd0001877a22/dana-telsey">analyst Dana Telsey</a> reiterated a Market Perform rating, while raising the price target from $23 to $24.</li>
<li>Goldman Sachs <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/60eef53155f722000105d101/brooke-roach">analyst Brooke Roach</a> maintained a Neutral rating, while lifting the price target from $19 to $21.</li>
<li>JPMorgan <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/586bcbd9351b9b0001ab738c/matthew-boss">analyst Matthew Boss</a> reaffirmed an Underweight rating, while raising the price target from $19 to $20.</li>
<li>BMO Capital Markets <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/583f220faae83900016b3aee/simeon-siegel">analyst Simeon Siegel</a> maintained a Market Perform rating, while lifting the price target from $20 to $22.</li>
<li>KeyBanc Capital Markets analyst Ashley Owens reiterated an Overweight rating and price target of $24.</li>
</ul>
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
Telsey Advisory Group: Nordstrom reported adjusted earnings of 96 cents per share, surpassing the consensus estimate of 71 cents per share thanks to better gross margins, despite an increase in expenses. Gross margins expanded by 160 basis points (bps) to 36.6%, "primarily due to strong regular price sales and leverage on higher revenue," she added.
Management's guidance "still reflects caution," with continued macro environment uncertainty, the analyst stated. 
"Building on the first half momentum, JWN raised the lower end of its annual guide, which we view as a vote of confidence in the rest of the year despite continued macro uncertainties," she further wrote.
Goldman Sachs: Comps slowed sequentially "from the strength observed in 1Q," Roach said. Management indicated that the Nordstrom Anniversary Sale performed in-line with expectations, "with particularly strong results from their private label brand portfolio, active (+DD), women's apparel, beauty, and kids," she added.
"Against a choppy macro backdrop, the positive comp trends in both banners at strong margins (including a gross margin beat) are encouraging," the analyst wrote. Although management's guidance reflects caution in forecasting the back half of the year, investors are likely to focus on the "sustainability of consumer engagement in the holiday season at both banners," she further stated.
JPMorgan: Nordstrom recorded net sales growth of 3.4%, which was "almost entirely led by the Nordstrom Rack banner, Boss said. Full-Line net sales grew by merely 0.9%, missing the estimates, he added.
Digging deeper, management's guidance implies a decline in total revenues of around 3% year-on-year in the back half of the year, the analyst stated. "In addition, management cited expectations for "pressure" on 3Q gross margin due to softer topline expectations &amp; higher B&amp;O deleverage," he further wrote.
BMO Capital Markets: Both banners grew for the second consecutive quarter, Siegel said. While the Nordstrom brand grew by 1% "following 1Q&#8217;s positive inflection (after 6 quarters of declines)," Rack grew by 8.5%, he added.
Anniversary Sale net sales benefited the quarter by around 100 bps, which was lower than expected possibly due to a "weaker end to the sale," the analyst stated. This was the first time since the third quarter of 2023 that Nordstrom recorded a better gross margin "than the group median," he further wrote.
KeyBanc Capital Markets: "JWN&#8217;s execution of customer experience efforts, compelling merchandise and flow, and digital growth across both banners supported strong regular-price sales and customer count/trips," Owens wrote in a note. The company also highlighted that Nordstrom private brands were gaining traction, with double-digit growth across both banners, he added.
Nordstrom raised the low end of its full-year guidance, "while remaining prudent," the analyst stated. "Guidance continues to imply softer comps in the 2H, with 3Q impacted by ~100 bps due to timing shift out of Anniv. sale, and the -135 bps impact from 1 fewer week this year," he further said.
JWN Price Action: Shares of Nordstrom had risen by 4.45% to $22.08 at the time of publication on Wednesday.
Now Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40597015/will-nvidia-continue-to-deliver-investors-sweat-over-hyped-up-expectations-and-pote">Will Nvidia Continue To Deliver? Investors Sweat Over Hyped-up Expectations And Potential Blackwell Delay Ahead Of Q2 Report</a>
Image: Shutterstock

Analyst Color

Reiteration

Nordstrom Beats Q2 Earnings But Guidance Shows A Decline In This Key Matrix: 4 Analysts Revise Forecasts

BMO Capital analyst Simeon Siegel maintains Nordstrom (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JWN#NYSE">JWN</a>) with a Market Perform and raises the price target from $20 to $22.

BMO Capital Maintains Market Perform on Nordstrom, Raises Price Target to $22

Goldman Sachs analyst Brooke Roach maintains Nordstrom (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JWN#NYSE">JWN</a>) with a Neutral and raises the price target from $19 to $21.

Goldman Sachs Maintains Neutral on Nordstrom, Raises Price Target to $21

TD Cowen analyst Oliver Chen maintains Nordstrom (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JWN#NYSE">JWN</a>) with a Hold and raises the price target from $24 to $25.

TD Cowen Maintains Hold on Nordstrom, Raises Price Target to $25

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page.</a>
<ul>
<li>Oppenheimer raised the price target for United Therapeutics Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UTHR#NASDAQ">UTHR</a>) from $400 to $575. Oppenheimer analyst Hartaj Singh maintained an Outperform rating. United Therapeutics shares gained 0.7% to close at $349.23 on Tuesday. <a href="https://www.benzinga.com/quote/UTHR/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Mizuho lowered the price target for BILL Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BILL#NYSE">BILL</a>) from $60 to $52. Mizuho analyst Siti Panigrahi maintained a Neutral rating. BILL Holdings shares gained 7.5% to close at $53.48 on Tuesday. <a href="https://www.benzinga.com/quote/BILL/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Craig-Hallum raised Ambarella, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMBA#NASDAQ">AMBA</a>) price target from $80 to $85. Craig-Hallum analyst Richard Shannon maintained a Buy rating. Ambarella shares gained 3.2% to close at $52.79 on Tuesday. <a href="https://www.benzinga.com/quote/AMBA/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Evercore ISI Group cut the price target for Albemarle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>) from $190 to $170. Evercore ISI Group analyst Stephen Richardson maintained an Outperform rating. Albemarle shares gained 0.04% to close at $88.98 on Tuesday. <a href="https://www.benzinga.com/quote/ALB/analyst-ratings">See how other analysts view this stock.</a></li>
<li>RBC Capital raised Cognizant Technology Solutions Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTSH#NASDAQ">CTSH</a>) price target from $81 to $82. RBC Capital analyst Daniel Perlin maintained a Sector Perform rating. Cognizant Technology shares rose 0.4% to close at $77.15 on Tuesday.<a href="https://www.benzinga.com/quote/CTSH/analyst-ratings"> See how other analysts view this stock.</a></li>
<li>B of A Securities raised Nordstrom, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JWN#NYSE">JWN</a>) price target from $18 to $20. B of A Securities analyst Lorraine Hutchinson maintained an Underperform rating. Nordstrom shares fell 2.5% to close at $21.14 on Tuesday. <a href="https://www.benzinga.com/quote/JWN/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Baird increased the price target for The Toro Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTC#NYSE">TTC</a>) from $100 to $102. Baird analyst Timothy Wojs maintained a Neutral rating. Toro Company shares gained 0.2% to close at $90.60 on Tuesday. <a href="https://www.benzinga.com/quote/TTC/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Bernstein boosted Twilio Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TWLO#NYSE">TWLO</a>) price target from $68 to $70. Bernstein analyst Peter Weed maintained a Market Perform rating. Twilio shares gained 2.2% to close at $61.99 on Tuesday. <a href="https://www.benzinga.com/quote/TWLO/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Deutsche Bank cut Ulta Beauty, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULTA#NASDAQ">ULTA</a>) price target from $552 to $448. Deutsche Bank analyst Krisztina Katai maintained a Buy rating. Ulta Beauty shares fell 1% to close at $371.35 on Tuesday. <a href="https://www.benzinga.com/quote/ULTA/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Citigroup raised Delek Logistics Partners, LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DKL#NYSE">DKL</a>) price target from $44 to $45. Citigroup analyst Douglas Irwin upgraded the stock from Neutral to Buy. Delek Logistics Partners shares fell 0.4% to close at $38.83 on Tuesday. <a href="https://www.benzinga.com/quote/DKL/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Considering buying AMBA stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="513" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/28091528/image-284-1024x513.png" alt="" class="wp-image-518397" style="width:541px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/28091528/image-284-1024x513.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/28091528/image-284-300x150.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/28091528/image-284-768x385.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/28091528/image-284.png 1350w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>

Pre-Market Outlook

BILL

CTSH

TWLO

ULTA

UTHR

Ambarella To Rally Around 61%? Here Are 10 Top Analyst Forecasts For Wednesday

B of A Securities analyst Lorraine Hutchinson maintains Nordstrom (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JWN#NYSE">JWN</a>) with a Underperform and raises the price target from $18 to $20.

B of A Securities Maintains Underperform on Nordstrom, Raises Price Target to $20

Sentiment on Wall Street could be guarded until Nvidia Corp&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40585459/nvidia-stock-q2-earnings-preview-analyst-says-ai-cycle-far-from-over-company-has-fi">earnings are in the rearview mirror. </a>The index futures are barely holding up early Wednesday. Given the absence of any major catalyst, stocks could tread water and could move about listlessly. That said, the retail space could see some strength, encouraged by Nordstrom, Inc.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JWN#NYSE">JWN</a>) earnings, while some positive tech earnings could bolster sentiment toward that space.
Market strategist Ed Yardeni said in Yardeni Research&#8217;s weekly preview that Nvidia earnings are a function of AI investments by mostly other large-cap tech companies, making the AI stalwart the fulcrum of not only the AI trade but a big portion of the entire stock market rally. &#8220;Nvidia&#8217;s earnings will begin to be supported by rising demand from other tech and many non-tech companies in the S&amp;P 493,&#8221; he said.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.09%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.06%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.01%</td>
</tr>
<tr>
<td>R2K</td>
<td>+0.05%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Wednesday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.08% to $562, and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) gained 0.11% to $477.28, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Session 
U.S. stocks meandered back and forth across the unchanged line on Tuesday before ending higher, with IT stocks providing the thrust. After a negative start, the indices recovered after a report showed consumer confidence rose to the highest since February amid an improvement in inflation expectations. The averages went about in a listless manner and yet had enough momentum to close in the green.
The Dow Industrials scaled a fresh closing high, although the 30-stock blue-chip average could not break above its intraday high. The S&amp;P 500 inched further toward its record close of 5,667.20 hit on July 16, while small-caps fell for a second straight session following their recent runup. 
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+0.16%</td>
<td>17,754.82</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.16%</td>
<td>5,625.80</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.02%</td>
<td>41,250.50</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.67%</td>
<td>2,203.00</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Fund manager Louis Navellier expects the market to rally through the presidential election. &#8220;Historically, the stock market rallies into Presidential Election Day since the candidates are promising voters everything and anything,&#8221; he said, adding that &#8220;no taxes on tips and social security benefits are very popular, as are larger child tax credits, plus aid for first-time homeowners.&#8221;
Upcoming Economic Data
<ul>
<li>The Energy Information is due to release its weekly petroleum status report at 10:30 a.m. EDT.</li>
<li>Atlanta Fed President Raphael Bostic&#8217;s speech will make a public appearance at 6 p.m. EDT.</li>
<li>The Treasury will auction five-year notes at 1 p.m. EDT.</li>
</ul>
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How To Trade Futures</a>
Stocks In Focus:
<ul>
<li>Nordstrom rose about 8% <a href="https://www.benzinga.com/premarket">in premarket trading</a> following the company&#8217;s quarterly results.</li>
<li>Other stocks moving on earnings are Ambarella, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMBA#NASDAQ">AMBA</a>) (up over 23%), Box, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOX#NYSE">BOX</a>) (up over 7.50%), nCino, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCNO#NASDAQ">NCNO</a>) (down over 12.5%), PVH Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PVH#NYSE">PVH</a>) (down over 8%), Semtech Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMTC#NASDAQ">SMTC</a>) (up over 4%)and SentinelOne, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/S#NYSE">S</a>) (up over 2%).</li>
<li>Abercrombie &amp; Fitch Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANF#NYSE">ANF</a>), Chewy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHWY#NYSE">CHWY</a>), Foot Locker, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FL#NYSE">FL</a>), J. M. Smucker Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>), Kohl&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KSS#NYSE">KSS</a>), Li Auto Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>) and Patterson Companies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDCO#NASDAQ">PDCO</a>) are among the key companies reporting their earnings ahead of the market open.</li>
<li>Those reporting after the close include Affirm Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>), &nbsp;Cooper Companies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COO#NASDAQ">COO</a>), CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>), Five Below, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVE#NASDAQ">FIVE</a>), HP Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPQ#NYSE">HPQ</a>), Nutanix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTNX#NASDAQ">NTNX</a>), NetApp, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTAP#NASDAQ">NTAP</a>), Okta, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OKTA#NASDAQ">OKTA</a>), Salesforce, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) and Victoria&#8217;s Secret &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VSCO#NYSE">VSCO</a>).</li>
<li>Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) is extending the <a href="https://www.benzinga.com/trading-ideas/short-ideas/24/08/40579899/super-micro-computer-stock-falls-on-short-report-hindenburg-says-company-has-accounting">weakness seen on Tuesday on the back of a short report.</a></li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil and gold futures extended their weakness and Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) retreated below the $60K level. The yield on the 10-year Treasury note fell 1.1 basis points to 3.822%.
Asian stocks closed Wednesday&#8217;s session on a mixed note, while European stocks were firmer in early trading.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40594093/economist-peter-schiff-warns-fed-may-be-committing-mistake-by-lowering-rates-in-sep">Economist Peter Schiff Warns Fed May Be Committing Mistake By Lowering Rates In September As Dollar Index Falls To Lowest In Over A Year</a></li>
</ul>
Photo via Shutterstock

Futures

Previews

Economics

Federal Reserve

NCNO

PDCO

SMTC

Nasdaq, S&P 500 Futures Flatline As Traders Await Earnings Report From AI Barometer Nvidia: Fund Manager Says Market Could Hold Up Until Presidential Election

WIIM

Nordstrom shares are trading higher following Q2 earnings.

Shares of Nordstrom, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JWN#NYSE">JWN</a>) rose sharply in today's pre-market trading after the company reported stronger-than-expected earnings for its <a href="https://www.benzinga.com/news/earnings/24/08/40588492/nordstrom-stock-rallies-on-strong-q2-earnings-details">second quarter on Tuesday.</a>
The company reported quarterly earnings of 96 cents per share, which beat the analyst consensus estimate of 71 cents per share, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro.</a>
Nordstrom shares jumped 7.8% to $22.78 in the pre-market trading.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>JBDI Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBDI#NASDAQ">JBDI</a>) gained 68.5% to $17.05 in pre-market trading after jumping 102% on Tuesday. The company prices its IPO at $5 per share.</li>
<li>SaverOne 2014 Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SVRE#NASDAQ">SVRE</a>) rose 37.5% to $0.3190 in today's pre-market trading after the company reported H1 financial results. Also, the company announced a strategic asset purchase agreement for Micronet Generation-3 camera products and intellectual property.</li>
<li>Heramba Electric plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PITA#NASDAQ">PITA</a>) gained 37.5% to $3.15 in pre-market trading after declining 3% on Tuesday.</li>
<li>Bolt Projects Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BSLK#NASDAQ">BSLK</a>) gained 30% to $2.69 in pre-market trading after dipping 22% on Tuesday.</li>
<li>Ambarella, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMBA#NASDAQ">AMBA</a>) gained 20% to $63.36 in pre-market trading following better-than-expected quarterly results.</li>
<li>Waldencast plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WALD#NASDAQ">WALD</a>) gained 18.5% to $3.44 in pre-market trading after reporting second-quarter results.</li>
<li>Aethlon Medical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEMD#NASDAQ">AEMD</a>) gained 9.3% to $0.52 in pre-market trading after declining 7% on Tuesday.</li>
<li>VNET Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VNET#NASDAQ">VNET</a>) gained 7% to $2.14 in the pre-market trading session following strong quarterly results.</li>
<li>Box, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOX#NYSE">BOX</a>) gained 6.5% to $30.70 in pre-market trading as the company reported better-than-expected financial results for the second quarter and issued strong FY25 guidance.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>QT Imaging Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QTI#NASDAQ">QTI</a>) declined 18.3% to $0.49 in pre-market trading after falling 6% on Tuesday.</li>
<li>Santech Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STEC#NASDAQ">STEC</a>) shares declined 17% to $0.5236 in pre-market trading after jumping 58% on Tuesday. Santech Holdings recently announced a $5 million share repurchase program.</li>
<li>nCino, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCNO#NASDAQ">NCNO</a>) shares fell 14.7% to $29.45 in pre-market trading after reporting second-quarter results.</li>
<li>Ensysce Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENSC#NASDAQ">ENSC</a>) fell 13.1% to $0.56 in pre-market trading. Ensysce Biosciences shares jumped 49% on Tuesday after the company received a $14 million multi-year grant from the NIH for the continued development of its PF614-MPAR, an abuse-deterrent opioid with overdose protection.</li>
<li>Tantech Holdings Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TANH#NASDAQ">TANH</a>) shares fell 10.2% to $0.1669 in pre-market trading after gaining 20% on Tuesday.</li>
<li>T Stamp Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IDAI#NASDAQ">IDAI</a>) fell 10.1% to $0.3710 in pre-market trading.</li>
<li>ARB IOT Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARBB#NASDAQ">ARBB</a>) fell 9.9% to $0.3633 in today's pre-market trading after gaining 6% on Tuesday.</li>
<li>Lixte Biotechnology Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LIXT#NASDAQ">LIXT</a>) shares declined 9% to $1.71 in pre-market trading after dipping 9% on Tuesday.</li>
<li>PVH Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PVH#NYSE">PVH</a>) shares dipped 8.1% to $95.97 in pre-market trading after the company guided a third-quarter revenue decline and issued EPS estimates below estimates.</li>
<li>Magnite, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGNI#NASDAQ">MGNI</a>) shares fell 6.6% to $13.00 in pre-market trading.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40576188/microsoft-synaptics-and-2-other-stocks-executives-are-selling">Microsoft, Synaptics And 2 Other Stocks Executives Are Selling</a></li>
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Why Nordstrom Shares Are Trading Higher By Around 8%; Here Are 20 Stocks Moving Premarket

With U.S. stock futures trading mixed this morning on Wednesday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) to report quarterly earnings at 64 cents per share on revenue of $28.68 billion after the closing bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. NVIDIA shares fell 0.5% to $127.70 in after-hours trading.</li>
<li>Nordstrom, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JWN#NYSE">JWN</a>) reported stronger-than-expected earnings for its second quarter on Tuesday. The company reported quarterly earnings of 96 cents per share, which beat the analyst consensus estimate of 71 cents per share. Nordstrom shares climbed 7.7% to $22.77 in the after-hours trading session.</li>
<li>Analysts are expecting HP Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPQ#NYSE">HPQ</a>) to post quarterly earnings at 86 cents per share on revenue of $13.38 billion. The company will release earnings after the markets close. HP shares slipped 0.03% to $35.59 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Box, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOX#NYSE">BOX</a>) reported better-than-expected financial results for the second quarter and issued strong FY25 guidance. The company said it sees fiscal year 2025 earnings of between $1.64 and $1.66 per share, versus the $1.57 estimate, and fiscal year revenue in a range of $1.086 billion to $1.09 billion, versus the $1.079 billion estimate. Box shares surged 6.9% to $30.81 in the after-hours trading session.</li>
<li>Analysts expect The J. M. Smucker Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>) to post quarterly earnings at $2.17 per share on revenue of $2.13 billion before the opening bell. Smucker shares gained 1.2% to $122.18 in the after-hours trading session.</li>
</ul>
Check This Out: 
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40576188/microsoft-synaptics-and-2-other-stocks-executives-are-selling">Microsoft, Synaptics And 2 Other Stocks Executives Are Selling</a></li>
</ul>

Nvidia, HP And Other 3 Stocks To Watch Heading Into Wednesday

Nordstrom Expects Charges Of About 10 Basis Points To SG&A As Percentage Of Net Sales In Q3 And Q4; Cites Uncertain External Environment; Anticipates Improvement In Sales-To-Inventory Spread; Plans To Open 12 More Rack Stores Ahead Of Holiday Season

Wall Street Lunch: JOLTS Jolt Odds Of Bigger Rate Cut

Nordstrom family $23/share offer for department store chain is fair - analyst

Nordstrom (JWN – Research Report) received a Hold rating and a $23.00 price target from Barclays analyst Paul Kearney today. The company's shares c...

Barclays upgrades Nordstrom (JWN) to a Hold

In a report released today, Oliver Chen from TD Cowen maintained a Hold rating on Nordstrom (JWN – Research Report), with a price target of $25.00....

TD Cowen Reaffirms Their Hold Rating on Nordstrom (JWN)

Barclays moves to the sidelines on Nordstrom's take-private bid

Nordstrom: Business Continues To Benefit From The Macro Backdrop

Notable analyst calls this week: Intel, Super Micro Computer and Zscaler among top picks

Pockets of strength in the retail sales report included personal care, e-commerce, and electronics

Christmas is coming early this year, as retailers face economic worries, late Thanksgiving

The apparel industry is set to hit its stride, with technological advancements, rising demand, and increased consumer spending paving the way for substantial growth. To ride this wave of opportunity, one could consider snapping up shares of top-rated apparel stocks Burlington Stores (BURL), Nordstrom (JWN), and J.Jill (JILL) for solid returns. Read on… The apparel industry is poised for robust growth owing to technological advancements and rising demand. Amid this backdrop, fundamentally robust apparel stocks Burlington Stores, Inc. (<a href="https://stocknews.com/stock/BURL/">BURL</a>), Nordstrom, Inc. (<a href="https://stocknews.com/stock/JWN/">JWN</a>), and J.Jill, Inc. (<a href="https://stocknews.com/stock/JILL/">JILL</a>) are well-positioned to capitalize on the industry's positive momentum.
The industry is on the verge of transformative changes in 2024, spurred by technological advancements and evolving consumer behaviors. These shifts are reshaping fashion trends and creating fertile ground for growth, positioning the sector to expand and capitalize on new opportunities.
Artificial intelligence is set to transform the apparel landscape by optimizing manufacturing, design, and sales processes. With <a href="https://apparelmagic.com/top-industry-trends-for-the-apparel-industry-in-2024/">personalized shopping experiences</a> driven by consumer data, AI will tailor product offerings and marketing strategies, improving customer satisfaction and driving industry growth.
Immersive technologies like virtual try-ons and augmented reality are further changing the shopping experience by allowing customers to visualize clothes before purchasing. This innovation is enhancing customer engagement and satisfaction, driving the sector's expansion as these tools become more widely adopted.
Moreover, retail data shows <a href="https://edition.cnn.com/2024/09/17/economy/us-retail-sales-august/index.html">a 0.1% increase</a> in U.S. consumer spending for August, surpassing expectations. <a href="https://www.forbes.com/advisor/investing/current-inflation-rate/">With inflation easing</a>, this spending boost indicates a favorable environment for the apparel industry. Strong consumer demand, a key driver of the economy, would benefit the sector as it continues to grow and expand.
Looking forward, the global apparel market is forecasted to grow at <a href="https://www.grandviewresearch.com/industry-analysis/apparel-market-report">a CAGR of 4.1%</a>, reaching $2.26 trillion by 2030. This projection reflects the industry's potential to thrive, fueled by technological innovations and positive economic conditions, setting the stage for sustained expansion.
Considering these trends, let's take a look at the fundamentals of the three best <a href="https://stocknews.com/category/fashion-luxury/">Fashion &amp; Luxury</a> industry stocks, starting with #3.
Stock #3: Burlington Stores, Inc. (<a href="https://stocknews.com/stock/BURL/">BURL</a>)
BURL is an off-price retailer that sells branded apparel, footwear, accessories, and home goods at reduced costs. The company also offers a wide range of fashion-focused merchandise, including women's ready-to-wear apparel, menswear, youth apparel, baby, beauty, footwear, accessories, home, toys, gifts, and coats.
On August 31, BlackRock, Inc. (<a href="https://stocknews.com/stock/BLK/">BLK</a>), a prominent global investment firm, significantly <a href="https://finance.yahoo.com/news/blackrock-inc-strategic-acquisition-burlington-052720628.html">boosted its stake in BURL</a> by purchasing 163,876 additional shares at $268.24 per share. The strategic investment highlights BLK's strong belief in BRUL's promising growth opportunities and its positive outlook on the company's future performance.
BURL's trailing-12-month gross profit margin of 43.08% is 15.8% higher than the 37.19% industry average. Moreover, the stock's trailing-12-month ROCE, ROTC, and ROTA of 45.17%, 7.24%, and 5.48% are 299%, 19%, and 32.8% higher than the industry averages of 11.32%, 6.08%, and 4.12%, respectively.
BURL's revenue for the fiscal 2024 second quarter, which ended on August 3, increased 13.4% year-over-year to $2.47 billion. Its <a href="https://www.investopedia.com/terms/a/adjusted-ebitda.asp">adjusted EBITDA</a> rose 43.3% from the year-ago value to $201.84 million. Additionally, the company's adjusted net income amounted to $77.49 million, or $1.20 per share, up 99.3% and 100% year-over-year, respectively.
For the fiscal 2024 third quarter, BURL anticipates <a href="https://www.burlingtoninvestors.com/news-releases/news-release-details/burlington-stores-inc-reports-second-quarter-2024-earnings">a 10% to 12% increase</a> in total sales, with adjusted EPS estimated between $1.45 and $1.55. Additionally, the company has raised its full-year margin and earnings outlook, projecting total sales growth of 9% to 10% and adjusted EPS of $7.66 to $7.96.
Street expects BURL's revenue and EPS for the fiscal 2025 third quarter (ending in October 2024) to increase 11.6% and 58% year-over-year to $2.56 billion and $1.55, respectively. Moreover, the company has surpassed the consensus revenue and EPS estimates in three of the trailing four quarters, which is impressive.
Shares of BURL have gained 15.8% over the past three months and 82.9% over the past year to close the last trading session at $270.29.
BURL's solid prospects are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, equating to a Buy in our proprietary rating system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.
BURL has an A grade for Growth and a B for Momentum, Sentiment, and Quality. It is ranked #15 out of 59 stocks in the A-rated <a href="https://stocknews.com/category/fashion-luxury/">Fashion &amp; Luxury</a> industry.
<a href="https://stocknews.com/stock/BURL/">Click here</a> to see BURL's Value and Stability ratings.
Stock #2: Nordstrom, Inc. (<a href="https://stocknews.com/stock/JWN/">JWN</a>)
JWN is a fashion retailer offering private-label merchandise for women, men, young adults, and children. It operates its Retail segment through two key divisions: Nordstrom and Nordstrom Rack. The company also has arrangements with agents and contract manufacturers for private-brand merchandise.
On August 20, JWN announced plans to open its new store, <a href="https://press.nordstrom.com/news-releases/news-release-details/nordstrom-rack-open-new-location-surprise-arizona">Nordstrom Rack in Surprise, Arizona</a> in fall 2025. Located in the bustling Prasada North shopping center, the new store could enhance JWN's presence and continue delivering its fashion offerings to the local community.
On August 13, JWN unveiled plans to <a href="https://press.nordstrom.com/news-releases/news-release-details/nordstrom-rack-open-new-location-morrisville-north-carolina">open a new Nordstrom Rack store</a> in Morrisville, North Carolina, with a grand opening set for spring 2025. Positioned in the popular Park West Village shopping center, this expansion could boost JWN's visibility and market reach, driving customer engagement and supporting sustained growth.
JWN's trailing-12-month ROCE of 34.02% is 209.3% higher than the sector average of 11.32%. Additionally, the stock's trailing-12-month ROTC of 6.63% is 9.1% higher than the industry average of 6.08%. Moreover, its asset turnover ratio of 1.72x is 73.9% higher than the industry average of 0.99x.
JWN's net sales for the fiscal 2024 second quarter, which ended on August 3, increased 3.4% year-over-year to $3.79 billion. Its adjusted EBITDA rose 19.9% from the year-ago value to $379 million. Plus, the company's net earnings amounted to $122 million. Meanwhile, its adjusted EPS rose 14.3% from the previous year's period to $0.96.
Analysts expect JWN's revenue and EPS for the fiscal year 2026 (ending in January 2026), to increase 1.9% and 1.5% year-over-year to $15.11 billion and $1.89, respectively. Furthermore, the company surpassed the consensus revenue and EPS estimates in three of the trailing four quarters.
Shares of JWN have gained 3.4% over the past three months and 53.2% over the past year to close the last trading session at $22.56.
It's no surprise that JWN has an overall rating of B, which translates to a Buy in our proprietary rating system.
JWN has an A grade for Value and a B for Momentum and Quality. Within the same industry, it is ranked #9.
To see JWN's additional ratings for Stability, Sentiment, and Growth, <a href="https://stocknews.com/stock/JWN/">click here</a>.
Stock #1: J.Jill, Inc. (<a href="https://stocknews.com/stock/JILL/">JILL</a>)
JILL is a national lifestyle brand offering apparel, footwear, and accessories through retail and direct channels. Its products are sold through its e-commerce platform and catalog, as well as its retail stores. The company also has three sub-brands, Pure Jill, Wearever, and Fit, and offers accessory collections.
JILL's trailing-12-month gross profit margin of 70.59% is 89.8% higher than the 37.19% industry average. Additionally, the stock's trailing-12-month EBITDA margin of 17.66% is 54.2% higher than the industry average of 11.45%.
Moreover, the stock's trailing-12-month levered FCF margin and trailing-12-month net income margin of 7.95% and 6.72% are 51.2% and 49.6% higher than the industry averages of 5.25% and 4.49%, respectively.
For the fiscal 2024 second quarter, which ended August 3, 2024, JILL reported net sales of $155.24 million. The company's adjusted income from operations was $24.94 million, and adjusted EBITDA was $30.19 million. Moreover, adjusted net income for the quarter was $15.83 million, or $1.05 per share.
For the fiscal 2025 third quarter (ending October 2024), JILL's revenue is expected to increase marginally year-over-year to $151.02 million. For the ongoing quarter, its EPS is expected to grow by 2.1% from the prior year to $0.80. Also, the company surpassed the consensus revenue and EPS estimates in all four trailing quarters.
Shares of JILL have gained 6.9% over the past six months to close the last trading session at $25.50.
JILL's promising outlook is reflected in its POWR Ratings. It has an overall rating of B, equating to a Buy in our proprietary rating system.
JILL has an A grade for Quality and a B for Value. Within the Fashion &amp; Luxury industry, it is ranked #7 out of 59 stocks.
To access JILL's additional ratings for Growth, Sentiment, Momentum, and Stability, <a href="https://stocknews.com/stock/JILL/">click here</a>.
What To Do Next?
Discover 10 widely held stocks that our proprietary model shows have tremendous downside potential. Please make sure none of these "death trap" stocks are lurking in your portfolio:
<a href="https://report.stocknews.com/free-report/10-stocks-to-sell/?formplacement=artbotad_10sell">10 Stocks to SELL NOW! &gt;</a>

<hr />
BURL shares were unchanged in premarket trading Wednesday. Year-to-date, BURL has gained 38.98%, versus a 19.36% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Aanchal Sugandh</h2> <img src='https:/wp-content/uploads/2022/12/Aanchal-Sugandh_Headshot.jpg' style="float:left; padding:5px;width:125px;">Aanchal's passion for financial markets drives her work as an investment analyst and journalist. She earned her bachelor's degree in finance and is pursuing the CFA program.

She is proficient at assessing the long-term prospects of stocks with her fundamental analysis skills. Her goal is to help investors build portfolios with sustainable returns.<a href="https://stocknews.com/authors/?author=aanchal-sugandh">More...</a>The post <a href=https://stocknews.com/news/burl-jwn-jill-blk-3-top-rated-apparel-stocks-for-fashionable-gains/>3 Top-Rated Apparel Stocks for Fashionable Gains</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Top-Rated Apparel Stocks for Fashionable Gains

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Nordstrom Rack to Open New Location in Coral Springs, Florida

INDOCHINO and Nordstrom Strengthen Partnership with Expansion of Made to Measure Suiting in Five New Locations

Nordstrom to Report Second Quarter 2024 Financial Results on August 27

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Nordstrom Board of Directors Approves Quarterly Dividend

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Nordstrom (JWN) Forecast

Nordstrom (NYSE:JWN) Stock, Quote.Headers.trade-ideas