© Reuters
By Sam Boughedda
Investing.com — US equities are gaining Thursday with the the biggest mover at +2.31%. Here are your midday movers on Thursday, May 26th.
- Alibaba Group ADR’s (NYSE:), the Chinese e-commerce giant, is up 13.4% after it beat forecasts for its latest and revenue. Its results were helped by online demand due to Covid-related lockdowns in China.
- GameStop (NYSE:) 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:) beat analyst consensus estimates when it reported 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:), also topped 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:) 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:) is trading 12% higher midday Thursday after it topped expectations, helped by its cloud services and artificial intelligence products.
- Kraft Heinz Co (NASDAQ:) 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.
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