American Eagles Rises, Apple Drops on Meta Poach, Netflix Slips
Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Greifeld, Tim Stenovec and Carol Massar.
On this episode of Stock Movers:
- American Eagle Outfitters (AEO) posted third-quarter results that outpaced expectations and raised its outlook as the apparel chain pivots quickly from weakness earlier this year. Comparable sales are expected to rise in the low single digits for the full fiscal year, the company said in a statement, up from its previous view that they’d be flat. Revenue and earnings per share for the third quarter also surpassed the average of analyst estimates.
- Meta Platforms (META) is hiring Alan Dye, Apple's (AAPL) "most prominent design executive" who has served as the head of Apple's user interface design team since 2015. Apple's stock dropped 0.6% on the news.
- Netflix Inc (NFLX) shares slipped on Wednesday following reports that the company has submitted a mostly cash bid for Warner Bros. Discovery Inc's (NASDAQ:WBD) studios and streaming division.
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