On this edition of Stock Movers:
- Live Nation (LYV) shares dipped in after hours trading. This comes after the Ticketmaster parent reported second quarter earnings beating Wall Street estimates, driven by strong demand for concerts. However, there is concern for consumer demand. Competitor Vivid Seats (SEAT) also reported earnings and provided a weak outlook for the US consumer.
- Ralph Lauren (RL) shares dropped today after the company reported another quarter of robust growth, but cautioned it wasn’t sure how US consumers would respond to tariffs and price hikes in the second half of the year. “This quarter’s solid performance and our continued momentum give us confidence to raise our full-year outlook even as we remain cautious on the broader macro economic backdrop, primarily in the second half of the fiscal year,” Ralph Lauren Chief Financial Officer Justin Picicci told analysts during an earnings call. Shares fell as much as 7.9%, reversing gains in premarket trading. The stock had surged 31% this year through Wednesday’s close, topping the 7.9% gain for the S&P 500.
- Crocs (CROX) shares slid as much as 29%, the most intraday since March 2020, after the footwear maker projected worse-than-expected sales and profit pressure for its third quarter. A full-year outlook was not provided, with management citing “continued uncertainty from evolving global trade policy and related pressures around the consumer.”
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