Wall Street Breakfast Retail stocks punished after holiday updates
6 snips
Jan 13, 2025 The ICR retail conference reveals disappointing holiday sales forecasts, hitting major retailers hard. Oil prices surge due to new sanctions on Russian exports. Nvidia expresses concerns over a new AI diffusion rule affecting national security. Meanwhile, Moderna faces a sharp decline in its revenue outlook for 2025, while Caterpillar receives a positive forecast. The impact of earnings season on tech stocks remains crucial amid these fluctuating market conditions.
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Retailer Updates and Market Reactions
- Several retailers updated their holiday sales and guidance, causing mixed market reactions.
- Some, like Macy's and Shake Shack, saw drops despite meeting or exceeding expectations.
Abercrombie & Fitch: A Contrarian View
- Abercrombie & Fitch's stock dipped despite positive holiday performance and raised guidance.
- Jeffries analyst Corey Tarlow views this as a buying opportunity, highlighting the company's strong growth.
Oil Prices Surge on Sanctions
- Crude oil prices hit a five-month high due to U.S. sanctions on Russian oil.
- These sanctions could shift the oil market from a surplus to a deficit.