VKTX - Crude Oil Gains 1%; Macy's Plans To Close 150 Stores | Benzinga
U.S. stocks traded mixed midway through trading, with the Dow Jones index falling around 150 points on Tuesday.
The Dow traded down 0.39% to 38,915.65 while the NASDAQ rose 0.15% to 15,999.50. The S&P 500 also fell, dropping, 0.03% to 5,067.80.
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Leading and Lagging Sectors
Utilities shares rose by 1.5% on Tuesday.
In trading on Tuesday, energy shares fell by 0.5%.
Top Headline
Macy’s Inc (NYSE: M) reported mixed quarterly results and announced plans to close 150 stores.
The company reported fourth-quarter adjusted EPS of $2.45, beating the analyst consensus of $1.96. Quarterly revenue of $8.12 billion missed the analyst consensus of $8.15 billion. Sales fell 1.7% year over year.
Macy’s announced a new strategy, "A Bold New Chapter,” designed to return the company to enterprise growth. The company plans to focus on Macy’s resources by closing approximately 150 underproductive locations through 2026.
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