A trader gestures while working on the floor of the New York Stock Exchange (NYSE) in New York.
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Check out the companies making headlines midday Thursday:
Boeing, Caterpillar, Deere — Shares of the trade bellwethers rose after the Chinese Ministry of Commerce hinted that China will not escalate the trade war with the U.S. at the moment. “We firmly reject an escalation of the trade war, and are willing to negotiate and collaborate in order to solve this problem with calm attitude,” spokesperson Gao Feng said. Boeing closed 0.8% higher while Caterpillar and Deere both gained more than 2%.
Best Buy — The retailer’s stock fell 5% after reporting that its comparable store sales missed estimates. Best Buy reported comparable store sales were up 1.6%, compared to the 2.1% estimate by Refinitiv. The company also posted a second-quarter revenue of $9.536 billion, just below an estimate of $9.557 billion.
Dollar General — Shares of Dollar General jumped more than 10% on Thursday after the discount retailer beat expectations for its second quarter and raised its full-year guidance. The company reported earnings of $1.74 per share and $6.98 billion in revenue as same-store sales rose faster than expected. Analysts expected $1.57 per share and $6.89 billion in revenue, according to Refinitiv. The company also raised its full-year net sales growth estimate to 8% from 7%.
H&R Block — H&R Block plunged more than 9% after the tax preparation company generated less revenue than analysts expected in its fiscal first quarter. The company reported a loss of 72 cents per share from continuing operations and $150.4 million in revenue. Analysts expected a loss of 75 cents per share and $151.4 million in revenue. Expenses rose faster than revenues for the quarter, which management attributed in part to increased costs for compensation and technology.
Guess — Shares of the clothing retailer soared 20.5% after announcing better-than-expected second quarter earnings. The company reported adjusted earnings per share of 38 cents, which was 9 cents above a Refinitiv estimate, citing strong sales and effective price management.
Five Below — Shares of Five Below rose 6.3% after the company’s management touted the discount retail chain’s ability to raise prices and mitigate tariff risk. CEO Kenneth Bell said the company had seen positive results in raising prices on select items and that the company was expanding price increases to include more items priced under $4. The company missed revenue expectations for the quarter announced Thursday, earning 51 cents per share on $417.4 million in revenue. Analysts expected 50 cents in earnings per share and $421.1 million in revenue, according to Refinitiv.
PVH — The parent company of Calvin Klein and Tommy Hilfiger posted earnings and revenue that topped analyst expectations. PVH posted a profit of $2.10 per share on revenue of $2.4 billion. Wall Street analysts expected earnings per share of $1.88 on revenue of $2.33 billion. The company’s revenue from its Tommy Hilfiger line grew by 8% in the quarter.
Burlington Stores —Shares of Burlington Stores surged more than 18% on the back of better-than-expected results for the second quarter. The company posted earnings per share of $1.36 on revenue of $1.656 billion. Analysts polled by Refinitiv expected a profit of $1.26 per share on sales of $1.63 billion. Comparable-store sales expanded by 3.8%, topping a FactSet estimate of 1.9%.
—CNBC’s Jesse Pound and Elizabeth Myong contributed to this report