Macy's Guidance Underwhelms; American Eagle Rallies;
On this episode of Stock Movers:- Shares of Macy's (M) declined ahead of the opening bell after its profit forecast for the current quarter disappointed investors, overshadowing solid results in the lead-up to the holiday shopping season. The company said it expects its adjusted diluted earnings per share to range between $1.35 to $1.55 in the current quarter. The midrange of that forecast is below the average estimate of analysts. Macy’s Chief Executive Officer Tony Spring struck a cautious note on consumer spending in the coming weeks, saying in an interview that guidance was…
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