Retail results a bit mixed, with Best Buy and Dick’s strong but Dollar Tree falling shortStocks have a flattish feel after yesterday’s record-breaking sessionIt’s two days until Thanksgiving, but there’s no break from the steady hum of retailers reporting. The “brick-and-mortar” stores still have something to say. Today’s menu includes Best Buy , Dick’s Sporting Goods , and Dollar Tree .
Stocks don’t look too committed to any direction this morning, but considering the record-setting rally yesterday, it would probably be seen as a victory even if they hold current levels. Treasury yields fell slightly early Tuesday, with the 10-year yield back down to 1.73%.It’s been a pretty good retail earnings season despite some high-profile misses from Home Depot and Kohl’s .
Still, investors keep punishing retailers that miss, as DLTR found out early Tuesday. Shares crumbled more than 12% after the company came up short of analysts’ earnings expectations. Once again, the so-called “FAANG” stocks had a nice day, with Netflix gaining 1.6% despite a downgrade. Technology led all sectors Monday as the Semiconductors put on another performance to remember. Shares of Nvidia climbed nearly 5% after an analyst upgrade as investors contemplated recent strength in cloud data center growth and gaming.
Back in August, when DE last reported, the company’s earnings missed Street expectations and its CEO said a “high degree of uncertainty … continues to overshadow the agricultural sector.” Basically, the takeaway was that farmers were delaying equipment purchases due to that uncertainty.