Walgreens Boots Alliance Inc (NASDAQ:WBA) was the biggest loser among the bluechips in the wake of a report that Baird analyst Eric Coldwell cut his price target on the stock to $67 from $70, citing the difficult market facing the pharmacy chain. He maintained a Neutral rating.
The company fell 6.4% to $66.61.
Foot Locker Inc (NYSE:FL) shares gained as the shoe and sporting goods firm beat estimates for the fourth quarter. Adjusted earnings per share came in at $1.56, ahead of the $1.40 consensus. Sales jumped up to $2.272 billion from $2.210 billion, ahead of the $2.184 billion consensus.
The shares climbed 6% to $63.07.
Gap Inc (NYSE:GPS) surged on news that the company will be split into two publicly traded companies, with Old Navy on its own. The other, as-yet-unnamed firm will include Gap, Athleta, Intermix, Banana Republic and Hill City. The company reported fourth-quarter earnings per share of $0.72, compared with the $0.62 expected by analysts. Revenue was $4.62 billion, lower than the $4.69 billion forecast by analysts. Old Navy is responsible for $8 billion in annual sales, while the rest of the company generates $9 billion.
The stock rose 16% to $29.51.
Zscaler Inc (NASDAQ:ZS) shares rocketed as the cloud-based cybersecurity company topped Wall Street estimates. The California-based group posted adjusted earnings per share of $0.09, while revenue rose to $74.3 million from $45 million a year earlier. Analysts had forecast a loss of 1 cent a share on revenue of $66.4 million.
Shares gained 22% to $60.57.
Nutanix Inc (NASDAQ:NTNX) plunged as the cloud computing software company issued guidance for the fiscal third quarter that trailed estimates.
The stock plunged 33% to $33.70.
Contact Dennis Fitzgerald at dennis@proactiveinvestors.com