© Reuters.
By Liz Moyer
Investing.com — Stocks trended lower on Wednesday on a downbeat report from Goal that put a damper on hopes for holiday sales. Listed here are the midday movers for Nov. 16:
Goal Corporation (NYSE:) shares fell 12% after it reported its profit within the fell 50% because it continued to filter out excess inventory. It goals to chop $3 billion in costs over the following few years. Results for the quarter fell wanting expectations.
Lowe’s Corporations Inc (NYSE:) stock rose 3.8% after the house improvement retailer reported higher than expected and raised its full 12 months outlook. Same store sales rose 2.2% and it foresees full 12 months sales between $97 billion and $98 billion.
Advance Auto Parts Inc (NYSE:) stock fell 16% after same store sales dipped and it for the quarter. It lowered its EPS guidance.
Micron Technology Inc (NASDAQ:) stock fell 7% after it said it was cutting its memory chip production by 20% and said the market outlook has weakened.
Restaurant Brands International Inc (NYSE:) stock rose 6.6% after the Burger King parent said it had named former Domino’s Pizza (NYSE:) CEO Patrick Doyle as its executive chairman to “unlock growth.”
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