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With the upcoming release of Federal Reserve minutes, markets have traded close to flat on the day. Two big retailers, Abercrombie & Fitch and Best Buy, are making big moves in opposite directions.Here are today’s winners and losers.
Abercrombie & Fitch (ANF): Up 4.4 per cent —Abercrombie announced a big share buyback program and cuts in Europe, which was exactly what investors wanted to hear.
EOG Resources (EOG): Up 3.4 per cent —EOG Resources announced it will be trading ex-dividend.
Best Buy (BBY): Down 7.4 per cent — Smaller rival brick-and-mortar retailer Hhgregg posted a poor earnings report that has led to its stock losing over a third of its value, and dragging Best Buy down with it.
Waste Management (WM): Down 5.3 per cent — Morgan Stanley downgraded Waste Management to underweight from equal weight, causing the stock to tumble.
Harley Davidson (HOG): Down 4.3 per cent — Harley-Davidson declined after Citi said its growth slowed in June.
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