Decker Outdoor Tumbles on Guidance; Amex to Cut Workforce | Stock Movers
On this episode of Stock Movers:
- Decker Outdoor (DECK) is tumbling after the footwear company cut its net sales guidance for the full year, which also fell short of the consensus estimate.
- Kering (KER) shares are slumping after the French luxury-goods company saw further deceleration of third-quarter revenue growth at its key Gucci unit, slower growth in North America as well as persistent weakness in China.
- American Express (AXP) shares are moving on news that the company is planning to cut 5% of its global headcount. Chief Executive Officer Steve Squeri told Bloomberg TV that the move will affect about 3,500 jobs.
- Moderna (MRNA) plummeted after data on the companies’ widely anticipated melanoma vaccine wasn’t enough to prove to investors that a new era of cancer treatments has arrived. While the results clearly showed the vaccine worked, they weren’t spectacular enough to generate confidence. (Source: Bloomberg)