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…
On this episode of Stock Movers, Decker Outdoor (DECK) is experiencing a significant decline after the footwear company reduced its net sales guidance for the full year, which did not meet the consensus estimate. Additionally, luxury goods giant Kering (KER) is witnessing a slump in its shares following a slower growth in third-quarter revenue at its flagship Gucci unit, coupled with declining growth in North America and ongoing weakness in China.
Meanwhile, American Express (AXP) shares are moving in response to the company's plans to cut 5% of its global workforce, affecting around 3,500 jobs, as disclosed by CEO Steve Squeri on Bloomberg TV. Lastly, Moderna (MRNA) is plummeting after its widely anticipated melanoma vaccine data fell short of investors' expectations, despite confirming the vaccine's efficacy.
While the results demonstrated the vaccine's effectiveness, they were not compelling enough to instill confidence in the market.
Written by urgent.news from Bloomberg's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
