Yahoo Finance is tracking Macy’s, Advanced Micro Devices, Tesla and Tyson Foods in intraday trading on Tuesday.
Macy’s (M) – The department store is under pressure after executives warn that margins could be below its forecast given in February. Macy’s now expects gross margins to fall about 60 to 80 basis points from a year ago, a sign that Macy’s is still struggling to boost its business and attract more shoppers. Today’s news is weighing on the department store sector, with Kohl’s (KSS), Nordstrom (JWN) and Sear’s Holdings (SHLD) all trading lower. Macy’s stock has fallen about 38% so far this year.
Advanced Micro Devices (AMD) – Shares are climbing for a second day after Apple (AAPL) announced that its updated 21.5- and 27-inch iMac will use AMD’s Radeon Vega graphics. Advanced Micro Devices is up about 8.2% as of 1 p.m. ET Tuesday.
Tesla (TSLA) – Pacific Crest boosted its price target on Tesla ahead of the electric car maker’s shareholder meeting this afternoon. Analyst Brad Erickson increased his “bull case scenario” to $439 a share, which is about 26% higher than Tesla’s closing price on Monday. Erickson noted the upcoming launch of Tesla’s Model 3, its cheaper sedan, as a reason for the bullish call. Tesla’s stock is up more than 90% over the past six months.
For more on Tuesday’s big stock movers, check out the Final Round, live at 4 p.m. ET, right here on Yahoo Finance.