Here’s a look at some of the stocks the Yahoo Finance team will be watching for you today.
The retail sector remains in focus. Costco (COST) shares were sharply higher this morning. A number of analysts are raising their price target on the stock after the warehouse club chain delivered earnings and revenue that topped estimates last quarter. That was thanks to higher membership fees and strong same-store sales.
Elsewhere in the retail space, shares of Ulta Beauty (ULTA) were eyeing a new all-time high. The beauty products retailer delivered another strong quarter. Earnings and revenue came in much better than expected. Revenue surged more than 22% as it delivered double-digit same-store sale growth.
Investors are not impressed with GameStop’s (GME) quarterly report card. The stock fell in early trading even though the video game retailer posted a beat on both its top and bottom lines for the first quarter. Overall same-store sales rose 2.3 % driven largely by demand for the new Nintendo Switch. However, new video game sales declined more than 8%.
UPS (UPS) is in the headlines this morning. A federal judge ordered the package delivery firm to pay nearly $247 million in fines for illegally shipping hundreds of thousands of cartons of untaxed cigarettes in New York City and state. UPS called the ruling excessive and plans to appeal the decision.