Macy's (NYSE:M) Azioni

MACY'S INC

Macy's

Founded in 1858 and based in New York City, Macy's operates about 450 stores under the Macy's name, nearly 60 stores under the Bloomingdale's (full-price and outlet) and Bloomie's names, and more than 170 freestanding Bluemercury specialty beauty stores. Macy's also operates e-commerce sites and licenses Bloomingdale's stores in the United Arab Emirates and Kuwait. Women's apparel, accessories, shoes, cosmetics, and fragrances constitute about 62% of Macy's sales.

Roseville,,Ca,-,November,17,,2019:,Lululemon,Clothing,Boutique,Storefront

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I conti superano le attese, ma è l&#39;allarme sul futuro e il taglio delle previsioni a scatenare l&#39;ondata di vendite.

Lululemon, la trimestrale non basta: il dato che ha fatto crollare le azioni

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Giovedì cruciale sui mercati: strategie e segnali pre-market per affrontare al meglio la giornata di contrattazioni.

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La chiusura di decine di punti vendita ha avuto un impatto immediato sul mercato azionario, suscitando reazioni tra gli investitori.

Macy&#39;s chiude 66 negozi: ecco come ha risposto il titolo in Borsa

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Lululemon Athletica Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LULU#NASDAQ">LULU</a>) plunged 20.79% during the pre-market trading session on Friday, as it cut its full-year earnings forecast amid an unpredictable macroeconomic environment.
What Happened:&nbsp;The athletic apparel company&#8217;s Q1 <a href="https://www.benzinga.com/trading-ideas/movers/25/06/45803189/lululemon-q1-earnings-revenue-beat-eps-in-line-shares-tumble-on-weaker-earnings-forecast">earnings</a>, released on Thursday, exceeded analysts&#8217; expectations. However, the company has adjusted its full-year earnings forecast due to a &#8220;dynamic macroenvironment.&#8221; The company is dealing with tariffs and a potential deceleration in the U.S. economy. 
CEO&nbsp;Calvin McDonald&nbsp;acknowledged the challenges posed by tariffs and concerns about a potential slowdown in the U.S. economy. Despite these challenges, McDonald expressed the company&#8217;s intention to capitalize on its&nbsp;strong financial position and competitive&nbsp;advantages.
McDonald also noted that U.S. consumer behavior is cautious and deliberate, expressing his dissatisfaction with the U.S. growth. The company&#8217;s CFO,&nbsp;Meghan Frank, disclosed plans to introduce &#8220;strategic price increases, examining each item across our range,&#8221; to counterbalance the effects of tariffs. She emphasized that these hikes would be applicable to a minor fraction of their products and would be &#8220;modest in nature.&#8221;
The company&#8217;s shares fell by 5% in after-hours trading following the announcement.
SEE ALSO:&nbsp;<a href="https://benzinga.com/markets/macro-economic-events/25/06/45790762/trumps-tariff-plan-could-cut-deficit-by-2-8-trillion-over-a-decade-but-not-without-" target="_blank" rel="noreferrer noopener">Trump&#8217;s Tariff Plan Could Cut Deficit By $2.8 Trillion Over A Decade — But Not Without Consequences, Warns CBO</a>
Why It Matters: Lululemon's report follows a wave of retailers cutting or withdrawing their guidance amid uncertainty over President Donald Trump's tariff policies. Companies like Abercrombie &amp; Fitch (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANF#NYSE">ANF</a>) and Macy's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) lowered their profit forecasts, while others, such as American Eagle Outfitters (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEO#NYSE">AEO</a>), scrapped their full-year outlook entirely.
On the earnings call, Frank said Lululemon's outlook factors in a 30% tariff on Chinese imports and a 10% tariff on goods from other sourcing countries. In 2024, the company sourced most of its products from Vietnam (40%), followed by Cambodia, Sri Lanka, Indonesia, and Bangladesh. Lululemon outsources all manufacturing and fabric supply to external vendors. 
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Investors will be closely monitoring Lululemon&#8217;s strategies to navigate these challenges and sustain its growth momentum in the face of economic uncertainties.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Lululemon Stock Crashes Nearly 21% In Friday Pre-Market: What's Going On?

In the current session, Macy's Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) is trading at $11.90, after a 0.29% decrease. Over the past month, the stock decreased by 0.38%, and in the past year, by 36.71%. With performance like this, long-term shareholders are more likely to start looking into the company's price-to-earnings ratio. 

<img src="https://www.benzinga.com/files/images/story/2025/1748631635_0.png" alt="Past Year Chart" />

<h3>Evaluating Macy's P/E in Comparison to Its Peers</h3>
The P/E ratio measures the current share price to the company's EPS. It is used by long-term investors to analyze the company's current performance against it's past earnings, historical data and aggregate market data for the industry or the indices, such as S&amp;P 500. A higher P/E indicates that investors expect the company to perform better in the future, and the stock is probably overvalued, but not necessarily. It also could indicate that investors are willing to pay a higher share price currently, because they expect the company to perform better in the upcoming quarters. This leads investors to also remain optimistic about rising dividends in the future. 
Compared to the aggregate P/E ratio of the 44.37 in the Broadline Retail industry, Macy's Inc. has a lower P/E ratio of 6.03. Shareholders might be inclined to think that the stock might perform worse than it's industry peers. It's also possible that the stock is undervalued. 

<img src="https://www.benzinga.com/files/images/story/2025/1748631635_1.png" alt="Guage" />

In summary, while the price-to-earnings ratio is a valuable tool for investors to evaluate a company's market performance, it should be used with caution. A low P/E ratio can be an indication of undervaluation, but it can also suggest weak growth prospects or financial instability. Moreover, the P/E ratio is just one of many metrics that investors should consider when making investment decisions, and it should be evaluated alongside other financial ratios, industry trends, and qualitative factors. By taking a comprehensive approach to analyzing a company's financial health, investors can make well-informed decisions that are more likely to lead to successful outcomes.

Intraday Update

Price Over Earnings Overview: Macy's

Citigroup analyst Paul Lejuez maintains Macy's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) with a Neutral and raises the price target from $11 to $12.

Price Target

Analyst Ratings

Citigroup Maintains Neutral on Macy's, Raises Price Target to $12

Macy&#8217;s Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) reported its first-quarter results on Wednesday, with <a href="https://www.benzinga.com/news/earnings/25/05/45643848/macys-feels-tariffs-and-consumer-spending-heat-cuts-profit-forecast">sales and earnings topping expectations</a>.
The announcement came amid an <a href="https://www.benzinga.com/earnings">exciting earnings season</a>. Here are some key analyst takeaways.
Goldman Sachs On Macy&#8217;s
<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/60eef53155f722000105d101/brooke-roach">Analyst Brooke Roach</a> maintained a Neutral rating, while lifting the price target from $12 to $13.
Macy&#8217;s reported adjusted earnings of 16 cents per share, beating consensus of 15 cents per share, "with the beat largely driven by stronger comp delivery," Roach said in a note. Despite the beat, management lowered their full-year earnings guidance to $1.60-$2.00 per share, from their prior projection of $2.05-$2.25 per share, he added.
"The company's updated outlook accounts for initial and current tariffs, a somewhat weaker discretionary spending backdrop, and a more competitive promotional environment," the analyst wrote. Macy's forecast for net sales remained at $21.0 billion-$21.4 billion, he stated.
Telsey Advisory Group On Macy&#8217;s
<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5888c53977f9dd0001877a22/dana-telsey">Analyst Dana Telsey</a> reaffirmed a Market Perform rating, while lowering the price target from $15 to $14.
Telsey said Macy&#8217;s achieved its earnings beat due to a less-steep-than-expected decline in sales and gains related to a real estate sale, which mitigated higher-than-expected operating expenses. The company expects tariffs to impact its gross margin by 20-40 basis points (bps) this year, she added.
"The second quarter guide reflects markdowns on early spring product that arrived late in Q4 and in February, clearing up shelf space to offer newness through the summer and enter fall and winter in a good inventory position," the analyst wrote. 
For the full year, the company reaffirmed its revenue guidance but reduced its earnings outlook to reflect challenges in the current macro, she further stated.
JPMorgan On Macy&#8217;s
<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/586bcbd9351b9b0001ab738c/matthew-boss">Analyst Matthew Boss</a> reiterated a Neutral rating, while cutting the price target from $13 to $12.
Sales momentum accelerated in March and April, due to improvements in product and experience and more favorable weather, Boss said. There was further improvement in May, he added.
Management reduced their full-year earnings guidance, with gross margin expected to decline by 30-70 bps year-on-year, the analyst stated. The lowered gross margin outlook reflects a tariff hit of 20-40 bps and an "intensifying promotional landscape," he further wrote.
M Price Action: Shares of Macy&#8217;s were flat at $12.00 at the time of publication on Thursday.
Read More: 
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Photo: NYC Russ/Shutterstock

Analyst Color

Earnings Beats

Movers

Macy's Analysts See Tariffs, Promotions Pressuring Outlook Despite Q1 Beat

JP Morgan analyst Matthew Boss maintains Macy's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) with a Neutral and lowers the price target from $13 to $12.

JP Morgan Maintains Neutral on Macy's, Lowers Price Target to $12

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul class="wp-block-list">
<li>Bernstein raised Salesforce, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) price target from $243 to $255. Bernstein analyst Mark Moerdler maintained an Underperform rating. Salesforce shares closed at $276.03 on Wednesday. <a href="https://www.benzinga.com/quote/CRM/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>JP Morgan cut the price target for SentinelOne, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/S#NYSE">S</a>) from $22 to $19. JP Morgan analyst Brian Essex downgraded the stock from Overweight to Neutral. SentinelOne shares closed at $19.67 on Wednesday. <a href="https://www.benzinga.com/quote/S/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Barclays cut Aspen Aerogels, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASPN#NYSE">ASPN</a>) price target from $13 to $7. Barclays analyst David Anderson downgraded the stock from Overweight to Equal-Weight. Aspen Aerogels shares closed at $6.42 on Wednesday. <a href="https://www.benzinga.com/quote/ASPN/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Jefferies increased the price target for GE Vernova Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEV#NYSE">GEV</a>) from $427 to $517. Jefferies analyst Julien Dumoulin-Smith downgraded the stock from Buy to Hold. GE Vernova shares closed at $485.01 on Wednesday. <a href="https://www.benzinga.com/quote/GEV/analyst-ratings">See how other analysts view this stock.</a></li>
<li>RBC Capital cut the price target for Salesforce, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) from $420 to $275. RBC Capital analyst Rishi Jaluria downgraded the stock from Outperform to Sector Perform. Salesforce shares closed at $276.03 on Wednesday. <a href="https://www.benzinga.com/quote/CRM/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Raymond James cut Marvell Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>) price target from $130 to $110. Raymond James analyst Srini Pajjuri maintained an Outperform rating. Marvell Technology shares settled at $64.59 on Wednesday. <a href="https://www.benzinga.com/quote/MRVL/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Telsey Advisory Group slashed Macy&#8217;s, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) price target from $15 to $14. Telsey Advisory Group analyst Dana Telsey maintained a Market Perform rating. Macy&#8217;s shares closed at $12.00 on Wednesday. <a href="https://www.benzinga.com/quote/M/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Rosenblatt boosted NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) price target from $178 to $200. Rosenblatt analyst Kevin Cassidy maintained a Buy rating. Nvidia shares closed at $134.81 on Wednesday.  <a href="https://www.benzinga.com/quote/NVDA/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Needham raised the price target for Veeva Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VEEV#NASDAQ">VEEV</a>) from $270 to $300. Needham analyst Ryan MacDonald maintained a Buy rating. Veeva shares settled at $234.49 on Wednesday. <a href="https://www.benzinga.com/quote/VEEV/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Ascendiant Capital slashed Banzai International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNZI#NASDAQ">BNZI</a>) price target from $26 to $24. Ascendiant Capital analyst Edward Woo maintained a Buy rating. Banzai International shares closed at $0.9975 on Wednesday. <a href="https://www.benzinga.com/quote/BNZI/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
Considering buying NVDA stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="572" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29090416/image-390-1024x572.png" alt="" class="wp-image-931574" style="width:652px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29090416/image-390-1024x572.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29090416/image-390-300x168.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29090416/image-390-768x429.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29090416/image-390.png 1137w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read This Next: 
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<li><a href="https://www.benzinga.com/markets/25/05/45641430/jim-cramer-says-this-quantum-computing-stock-is-so-high-and-too-speculative">Jim Cramer Says This Quantum Computing Stock Is &#8216;So High&#8217; And &#8216;Too Speculative&#8217;</a> </li>
</ul>
Photo via Shutterstock

ASPN

BNZI

MRVL

NVDA

Nvidia To Rally Around 48%? Here Are 10 Top Analyst Forecasts For Thursday

In the preceding three months, 12 analysts have released ratings for Macy's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>), presenting a wide array of perspectives from bullish to bearish.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">10</td>
<td align="right">0</td>
<td align="right">1</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">5</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">3</td>
<td align="right">0</td>
<td align="right">1</td>
</tr>
</tbody>
</table>
In the assessment of 12-month price targets, analysts unveil insights for Macy's, presenting an average target of $13.33, a high estimate of $17.00, and a low estimate of $8.00. Experiencing a 12.19% decline, the current average is now lower than the previous average price target of $15.18. 
<img src="https://www.benzinga.com/files/images/story/2025/1748520077_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
An in-depth analysis of recent analyst actions unveils how financial experts perceive Macy's. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Dana Telsey</td>
<td>Telsey Advisory Group</td>
<td>Lowers</td>
<td>Market Perform</td>
<td>$14.00</td>
<td>$15.00</td>
</tr>
<tr>
<td>Alex Straton</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$12.00</td>
<td>$14.00</td>
</tr>
<tr>
<td>Paul Kearney</td>
<td>Barclays</td>
<td>Announces</td>
<td>Equal-Weight</td>
<td>$12.00</td>
<td>-</td>
</tr>
<tr>
<td>Brooke Roach</td>
<td>Goldman Sachs</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$12.00</td>
<td>$17.00</td>
</tr>
<tr>
<td>Paul Lejuez</td>
<td>Citigroup</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$11.00</td>
<td>$14.00</td>
</tr>
<tr>
<td>Matthew Boss</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$13.00</td>
<td>$14.00</td>
</tr>
<tr>
<td>Dana Telsey</td>
<td>Telsey Advisory Group</td>
<td>Maintains</td>
<td>Market Perform</td>
<td>$15.00</td>
<td>$15.00</td>
</tr>
<tr>
<td>Paul Lejuez</td>
<td>Citigroup</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$14.00</td>
<td>$16.00</td>
</tr>
<tr>
<td>Brooke Roach</td>
<td>Goldman Sachs</td>
<td>Lowers</td>
<td>Buy</td>
<td>$17.00</td>
<td>$19.00</td>
</tr>
<tr>
<td>Jay Sole</td>
<td>UBS</td>
<td>Lowers</td>
<td>Sell</td>
<td>$8.00</td>
<td>$9.00</td>
</tr>
<tr>
<td>Dana Telsey</td>
<td>Telsey Advisory Group</td>
<td>Lowers</td>
<td>Market Perform</td>
<td>$15.00</td>
<td>$17.00</td>
</tr>
<tr>
<td>Dana Telsey</td>
<td>Telsey Advisory Group</td>
<td>Maintains</td>
<td>Market Perform</td>
<td>$17.00</td>
<td>$17.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Macy's. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of Macy's compared to the broader market.</li>
<li>Price Targets: Analysts navigate through adjustments in price targets, providing estimates for Macy's's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of Macy's's market position. Stay informed and make well-informed decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/M/analyst-ratings?adType=benzinga-insights&amp;ad=analyst-ratings&amp;campaign=wallstreetadvantage">Stay up to date on Macy's analyst ratings.</a>
<h2>Unveiling the Story Behind Macy's</h2>
Founded in 1858 and based in New York City, Macy's operates about 450 stores under the Macy's nameplate, nearly 60 stores under the Bloomingdale's (full-price and outlet) and Bloomie's nameplates, and more than 170 freestanding Bluemercury specialty beauty stores. Macy's also operates e-commerce sites and licenses Bloomingdale's stores in the United Arab Emirates and Kuwait. Women's apparel, accessories, shoes, cosmetics, and fragrances constitute about 62% of Macy's sales.
<h3>Macy's's Financial Performance</h3>
Market Capitalization Perspectives: The company's market capitalization falls below industry averages, signaling a relatively smaller size compared to peers. This positioning may be influenced by factors such as perceived growth potential or operational scale.
Revenue Challenges: Macy's's revenue growth over 3M faced difficulties. As of 31 January, 2025, the company experienced a decline of approximately -4.39%. This indicates a decrease in top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Consumer Discretionary sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 4.27%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 7.86%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): Macy's's ROA excels beyond industry benchmarks, reaching 2.03%. This signifies efficient management of assets and strong financial health.
Debt Management: Macy's's debt-to-equity ratio is notably higher than the industry average. With a ratio of 1.25, the company relies more heavily on borrowed funds, indicating a higher level of financial risk.
<h2>How Are Analyst Ratings Determined?</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

Breaking Down Macy's: 12 Analysts Share Their Views

Telsey Advisory Group analyst Dana Telsey maintains Macy's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) with a Market Perform and lowers the price target from $15 to $14.

Telsey Advisory Group Maintains Market Perform on Macy's, Lowers Price Target to $14

U.S. stock futures jumped on Thursday after ending lower on Wednesday. Futures of major benchmark indices rose over 1% in premarket.
A federal court has<a href="https://www.benzinga.com/news/25/05/45660322/trump-tariffs-struck-down-by-federal-court-major-blow-to-white-houses-trade-strategy-report"> invalidated global tariffs</a> enacted by President Donald Trump under the International Emergency Economic Powers Act, a move that could reshape future U.S. trade policy. 
The U.S. Court of International Trade&#8217;s decision challenged the extensive tariff authority previously wielded by the Trump administration and may impact ongoing trade strategies.
A three-judge panel, with appointees from the Reagan, Obama, and Trump eras, ruled that the IEEPA doesn&#8217;t give the president unlimited power to impose tariffs.
The Trump administration filed an appeal against the ruling in minutes, according to a Reuters report.
Meanwhile, the 10-year Treasury bond yielded 4.52% and the two-year bond was at 4.03%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>&#8216;s projections show markets pricing a 97.7% likelihood of the Federal Reserve keeping the current interest rates unchanged in its June meeting. 
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Futures</td>
<td>Change (+/-)</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>1.12%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>1.54%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>1.95%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>1.92%</td>
</tr>
</tbody>
</table>
</figure>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, jumped in premarket on Thursday. The SPY was up 1.51% to $596.62, while the QQQ advanced 1.96% to $529.09, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Cues From Last Session:
U.S. stocks closed lower on Wednesday, with the Dow Jones dropping over 200 points, as rising Treasury yields countered Tuesday&#8217;s trade optimism.
All S&amp;P 500 sectors ended in the red, with utilities, materials, and energy stocks experiencing the most significant declines.
In retail, Macy&#8217;s Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) adjusted its annual forecast downward, citing impacts from tariffs, a slight dip in consumer discretionary spending, and an intensified promotional environment.
Conversely, Abercrombie &amp; Fitch Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANF#NYSE">ANF</a>) delivered stronger-than-expected first-quarter earnings. Economic data showed the composite manufacturing index in the U.S. Fifth District improving to -9 in May from -13 in April.
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-0.51%</td>
<td>19,100.94</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.56%</td>
<td>5,888.55</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.58%</td>
<td>42,098.70</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-1.08%</td>
<td>2,067.80</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
After the Federal Court struck down Trump&#8217;s tariffs, Craig Shapiro, a macro strategist at the Bear Traps Report, said that &#8220;Without tariff revenues, there is a big beautiful hole in the big beautiful budget bill.&#8221;
This implied the administration&#8217;s promise to fund the deficit created by the tax bill through tariff revenue and the Department of Government Efficiency savings.
Shapiro&#8217;s post highlights a budget crisis that could be triggered by the removal of tariff revenue.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Without tariff revenues, there is a big beautiful hole in the big beautiful budget bill Are the bond vigilantes with us in the room?
&mdash; Craig Shapiro (@ces921) <a href="https://twitter.com/ces921/status/1927891799596523725?ref_src=twsrc%5Etfw">May 29, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Bob Elliott, CIO at Unlimited Funds, highlighted an <a href="https://www.benzinga.com/general/market-summary/25/05/45641879/stock-market-is-pricing-a-never-before-seen-divergence-as-equities-and-bonds-run-it-hot-amid-gloomy-outlook-by-bottom-up-analysts">unprecedented "divergence"</a> which he has "never seen" in his professional career outside of typical cyclical bottoms. 
According to him, despite the seemingly extreme market optimism, the perspective from professionals analyzing data from the ground up painted a far more subdued picture.
He explained that aggressive market pricing stands in stark contrast to the pessimistic views held by bottom-up analysts, companies, and economists.
Elliott highlighted in an X thread that corporate earnings revisions for U.S. large-cap companies have notably collapsed, reaching their weakest point since the COVID-19 pandemic. Global earnings revisions also remain quite subdued, despite a marginal recent uptick in negativity.
Projections for 2025 earnings growth, which are typically skewed positively until just before the period, are currently penciled in at a mere 7%.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Stock and bond markets are all in on the &quot;run it hot&quot; trade. But this market pricing is in sharp contrast to the bottoms up view of companies, analysts, and economists all of which remain quite pessimistic. Thread.
&mdash; Bob Elliott (@BobEUnlimited) <a href="https://twitter.com/BobEUnlimited/status/1927666792022884672?ref_src=twsrc%5Etfw">May 28, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How to Trade Futures </a>
Upcoming Economic Data
Here&#8217;s what investors will keep an eye on Thursday:
<ul class="wp-block-list">
<li>The initial jobless claims for the week ending May 24 and the first quarter revised GDP data will be out by 8:30 a.m. ET.</li>
<li>Richmond Fed President Tom Barkin will speak at 8:30 a.m. ET.</li>
<li>Pending home sales data for April will be released by 10:00 a.m. ET.</li>
<li>Chicago Fed President Austan Goolsbee will speak at 10:40 a.m., Fed Governor Adriana Kugler will speak at 2:00 p.m., San Francisco Fed President Mary Daly will speak at 4:00 p.m., and Dallas Fed President Lorie Logan will speak at 8:45 p.m. ET.</li>
</ul>
Stocks In Focus:
<ul class="wp-block-list">
<li>Best Buy Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBY#NYSE">BBY</a>) jumped 5.01% in premarket on Thursday as analysts expect it to report quarterly earnings of $1.31 per share on revenue of $9.22 billion, before the opening bell.</li>
<li>Hormel Foods Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HRL#NYSE">HRL</a>) was 0.30% lower ahead of its earnings, which are supposed to be released before the opening bell. Analysts expect earnings of 34 cents per share on revenue of $2.91 billion.</li>
<li>Dell Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) was up 2.27% as analysts expect it to report quarterly earnings of 80 cents per share on revenue of $13.15 billion, after the closing bell.</li>
<li>Costco Wholesale Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>) was 0.48% higher ahead of its earnings, which are supposed to be released after the closing bell. Analysts expect earnings of $4.24 per share on revenue of $63.19 billion.</li>
<li>Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) surged 5.10% after reporting first-quarter revenue of $44.1 billion, up 69% year-over-year and up 12% from the fourth quarter. The revenue beat a Street consensus estimate of $43.2 billion. Nvidia reported adjusted earnings of 81 cents per share in the first quarter.</li>
<li>C3.ai Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AI#NYSE">AI</a>) surged 17.29% after reporting better-than-expected fourth quarter results on Wednesday.</li>
<li>Salesforce Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) was up 1.72% after delivering strong results and continuing to place its bets on the multitrillion-dollar opportunity arising from the digital labor revolution.</li>
<li>Abercrombie &amp; Fitch Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANF#NYSE">ANF</a>) advanced 2.63% after a strong set of earnings and guidance. The company said that it would not hike prices despite a $50 million cost incurred because of tariffs.</li>
</ul>
Commodities, Gold, And Global Equity Markets:
Crude oil futures were trading higher in the early New York session by 1.34% to hover around $62.67 per barrel.
Gold Spot US Dollar fell 0.28% to hover around $3,279.89 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was higher by 0.14% at the 100.0170 level.
Asian markets closed higher on Thursday as South Korea's Kospi, China&#8217;s CSI 300, India's S&amp;P BSE Sensex, Japan's Nikkei 225, Australia's ASX 200, and Hong Kong's Hang Seng indices rose. European markets were mixed in early trade.
Read Next:
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<li><a href="https://www.benzinga.com/general/market-summary/25/05/45611941/quantum-computing-stocks-in-focus-pure-play-vs-large-caps-heres-a-look-at-the-valuations">Quantum Computing Stocks In Focus: Pure Play Vs. Large Caps &#8211; Here&#8217;s A Look At The Valuations </a></li>
</ul>
Photo courtesy: godongphoto / Shutterstock.com

Market Summary

Futures

Economics

COST

DELL

US Stocks Likely To Open Higher After Federal Court Blocks Trump's Tariffs: 'Without Tariff Revenues, There Is A Big Beautiful Hole In The Big Beautiful Budget Bill,' Says Expert

The CNN Money Fear and Greed index showed a decline in the overall market sentiment, while the index remained in the &#8220;Greed&#8221; zone on Wednesday.
U.S. stocks settled lower on Wednesday, with the Dow Jones falling more than 200 points during the session. After a sharp Tuesday rally fueled by optimism over improved U.S.-EU trade ties, Wall Street stalled as rising Treasury yields reasserted pressure.
Macy&#8217;s Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) on Wednesday revised its annual outlook on initial and current tariffs, some moderation in consumer discretionary spending, and a heightened competitive promotional landscape. Abercrombie &amp; Fitch Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANF#NYSE">ANF</a>) reported better-than-expected first-quarter earnings on Wednesday.
On the economic data front, the composite manufacturing index in the US Fifth District rose to -9 in May compared to -13 in April.
All sectors on the S&amp;P 500 closed on a negative note, with utilities, materials and energy stocks recording the biggest losses on Wednesday.
The Dow Jones closed lower by around 245 points to 42,098.70 on Wednesday. The S&amp;P 500 fell 0.56% to 5,888.55, while the Nasdaq Composite declined 0.51% at 19,100.94 during Wednesday's session.
Investors are awaiting earnings results from Best Buy Co., Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBY#NYSE">BBY</a>), Hormel Foods Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HRL#NYSE">HRL</a>) and Dell Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) today.
At a current reading of 64.5, the index remained in the &#8220;Greed&#8221; zone on Wednesday, versus a prior reading of 65.3.
What is CNN Business Fear &amp; Greed Index?
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
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Dow Dips More Than 200 Points; Investor Sentiment Declines, But Fear & Greed Index Remains In 'Greed' Zone

After a sharp Tuesday rally fueled by optimism over improved U.S.-EU trade ties, Wall Street stalled midweek as rising Treasury yields reasserted pressure ahead of Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)&#8217;s earnings report and the release of<a href="https://www.benzinga.com/topic/federal-reserve"> key Federal Reserve minutes.</a>
Major U.S. stock indexes paused on Wednesday, digesting recent gains as yields on longer-term Treasury bonds resumed their climb. The S&amp;P 500 slipped 0.2% to 5,900 points by midday in New York, while the tech-heavy Nasdaq 100 held flat. Small-cap stocks underperformed sharply, with the Russell 2000 down 0.8%.
Sector performance was broadly negative, with 9 of the 11 S&amp;P 500 sectors trading lower. Technology and communication services were the only sectors managing to avoid losses. 
All eyes are on Nvidia, which is set to report earnings after Wednesday's closing bell. Wall Street expects earnings per share of 88 cents and revenue of $43.2 billion, according to <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a> estimates.
Beyond the headline figures, investors will be closely watching two key aspects: the impact of the U.S. export ban on the H20 chips destined for China and the forward guidance. CEO Jensen Huang already said the company could face a $5 billion annual earnings hit due to export restrictions, making this quarter&#8217;s outlook pivotal for market sentiment.
The Federal Reserve's minutes from its May meeting will also be released. The Federal Open Market Committee left rates unchanged in the 4.25%-4.50% range. Chair Jerome Powell signaled little urgency to cut rates, citing inflation risks partly tied to newly proposed trade tariffs.
Markets will parse the minutes for hints on the Fed's timeline for easing monetary policy, particularly as inflation data remains stubbornly elevated.
After a brief relief, bond markets came under renewed pressure. The yield on the 30-year Treasury note climbed 5 basis points to 5%, while the 10-year yield rose to 4.5%. Investors remain concerned about the trajectory of U.S. fiscal policy, with swelling budget deficits raising doubts about long-term debt sustainability.
The U.S. dollar rallied for a second straight session, decoupling from other U.S. assets. Meanwhile, gold slipped 0.2%, dipping below $3,300 per ounce. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell 2%, trading near $107,000 as speculative appetite in cryptocurrencies waned.
<h3 class="wp-block-heading">Wednesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>21,427.45</td>
<td>0.0%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,908.48</td>
<td>-0.2%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,230.96</td>
<td>-0.3%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,074.61</td>
<td>-0.8%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated by 12:10 p.m. ET</figcaption></figure>
According to&nbsp;Benzinga Pro&nbsp;data:
<ul class="wp-block-list">
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) inched 0.2% down to $589.76.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) eased 0.3% to $422.71.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;held steady at $521.25.</li>
<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.8% to $206.15.</li>
<li>The&nbsp;Communication Select&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) outperformed, up 0.2%; the&nbsp;Utilities&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) lagged, down 1.3%.</li>
</ul>
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
<ul class="wp-block-list">
<li>Vail Resorts Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTN#NYSE">MTN</a>) rallied over 12% – on pace for the strongest one-day rally since March 2020 – after the company announced the reappointment of Rob Katz as CEO. </li>
<li>GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) fell almost 10% after announcing the purchase of 4,710 Bitcoin.</li>
</ul>
Stocks reacting to earnings reports include: 
<ul class="wp-block-list">
<li>HEICO Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HEI#NYSE">HEI</a>) up 6.67%</li>
<li>Okta, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OKTA#NASDAQ">OKTA</a>) down 14.62%</li>
<li>DICK&#8217;S Sporting Goods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DKS#NYSE">DKS</a>) up 1.89%</li>
<li>Abercrombie &amp; Fitch Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANF#NYSE">ANF</a>) up 18.83%</li>
<li>Macy&#8217;s, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) up 1.46%</li>
<li>Capri Holdings Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPRI#NYSE">CPRI</a>) up 3.45%</li>
</ul>
Stocks slated to report earnings after the close include Nvidia Corp, Agilent Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/A#NYSE">A</a>), Synopsys Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNPS#NASDAQ">SNPS</a>), HP Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPQ#NYSE">HPQ</a>), Salesforce Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>), Nordson Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDSN#NASDAQ">NDSN</a>), e.l.f. Beauty Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELF#NYSE">ELF</a>), nCino Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCNO#NASDAQ">NCNO</a>), C3.ai Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AI#NYSE">AI</a>), Veeva Systems Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VEEV#NYSE">VEEV</a>), Pure Storage Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSTG#NYSE">PSTG</a>), and SentinelOne Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/S#NYSE">S</a>).
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