Wall Street Cheers Macy's Cost Cuts and Other #Stocks2Watch

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Published January 09, 2014

| FOXBusiness

Wall Street Cheers Macy's Cost Cuts and Other #Stocks2Watch

Wall Street Cheers Macy's Cost Cuts and Other #Stocks2Watch

Traders sent Macy's shares surging after the retailer posted a bullish outlook and revealed a $100-million-a-year cost-cutting plan. 

Macy's [M]

Macy's said it will slash 2,500 jobs as part of a plan to cut costs by about $100 million a year. The retailer also posted a bullish full-year outlook. The shares are surging 7% in pre-market trading.

Family Dollar [FDO]

Family Dollar revealed fiscal first quarter results that narrowly missed analyst estimates, and projected a fiscal second-quarter profit that is considerably lower than the year prior. The shares are plunging 8% in pre-market action. 

Costco [COST]

Costco said its same-store sales jumped 3% in December, widely topping estimates of a 1.8% increase. The shares are jumping 2% higher in the pre-market as traders cheer the strong results from the key holiday-shopping season. 

Bed Bath & Beyond [BBBY]

All of those 20%-off coupons couldn't lure in the customers for Bed Bath & Beyond in the last quarter. The home goods chain posted profits, sales and a forward outlook that missed Wall Street's expectations. The shares are sliding almost 10% in pre-market action. 

Ford [F]

Ford said it will increase its quarterly dividend by 25% to 12.5 cents per share beginning in the first quarter. The shares are trading higher by more than 1% in pre-market action.

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http://www.foxbusiness.com/investing/2014/01/09/wall-street-cheers-macy-cost-cuts-and-other-stocks2watch/