Companies to Watch: American Eagle posts weak guidance, Michaels outperforms in quarterly report, AT&T makes big changes
Here are the companies the Yahoo Finance team is watching for you today.
A record quarter for American Eagle Outfitters (AEO), but that doesn't seem to be making investors very happy. The clothing company beat on the top and bottom lines, but guidance was weak. The CEO says they quote "faced challenges" thanks to underperforming seasonal wear and delayed back-to-school shopping.
A better story at Michaels (MIK). Its stock is soaring thanks to a second quarter earning beat and upbeat guidance. The nation's largest operator of arts and crafts stores reported adjusted earnings per share of $0.19 on net income of $24.5 million dollars. Same store sales increased 0.3%.
AT&T's (T) media boss is on his way to the front office. John Stankey was just promoted to President and Chief Operating Officer for the whole company. Insiders say he's now in line to take over for CEO Randall Stephenson. Stankey has been leading major changes at WarnerMedia, including shaking up leadership for the company's media brands.
JetBlue (JBLU) is cutting its third quarter forecast for revenue per available seat mile. The New York-based airline is citing softer bookings for travel to Puerto Rico for the revised numbers. Also weaker demand across the airline's entire network and the potentially long-lasting effects of Hurricane Dorian.
Some news that the folks at Juul will be watching closely: Michigan has become the first state to ban flavored e-cigarettes. The ban takes effect today and covers retail and online sales. It'll last for six months, after that, it could be renewed for another six months while more permanent proposals are considered. The governor says it's necessary to protect young people from the harmful effects of vaping.
