Check out the companies that are trending in intraday trading. Kohl’s – Shares fell 18% after Kohl’s lowered its sales outlook amid uncertainty over the outlook for the holiday season. The company’s latest quarterly profits and sales fell short of Wall Street analysts’ expectations, and the company’s CEO plans to step down in January. Amgen — The biotech company fell more than 3% after its experimental weight-loss drug caused patients to lose up to 20% of their weight after a year, which was at the lower end of investors’ expectations. Some analysts had expected up to 25% weight loss in Phase 2 trials. Morgan Stanley — Wall Street investment bank Morgan Stanley withdrew more than 2% after HSBC downgraded Morgan Stanley from buy to hold, citing an unattractive risk-reward balance. . Best Buy — The electronics retail chain fell 7% after lowering its full-year sales forecast. Best Buy now expects same-store sales to decline 2.5% to 3.5%, worse than previously expected. Franklin Resources — The asset manager fell more than 3% after federal prosecutors indicted the Western Asset Management subsidiary’s former co-chief investment officer on fraud charges. Dana Inc. — Shares rose 9% after the auto parts supplier named a new CEO and announced a reorganization that includes the sale of its highway business and a $200 million cost-cutting campaign. Abercrombie & Fitch — Shares fell about 5% after the apparel retailer’s third-quarter profit beat expectations but failed to beat Wall Street’s highest expectations. Abercrombie’s earnings were $2.50 per share, beating the consensus of $2.39 per share from analysts surveyed by LSEG. estimate. Revenue of $1.21 billion exceeded expectations of $1.19 billion, and guidance for the year-end sales and full-year results was stronger. Royal Caribbean — The cruise line rose 2% after Bernstein initiated investigative coverage with an Outperform rating. Stellantis — The Chrysler and Jeep owner fell more than 5% after President-elect Donald Trump announced plans to impose 25% tariffs on imports from Mexico and Canada. Stellantis was already considering revising its further expansion plans in Mexico in response to potential tariffs. General Motors and Ford fell more than 8% and 2%. Rivian Automotive — The electric vehicle maker added 2% after receiving conditional approval for more than $6 billion in government financing aimed at supporting production capacity. Fluence Energy — The battery storage company’s stock fell more than 16% after its third-quarter revenue of $1.23 billion fell short of the $1.28 billion expected by analysts surveyed by FactSet. Zoom Communications — After surging 60% from recent lows in August, the online conferencing technology provider fell 8% despite better-than-expected third-quarter results. Zoom reported adjusted earnings per share of $1.38 on revenue of $1.18 billion, compared to market expectations of $131 million and $1.16 billion. Novo Nordisk , Eli Lilly — Novo Nordisk, the maker of diabetes and weight-loss drugs, rose 2% to 5%. The Biden administration has introduced new rules that will allow Medicare and Medicaid to pay for weight loss treatments for Americans suffering from obesity. —CNBC’s Hakyung Kim, PIa Singh, Samantha Subin and Jesse Pound contributed reporting
