BJ’s, Urban Outfitters, Zoom and many more

Key conclusions

U.S. stocks fell midday Thursday ahead of economic data and comments from Federal Reserve officials.
BJ’s shares fell after the retailer warned that full-year profits would likely come in at the low end of forecasts.
Urban Outfitters shares fell as the clothing retailer’s comparable-store sales missed forecasts.

U.S. stocks fell midday Thursday ahead of comments from Federal Reserve Chairman Jerome Powell at the Jackson Hole Economic Symposium. The Dow, S&P 500 and Nasdaq were lower.

Shares of BJ’s Wholesale Club (BJ) fell after the retailer warned that full-year profits would likely come in at the lower end of forecasts due to the company’s long-term investments.

Shares of Urban Outfitters (URBN) also fell as the clothing retailer’s comparable-store sales missed forecasts and the company warned it may need to roll out promotions and cut prices to stimulate demand.

Tesla (TSLA) shares fell following the departure of longtime Chief Executive Sreela Venkataratnam, the latest such move since CEO Elon Musk announced a shakeup of the electric vehicle (EV) maker’s business.

Zoom Video Communications (ZM) shares soared after the remote video services provider reported better-than-expected earnings, sales and forecasts, selling more products to businesses and setting a record for customer retention.

Nordson (NDSN) shares rose after the adhesives maker beat earnings and revenue estimates and completed the acquisition of medical device maker Atrion.

Oil futures rose while gold prices fell. Yields on 10-year Treasury notes rose. The U.S. dollar rose against the euro, pound and yen. Most major cryptocurrencies traded higher.

Commercial View