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Capital One Sinks, Abercrombie & Fitch Tumbles, Medline Rises on Analyst Initiations
Description
On this episode of Stock Movers:
- Capital One (COF) shares sink after President Donald Trump called on credit-card companies to cap interest rates at 10% for a year. The cap proposed by the president could wipe out earnings from cards for a year and ruin card economics, according to Mike Mayo, an analyst at Wells Fargo & Co.
- Abercrombie & Fitch (ANF) shares sank after holiday sales disappointed investors, helping spark a selloff in retail stocks. The company now expects fourth-quarter sales growth of around 5%, the mid-point of its prior range, and didn’t raise its outlook.
- Medline (MDLN) shares rise as analysts started coverage on the medical supplier, which went public last month. Firms are largely positive on its prospects.
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