Yahoo Finance is tracking Michael Kors, JetBlue, Alphabet, AMC Entertainment and IMAX in intraday trading on Wednesday.
Michael Kors (KORS) – The luxury fashion retailer disappointed Wall Street after issuing a sales forecast that fell short of analyst estimates and announced plans to close stores. Michael Kors said it would shut more than 100 retail stores over the next two years as it looks to cut costs and boost its business.
JetBlue (JBLU) – The airline is testing a new paperless boarding process. JetBlue will use facial-recognition software on passengers to verify their identities at the gate. The program will start in June on flights from Boston’s Logan International Airport to Aruba.
Alphabet (GOOGL) – The parent company of Google is falling further from the $1,000 mark. Prior to Wednesday’s pullback, the Internet giant was closely following competitor Amazon (AMZN), which reached the milestone Tuesday. Despite today’s drop, Google’s stock has been gaining momentum over the past few months. Shares are up about 25% since January 1 and up 32% over the past year.
AMC Entertainment (AMC), IMAX (IMAX) – Movie theater chains are still under pressure following a weak Memorial Day weekend at the box office. Both AMC Entertainment and IMAX fell to 52-week lows in intraday trading on Wednesday. The box office brought in a total of $176 million over Memorial Day weekend in the US and Canada, its lowest level in 18 years.
For more on Wednesday’s big stock movers, check out the Final Round, live at 4 p.m. ET, right here on Yahoo Finance.