These Stocks Sold Off: Macy's, American Express, and PagSeguro
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Macy's, American Express, and PagSeguro stocks faced significant sell-offs. Macy’s reported a revenue decline of 3.7% year-over-year, with projected net sales for 2024 down to $23.1 billion to $23.4 billion. Discussions with Arkhouse for a buyout were terminated, leading to concerns among shareholders. American Express saw its stock rating downgraded by Bank of America due to weak billings growth, while PagSeguro's stock dropped 14.53%, though it experienced a 19.1% revenue growth year-over-year. Investors are advised to consider DLocal and StoneCo as alternatives.
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