Target — Shares plunged more than 17% after the Minneapolis-based retailer missed third-quarter earnings and revenue estimates and slashed its full-year guidance, just three months after raising that forecast. Target cited only a slight uptick in customer traffic and its CEO noted “lingering softness in discretionary categories.”
Comcast — Shares rose more than 2% after the owner of NBCUniversal said it will spin off its cable assets, including CNBC and MSNBC, into a separate, publicly held company. The spinoff is expected to take about a year, the Brian Roberts-led company said. Goldman Sachs and Morgan Stanley advised the parent company.
Delta Air Lines — The Atlanta-based carrier fell more than 1% after reiterating its outlook for the fourth quarter. Delta expects mid-single-digit sales growth next year, in line with analysts’ expectations.
Nio — U.S. shares fell more than 2% after the Chinese electric vehicle maker posted lower-than-expected revenue for the third quarter. Nio sales totaled 18.67 billion yuan for the period, down 2.1% year over year. Analysts polled by FactSet were estimating 19.13 billion yuan.
Dolby Laboratories — Shares soared nearly 15% after the audio technology company’s quarterly results topped Wall Street estimates. Dolby earned 61 cents per share in its fiscal fourth quarter, above analysts’ estimated 45 cents per share, according to FactSet. Dolby also raised its quarterly dividend 10% to 33 cents per share, payable Dec. 10.
Robinhood — Shares rose more than 3%, extending Tuesday’s gains. On Wednesday, Needham upgraded the stock to buy from hold. The financial services platform said it is acquiring TradePMR for about $300 million to boost its advisory capabilities.
Keysight Technologies — The electronics test and measurement equipment maker climbed more than 9% following better-than-expected fiscal fourth-quarter results. Keysight also gave an optimistic forecast for the current quarter, expecting adjusted earnings of between $1.65 and $1.71 per share versus analysts’ consensus estimate of $1.57, according to FactSet.
AppLovin — Shares advanced 2.3% after Piper Sandler initiated research coverage of the mobile app developer with an overweight rating, and a price target implying the stock has more upside ahead, even after it surged more than 700% in 2024.
Powell Industries — Shares of the electrical equipment company fell 13% after new orders in the fiscal fourth quarter fell to $267 million from $356 million in the third quarter. Fourth-quarter revenue missed analysts’ estimates, according to FactSet, while earnings per share topped forecasts.
Super Micro Computer — Shares moved more than 2% lower after soaring more than 31% on Tuesday. The server maker announced it hired BDO as its new auditor and submitted a plan to the Nasdaq Stock Market outlining how it will comply with listing requirements.
Netflix — Shares gained almost 1% after Netflix said the boxing match last week between former heavyweight champion Mike Tyson and Jake Paul drew 108 million global viewers, making it the most-streamed global sporting event ever.
— CNBC’s Alex Harring, Jesse Pound, Pia Singh and Sarah Min contributed reporting. Disclosure: Comcast owns NBCUniversal, the parent company of CNBC.
Source link
This article was complied by AI and NOT reviewed by human. More information can be found in our Terms and Conditions.
