Translate

Search This Blog

Search Tool




Aug 21, 2019

Market Insider: Stocks making the biggest moves premarket: Target, Lowe's, Urban Outfitters, Tesla, Walmart & more

Peter Schacknow





Check out the companies making headlines before the bell:
Target – The retailer posted adjusted quarterly profit of $1.82 per share, 20 cents a share above estimates. Revenue also exceeded forecasts. Comparable-store sales were up 3.4%, above the 2.9% estimate of analysts surveyed by Refinitiv. Target also raised its full-year earnings outlook.
Lowe’s – The home improvement retailer beat estimates by 14 cents a share, with adjusted quarterly profit of $2.15 per share. Revenue also beat forecasts. Comparable-store sales rose 2.3%, better than the 1.9% consensus estimate.
Urban Outfitters – Urban Outfitters reported quarterly profit of 61 cents per share, 3 cents a share above estimates. Both revenue and comparable-store sales came in below Wall Street forecasts, however, as digital sales growth did not offset declines at the company’s Urban Outfitters, Anthropologie, and Free People stores.
Children’s Place – The children’s apparel retailer earned an adjusted 19 cents per share for its latest quarter, a penny a share above estimates. Revenue was below forecasts, however, and comparable-store sales were down 3.8%, matching analysts’ projections. Children’s Place also cut its full-year forecast, as it works through a decrease in traffic, an increase in promotional activity, and pressure from the Gymboree liquidation.
Toll Brothers – Toll Brothers beat estimates by 17 cents a share, with quarterly profit of $1 per share. The luxury home builder’s revenue also beat analysts’ forecasts. Toll Brothers had a drop in orders, however, pointing at possible weaker demand for new homes. The company said lower mortgage rates and strong employment were positive factors going forward.
Tesla – Tesla was sued by Walmart, with the retailer alleging that Tesla’s “widespread negligence” is responsible for repeated fires in Tesla solar energy systems. Walmart is asking the court to force Tesla to remove solar panels from more than 240 of its stores.
Alibaba – Alibaba is delaying a planned $15 billion Hong Kong initial public offering, according to Reuters. The decision by the China e-commerce giant comes amid the growing political unrest in Hong Kong.
Cardinal Health – Cardinal Health said its business could be impacted by ongoing opioid-related lawsuits. Cardinal and other wholesale pharmaceutical distributors have been named in about 2,500 lawsuits and Cardinal said it expects to be named as a defendant in additional lawsuits.
Cree – Cree reported adjusted quarterly profit of 11 cents per share, a penny a share above estimates. The lighting solutions company also saw revenue exceed forecasts. The company gave a weaker-than-expected current-quarter forecast, however, pointing to softness in the LED market and the U.S. ban on doing business with China’s Huawei Technologies.
CyberArk Software – The cybersecurity company was rated “outperform” in new coverage at Cowen, citing its leadership position in the fast-growing Privilege Access Security segment.

No comments:

Post a Comment