Philip Morris, Altria – The tobacco companies announced they
Best Buy – In an investor presentation, the electronics retailer
KB Home, Lennar, Toll Brothers – Raymond James upgraded the three homebuilder stocks to “outperform” from “market perform,” anticipating that upcoming earnings reports will show decidedly improved housing market fundamentals.
VF Corp. – The maker of North Face and other apparel brands said it expects compounded annual earnings growth of 12% to 14% over the next five years, with $10 billion being returned to shareholders over that time.
Nike – Nike reported quarterly profit of 86 cents per share, 16 cents a share above estimates. Revenue also topped Wall Street forecasts. The athletic footwear and apparel maker’s results were boosted by a significant jump in online sales, among other factors.
Alibaba – Alibaba unveiled a new artificial intelligence chip that the China-based online retailer said would be used to enhance services for its cloud computing unit.
Amazon.com – Amazon bought technology startup INLT for an undisclosed amount, according to Reuters. INLT makes software that helps companies simplify the process of importing goods into the United States.
McDonald’s – McDonald’s is using Amazon’s Alexa and Alphabet’s Google Assistant to help it hire new workers. The restaurant chain is allowing interested applicants to apply through voice-activated software by answering questions posed by those digital assistants.
AT&T – AT&T Chief Operating Officer John
HD Supply – HD Supply plans to split into two separate public companies. One will contain the facilities maintenance business and the other will focus on commercial and industrial operations.
Cintas – Cintas reported fiscal first-quarter profit of $2.32, beating the consensus estimate of $2.15 a share. Revenue also beat analysts’ forecasts, with the provider of uniforms and other employee services also raising its full-year earnings forecast.
Broadcom – Broadcom raised $3.2 billion in a convertible preferred stock offering, with the