A look at companies in midday trading: Walmart — Shares of the discount retailer rose 7% on strong earnings. Walmart beat Wall Street expectations for the quarter and raised its full-year outlook as consumers showed continued resilience. The company expects sales to grow 3.75% to 4.75% this year and adjusted earnings to be between $2.35 and $2.43 per share. Nike — Shares of the sportswear and sneaker retailer rose about 4% after Bill Ackman’s Pershing Square Capital Management disclosed a new investment in the company in its latest 13F regulatory filing. The firm held more than 3 million shares of Nike stock as of the end of June, valued at about $229 million, the filing showed. Ulta Beauty — Shares of the beauty retailer soared more than 11% after regulatory filings revealed that Warren Buffett’s Berkshire Hathaway acquired $266 million worth of stock in the second quarter. The bet is relatively small for Berkshire; the company’s stock portfolio is more than $300 billion, so the purchase could have been made by either of Buffett’s aides Ted Weschler or Todd Combs. Alibaba — Chinese e-commerce stocks rose less than 1% after the company’s second-quarter earnings showed weaker-than-expected revenue. Alibaba reported revenue of 243.24 billion yuan, or about $33.5 billion. Analysts surveyed by FactSet had expected revenue of 248.32 billion yuan. The company said its international e-commerce business grew 32% year over year. Dell — Shares rose nearly 8% after JPMorgan added Dell to its watch list, noting it could be poised for upside after a recent selloff. Meanwhile, Citi lowered its price target on the stock. Cisco Systems — Shares rose nearly 7% after the company reported better-than-expected fourth-quarter results. Cisco also said it would lay off 7% of its workforce and implement a restructuring plan that would result in a $1 billion pretax charge. Tapestry — The luxury retailer rose 3% after sales and profits beat expectations. Tapestry’s adjusted earnings per share of 92 cents beat analysts’ expectations of 99 cents per share, according to LSEG. Revenues of $1.59 billion also beat the consensus estimate of $1.57 billion. Deere — The farm equipment maker rose 7% after better-than-expected third-quarter results. Deere earned $6.29 per share on revenue of $11.39 billion. That beat expectations of $5.63 in earnings and $10.84 in revenue per share, according to LSEG. Dutch Brothers — The coffee chain’s shares jumped 7% after UBS upgraded it to buy from neutral. The bank said concerns about Dutch Brothers’ slowing growth seem overblown and that it sees catalysts for accelerating same-store sales growth through 2025. Robinhood — Shares rose nearly 7% after Deutsche Bank raised its rating on the online brokerage to buy from hold. The bank cited long-term earnings potential and a diversified business profile as reasons for the conference call. Lumentum Holdings — The optical provider’s shares rose 14% after better-than-expected fourth-quarter results. Profits came in at 6 cents a share, excluding special items, beating FactSet’s estimate of 2 cents a share. Revenue of $308.3 million also beat expectations of $301.4 million. SiriusXM Holdings — The radio broadcasting stock rose 5% after Buffett’s Berkshire Hathaway disclosed an increased stake in the company in its latest 13F filing. Berkshire owns 132.9 million shares of SiriusXM, down from 36.7 million shares previously. Dillard’s — The department store chain saw its shares fall more than 9% after it reported disappointing quarterly results. Earnings per share fell to $4.59 from $7.98 a year ago. Revenue fell short of expectations. Management highlighted a tough consumer environment and rising expenses. — CNBC’s Yun Lee, Samantha Subin, Michelle Fox, Pia Shin, Alex Harring, Sean Conlon and Jesse Pound contributed to this report.
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