Connect with us

First News in the World

Alibaba, Wayfair, Humana and more

Alibaba, Wayfair, Humana and more


Alibaba, Wayfair, Humana and more

Traders wait for the Wayfair IPO on the floor of the New York Stock Exchange October 2, 2014.Lucas Jackson | ReutersCheck out the companies making headlines in midday trading.Alibaba — Shares dropped more than 5% after Ant Group’s record-setting initial public offering in Shanghai and Hong Kong was suspended. Alibaba owns roughly 33% of Ant Group.Wayfair — The e-commerce name advanced more than 4% after the company reported quarterly numbers that beat analyst expectations on both the top and bottom lines. Wayfair earned $2.30 per share on an adjusted basis, which was nearly triple the 80 cents analysts surveyed by Refinitiv expected. Revenue came in at $3.84 billion, which was also ahead of expectations.SolarEdge Technologies — Shares of the solar-equipment maker slid more than 23% after the company missed revenue expectations during the third quarter and issued weak guidance for the fourth quarter. Research firms Northland Capital Markets and Oppenheimer downgraded the stock following the report, while a host of analysts, including Cowen, reduced their price targets. The firm did say, however, that the company’s issues are “transitional and not structural” and that the downward move is an “opportunity to buy on weakness.”Humana — The health insurance stock rose 4.1% after third-quarter results beat Wall Street estimates on the top and bottom lines. The company reported $3.08 in adjusted earnings per share and $18.82 billion in revenue. Analysts surveyed by FactSet projected $2.81 per share and $18.62 billion in revenue. The company said the utilization of care, which fell sharply early in the year due to the pandemic, was rebounding but still below historic levels by the end of the quarter.Ferrari — Shares popped more than 7% after the luxury car company reported better-than-expected earnings for the previous quarter. Ferrari posted earnings per share of 92 euro cents, topping a FactSet estimate of 82 euro cents. The company also said it expects full-year earnings to come in at the top of forecast range.PayPal – Shares dipped about 1% after the payments company gave earnings guidance that disappointed Wall Street. PayPal said it expects fourth-quarter earnings growth to range between 17% and 18%. Analysts polled by FactSet had forecast earnings growth of 23.9% for the quarter. However, the company beat on the top and bottom lines for its third-quarter results.McKesson Corp. — Shares of the medical supplies and pharmaceutical company jumped more than 6% after McKesson reported a stronger-than-expected fiscal second quarter. The company reported $4.80 in adjusted earnings per share and $60.81 billion in revenue. Wall Street analysts expected $3.87 in earnings per share and $59.45 billion in revenue. McKesson’s U.S. pharmaceutical revenue grew 5% year over year.Skyworks Solutions — The semiconductor company dropped nearly 2% despite reporting better-than-expected quarterly results. Skyworks earned $1.85 per share on revenue of $957 million. Wall Street forecast earnings of $1.52 per share on revenue of $842 million, according to Refinitiv. Skyworks also gave strong first quarter and revenue guidance.Cirrus Logic — Shares of the semiconductor supplier rallied more than 7% after beating on the top and bottom lines of its earnings results. Cirrus reported earnings of $1.26 per share, while Wall Street had forecast earnings of 90 cents per share, according to Refinitiv. Revenue came in at $347 million, topping expectations of $311 million. Cirrus also gave strong next quarter revenue guidance.Monster Beverage — Shares of the drink maker ticked 2.8% higher after Morgan Stanley upgraded Monster Beverage to overweight from equal weight. The Wall Street firm said it sees “upside” potential and “strong” international topline momentum.Constellation Brands —Shares of the beer, wine, and spirits maker jumped nearly 5% after Morgan Stanley upgraded Constellation Brands to overweight from equal weight.. The firm said the company has a “compelling valuation” and that markets concerns were “overdone.”AMC Entertainment – Shares surged more than 13% even after the movie theater chain reported wider-than-expected quarterly earnings and a 90% revenue drop. AMC posted a loss of $5.70 per share in the previous quarter, vs. loss of $4.85 expected by analysts, according to FactSet. Its revenue came in at about $120 million in the third quarter, a drastic decline from a year ago but better than Wall Street expectations of just $84 million. The stock fell nearly 9% on Monday after AMC detailed plans to sell up to 20 million class A shares to secure nearly $50 million in new capital.— with reporting from PIppa Stevens, Yun Li, Jesse Pound and Yun Li.

Source link

Continue Reading
You may also like...
Click to comment

Leave a Reply

Your email address will not be published.


To Top
error: Content is protected !!