Connect with us

First News in the World

Chevron,, Intel, Roku & more

The Roku IPO at the Nasdaq, September 28, 2017.


Chevron,, Intel, Roku & more


Check out the companies making headlines in midday trade on Thursday:

Chevron- Chevron jumped more than 2% after the oil company said it would not submit a new offer to acquire Anadarko Petroleum, walking away from the deal with a $1 billion breakup fee. This comes after Anadarko said the bid from Occidental Petroleum was superior to Chevron’s. – Shares of plunged over 55% after the company slashed its 2019 earnings index. The postage company expects steeper declines in 2020 and 2021, adding that it will likely be impacted by uncertain contract changes with the United States Postal Service.

Intel – Marking its 11th day down of the past 12 trading days, shares of Intel fell more than 5% after the chipmaker’s stock was downgraded to “market perform” from “outperform” at BMO Capital. In a note to investors, BMO cited the downgrade, saying semiconductor stocks do not do well in a decelerating gross margin environment.

Apple – Shares of Apple were down 2.5% after one of Wall Street’s top Apple analysts said he was skeptical of the stock’s recent rally. Bernstein’s Toni Sacconaghi pointed to the stock’s 17 times forward price-earnings ratio in a note to investors.

Hostess Brands – Shares of the Twinkie maker jumped 6% after first-quarter revenue topped Wall Street expectations on price increases. Sales jumped 7% last quarter, the company said. J.P. Morgan added the stock to its analyst focus list of top picks.

Roku – Shares of Roku surged 23% after the company reported a narrower-than-expected first-quarter loss. Roku reported a loss of 9 cents per share on revenues of $206.7 million, beating expectations of an expected loss of 25 cents per share and revenues of $191.9 million, according to Refinitiv.The company also estimates that 1 in 3 smart TVs sold in the U.S. during the first-quarter had a Roku operating system, pushing it to raise its guidance.

Etsy – Shares of Etsy plummeted 11% after the online retailer reported first-quarter revenues that slightly missed analyst’s expectations. Etsy reported earnings of 24 cents per share, 10 cents higher than expected, and revenues of $169.3, slightly lower than the $170.1 million expected, according to Refinitiv. The retailer also announced that they will be pausing some of its marketing investments during the upcoming quarter.

Tapestry – Parent company of Kate Spade and Coach surged 9% after reporting mixed earnings before the bell Thursday. Tapestry reported earnings per share of 42 cents on revenue of $1.331 billion. Wall Street estimated earnings per share of 41 cents on revenue of $1.336 billion, according to Refinitiv.

American Eagles Outfitters- American Eagle shares fell 2% after the Royal Bank of Canada downgraded the stock on valuation. The clothing company’s rating was lowered to ‘sector perform’ from “outperform.”

Abercrombie & Fitch – Retailer Abercrombie & Fitch fell almost 4% after the stock was downgraded to “underperform” from “neutral” from Wedbush. Wedbush said the clothing maker has less visibility given the looming trade war with China.

Fox Corp. – Fox rose 3% after beating on the top and bottom lines for earnings on Wednesday, its first report as a stand-alone company. Fox posted earnings per share of 76 cents, topping estimates by 9 cents, according to Refinitiv. Fox’s revenue also beat analysts expectations.

Fossil Group – Watch-maker Fossil soared 12% after a strong earnings report on Wednesday. Fossil reported a loss of 42 cents, less than the 64 cents forecast by analysts. The company also beat on revenue boasting stronger sales in China and India.

Edgewell Personal Care – Edgewell Personal Care plummeted more than 14% after reporting mixed second-quarter earnings results on Thursday. The razor company posted earnings per share of $1.13 on revenue of $546.7 million. Wall Street estimated earnings per share of $1.00 on revenue of $562.2 million, according to Refinitiv.

Jessica Bursztynsky
Nadine El-Bawab
Isabel Soisson
Matt Lavietes
contributed to this report.


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 !!