Check out the companies making headlines before the market opens. Flutter Entertainment – Shares of FanDuel rose more than 9% after the parent company unveiled a $5 billion stock buyback plan and outlined long-term growth plans. Progress Software – Technology stocks rose nearly 7% after fiscal third-quarter results beat expectations. Progress reported adjusted earnings of $1.26 per share on revenue of $178.7 million. Analysts polled by FactSet expected earnings of $1.14 per share and revenue of $176.2 million. KB Home – Shares plunged more than 6% as fiscal third-quarter profit fell short of expectations. KB Home earned $2.04 per share, 2 cents less than analysts polled by LSEG expected. The homebuilder’s gross margin on homes also declined from a year ago. Bilibili – Shares of Bilibili fell more than 5% despite JPMorgan ranking it as its top pick among Chinese digital entertainment companies. The company pointed to the company’s action “Three-Make” game and its third-quarter earnings as potential tailwinds for the stock. Rithm Capital – The real estate investment stock rose more than 4% after announcing a secondary offering of 30 million shares. Rithm said the proceeds will be used for general corporate purposes, totaling approximately $342.9 million. Hewlett Packard Enterprise — The technology stock rose nearly 3% after Barclays upgraded the company to overweight from equal weight. Barclays says HP is the best choice for corporate hardware rebound. Worthington Enterprises – Shares fell nearly 5% as first-quarter results fell short of expectations. The company earned 50 cents per share, excluding items, on revenue of $257.3 million. Analysts expected earnings of 71 cents per share on revenue of $296.1 million, according to FactSet. Alibaba – Shares of the Chinese e-commerce giant fell nearly 3% after rising nearly 8% in the previous session. China’s central bank launched new stimulus measures on Tuesday, boosting shares of U.S.-listed Chinese companies. General Motors, Ford Motor Co. — Auto stocks fell after Morgan Stanley’s Adam Jonas downgraded auto stocks due to rising competition from China and weak U.S. consumers. The analyst downgraded Ford to equal weight from overweight, while General Motors downgraded to underweight from equal weight. Shares of General Motors and Ford fell about 3% and 2%, respectively. —CNBC’s Alex Harring, Sarah Min and Lisa Kailai Han contributed reporting.
ABOUT US
Our news website delivers comprehensive coverage on US news, economy, politics, and world events, ensuring you stay informed on the latest developments. We provide timely and accurate news to keep you updated on the most important stories. Stay connected with us for in-depth analysis and breaking news from around the globe.
Contact us: contact@realtimeheadlines.com
© Real Times Headlines - 2024 | All Rights Reserved