Check out the companies making headlines before the market opens. Ulta Beauty — Shares of the beauty retailer surged in premarket trading after a regulatory filing showed Warren Buffett’s Berkshire Hathaway acquired a $266 million stake in the second quarter 13%. The bet is relatively small for Berkshire, whose stock portfolio is worth more than $300 billion, so Buffett’s deputies Ted Weschler and Todd Combs could be The people behind these shares. Walmart – Shares of Walmart surged 7% after the retailer beat Wall Street’s top and bottom-line expectations and raised full-year guidance, citing healthy consumers. The company reported adjusted earnings of 67 cents per share on revenue of $169.34 billion. Cisco Systems — Shares of Cisco Systems rose 6% after the networking company reported fourth-quarter earnings that beat Wall Street expectations and announced plans to cut 7% of its workforce. The company said it is implementing a restructuring plan that will result in a $1 billion pretax charge to its financial results. Tapestry — The owner of Coach and Stuart Weitzman saw its shares jump 5% on strong quarterly results. Profits were 4 cents above expectations. Tapestry’s revenue also beat expectations. Nike — Shares of the sportswear company rose 4% after Bill Ackman’s Pershing Square Capital Management disclosed it bought shares of the company in the second quarter above. Pershing Square held more than 3 million shares of Nike stock as of the end of June, according to a securities filing. Snowflake — The cloud stock fell 4% after Wells Fargo downgraded the stock to equal weight from overweight. Wells Fargo said that as Snowflake faces headwinds, the company’s premium price-to-earnings ratio is becoming increasingly difficult to justify. Lumentum Holdings — Shares of the optical supplier surged more than 14% on stronger-than-expected fiscal fourth-quarter results. Earnings per share were 6 cents, above the FactSet forecast of 2 cents per share. Revenue also beat expectations. Alibaba — Alibaba’s latest quarter results missed expectations, sending the Chinese internet giant’s shares down about 4%. Revenue was 243.24 billion yuan ($34.01 billion), lower than analysts’ expectations of 249.05 billion yuan, LSEG data showed. Net profit was 24.27 billion yuan, lower than the market consensus of 26.91 billion yuan. Deere — The farm machinery maker’s shares rose 2.5%. Deere & Company’s fiscal third-quarter earnings were $6.29 per share on revenue of $11.39 billion, exceeding Wall Street expectations. That beat expectations of $5.63 per share and $10.84 per share among analysts surveyed by LSEG. Robinhood — Robinhood shares rose 2% after Deutsche Bank upgraded the stock to a buy rating, citing it as an attractive entry point after the recent selloff and earnings revisions. Nucor — Morgan Stanley upgraded the stock to overweight, citing strong earnings growth potential in 2025 and 2026. ) raised its rating on the stock to “buy” from “neutral”, sending the steelmaker’s shares up 3%. The bank said concerns about Holland Brothers’ growth slowdown appeared to be overblown and believed the stock had “strong growth potential.” —CNBC’s Li Yun, Alex Harlin, Jesse Pond, Sarah Min and Michelle Fox 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