CBS Television Studios campus in Los Angeles.
Lucy Nicholson | Reuters
Check out the companies that make headlines for dinner Thursday:
CBS, Viacom – CBS and Viacom rose after CNBC's David Faber reported that the CBS board is preparing to hold contract negotiations with Viacom. CBS climbed 3.1% on the news while Viacom – which owns channels like MTV and Comedy Central – advanced 5.2%.
Dollar Tree ̵[ads1]1; Dollar Tree increased more than 3% in the back of better than expected first quarter figures. Same store sales – a key statistics for dealers – rose 2.2%, peaking a Refinitive estimate of 2.1%. Revenue was $ 5,809 billion, higher than the Refinitiv forecast of $ 5,784 billion. Earnings per share were in line with estimates of $ 1.14.
Dollar General – Shares of Discount Dealer Dollar General rose above 7% and reached a 52-week high after the company posted strong earnings in the first quarter. Dollar General reported revenues of $ 6,623 billion, peaking at $ 6.565 billion in Refinitive estimates. The company earned $ 1.48 per share and made a forecast of $ 1.39. Dollar General's sales in the same store increased by 3.8%, while Wall Street expected a 2.9% increase.
Movado – Caretaker Movado shares refueled 6.3% after missing out on top and bottom lines in the quarter. Movado reported earnings per share of 24 cents on revenue of $ 146.5 million. Wall Street estimated earnings per share of 31 cents on revenue of $ 148.7 million, according to Refinitiv.
Semtech – Chipmaker shares fell 7.4% after several analysts cut their price target on the share according to the company's profit or loss. Semtech reported quarterly revenues and revenues that beat analysts' expectations, but the company noted that the US ban on Huawei weighed on results. Analysts in Oppenheimer, Stifel, Piper Jaffray, Wells Fargo and B. Riley FBR all lowered their price targets at Semtech.
Veeva Systems – Cloud computing the company's stock jumped 14.6% after reporting better than expected quarterly results and increasing its full-year revenue guidance. Veeva Systems had a revenue of 47 cents on revenues of $ 244.8 million. Analysts pointed out by Refinitiv expected a profit of 44 cents per share on sales of $ 238.7 million. The company also said it expects full-year earnings to vary between $ 2.01 per share and $ 2.03.
Gannett – the US parent today jumped up to 9.3% and traded 2.1% higher after the Wall Street Journal reported the company was in merger negotiations with Gatehouse Media.
Keysight Technologies – Software company Keysight Technologies jumped 11% after reporting last year's earnings that easily beat expectations. The company posted earnings per share of $ 1.22. Analysts asked by Refinitiv expected a profit of 98 cents per share.
Palo Alto Networks – Palo Alto Networks shares went 6% after cybersecurity company provided guidance for the current quarter that missed expectations. The company said it expects revenue for the fourth quarter to be between $ 1.41 per share and $ 1.42. Analysts asked by Refinitiv expected a forecast of $ 1.54 earnings per share.
PVH – The parent company of Calvin Klein and Tommy Hilfiger threw more than 13% after cutting his full-year result guide. The company quoted slow growth in retail and pressure from the trade war between the US and China. Weak expenses in overseas markets also contributed to PVH's outlook.
Citigroup – Citigroup shares rose up to 2.4% after a Goldman Sachs analyst upgraded the stock to buy from neutral. The analyst said Citi has an "upside potential" of 21%. The shares later paired gains, trading 0.2% higher.