Twitter, Macy’s, Nvidia, Lululemon and more
A Lululemon sign hangs in front of their store at the Woodbury Commons Premium Outlets Mall on November 17, 2019 in Central Valley, New York.
Gary Hershorn | Corbis News | Getty pictures
Take a look at the companies that are making headlines on dinner trading on Thursday.
Macy̵[ads1]7;s – Shares jumped 17.8% after the department store chain reported quarterly results that were better than expected and increased earnings expectations. Macy’s has received a boost from customers who buy clothes and other goods regardless of rising prices.
Twitter – Twitter shares rose more than 5% after Elon Musk increased its commitment in its takeover bid to $ 33.5 billion. Analysts have said the move indicates a new seriousness from the Tesla boss and an increased likelihood that he will complete the deal, which has been embroiled in controversy since Musk proposed it in May.
Lululemon – Shares of the athleisure company rose 10.8% after Morgan Stanley upgraded Lululemon to overweight, saying it was well positioned to perform well, even as a recession approached.
Nvidia – The chip manufacturer’s share rose 5.6% after falling earlier in the session. It came when Nvidia provided weaker guidance than expected for the current quarter and said they plan to slow down employment.
Broadcom – Broadcom’s shares rose 4.2% after the semiconductor company split its plan to buy VMware in a $ 61 billion cash and stock deal. The acquisition will mark one of the largest technology agreements in history.
Dollar Tree – The low-cost retailer rose 22.3% after publishing quarterly earnings and earnings that beat analysts’ expectations. Dollar Tree reported earnings per share of $ 2.37 with revenue of $ 6.9 billion. Analysts expected earnings of $ 2.00 per share of $ 6.76 billion in revenue, according to Refinitiv.
Kraft Heinz – The food and beverage company fell 6.2% after UBS downgraded its holdings for fear of rising inflation and competition from private labels.
Alibaba – Alibaba shares rose 14.8% following the publication of better-than-expected results for the previous quarter. The Chinese e-commerce giant reported revenue of CNY 7.95 in the fourth quarter per share, excluding goods, with revenues of CNY 204.05 billion. Analysts had expected earnings of CNY 7.31 per share of CNY 199.25 billion in revenue, according to StreetAccount.
Dollar General – The low price trader’s shares rose more than 14% on the back of quarterly stronger-than-expected figures. Dollar General had a profit of 2.41 dollars per share in the first quarter with a turnover of 8.75 billion dollars. Analysts had expected a profit of $ 2.31 per share on a turnover of 8.7 billion dollars, according to the Refinitive consensus.
Williams-Sonoma – Home furnishing retailer jumped 14.1% after a slump in revenue and earnings for the previous quarter. Williams-Sonoma also repeated its guidance for the year.
Nutanix – The cloud company fell 21.9% after giving weak guidance. Nutanix also said that it is facing supply chain problems that have affected hardware partners.
Medtronic – Shares in the medical device fell more than 4% after a weaker report than expected for the fourth quarter. Medtronic reported $ 1.52 in adjusted earnings per share of $ 8.09 billion in turnover. Analysts surveyed by Refinitiv expected $ 1.56 per share and $ 8.43 billion in turnover. Medtronic said supply chain problems weighed on quarterly results.
– CNBC’s Tanaya Macheel, Hannah Miao, Sarah Min and Jesse Pound contributed reporting
