TJX, Lowes, Boeing, Goal, Tesla & extra
CEO: Carol MeyrowitzEnterprise Value: $ 33.309 Billion Carol Meyrowitz joined TJX in 1983 and ultimately became President in 2005. The following year she joined the Board of Directors. TJX operates more than 2,900 discount stores, including TJ Maxx, Marshalls and Home Goods.
David McGew | Getty ImagesInset: Essdras M Suarez | The Boston Globe | Getty Images
Check out the companies that are making headlines in midday trading.
Objective – The big box retailer’s shares fell more than 2% after reporting a loss of earnings in the third quarter. The target reported adjusted earnings of $ 2.79 per share on revenue of $ 22.63 billion. Wall Street expects earnings of $ 1.60 per share on sales of $ 20.93 billion, according to Refinitiv. Target’s roadside pick-up service grew more than 500% and Shipt home delivery service grew nearly 280%.
Lowe’s – The home improvement company fell more than 8% after reporting profits and forecasts that fell short of analysts’ expectations. According to Refinitiv, Lowe posted earnings of $ 1.98 per share, with estimates missing by 1 cent.
Boeing stocks rose as much as 4% after the Federal Aviation Administration lifted its ban on the 737 Max after 20 months after two fatal crashes. But the stock ended the day 3.2% lower.
TJX – Retail stocks rose 1.9% after TJ Maxx’s parent company beat Wall Street’s third-quarter income statement estimates. TJX had adjusted earnings per share of 71 cents on revenue of $ 10.12 billion for the quarter. Analysts polled by Refinitiv expected 40 cents per share and sales of 9.36 billion US dollars. At HomeGoods locations that opened in the US, sales in the same store increased year over year.
Tesla – The electric vehicle maker’s shares rose more than 10% after upgrading to overweight at Morgan Stanley. Analyst Adam Jonas also raised his target to $ 540, up 22% from where the stock closed on Tuesday. “Tesla is about to make a profound model shift from selling cars (volume x price) to generating high-margin, recurring software and service revenues,” he wrote in a message to customers.
Nio – US-listed stocks of the China-based electric vehicle maker were down more than 3% after the company’s third quarter results. Nio posted a lower-than-expected loss and said its sales were up 146.4% year over year. According to the report, the company received at least three price target increases from Wall Street analysts.
Pfizer – The pharmaceutical company’s shares rose 0.8% after it was announced that its Covid-19 vaccine candidate was 95% effective in its phase three study. Pfizer said it plans to submit data from the study to the Food and Drug Administration for emergency approval within “days”.
La-Z-Boy The stock rose 3% after the furniture maker reported better-than-expected quarterly results. The company achieved adjusted quarterly earnings of 82 cents per share and was thus well above the consensus estimate of 50 cents per refinitive. The revenues were also above the forecasts.
Polaris shares fell more than 6% after the recreational vehicle maker announced that its chairman and CEO Scott Wine resigned to join CNH Industrial. Polaris said a search for Wein’s successor would begin immediately.
GoodRx – GoodRx stocks fell more than 6% after JPMorgan downgraded the prescription drug digital platform from neutral to underweight. The bank described the launch of the competing service Amazon Pharmacy as a threat to GoodRx.
– CNBC’s Maggie Fitzgerald, Jesse Pound and Pippa Stevens contributed to the coverage.
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