Check out the companies making the biggest moves midday: Amazon — The e-commerce behemoth slipped 1.53% after CNBC’s David Faber reported founder and Executive chair Jeff Bezos is expected to be “aggressive” in selling more shares of Amazon. The total sale could amount to more than $1 billion, sources told Faber. Burlington Stores — Shares popped 20.74% after the retailer raised the lower end of its full-year earnings guidance and said it is expecting total sales growth of 11% in 2024. That’s higher than analysts expected. Burlington also said November was off to a strong start. Medtronic — The medical equipment stock jumped 4.6% after the company posted better-than-expected earnings. Adjusted earnings per share came in at $1.25 on revenues of $7.98 billion, versus the $1.18 on revenues of $7.92 billion expected from analysts polled by LSEG. Kohl’s — Shares dropped 8.57% after the retailer reported weaker-than-expected revenues for the third quarter. Same-store sales were down 5.5%, it reported, versus the StreetAccount estimate of 3.8%. Kohl’s lowered the low end of its full-year same-store sales outlook. American Eagle Outfitters — The apparel retailer sank 15.8% after its operating income guidance for the full year came in weaker than expected. C3.ai — Shares of the artificial intelligence software company added 1.68% following an upgrade to outperform from Oppenheimer. Analyst Timothy Horan noted C3.ai remains “one of the few pure plays helping customers drive new revenue sources.” Baidu — U.S. shares of the Chinese technology giant jumped 1.91% after revenue came in slightly higher than analysts forecasted. Baidu reported 34.45 billion yuan for the quarter, surpassing the consensus estimate of 34.33 billion yuan from analysts polled by LSEG. Lowe’s — Shares of the home improvement retailer dipped 3.12% after Lowe’s reported softer-than-expected revenue for the third quarter . The company generated $20.47 billion in revenue for the three…
Read the full article here
Leave a Reply