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See the companies making headlines before the bell. Delta Air Lines – Shares fell nearly 5% after the airliner provided disappointing fourth-quarter revenue guidance. Delta expects revenue to increase between 2% and 4% from a year earlier, lower than the 4.1% estimate, according to LSEG. Third-quarter earnings per share and revenue also fell short of expectations. 10x Genomics – Shares fell about 26% after the single-cell market leader said it expects third-quarter revenue of $151.7 million, a drop of about 1% compared to the same period last year. CEO Serge Saxonov said the transition the company has experienced due to recent changes in its business processes and organization has been “more disruptive than expected, particularly in the Americas.” CVS Health – Shares of the drugstore chain rose 1.9% on an upgrade to overweight from Barclays’ equal weight. The company said there is an “attractive margin recovery opportunity” for CVS. GXO Logistics – The stock jumped 12% after Bloomberg, citing people familiar with the matter, reported that the company was exploring a potential sale. Although Bloomberg sources said GXO Logistics was working with financial advisors, no final decisions have been made. Celsius Holdings – Shares jumped about 5%, extending gains of more than 6% seen in the previous session. On Wednesday, Piper Sandler released her latest survey of teens, which showed that Celsius outperformed energy drinks. Specifically, the investment firm noted that the brand’s share of mentions as a favorite is approximately 35% higher than its overall market share. Tesla – Shares of the electric vehicle maker gained more than 1% ahead of its robotaxi event Thursday after the bell. Investors expect Tesla to unveil a Cybercab robotaxi prototype and announce advancements in driver assistance features and artificial intelligence capabilities. Nike – Shares edged up 1.5% on the heels of an upgrade from Truist to buy from hold. The company said “Nike’s fundamental recovery remains a long-term prospect,” but that some short-term efforts, such as more marketing and improved wholesaler relationships, by new management are expected. convincing investors that “better times lie ahead” for the sportswear retailer. Medtronic – Shares gained 1% after RBC Capital Markets upgraded Medtronic to outperform relative to sector performance, saying there is a “renewed sense of confidence” in the medical device company. American International Group – The insurance giant’s stock rose about 1% after being raised from neutral to overweight at JPMorgan. The company’s bullish call is based on “more reasonable” consensus EPS forecasts and an “improved” valuation following underperformance. PayPal – The payments company fell 1.7% after Bernstein downgraded the stock from market outperform. Bernstein said in a note to clients that PayPal’s upside potential is uncertain from here after a recent rally that saw the stock rise nearly 40% over the past three months. — CNBC’s Alex Harring, Jesse Pound, Sarah Min, Pia Singh and Michelle Fox Theobald contributed reporting.
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