The Lululemon sign hangs in front of their store at Woodbury Commons Premium Outlets on November 17, 2019 in Central Valley, New York.
Gary Hershorn Corbis News Getty Images
Check out the companies leading the headlines in lunch trading on Thursday.
Macy’s – Shares jumped 17.8% after the department store chain reported better-than-expected quarterly results and raised its earnings guidelines. Macy gets a boost from buyers who buy clothes and other goods, despite rising prices.
Twitter – Shares of Twitter jumped more than 5% after Elon Musk increased his commitment in his takeover bid to $ 33.5 billion. Analysts said the move showed new seriousness on the part of Tesla’s chief executive and an increased likelihood that he would complete a deal that had been embroiled in controversy since Musk proposed it in May.
Lululemon – Shares of the athleisure company jumped 10.8% after Morgan Stanley improved Lululemon to overweight and said it was well positioned to perform well, even when a recession was imminent.
Nvidia – Shares of the chipmaker rose 5.6% after falling earlier in the session. This came when Nvidia issued weaker-than-expected guidelines for the current quarter and said it planned to delay hiring.
Broadcom – Shares of Broadcom rose 4.2% after the semiconductor company shared its plan to buy VMware in a deal for $ 61 billion in cash and shares. The acquisition will mark one of the biggest technology deals in history.
Dollar Tree – Discount retailer rose 22.3% after posting quarterly earnings and revenue that exceeded analysts’ expectations. Dollar Tree reported earnings per share of $ 2.37 with revenue of $ 6.9 billion. Analysts had expected earnings of $ 2.00 per share on revenue of $ 6.76 billion, according to Refinitiv.
Kraft Heinz – The food and beverage company fell 6.2% after UBS downgraded shares due to fears of rising inflation and competition from private labels.
Alibaba – Shares of Alibaba rose 14.8% after announcing better-than-expected results for the previous quarter. The Chinese e-commerce giant reported earnings for the fourth fiscal quarter of CNY7.95 per share, excluding items, with revenue of CNY 204.05 billion. According to StreetAccount, analysts had expected earnings of 7.31 yuan per share on revenue of 199.25 billion yuan.
Dollar General – Discount retailers rose more than 14% amid stronger-than-forecast quarterly data. Dollar General reported first-quarter earnings of $ 2.41 per share on revenue of $ 8.75 billion. Analysts had expected earnings of $ 2.31 per share on earnings of $ 8.7 billion, according to the Refinitiv consensus.
Williams-Sonoma – The home furnishings retailer jumped 14.1 percent after a drop in revenue and profit for the previous quarter. Williams-Sonoma also repeated his guidelines for the year.
Nutanix – The cloud company fell 21.9% after issuing weak guidelines. Nutanix also said it was facing supply chain problems that affected hardware partners.
Medtronic – Shares of the medical device fell more than 4% after a weaker-than-expected fiscal fourth quarter report. Medtronic reported adjusted earnings per share of $ 1.52 billion on revenue of $ 8.09 billion. Analysts polled by Refinitiv expected $ 1.56 per share and $ 8.43 billion in revenue. Medtronic said supply chain problems outweighed the quarter’s results.
– CNBC’s Tanya Machel, Hannah Miao, Sarah Min and Jesse Pound contributed to the report
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