Lowe’s, MicroStrategy, Six Flags, Casper Sleep & more

ANASTASIA ZYG


Home Depot and Lowe’s stores

Getty Images

Check out the companies making headlines in midday trading. 

Lowe’s – Shares of Lowe’s ticked more than 3% lower after the company said home improvement sales will likely decline in 2021 as more people get Covid-19 vaccines and spend more time outside their homes. Despite the outlook, Lowe’s said fourth-quarter same-store sales climbed 28.1%. Analysts expected same-store sales of 22%. Lowe’s reported earnings of $1.33 per share on revenue of $20.31 billion. Wall Street expected earnings of $1.21 per share on revenue of $19.48 billion, according to Refinitiv.

Tesla — Tesla shares jumped about 5% after widely followed investor Cathie Wood snapped up more than $120 million worth of the electric car maker’s stock during Tuesday’s rout and subsequent comeback. The electric car maker is the biggest holding of Wood’s flagship Ark Innovation ETF (ARKK), with an over 9% weighting.

Casper Sleep – Shares of the mattress company declined nearly 7% after Casper posted a larger-than-expected loss for the fourth quarter. The company said it lost 37 cents per share, which was 2 cents more than analysts were anticipating. Revenue came in at $150 million, which was ahead of consensus estimates for $138 million, according to Refinitiv.

MicroStrategy – Shares of the enterprise software company jumped more than 16% after MicroStrategy announced that it had bought $1 billion in bitcoin. The company began investing some of its balance sheet cash in bitcoin last year.

Six Flags – Shares of the amusement park operator advanced more than 3% after the company beat top-line estimates during the fourth quarter. Six Flags reported revenue of $109 million compared to the $86.6 million estimate, according to analysts surveyed by Refinitiv. Earnings, however, missed expectations, with the company losing $1.00 per share versus calls for an 89-cent per share loss.

Square — Shares of Square fell about 5% in midday trading after the company said its growth appears to be decelerating compared to prior quarters. The payments company beat fourth-quarter profit estimates by 8 cents a share, with quarterly earnings of 32 cents per share. Square’s revenue also topped Wall Street forecasts. Square also announced it had purchased $170 million in bitcoin during the quarter.

Exxon Mobil – The energy stock gained 2.7% after Exxon announced that it was selling some of its assets in the United Kingdom for more than $1 billion. Shares of the energy stock have only had three negative sessions in February.

Toll Brothers – Shares of the home builder rose 0.17% after a stronger-than-expected earnings report. Toll Brothers earned 76 cents per share last quarter, compared to a consensus estimate of 47 cents, according to Refinitiv. Toll Brothers also raised guidance for a slew of key metrics amid strong demand and tight housing inventories.

Uber — Shares of the ride-hailing company dropped about 3% Wednesday morning after a report said Chinese rival Didi is weighing a rollout into European markets. Beijing-based Didi is considering entering markets in the U.K, France and Germany by the first half of this year, people familiar with the company’s plans told Bloomberg News.

– CNBC’s Pippa Stevens, Jesse Pound, Maggie Fitzgerald and Thomas Franck contributed reporting.

Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.



Source link

Next Post

Marvel's 'Loki' series will debut on Disney+ starting June 11

Fan favorite Marvel villain Loki is making his debut on Disney+ on June 11. The long-awaited “Loki” series, which takes place after the events of “Avengers: Endgame,” stars Tom Hiddleston in the title role and will feature Owen Wilson. The series centers on an alternative version of Loki that escaped […]
Marvel's 'Loki' series will debut on Disney+ starting June 11

Subscribe US Now