Check out the companies that made headlines in intraday trading: Adobe — The software company fell more than 12% after reporting lighter-than-expected earnings guidance for its fiscal first quarter. Adobe expected first-quarter fiscal revenue to be between $5.63 billion and $5.68 billion, missing the consensus estimate of $5.73 billion, according to LSEG. Warner Bros. Discovery — Shares rose 15% after traditional media company Warner Bros. announced plans to restructure its business and split it into linear and streaming segments. Constellation Energy — The energy company rose 3% after being upgraded to acquisition by Bank of America, which said rising demand and tight supply are future drivers for its stock price. said. Celsius Holdings — The energy drink maker soared 5% after JPMorgan initiated coverage with an Overweight rating. JPMorgan said lower inventories and a reacceleration of growth could help the stock recover. Hershey — Shares rose 2% after Wells Fargo downgraded the candy company from equal weight to underweight, with Hershey “on the precipice of historic EPS pressures into 2025 and (now) 2026.” …And Street EPS needs to come down significantly.” Beverage stocks — Shares of Coca-Cola, PepsiCo and Keurig Dr Pepper all rose more than 1% after Deutsche Bank upgraded the beverage company from neutral to buy. Analyst Steve Powers said he expects trends in restaurant traffic to accelerate and impulse shopping to pick up next year, which should benefit the industry. Oxford Industries — Shares fell more than 7% after the apparel and footwear company reported a weaker-than-expected fourth-quarter profit outlook. Oxford expects current quarter earnings per share, excluding items, of $1.18 to $1.38. Analysts polled by FactSet had expected earnings of $1.55 per share. Riot Platforms — Activist investor Starboard Value gains a “significant position” in Bitcoin miner and forces the company to convert part of its Bitcoin mining facility into space for a large data center Shares rose nearly 10% after the Wall Street Journal reported that the company was seeking user. Pure miners like Riot have lagged behind other miners focused on artificial intelligence this year. While some companies have been caught up in the post-election crypto rally, Riot is still down 16% heading into 2024. Uber Technologies — Ride-sharing shares rose about 2% on Thursday, reversing some of their recent losses. Uber Chief Financial Officer Prashanth Mahendra-Raja said at a Barclays conference late Wednesday that the company is “very satisfied” with the near-term growth trajectory of its mobility business, according to FactSet. . Uber remains down 13% since the beginning of the month due to concerns about its business as self-driving cars advance. ServiceTitan — When ServiceTitan debuted on the Nasdaq, the cloud software company’s stock soared more than 40%. The initial public offering price on Wednesday night was $71 per share, above the company’s expected range. The stock trades under the ticker “TTAN.” —CNBC’s Alex Harring, Hakyung Kim, Sarah Min, Jesse Pound and Tanaya Macheel contributed reporting.
ADBE, WBD, RIOT etc.
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