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Check out the companies that make headlines for noon trading.
Best buy — Retailer share has since fallen 2.4% Goldman Sachs has downgraded its shares to sell from neutral. Investors said in a note to their clients that Best Buy is “one of the best-running retailers,” but stock valuations are high and it’s difficult to sustain recent sales growth.
RH — Furniture company stocks fell 8% after the company warned in the fourth quarter that supply constraints would hurt the company. The company, formerly known as Restoration Hardware, exceeded expectations in the third quarter with adjusted earnings per share of $ 6.20 and revenue of $ 844.8 million. Analysts surveyed by Refinitiv found $ 5.30 per share and revenue of $ 837.1 million.
Door dash — The share of food delivery services has since declined by more than 5% Its strong market debut on Wednesday. DoorDash’s share price soared 85% on the first day of trading on the New York Stock Exchange.
Starbucks – Coffee chain share has since skyrocketed by more than 4% The company reaffirmed its guidance in favor of a “significant” rebound in 2021. The company forecasts growth of at least 20% in 2022. In the long run, Starbucks predicts adjusted earnings per share to rise between 10% and 12%.
Canada goose — Canada Goose’s stock price Goldman Sachs analysts downgraded the company to sell from neutral.. Analysts predict that Canada Goose’s 27% surge since September is “unjustified” and “observes mixed brand momentum indicators for brands until November, which will have a headwind for short-term and medium-term growth. “He added.
Tenet Healthcare — Tenet Healthcare’s stake is more than 16% after healthcare services companies have agreed to acquire a portfolio of up to 45 outpatient surgery centers from SurgCenter Development for $ 1.1 billion in cash and take on an additional $ 18 million in debt. It soared. The transaction is expected to close by the end of 2020.
Siena — Network system company stocks fell more than 3% after missing analysts’ expectations for fourth-quarter earnings. According to Refinitiv, Ciena reports revenue of 60 cents per share, with an estimate of less than 63 cents per share.
CSX – Railroad company stocks fell by more than 1% after Morgan Stanley downgraded CSX to underweight. “The downgrade reflects valuation above all else. Our view of fundamentals hasn’t changed substantially,” the company said in a note to its customers. However, Morgan Stanley has raised its share price target from $ 52 to $ 60.
— CNBC’s Pippa Stevens, Fred Imbert, Maggie Fitzgerald and Jesse Pound contributed to the report.
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Best Buy, RH, Starbucks, Tenet Healthcare, etc.
https://www.cnbc.com/2020/12/10/stocks-making-the-biggest-moves-midday-best-buy-rh-starbucks-tenet-healthcare-more.html Best Buy, RH, Starbucks, Tenet Healthcare, etc.