The General Electric (GE) sign will be seen at the 2nd China International Import Expo (CIIE) held in Shanghai, China on November 6, 2019.
Ally Song | Reuters
Check out the companies that make headlines for noon trading.
General Electric — Shares rose nearly 4% after General Electric’s industrial free cash flow exceeded expectations in the fourth quarter. The company reported $ 4.37 billion on this metric after CEO Larry Culp previously predicted at least $ 2.5 billion. According to Refinitiv, GE’s earnings per share were lower than expected, but earnings were higher than analysts expected.
GameStop — The share of in-store game retailers rose 14% after temporarily surpassing $ 100 as an investor. Frenzy purchases continued.. Shares soared as Social Capital’s Chamat Palihapitiya said in a tweet that he bought GameStop’s call option for a rise in stocks. GameStop recovered more than 300% in January alone as a military of retail investors marshalled short sellers in online chat rooms.
Bed bath & beyond — Nevertheless, retailers’ stock prices soared 7% Two downgrades From a Wall Street company that advises clients to profit after the recent surge in Bed Bath & Beyond. Monday’s share price rose by as much as 40% as retail investors deliberately bought stocks in confused retailers. Have a hedge fund cover losses due to stock shorts..
Draft Kings — After Goldman Sachs, shares in sports lottery companies rose more than 6% upgrade Draft Kings to buy from Neutral. The Wall Street company said DraftKings is in a leading position as the state legalizes gambling.
Canopy growth — After announcing a new line of CBD products for pets led by Martha Stewart, the cannabis company’s share surged 6% to its highest level since July. New products include oil drops and soft baked chews.
American Express — Payment shares fell 2.3% after the company reported its fourth quarter results. American Express earnings per share of $ 1.76 are higher than the $ 1.31 per share forecast by analysts surveyed by Refinitiv. Revenues were in line with the $ 9.35 billion forecast. The decline in American Express continues to trend in financial stocks, despite reporting a final beat in the fourth quarter.
3M – Manufacturing stocks rose more than 2% in the third quarter after 3M exceeded top-line and bottom-line estimates. The company earned $ 2.38 per share on an adjusted basis during the period. This is 23 cents higher than analysts expected. Revenue was $ 8.58 billion, above the expected $ 8.4 billion. 3M said there is growing demand for healthcare products, including N95 masks.
Raytheon Technologies – Raytheon Technologies shares rose more than 3% after the company’s fourth-quarter earnings results exceeded Street’s expectations. Defense industry contractors earned 74 cents per adjusted share and reported revenue of $ 16.420 billion. Analysts surveyed by Refinitiv predicted 70 cents and $ 16.24 billion.
Johnson & Johnson — The share of pharmaceutical and consumer goods companies rose about 3% after reporting better than expected. Revenue.. Johnson & Johnson reported adjusted earnings of $ 1.86 per share. This is higher than the $ 1.82 expected in a Refinitiv analyst survey. The company also said it would announce important details of the coronavirus vaccine “soon.”
Polaris — Motorcycle and snowmobile manufacturers’ share rose nearly 3% after surpassing the top and bottom lines of quarterly earnings. Polaris reports a return of $ 3.34 per share for a return of $ 2.16 billion. According to Refinitiv, Wall Street expects to earn $ 2.90 per share, compared to $ 2.11 billion in revenue.
— Report from CNBC’s YunLi, Pippa Stevens and Jesse Pound.
GameStop, General Electric, DraftKings, etc.
https://www.cnbc.com/2021/01/26/stocks-making-the-biggest-moves-midday-gamestop-general-electric-draftkings-and-more.html GameStop, General Electric, DraftKings, etc.