Business & Investment

GameStop, General Electric, DraftKings, etc.

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. GameStop, General Electric, DraftKings, etc.

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