John Deere combinators will be appearing on Tuesday, August 28, 2018 at the Farm Progress Show in Boone, Iowa, US.
Daniel Acker | Bloomberg | Getty Images
Check out the companies that make headlines in the afternoon trade.
Deere – Shares of farm machinery company rose 4.7% Friday after Deere hit Wall Street expectations on the top and bottom lines for its fiscal third quarter. The company reported $ 2.57 in earnings per share over $ 7.86 billion in revenue, while analysts researched by Refinitiv expected revenue of $ 1.26 per share and $ 6.7 billion in revenue. The corporate profit for its agricultural and peat segment jumped more than 50% compared to last year.
Buckle – Buckle shares rose more than 20% after fashion retailer reported quarterly earnings that devastated Wall Street expectations. The company posted an EPS of 71 cents in the second quarter, against the average estimate of analysts of 29 cents, according to FactSet. Buckle also said 431 of its 446 brick-and-mortar locations were open from early August.
Foot Locker – Retail sales rose more than 1% after the company hit expectations for its fiscal second quarter. The company reported adjusted earnings per share of 71 cents and $ 2.08 billion in revenue, both of which were better than analysts researched by Refinitiv expected. Foot Locker has also reinstated its dividend.
Alibaba – The Chinese giant e-commerce saw its shares rise more than 3% in mid-day trading, after a host of analysts doubled on its Bullish Outlook for the company following its first-quarter fiscal results on Thursday. Star analyst Scott Devitt, for example, wrote that Alibaba “reported impressive F1Q results, well ahead of expectations, growing revenue 34%” on an annual basis. Stifel, Jefferies, Oppenheimer and Raymond James all scored their prize goals on Alibaba following his results.
Tesla – Shares of electric car maker jumped more than 2% to hit a new high of $ 2,081.68. The stock has been in tears since the company announced a 5-for-1 action split on August 11th. Tesla has raised nearly 400% this year amid investor enthusiasm for the space for electric cars.
Ross Stores – Ross Stores shares rose 2.2%, even after the company reported a 33% drop in sales for its fiscal second quarter, as it closed locks triggered by the Covid-19 pandemic . That sales decline, however steep, was better than what Wall Street analysts had expected. Ross explained that sales had been better than expected when locations first opened in May, but that inventories were running low in the following weeks, starting to have a negative impact.
Keysight Technologies – Shares of Keysight Technologies fell 3%, even after the electronics test manufacturer reported better-than-expected results for the previous quarter. The company reported adjusted earnings of $ 1.19 per share on earnings of $ 1.01 billion. Analysts surveyed by FactSet expected earnings of 83 cents per share on revenue of $ 915.4 million. Orders for the quarter, however, came in at $ 1.067 billion, just below the year-earlier mark.
– CNBC’s Pippa Stevens, Fred Imbert, Yun Li and Jesse Pound have reported.
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