Take a look at some of the most important engines on the previous market:
Conagra Brands (CAG): The food producer reported quarterly earnings of 75 cents a share, 9 cents a share above estimates. Revenue also exceeded consensus, and Conagra gave a forecast range of earnings for the current quarter that far exceeds estimates, as the pandemic helps spur an increase in demand.
Micron Technology (MU): Micron beat estimates by 5 cents a share, with quarterly earnings of 82 cents a share. The chipmaker’s revenue also exceeded expectations, and Micron provided optimistic revenue guidance as workers and students who stayed home increased demand for its chips for computers and data centers.
Simon Property Group (SPG) – Simon said it would reopen its remaining five closed retail properties within the next week. The mall operator also said many of its tenants have reported higher-than-expected sales since their doors reopened.
Apple (AAPL): iPhone 5G shipments in 2020 may be much weaker than expected, according to sources speaking with DigiTimes. Those sources estimate that current estimates are 15 million to 20 million units this year compared to a previous forecast of 30 million to 40 million.
Xilinx (XLNX) – Xilinx raised its first-quarter tax revenue guidance, and the specialty chip maker said its business had been helped by the relaxation of sales restrictions on Chinese companies.
Royal Dutch Shell (RDS.A, RDS.B) – Royal Dutch Shell will take an amortization of $ 22 billion on the value of its assets after the power producer lowered its outlook on oil and gas prices.
Wells Fargo (WFC) – Wells Fargo said it would cut its dividends to preserve capital, and that the size of the cut will be announced along with its second-quarter earnings report on July 14. The Federal Reserve had asked banks not to increase dividends amid the uncertainty surrounding the pandemic, following tests of bank stress. JPMorgan Chase (JPM), Citigroup (C), Bank of America (BAC), Goldman Sachs (GS) and Morgan Stanley (MS) plan to keep their dividends stable.
Boeing (BA) – Norwegian Air has canceled orders for 97 Boeing 737 Max and 787 aircraft, and plans to seek compensation for the 737’s grounding and 787-related engine problems.
Lululemon (LULU): Lululemon is buying a mirror from the home fitness company for $ 500 million, in a move designed to allow the sportswear maker to take advantage of a pandemic wave related to fitness activities in the home.
Uber Technologies (UBER) – Uber is in talks to buy the Postmates food delivery service for $ 2.6 billion, according to The Wall Street Journal. Uber had struck up failed talks last month to buy Grubhub (GRUB) and combine it with its Uber Eats food delivery unit.
Herman Miller (MLHR) – The office furniture maker reported a quarterly profit of 11 cents a share, compared to consensus estimates of a loss of 10 cents a share. However, revenue was lower than Wall Street’s forecasts as sales fell 29% from a year earlier amid the Covid-19 pandemic.
Crocs (CROX) – The casual shoemaker was updated to “buy” from “hold” at Loop Capital Markets, which cites the brand’s momentum. Loop also raised its price target on the stock to $ 40 from its previous $ 22.
.
