Micron Technology headquarters in Boise, Idaho, March 28, 2021.
Jeremy Erickson | Bloomberg | Getty Images
Check out the companies making headlines Tuesday afternoon.
guarantee – Shares rose 4.1% on Tuesday after Citi upgraded the Brazilian payments stock to buy from neutral. Calling the company’s fourth-quarter earnings unsurprising, the company said it’s still in rough water but shares are more attractive after recent underperformance. Stonealso upgraded to neutral by Citi also rose on Tuesday.
Confirm — The pay later service fell 7.3% after Apple announced a competing service. Apple shares lost about 0.9%.
Western Petroleum – Energy stock rose 4.3% on Tuesday after a regulatory filing showed Berkshire Hathaway bought another 3.7 million shares for $216 million from Warren Buffett on Monday and last Thursday. TD Cowen upgraded Occidental after the news to outperform the market.
Micron technology – The semiconductor stock fell 0.85% ahead of its scheduled second-quarter earnings report after Tuesday’s bell. Analysts are expecting revenue of $3.71 billion and a loss per share of 67 cents, according to FactSet. Micron’s shares are up more than 18.5% over the past six months.
PVH — Shares rose 20% after the apparel company’s adjusted earnings per share came in at $2.38 in the fourth quarter, beating estimates of $1.67 per Refinitiv. Revenue of $2.49 billion beat expectations of $2.37 billion. PVH’s guidance for the first quarter and full year also beat estimates.
Outstanding — Shares of the media giant rose 3.1% during Tuesday’s trading session after Bank of America upgraded its rating from neutral to buy. The bank highlighted Paramount’s strong lineup of assets that could help the company if it puts it up for sale.
McCormick & Co — The spice maker’s share price rose 9.6% after it reported better-than-expected earnings for the first quarter. McCormick reported quarterly earnings of 59 cents a share, while analysts polled by FactSet were expecting 50 cents a share.
Ali Baba — Shares rose nearly 14.3% after the e-commerce giant announced it would split its company into six separate business groups, with each group having the potential to raise debt capital and go public.
Respect – The tech company was up about 4.7% on Tuesday after Raymond James upgraded the stock from an outperform to a strong buy.
Walgreen’s Boots Alliance – Shares of the pharmacy giant rose more than 2.7% after the company reported a rise in its quarterly sales despite a sharp drop in demand for Covid tests and vaccines. According to Refinitiv, Walgreens made $34.86 billion in revenue last quarter, compared to analyst estimates of $33.53 billion.
carnival corp — The cruise line’s share price rose 6.1% on Tuesday after Wells Fargo upgraded Carnival from underweight to equal weight. The company said it sees a more balanced risk/reward trade-off for the company
– CNBC’s Alex Harring, Yun Li, Jesse Pound and Michelle Fox Theobald contributed coverage.
Correction: According to FactSet, Micron is expected to post a loss of 67 cents per share. In an earlier version, the estimate was given incorrectly.
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2023-03-28 20:05:32
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