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Home»Finance News»HOOD, BBWI, MSTR, M and more
Finance News

HOOD, BBWI, MSTR, M and more

December 1, 2024No Comments3 Mins Read
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Check out the companies making headlines in premarket trading: Bath & Body Works — Shares popped 16% after third-quarter earnings edged out Wall Street forecasts. The retailer earned 49 cents per share, excluding items, on revenue of $1.61 billion, while analysts polled by LSEG had anticipated earnings of 47 cents per share and revenue of $1.58 billion. Robinhood — Shares of the brokerage firm rose more than 7% after Morgan Stanley upgraded the stock to overweight from equal weight. The investment firm said Robinhood’s revenue growth could be stronger postelection due to more active trading of stocks and crypto deregulation. Macy’s — Shares of the retailer fell 3% after Macy’s said it was delaying its official third-quarter results due to discovering that an employee had intentionally made incorrect accounting entries to hide delivery expenses. The errors took place over several years and amounted to between $132 million and $154 million. Macy’s said the accounting issues do not appear to have had an effect on the company’s cash position. Abercrombie & Fitch — Shares rose 3% ahead of its third-quarter earnings expected Tuesday before the bell. Analysts polled by FactSet expect the clothing retailer to report earnings of $2.39 per share on revenue of $1.19 billion, with roughly $631.5 million in sales from Abercrombie and $557 million from its Hollister brand. Shares are up more than 15% this month, as investors have grown more enthusiastic after apparel retailer Gap raised its full-year outlook given a strong start to the holiday shopping season. Target — Shares gained nearly 2% after Oppenheimer listed the retailer as a top pick, citing an improved risk-to-reward skew. Target’s stock is down about 12% for the year and the stock’s dividend yield is very “attractive,” the firm said. MicroStrategy — The bitcoin development company’s stock jumped 3% after Bernstein more than doubled its price target to $600 from $290, suggesting more than 40% upside from Friday’s close. Shares have soared about 568% so far this year. Sally Beauty Holdings — Shares advanced nearly 3% following an upgrade to buy from hold at TD Cowen. Analyst Oliver Chen highlighted the beauty products retailer’s strong free cash flow and attractive valuation. Santander — The bank stock gained 2% after a Morgan Stanley upgrade to overweight from equal weight, citing resilience tied to its capital generation. Arm Holdings — Shares rose more than 1% after UBS initiated coverage of the chipmaker with a buy rating, citing upside from artificial intelligence demand. — CNBC’s Jesse Pound, Alex Harring, Michelle Fox, Samantha Subin and Pia Singh contributed reporting.

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