Canada Goose — The coat maker jumped more than 12% after beating Wall Street estimates for sales and profit in its fiscal fourth quarter. Canada Goose said a key profit margin metric “will increase approximately 100 basis points from fiscal 2024” this year.
Walmart — The big-box retailer jumped 4.7% after reporting first-quarter adjusted earnings of 60 cents per shareholder, beating the 52 cents expected by analysts polled by LSEG. Revenue came in at $161.5 billion, beating the consensus estimate of $159.5 billion. Walmart said it has made big strides in e-commerce and won over more high-income shoppers.
Chubb — Shares of the insurance company soared more than 8.1% ahead of Thursday’s open after Warren Buffett’s Berkshire Hathaway revealed that Chubb was the secret stock the conglomerate was accumulating. Berkshire purchased nearly 26 million shares for about $6.7 billion, making it Chubb’s second-largest holder, according to a regulatory filing.
Cisco Systems – Networking equipment stock gained 3% after reporting stronger-than-expected third-quarter fiscal results. Cisco Systems also raised its revenue forecast for 2024, saying it now expects revenue of $53.7 billion, in the middle of a range.
Meme Stocks – Shares of AMC and GameStop extended their losses after the meme stock movement resumed Monday and Tuesday. Shares of movie theater chain AMC fell nearly 11% on Thursday, while GameStop fell about 14%. However, during the week, shares of AMC and GameStop soared over 80% and 140%, respectively.
Deere & Company — The agricultural equipment maker fell nearly 6% after lowering its full-year outlook. Deere now expects net income of about $7 billion in 2024, up from a previous estimate of $7.75 billion.
Baidu — Shares of the Chinese technology company rose less than 1% after reporting first-quarter results. Baidu reported revenue of CNY31.51 billion ($4.7 billion), beating the CNY31.34 billion expected by analysts, according to StreetAccount.
GoodRX — The healthcare sector stock climbed about 6% following an upgrade to outperform from Raymond James early Thursday. Analyst John Ransom noted that he views “the growth story here favorably, with potential for higher numbers” and that the company’s full-year guidance is relatively cautious.
Coupang — The Seattle-based e-commerce company rose 3.1%. UBS upgraded its shares to buy from neutral, citing its “expanding portfolio and strong logistics network.”
Dell — Shares rose 2% after Evercore ISI raised its price target on what the company called a growing artificial intelligence opportunity that could include Tesla as a customer.
Meta Platforms — Shares fell 0.5% after the European Union opened an investigation into Meta, focused on child safety issues on social media platforms Facebook and Instagram.
— CNBC’s Michelle Fox, Hakyung Kim, Sarah Min, Samantha Subin and Jesse Pound contributed reporting
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News Source : www.cnbc.com
