Micron Expertise’s exhausting drive for knowledge middle prospects is offered at a product launch occasion in San Francisco, October 24, 2019.
Stephen Nellis | Reuters
Take a look at the businesses making headlines in noon buying and selling.
Micron — Micron traded greater than 6% greater after the chip producer posted better-than-expected outcomes for the earlier quarter. The corporate posted an adjusted revenue of 82 cents per share, topping a Refinitiv estimate of 77 cents. Revenues rose to $5.44 billion, beating an estimate of $5.31 billion. Micron additionally issued better-than-expected income steering for the present quarter.
Lululemon — Shares of Lululemon popped greater than 4% after the athleisure and activewear firm stated it’s buying the in-home fitness company Mirror for $500 million. The transfer marks Lululemon’s first acquisition and it is seen as a guess on the stay-at-home pattern within the wake of the pandemic. The deal, which can be paid for in money, is predicted to shut within the second quarter of fiscal 2020.
Boeing — Shares of the airplane maker slid greater than 6% after Norwegian Air stated it was canceling an order for practically 100 jets. The airline additionally stated that it could search fee for the grounding of its Boeing 737 Max planes.
Uber — Shares of the journey hailing firm jumped 4.5% after the Wall Street Journal reported Uber is in discussions to purchase meals supply service Postmates for $2.6 billion. Uber just lately misplaced out on the acquisition of meals supply firm GrubHub.
Xilinx — Shares of Xilinx soared practically 7% after the chip maker raised its fiscal first quarter income steering. Xilinx now expects a income of $720 million to $734 million, after beforehand projecting a variety of $660 million to $720 million. The corporate stated its income energy partially got here from loosening of restrictions on gross sales to its worldwide prospects helped its enterprise.
Conagra — Shares of the meals producer jumped greater than 3% after the corporate beat high and backside strains estimates within the fourth quarter. The corporate additionally gave upbeat steering amid elevated demand fueled by the coronavirus pandemic.
Goldman Sachs, JPMorgan, Wells Fargo — Shares of main banks rose on Tuesday after the a lot of the corporations introduced on Monday night time that they deliberate to keep up their dividends after the Fed’s stress check. Goldman Sachs and JPMorgan each gained greater than 1%. Wells Fargo, which stated it can probably announce a dividend reduce subsequent month, opened in unfavorable territory however has now inched 0.3% greater.
Carnival, Norwegian Cruise Line, Royal Caribbean Cruises — Shares of cruise strains dropped on Tuesday amid an uptick in coronavirus circumstances and rollback in some reopening measures. Shares of Norwegian Cruise Line fell 1.3% and shares of Carnival Corp. dropped 1.5%. Royal Caribbean ticked 1.4% decrease.
FedEx — Shares of the delivery firm rose practically 3% forward of its fourth quarter earnings, which can be launched after the bell on Tuesday. Analysts predict the corporate to earn $1.58 per share on $16.41 billion in income, in response to Refinitiv. Shares of FedEx are down 8% this yr.
Tesla — Shares of the electrical automotive marker jumped 7% on Tuesday after Elon Musk sent an email to employees saying the automotive firm may break even for the quarter, in response to an inner memo reviewed by CNBC.
– with reporting from CNBC’s Pippa Stevens, Jesse Pound and Yun Li.