Here are the biggest analyst calls of the day: Roku, Netflix, Tesla, Alphabet, Facebook & more

Needham’s Laura Martin raised her price target on the stock and said Roku would be the “winning aggregator” of TV and films. The stock rebounded in the premarket on Martin’s call after plunging 15% on Monday following a downgrade by Morgan Stanley. “In 2020, Roku’s key upside valuation driver will be accelerating subscription SVOD revenues, which lowers investment risk, we believe. In the US, we believe YouTube is the winning aggregator of user-generated videos and Roku will be the winning aggre


Needham’s Laura Martin raised her price target on the stock and said Roku would be the “winning aggregator” of TV and films.
The stock rebounded in the premarket on Martin’s call after plunging 15% on Monday following a downgrade by Morgan Stanley.
“In 2020, Roku’s key upside valuation driver will be accelerating subscription SVOD revenues, which lowers investment risk, we believe.
In the US, we believe YouTube is the winning aggregator of user-generated videos and Roku will be the winning aggre
Here are the biggest analyst calls of the day: Roku, Netflix, Tesla, Alphabet, Facebook & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-03  Authors: michael bloom
Keywords: news, cnbc, companies, key, films, believe, tesla, alphabet, stock, analyst, aggregator, roku, calls, winning, netflix, biggest, day, facebook, youtubes, risk


Here are the biggest analyst calls of the day: Roku, Netflix, Tesla, Alphabet, Facebook & more

Needham’s Laura Martin raised her price target on the stock and said Roku would be the “winning aggregator” of TV and films. The stock rebounded in the premarket on Martin’s call after plunging 15% on Monday following a downgrade by Morgan Stanley.

“In 2020, Roku’s key upside valuation driver will be accelerating subscription SVOD revenues, which lowers investment risk, we believe. Additionally, Disney+, Apple+, Peacock/CMCSA and HBOMax/AT&T should accelerate customer acquisition spending, and Roku is a key beneficiary owing to its installed base of 32mm US connected-TV homes. In the US, we believe YouTube is the winning aggregator of user-generated videos and Roku will be the winning aggregator of TV and films. We calculate that YouTube’s U.S. revenue is valued at over $100B. We raise our Roku PT to $200, from $150, based on falling risk.”


Company: cnbc, Activity: cnbc, Date: 2019-12-03  Authors: michael bloom
Keywords: news, cnbc, companies, key, films, believe, tesla, alphabet, stock, analyst, aggregator, roku, calls, winning, netflix, biggest, day, facebook, youtubes, risk


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Here are the biggest analyst calls of the day: Roku, Netflix, Tesla, Alphabet, Facebook & more

Needham’s Laura Martin raised her price target on the stock and said Roku would be the “winning aggregator” of TV and films. The stock rebounded in the premarket on Martin’s call after plunging 15% on Monday following a downgrade by Morgan Stanley. “In 2020, Roku’s key upside valuation driver will be accelerating subscription SVOD revenues, which lowers investment risk, we believe. In the US, we believe YouTube is the winning aggregator of user-generated videos and Roku will be the winning aggre


Needham’s Laura Martin raised her price target on the stock and said Roku would be the “winning aggregator” of TV and films.
The stock rebounded in the premarket on Martin’s call after plunging 15% on Monday following a downgrade by Morgan Stanley.
“In 2020, Roku’s key upside valuation driver will be accelerating subscription SVOD revenues, which lowers investment risk, we believe.
In the US, we believe YouTube is the winning aggregator of user-generated videos and Roku will be the winning aggre
Here are the biggest analyst calls of the day: Roku, Netflix, Tesla, Alphabet, Facebook & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-03  Authors: michael bloom
Keywords: news, cnbc, companies, key, films, believe, tesla, alphabet, stock, analyst, aggregator, roku, calls, winning, netflix, biggest, day, facebook, youtubes, risk


Here are the biggest analyst calls of the day: Roku, Netflix, Tesla, Alphabet, Facebook & more

Needham’s Laura Martin raised her price target on the stock and said Roku would be the “winning aggregator” of TV and films. The stock rebounded in the premarket on Martin’s call after plunging 15% on Monday following a downgrade by Morgan Stanley.

“In 2020, Roku’s key upside valuation driver will be accelerating subscription SVOD revenues, which lowers investment risk, we believe. Additionally, Disney+, Apple+, Peacock/CMCSA and HBOMax/AT&T should accelerate customer acquisition spending, and Roku is a key beneficiary owing to its installed base of 32mm US connected-TV homes. In the US, we believe YouTube is the winning aggregator of user-generated videos and Roku will be the winning aggregator of TV and films. We calculate that YouTube’s U.S. revenue is valued at over $100B. We raise our Roku PT to $200, from $150, based on falling risk.”


Company: cnbc, Activity: cnbc, Date: 2019-12-03  Authors: michael bloom
Keywords: news, cnbc, companies, key, films, believe, tesla, alphabet, stock, analyst, aggregator, roku, calls, winning, netflix, biggest, day, facebook, youtubes, risk


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Morgan Stanley downgrades Roku, one of the hottest stocks of 2019: ‘It’s all priced in’

A video sign displays the logo for Roku, after the company’s IPO at the Nasdaq Market in New York, September 28, 2017. Morgan Stanley lowered its rating on Roku to underweight from equal weight, saying the stock’s phenomenal climb this year fully reflects the company’s growth prospects and fails to recognize some key risks. “Roku shares are up over 400% YTD due to rising estimates and overall exuberance over all things streaming. Roku’s valuation levels have surged past digital media players and


A video sign displays the logo for Roku, after the company’s IPO at the Nasdaq Market in New York, September 28, 2017.
Morgan Stanley lowered its rating on Roku to underweight from equal weight, saying the stock’s phenomenal climb this year fully reflects the company’s growth prospects and fails to recognize some key risks.
“Roku shares are up over 400% YTD due to rising estimates and overall exuberance over all things streaming.
Roku’s valuation levels have surged past digital media players and
Morgan Stanley downgrades Roku, one of the hottest stocks of 2019: ‘It’s all priced in’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: michael sheetz
Keywords: news, cnbc, companies, stocks, note, companys, video, past, priced, 2019, york, weight, morgan, valuation, downgrades, hottest, stanley, roku, ytd


Morgan Stanley downgrades Roku, one of the hottest stocks of 2019: 'It's all priced in'

A video sign displays the logo for Roku, after the company’s IPO at the Nasdaq Market in New York, September 28, 2017.

Morgan Stanley lowered its rating on Roku to underweight from equal weight, saying the stock’s phenomenal climb this year fully reflects the company’s growth prospects and fails to recognize some key risks.

Roku’s stock fell more than 16% in trading on Monday.

“Roku shares are up over 400% YTD due to rising estimates and overall exuberance over all things streaming. As a result, we see the risk/reward skewed to the downside. Roku’s valuation levels have surged past digital media players and even past high-growth SAAS [software as a service] companies … despite structurally lower gross margins,” Morgan Stanley analyst Benjamin Swinburne said in a note to investors. The note was titled, “It’s all priced in.”


Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: michael sheetz
Keywords: news, cnbc, companies, stocks, note, companys, video, past, priced, 2019, york, weight, morgan, valuation, downgrades, hottest, stanley, roku, ytd


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Here are the biggest analyst calls of the day: Roku, Wells Fargo, Biogen & more

Here are the biggest calls on Wall Street on Monday:Morgan Stanley said in its downgraded that revenue and gross profit growth will slow meaningfully in 2020. “Roku continues to execute a sound strategy to capitalize on the shift to streaming. However, we believe there are risks to growth expectations not reflected in current valuation levels. Specifically, we think revenue and gross profit growth slow meaningfully in ’20 and the multiple compresses.” Read more about this call here.


Here are the biggest calls on Wall Street on Monday:Morgan Stanley said in its downgraded that revenue and gross profit growth will slow meaningfully in 2020.
“Roku continues to execute a sound strategy to capitalize on the shift to streaming.
However, we believe there are risks to growth expectations not reflected in current valuation levels.
Specifically, we think revenue and gross profit growth slow meaningfully in ’20 and the multiple compresses.”
Read more about this call here.
Here are the biggest analyst calls of the day: Roku, Wells Fargo, Biogen & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: michael bloom
Keywords: news, cnbc, companies, day, growth, wall, revenue, profit, fargo, wells, biogen, slow, street, analyst, biggest, valuation, gross, calls, meaningfully, think, roku


Here are the biggest analyst calls of the day: Roku, Wells Fargo, Biogen & more

Here are the biggest calls on Wall Street on Monday:

Morgan Stanley said in its downgraded that revenue and gross profit growth will slow meaningfully in 2020.

“Roku continues to execute a sound strategy to capitalize on the shift to streaming. However, we believe there are risks to growth expectations not reflected in current valuation levels. Specifically, we think revenue and gross profit growth slow meaningfully in ’20 and the multiple compresses.”

Read more about this call here.


Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: michael bloom
Keywords: news, cnbc, companies, day, growth, wall, revenue, profit, fargo, wells, biogen, slow, street, analyst, biggest, valuation, gross, calls, meaningfully, think, roku


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Here are the biggest analyst calls of the day: Roku, Wells Fargo, Biogen & more

Here are the biggest calls on Wall Street on Monday:Morgan Stanley said in its downgraded that revenue and gross profit growth will slow meaningfully in 2020. “Roku continues to execute a sound strategy to capitalize on the shift to streaming. However, we believe there are risks to growth expectations not reflected in current valuation levels. Specifically, we think revenue and gross profit growth slow meaningfully in ’20 and the multiple compresses.” Read more about this call here.


Here are the biggest calls on Wall Street on Monday:Morgan Stanley said in its downgraded that revenue and gross profit growth will slow meaningfully in 2020.
“Roku continues to execute a sound strategy to capitalize on the shift to streaming.
However, we believe there are risks to growth expectations not reflected in current valuation levels.
Specifically, we think revenue and gross profit growth slow meaningfully in ’20 and the multiple compresses.”
Read more about this call here.
Here are the biggest analyst calls of the day: Roku, Wells Fargo, Biogen & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: michael bloom
Keywords: news, cnbc, companies, day, growth, wall, revenue, profit, fargo, wells, biogen, slow, street, analyst, biggest, valuation, gross, calls, meaningfully, think, roku


Here are the biggest analyst calls of the day: Roku, Wells Fargo, Biogen & more

Here are the biggest calls on Wall Street on Monday:

Morgan Stanley said in its downgraded that revenue and gross profit growth will slow meaningfully in 2020.

“Roku continues to execute a sound strategy to capitalize on the shift to streaming. However, we believe there are risks to growth expectations not reflected in current valuation levels. Specifically, we think revenue and gross profit growth slow meaningfully in ’20 and the multiple compresses.”

Read more about this call here.


Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: michael bloom
Keywords: news, cnbc, companies, day, growth, wall, revenue, profit, fargo, wells, biogen, slow, street, analyst, biggest, valuation, gross, calls, meaningfully, think, roku


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Morgan Stanley downgrades Roku, one of the hottest stocks of 2019: ‘It’s all priced in’

A video sign displays the logo for Roku, after the company’s IPO at the Nasdaq Market in New York, September 28, 2017. Morgan Stanley lowered its rating on Roku to underweight from equal weight, saying the stock’s phenomenal climb this year fully reflects the company’s growth prospects and fails to recognize some key risks. “Roku shares are up over 400% YTD due to rising estimates and overall exuberance over all things streaming. Roku’s valuation levels have surged past digital media players and


A video sign displays the logo for Roku, after the company’s IPO at the Nasdaq Market in New York, September 28, 2017.
Morgan Stanley lowered its rating on Roku to underweight from equal weight, saying the stock’s phenomenal climb this year fully reflects the company’s growth prospects and fails to recognize some key risks.
“Roku shares are up over 400% YTD due to rising estimates and overall exuberance over all things streaming.
Roku’s valuation levels have surged past digital media players and
Morgan Stanley downgrades Roku, one of the hottest stocks of 2019: ‘It’s all priced in’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: michael sheetz
Keywords: news, cnbc, companies, stocks, note, companys, video, past, priced, 2019, york, weight, morgan, valuation, downgrades, hottest, stanley, roku, ytd


Morgan Stanley downgrades Roku, one of the hottest stocks of 2019: 'It's all priced in'

A video sign displays the logo for Roku, after the company’s IPO at the Nasdaq Market in New York, September 28, 2017.

Morgan Stanley lowered its rating on Roku to underweight from equal weight, saying the stock’s phenomenal climb this year fully reflects the company’s growth prospects and fails to recognize some key risks.

Roku’s stock fell more than 16% in trading on Monday.

“Roku shares are up over 400% YTD due to rising estimates and overall exuberance over all things streaming. As a result, we see the risk/reward skewed to the downside. Roku’s valuation levels have surged past digital media players and even past high-growth SAAS [software as a service] companies … despite structurally lower gross margins,” Morgan Stanley analyst Benjamin Swinburne said in a note to investors. The note was titled, “It’s all priced in.”


Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: michael sheetz
Keywords: news, cnbc, companies, stocks, note, companys, video, past, priced, 2019, york, weight, morgan, valuation, downgrades, hottest, stanley, roku, ytd


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Investors kick off December by bailing on hot momentum stocks like Roku

People pass by a video sign display with the logo for Roku, a Fox-backed video streaming firm, that held it’s IPO at the Nasdaq Marketsite in New York, September 28, 2017. The S&P 500 fell from its record high on Monday after the worse-than-expected manufacturing data sparked risk-off mood. Roku , which was up five-fold this year through Friday, tanked more than 16% Monday after a downgrade from Morgan Stanley. The biggest stock winners this year are leading the market decline on Monday as inves


People pass by a video sign display with the logo for Roku, a Fox-backed video streaming firm, that held it’s IPO at the Nasdaq Marketsite in New York, September 28, 2017.
The S&P 500 fell from its record high on Monday after the worse-than-expected manufacturing data sparked risk-off mood.
Roku , which was up five-fold this year through Friday, tanked more than 16% Monday after a downgrade from Morgan Stanley.
The biggest stock winners this year are leading the market decline on Monday as inves
Investors kick off December by bailing on hot momentum stocks like Roku Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: yun li
Keywords: news, cnbc, companies, investors, etf, things, momentum, kick, fell, stocks, biggest, market, volatility, high, bailing, roku, hot, video


Investors kick off December by bailing on hot momentum stocks like Roku

People pass by a video sign display with the logo for Roku, a Fox-backed video streaming firm, that held it’s IPO at the Nasdaq Marketsite in New York, September 28, 2017.

The S&P 500 fell from its record high on Monday after the worse-than-expected manufacturing data sparked risk-off mood. The iShares Edge MSCI USA Momentum Factor ETF (MTUM) , one of the biggest momentum-focused exchange traded funds with more than $9 billion of assets under management, fell 1.3% on Monday, more than the broader market. The ETF holds Visa and Mastercard , which both fell more than 2%.

The top 10 performers this year in the S&P 500 are all in the red on the first trading day of December. Roku , which was up five-fold this year through Friday, tanked more than 16% Monday after a downgrade from Morgan Stanley.

The biggest stock winners this year are leading the market decline on Monday as investors dumped momentum stocks after market sentiment turned sour.

Momentum strategies, which buy stocks on winning streaks and sell losers, have served investors well this year as growth-oriented technology names have led the market rally to records. The accelerated selling could be a sign that these stocks have gotten too high too fast and a turn of investor mood in the final month of a big up year.

“These things got pretty overbought,” said Christian Fromhertz, CEO of The Tribeca Trade Group. “If you look at the chart of IGV, the software ETF, that’s basically run in a straight line higher. Same thing with biotech … When things move that way, you’re going to see some correction in those names.”

The iShares Expanded Tech-Software Sector ETF (IGV) lost 2.3% on Monday alone after soaring nearly 7% this quarter and 30% this year. Its biggest holdings include Adobe, Microsoft and Salesforce, which are all down about 2% Monday.

Morgan Stanley downgraded Roku to underweight from equal weight on Monday. Roku’s phenomenal climb this year already fully reflects the company’s growth prospects and fails to recognize some key risks, the bank said.

The Cboe Volatility Index, a measure of the 30-day implied volatility of U.S. stocks also known as the VIX or “fear gauge,” jumped to a five-week high of 14.6 on Monday after weeks of tranquility.

— CNBC’s Fred Imbert contributed reporting.


Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: yun li
Keywords: news, cnbc, companies, investors, etf, things, momentum, kick, fell, stocks, biggest, market, volatility, high, bailing, roku, hot, video


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Stocks making the biggest moves midday: Roku, Wells Fargo, Deere, Apache & more

The firm said the risk versus reward of Roku is “skewed to the downside” after the stock’s more than 400% climb this year. Wells Fargo — Shares of the United States-based bank slid more than 1% following a downgrade to underperform at Raymond James. Deere — An analyst at Bank of America downgraded the stock to underperform from neutral, sending Deere down 1.2%. Macy’s — The landmark department store retail gained 0.6% as the start of the holiday season sent American consumers on the hunt for Cyb


The firm said the risk versus reward of Roku is “skewed to the downside” after the stock’s more than 400% climb this year.
Wells Fargo — Shares of the United States-based bank slid more than 1% following a downgrade to underperform at Raymond James.
Deere — An analyst at Bank of America downgraded the stock to underperform from neutral, sending Deere down 1.2%.
Macy’s — The landmark department store retail gained 0.6% as the start of the holiday season sent American consumers on the hunt for Cyb
Stocks making the biggest moves midday: Roku, Wells Fargo, Deere, Apache & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: fred imbert
Keywords: news, cnbc, companies, oil, midday, store, deere, apache, stocks, biggest, downgraded, fargo, shares, underperform, gained, trading, stock, wells, bank, roku, moves, making, company


Stocks making the biggest moves midday: Roku, Wells Fargo, Deere, Apache & more

A shopper carries an Insignia Roku TV television at a Best Buy Co. store in Louisville, Kentucky, U.S.,

Check out the companies making headlines midday Monday:

Roku — Shares of the streaming video device-maker plunged 16% after Morgan Stanley downgraded Roku’s stock to underweight. The firm said the risk versus reward of Roku is “skewed to the downside” after the stock’s more than 400% climb this year.

Wells Fargo — Shares of the United States-based bank slid more than 1% following a downgrade to underperform at Raymond James. The firm said it expects the bank’s revenue to shrink in 2020, which would be the fourth straight year of contraction, and that the stock remains expensive despite declining profitability.

Deere — An analyst at Bank of America downgraded the stock to underperform from neutral, sending Deere down 1.2%. The analyst cited the company’s “disappointing” earnings outlook for the downgrade.

Apache — Shares of the oil exploration and production company plummeted more than 12% after the company said that “further testing and evaluation will be conducted” at its drilling site in Suriname. The stock is currently trading at its lowest level since 2001.

Macy’s — The landmark department store retail gained 0.6% as the start of the holiday season sent American consumers on the hunt for Cyber Monday bargains. Others suggested that any one-day gain in Macy’s could instead be the result of short sellers covering their positions and locking in a hefty year-to-date profit thanks to the stock’s 2019 decline of 48%, the worst performance of any S&P 500 component.

ADT —ADT fell 1% in midday trading after Bank of America Merrill Lynch downgraded the stock from buy to neutral on the heels of its 52% rally in 2019. Analysts Gary Bisbee and Jay Hanna wrote that they see few catalysts in the near term that could usher a significant move higher in the alarm maker’s equity.

Marathon Oil — Shares of the oil company gained more than 2% on the back of a surge in oil prices. Ahead of Thursday’s bi-annual meeting of OPEC and its allies, WTI crude and global benchmark Brent both moved higher based on hopes that the cartel will extend production cuts. Halliburton, Schlumberger, Diamondback Energy and Concho Resources all gained more than 1%.

McDermott International — Shares of the engineering and construction company jumped more than 5% on news it reached a forbearance agreement with its creditors. The forbearance agreement, which was reached with holders of more than 35% of McDermott’s senior notes due in 2024, runs through Jan. 15, 2020.

—CNBC’s Pippa Stevens, Michael Sheetz and Tom Franck contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: fred imbert
Keywords: news, cnbc, companies, oil, midday, store, deere, apache, stocks, biggest, downgraded, fargo, shares, underperform, gained, trading, stock, wells, bank, roku, moves, making, company


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Roku stock slides after it says it will sell up to 1 million shares

People pass by a video sign display with the logo for Roku, a Fox-backed video streaming firm, that held it’s IPO at the Nasdaq Marketsite in New York, September 28, 2017. Shares of Roku fell as much as 5.3% on Tuesday after the company said it plans to offer up to 1 million shares of common stock. Roku has entered into a distribution agreement with Citigroup to conduct the offering, under which it plans to sell up to 1 million shares of common stock “from time to time,” according to a filing wi


People pass by a video sign display with the logo for Roku, a Fox-backed video streaming firm, that held it’s IPO at the Nasdaq Marketsite in New York, September 28, 2017.
Shares of Roku fell as much as 5.3% on Tuesday after the company said it plans to offer up to 1 million shares of common stock.
Roku has entered into a distribution agreement with Citigroup to conduct the offering, under which it plans to sell up to 1 million shares of common stock “from time to time,” according to a filing wi
Roku stock slides after it says it will sell up to 1 million shares Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-19  Authors: annie palmer
Keywords: news, cnbc, companies, proceeds, streaming, company, roku, video, stock, potential, sell, plans, shares, slides, million


Roku stock slides after it says it will sell up to 1 million shares

People pass by a video sign display with the logo for Roku, a Fox-backed video streaming firm, that held it’s IPO at the Nasdaq Marketsite in New York, September 28, 2017.

Shares of Roku fell as much as 5.3% on Tuesday after the company said it plans to offer up to 1 million shares of common stock.

Roku has entered into a distribution agreement with Citigroup to conduct the offering, under which it plans to sell up to 1 million shares of common stock “from time to time,” according to a filing with the U.S. Securities and Exchange Commission.

The company said it will use the proceeds to fund capital expenditures and operating expenses associated with running the business, including marketing activities and repayment of debt, among other purposes. It said the proceeds could also be used to “acquire or invest in businesses, products and technologies” that complement the company, but that it has no commitments to do so currently.

Roku also disclosed in the filing that some shareholders would be selling up to 571,459 shares as part of an agreement tied to its acquisition of ad tech company Dataxu. The acquisition, first announced in October, closed earlier this month.

It comes as Roku stock has been on a tear so far this year, surging more than 422.5% year to date. Analysts have largely remained bullish on the stock due to its potential for massive user growth overseas and potential for future partnerships with streaming providers. Last month, Roku announced Apple’s Apple TV app would be available on its platform.


Company: cnbc, Activity: cnbc, Date: 2019-11-19  Authors: annie palmer
Keywords: news, cnbc, companies, proceeds, streaming, company, roku, video, stock, potential, sell, plans, shares, slides, million


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Stocks making the biggest moves midday: Home Depot, Kohl’s, Macy’s and Roku

Kohl’s — Shares of the retailer tanked more than 17% after reporting dismal quarterly earnings and lowering its profit outlook for the year. The company reported earnings of 74 cents per share on revenue of $4.36 billion. Macy’s — Shares of the department store tanked more than 10% as investors worried weaker results from Kohl’s could mean the same slower spending at Macy’s. Shares of retailer Gap also fell 3% and Nordstrom dropped 6% amid the overall fall in retail stocks. TJX reported earnings


Kohl’s — Shares of the retailer tanked more than 17% after reporting dismal quarterly earnings and lowering its profit outlook for the year.
The company reported earnings of 74 cents per share on revenue of $4.36 billion.
Macy’s — Shares of the department store tanked more than 10% as investors worried weaker results from Kohl’s could mean the same slower spending at Macy’s.
Shares of retailer Gap also fell 3% and Nordstrom dropped 6% amid the overall fall in retail stocks.
TJX reported earnings
Stocks making the biggest moves midday: Home Depot, Kohl’s, Macy’s and Roku Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-19  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, earnings, revenue, stocks, tanked, cents, roku, fell, company, kohls, billion, making, moves, depot, shares, stock, retailer, biggest, midday, macys


Stocks making the biggest moves midday: Home Depot, Kohl's, Macy's and Roku

Check out the companies making headlines in midday trading.

Home Depot — Shares of the home improvement retailer fell 5% after after the company once again cut its 2019 forecast and reported same-store sales growth of 3.6%, well below the expected growth of 4.7%. Revenue for the third quarter also missed estimates, coming in at $27.22 billion, compared to the $27.53 billion expected, according to Refinitiv.

Kohl’s — Shares of the retailer tanked more than 17% after reporting dismal quarterly earnings and lowering its profit outlook for the year. The company reported earnings of 74 cents per share on revenue of $4.36 billion. Wall Street expected earnings of 86 cents per share on revenue of $4.40 billion, according to Refinitiv. Same-store sales also missed analysts’ forecasts.

Macy’s — Shares of the department store tanked more than 10% as investors worried weaker results from Kohl’s could mean the same slower spending at Macy’s. Shares of retailer Gap also fell 3% and Nordstrom dropped 6% amid the overall fall in retail stocks. Macy’s stock also dipped on reports of a customer data breach on October.

Slack — Shares of the messaging platform tanked nearly 10% after Microsoft said its Teams communication app now has over 20 million daily active users. Microsoft’s user numbers have more than doubled since its last usage announcement.

TJX — Shares of the retailer rose nearly 2% after reporting strong quarterly results. TJX reported earnings of 68 cents on revenue of $10.451 billion, while analysts forecast earnings of 66 cents on revenue of $10.316 billion, according to Refinitiv. Same-store sales rose 4%, topping estimates of 2.3% and the department store company raised its full-year earnings guidance.

AT&T — Shares of AT&T fell 4% after MoffettNathanson downgraded the stock to sell from neutral. The firm said strength in the company’s wireless business, which represents 40% of revenues, likely won’t be able to offset weakness in its other 60% of its struggling businesses.

Roku — Shares of the streaming device maker dropped more than 5% after the company announced plans to sell up to 1 million shares in a bid to raise capital. The company said it will use the proceeds for operating expenses and capital expenditures, as well as to fund any future acquisitions. Shares have surged almost 400% this year.

Broadcom — Shares of the chip maker gained more than 2% after Morgan Stanley upgraded the stock to an overweight rating. The firm said that the extension into software could be a value creator, and that the company already has a “strong position” in the semiconductor sector. Morgan Stanley raised its target on the stock to $367 from $298.

MSG Networks — Shares of MSG Networks dropped 4% after Guggenheim downgraded the stock to sell from neutral. The firm cited a “challenged negotiating position as it approaches contract renewals covering ~40% of its subscriber base.”

PG&E — Shares of the California electric company fell more than 2% on a Bloomberg report that said the company is nearing a settlement of more than $1.7 billion with state regulators for maintenance failure of equipment involved in the 2017 wildfires.

—CNBC’s Pippa Stevens contributed reporting.


Company: cnbc, Activity: cnbc, Date: 2019-11-19  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, earnings, revenue, stocks, tanked, cents, roku, fell, company, kohls, billion, making, moves, depot, shares, stock, retailer, biggest, midday, macys


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