July 22, 2024

Brighton Journal

Complete News World

Peloton, Tesla, Winnebago, Dollar Tree, Intel and more stock market movers

Peloton, Tesla, Winnebago, Dollar Tree, Intel and more stock market movers

Patterson Corporation (PDCO) reported earnings and revenue that beat Wall Street estimates. Shares of the veterinary and dental supplies supplier jumped 14%.

Dollar Tree (DLTR) jumped 5.6% and was the main gainer in the Middle East

Standard & Poor’s 500.

The company said it expects to post earnings of $10 per share in fiscal 2026. That’s above analyst estimates of $8.51 per share, according to FactSet.

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Exact Sciences (EXAS) stock fell 4.2% after the company said at Investor Day that it expects 2023 revenue of $2.4 billion, below Wall Street’s estimate of $2.42 billion. The stock rose earlier in the session after the cancer screening and diagnostic company released positive results from a study of its home screening test, Cologuard.

Tesla (TSLA) fell 3.4% to $265.03 after analysts at Barclays downgraded the EV maker to Equal Weight from Overweight but raised its price target to $260 from $220.

Separately, CEO Elon Musk met with India’s prime minister, Narendra Modi, on Tuesday and said he was confident the electric car maker “will be in India and will do so as soon as humanly possible.” Modi has been pushing Tesla to make “big investments in India,” Musk said, and that’s “something we intend to do.”

Intel (INTC) fell 3.2% during the semiconductor company’s foundry event. The company said it would focus on making it foundry business more competitive. Fellow chipmaker Advanced Micro Devices

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(AMD) fell 4.7% and the S&P 500 was the biggest loser on Wednesday.

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Winnebago Industries (WGO), the recreational vehicle maker, fell 2.7% after reporting a 38% drop in fiscal third-quarter sales.

Furniture maker La-Z-Boy (LZB) said it expects fiscal first-quarter sales of between $470 million and $490 million, down $604.1 million a year earlier and less than analysts’ expectations of about $522 million. Shares fell 1%.

FedEx (FDX) fell 0.8% after the shipping giant reported fiscal fourth-quarter earnings that beat analyst estimates but issued disappointing guidance. The company said it expects earnings for the current fiscal year to be between $16.50 and $18.50 a share, up from about $15 a share in fiscal 2023. Wall Street had expected about $18.30 a share. FedEx also said it expects sales growth to be “steady to low single-digit” in fiscal 2024.

competitor shares

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United Parcel Service (UPS) fell 1.4%.

Amazon.com (AMZN) fell 0.8% to $124.73. The Federal Trade Commission is suing Amazon for allegedly trying to enroll consumers in Amazon Prime without their consent, making it extremely difficult to cancel subscriptions.

Analysts at Jefferies raised their price target on Amazon to $150 from $135, saying they see the company as a “primary beneficiary” of the rise of AI as “AWS benefits from increased use for training and running AI models.”

Write to Joe Woelfel at [email protected] and Angela Palumbo at [email protected]