Nike (NKE) â Nike reported quarterly earnings of 95 cents per share, more than doubling the consensus estimate of 47 cents. Revenue also beat forecasts, with online sales surging 82 percent and now making up nearly a third of the athletic apparel and footwear maker’s total revenue.
General Mills (GIS) â The food producer earned $1.00 per share for its latest quarter, beating estimates by 13 cents a share. Revenue also beat forecasts as demand for at-home packaged foods remained elevated due to the Covid-19 pandemic. General Mills also announced a 4% hike in its quarterly dividend to 51 cents per share.
Johnson & Johnson (JNJ) â J&J’s Covid-19 vaccine candidate has entered late-stage testing, making it the fourth company backed by the White House’s « Operation Warp Speed » program to achieve that status following Moderna (MRNA), Pfizer (PFE) and AstraZeneca (AZN).
KKR (KKR) â The private-equity firm struck a deal to buy contact lens seller 1-800 Contacts from current owner AEA Investors. Terms were not disclosed, but Bloomberg had reported that the two sides were discussing a price higher than $3 billion.
Gores Holding (GHIV) â The special purpose acquisition company will merge with wholesale mortgage originator United Wholesale Mortgage and take it public. The deal values United Wholesale at $16.1 billon, a record high for a SPAC-related transaction.
KB Home (KBH) â KB Home beat estimates by 30 cents a share, with quarterly profit of 83 cents per share. The home builder’s revenue also came in above Wall Street forecasts. Net new orders were up 27% from a year earlier, as the pandemic and an increase in stay-at-home workers boost demand for homes.
Stitch Fix (SFIX) â Stitch Fix lost 44 cents per share for its latest quarter, wider than the 16 cents a share loss anticipated by analysts. The online clothing styling company’s revenue beat estimates, with a 9% increase in active clients compared to a year earlier.
Shopify (SHOP) â Shopify disclosed a data breach which it said affected fewer than 200 merchants who use its e-commerce platform. Shopify said the breach was an attempt by two now-fired workers to gain transaction records, and that so far, it has not found any evidence of the data being utilized for any purpose.
Cubic Corp. (CUB) â Cubic received a takeover bid of an undisclosed amount from Elliott Management and buyout firm Veritas Capital, according to people familiar with the matter who spoke to Reuters. The bid follows weeks of private talks with the provider of defense and transportation technology. Earlier this week, Cubic announced the adoption of a so-called « poison pill » after Elliott took a 15% stake.
Tesla (TSLA) â The stock was named a « bearish Fresh Pick » at Baird, which said that although the advancements announced at Tesla’s « Battery Day » were impressive, the stock’s current price already reflects Tesla’s disruption potential. However, Deutsche Bank is taking an opposite view, upgrading Tesla to « buy » from « hold » and saying the « Battery Day » presentation showcased an impressive trajectory for Tesla’s technology.
3M (MMM) â 3M is exploring the sale of its food safety business, according to a Bloomberg report. The unit could draw up to $3.5 billion in a sale, according to people with knowledge of the matter.
Walmart (WMT) â Walmart plans to hire more than 20,000 holiday season workers for its e-commerce fulfillment centers, anticipating a significant increase in online holiday shopping.
Oracle (ORCL) â Oracle did not engage in intentional compensation discrimination, according to a ruling from a Labor Department Administration Law judge. The case against the business software giant took four years to resolve, with the business software giant saying it should not have been brought in the first place.
Lululemon (LULU) â Lululemon resumed a stock buyback program that had been halted due to the COVID-19 pandemic. The athletic apparel maker’s buyback program has $263.6 million left in a program that is due to expire on January 31.
Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.
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