Stocks on Wall Street surged after U.S. inflation cooled in October.
Dreamstime
Stocks rose sharply Tuesday as U.S. inflation cooled significantly in October, largely because of falling gasoline prices.
These stocks made moves Tuesday:
Home Depot
(HD) reported third-quarter earnings that beat analysts’ estimates and the stock rose 5.4%. The home-improvement retailer said same-store sales in the period declined 3.1%. U.S. same-store sales fell 3.5%.
Home Depot
said it expects fiscal-year same-store sales to fall 3% to 4%. It expects per-share earnings in the fiscal year down 9% to 11%.
Fisker
(FSR) slid 19% after the electric-vehicle maker reported a wider-than-expected third-quarter loss and sales of $71.8 million that missed estimates of $143.1 million.
Fisker
said it expects to produce 13,000 to 17,000 units this year. In August, the company said it planned to build about 20,000 to 23,000 units, which was trimmed from earlier guidance.
Tesla
(TSLA) jumped 6.1% to $237.41 after shares of the EV maker closed 4.2% higher on Monday. The gains in Tuesday’s session put the price up about $25 from where it closed last Thursday, when HSBC analyst Michael Tyndall launched coverage of the stock with a Sell rating and a price target of $146.
Nvidia
(NVDA) closed up 2.1%, extending the stock’s winning streak to 10 sessions. That ties the longest winning streak for
Nvidia
since Dec. 27, 2016, when it rose for 10 trading days in a row, according to Dow Jones Market Data. On Monday, Nvidia unveiled its newest artificial-intelligence chip.
Snap
(SNAP) rose 7.5% after
Amazon.com
(AMZN) said it would allow
Snapchat
users in the U.S. to buy some products listed on the e-commerce giant’s website directly from the Snapchat app, Reuters reported.
VF Corp.
(VFC) was among the leading performers in the
S&P 500,
rising 10% to $15.57. The stock was on track for its best day in decades, offering investors a much-needed lift after the parent company of Vans and The North Face turned in disappointing quarterly results last month.
Canadian Solar
(CSIQ) fell 2.9% after third-quarter earnings missed analysts’ estimates by a wide margin and the company’s revenue forecast for the fourth quarter was well below expectations.
Azenta
(AZTA) was up 14% after the life-sciences company reported fourth-quarter earnings that beat analysts’ expectations and said it would buy back an extra $500 million in stock in fiscal 2024.
Take-Two Interactive Software
(TTWO) was up 2.2% to $153.40 after the videogame publisher was upgraded to Buy from Hold at
Deutsche Bank
and the price target was boosted to $175 from $155.
Write to Joe Woelfel at [email protected]
Read the full article here
