Stocks traded lower Thursday as headline consumer prices rose in September slightly more than expected.
These stocks were making moves Thursday:
Ford
(F) was down 2.4% after the United Auto Workers union called a strike at the auto maker’s Kentucky Truck Plant in Louisville. With nearly 9,000 workers, the Kentucky plant is Ford’s largest in the world. The union said the surprise move marked a “new phase” in its ongoing strike.
Delta Air Lines
(DAL) reported third-quarter adjusted earnings of $2.03 a share, beating analysts’ estimates of $1.95 a share Revenue of $14.6 billion beat forecasts of $14.5 billion. The carrier adjusted its fiscal earnings view, saying it expects adjusted earnings in 2023 of $6 to $6.25 a share. Shares of Delta rose 0.6%.
Walgreens Boots Alliance
(WBA) was up 0.7%, reversing earlier losses after the global pharmacy chain’s fiscal fourth-quarter adjusted earnings missed estimates and the company issued a forecast for fiscal 2024 below Wall Street expectations.
Fastenal
(FAST) was up 5.2% after the industrial distributor’s third-quarter earnings topped forecasts.
Domino’s Pizza
(DPZ) earned $4.18 a share in the third quarter, beating analysts’ estimates of $3.31, but revenue of $1.03 billion fell from a year earlier and missed forecasts of $1.05 billion. The stock was up 2.3%.
First Solar
(FSLR) was upgraded to Overweight from Equal Weight at
Barclays
and the price target was reduced to $224 from $230. Shares of the solar company rose 1.1% to $153.10.
Target
(TGT) rose 2% to $111.12. Shares of the retailer were upgraded to Buy from Neutral at
BofA
and the stock’s price target was raised to $135 from $120.
Birkenstock
(BIRK) was down 0.4% to $40.36 following its disappointing trading debut. The German shoe maker’s initial public offering was priced at $46 a share, and the stock opened Wednesday at $41, down 11% from the IPO price.
Birkenstock
closed the day down 12.6% at $40.20.
Victoria’s Secret
(VSCO) said it expects an adjusted third-quarter operating loss in the range of $45 million to $65 million, compared with previous guidance ranging from a loss of $45 million to $75 million. The company, a maker of bras, lingerie and sleepwear, also said it sees an adjusted net loss of between 70 cents to 90 cents a share, instead of 70 cents to $1.
Victoria’s Secret
said its international sales growth “has been ahead of plan” and sales trends in North America “continue to improve each month as planned.” Shares rose 1.5%.
Write to Joe Woelfel at [email protected]
Read the full article here