Stock Groups

Tesla, Netflix, Intel and more


Reed Hastings is CEO at Netflix

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Below are notable stock moves made on Thursday January 27, 2019.

Tesla — Shares of the automaker fell more than 8% despite Tesla’s beating estimates on the top and bottom lines for the fourth quarter. According to the company, supply chain issues could affect production in 2022. It also announced it wouldn’t be launching any new models this year. disappointing some Wall Street analysts.

Netflix — The streaming giant’s shares jumped more than 7% after Pershing Square’s Bill Ackman revealed Wednesday evening that he purchased more than 3.1 million sharesAckman became a top-20 shareholder. Ackman stated that he bought the dip after Netflix experienced a sharp sell-off due to slowing subscriber growth.

Intel — Shares of the chip stock fell 7% despite Intel’s reporting better-than-expected fourth-quarter earningsGood guidance and upbeat attitude. The largest Intel business, Intel’s Client Computing Group was down by 7% over the year to $10.1 million, although it still beat analyst’s average estimate at $9.6 billion according to FactSet.

ServiceNow – ServiceNow shares jumped more than 8% following the company’s fourth-quarter results. This cloud software company was able to earn $1.46 per sen, exempting items of $1.61 Billion in revenue. Refinitiv estimates that analysts had expected to see the company earn $1.43 for each $1.60 billion revenue. Piper Sandler, who cited “strong fundamentals”, upgraded the stock from an underweight rating to an overweight following the report.

Corning – The materials stock jumped 3.2% after Goldman Sachs upgraded Corning to buy from neutral. After a solid earnings report, shares gained 11% Wednesday.

McCormick — Shares of the food company rose 6% after beating on the top and bottom lines of its quarterly results. McCormick’s share price was 84c, beating analysts estimates by 4 cents. This was a higher revenue figure than $1.71 billion forecast.

Teradyne – Shares of the automation company dove 27% after Teradyne issued first-quarter guidance that was well below Wall Street expectations for earnings and revenue. According to the company, there will be slower demand in its most important end markets until 2022. According to StreetAccount, FactSet, Teradyne outperformed estimates for the top and bottom line of 2022.

Lam Research – Lam shares slid by about 7.5% despite the semiconductor company reporting strong quarterly earnings. Also, it reported revenue that was below estimates. It issued a weaker than expected quarterly forecast due to ongoing supply chain issues.

Seagate Technology – The data solutions company saw its shares soar by more than 11% after it raised its long-term profit margin target in its quarterly earnings report.

Packaging Corp. of America – Shares of the containerboard company jumped nearly 10% after a stronger-than-expected fourth quarter. StreetAccount from FactSet shows that the revenue of $2.04 Billion was more than expected. Packaging Corp.’s earnings guidance for the first quarter also exceeded expectations.

Ball Corp. – The packaging stock surged 8.7% after the company beat expectations on the top and bottom lines for the fourth quarter, according to estimates from FactSet’s StreetAccount. According to the company, demand for its products “continues outpace supply”.

Planet Labs – Shares of the Earth-imaging platform company popped more than 3% after investment firm Needham initiated coverage of Planet Labs at buy. Needham stated that the company sees an acceleration in revenue growth.