Dollar General, Occidental Petroleum, Guess and more
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On Wednesday, September 10, 2014, a customer entered a Dollar General Corp. Store in Colona (Illinois), U.S.A.
Getty Images| Bloomberg | Getty Images
These are the headline-grabbing companies in midday trading.
Dollar General — Shares of the discount retail chain gained 2.8% despite a weaker than expected fourth-quarter report. According to Refinitiv, Dollar General posted $8.65 Billion in revenue for its quarter. This is below analysts’ expectations of $8.7B. Refinitiv reported that the company earned $2.57 per share, which was in line with expectations. Analysts cited Dollar General’s positive outlook as an indicator of strength.
Signet Jewelers — Shares of the jewelry company popped more than 3% in midday trading after reporting same-store sales above consensus estimates. Refinitiv reported that per-share earnings were consistent with Wall Street expectations, while quarterly revenues surpassed Wall Street estimates.
PagerDuty — Shares rallied 17% after PagerDuty posted a better-than-expected quarterly report. For its most recent quarter, the company suffered an adjustment loss of 4 cents per share. This beats Refinitiv’s consensus estimate by 2 cents. PagerDuty released a positive revenue forecast for the digital operations platform provider.
Occidental Petroleum — The energy stock rose 8% after Warren Buffett’s Berkshire Hathaway purchased an additional 18.1 million shares of Occidental. A filing with the Securities and Exchange Commission on Wednesday shows it paid a weighted average of $54.41 per share, a total of $985 million for the new shares.
Guess — The apparel maker’s shares rallied 7.4% after the company’s quarterly report. Guess’ adjusted quarterly earnings were $1.14 per sen, which is one cent lower than Refinitiv consensus. However, revenue fell far short of expectations. The profit margins however were higher than expected.
Revolve — Shares of the online designer clothing retailer rose 1.5% after Needham initiated coverageA buy rating for the company. Analysts believe that Revolve, as people return to live events, is the “ultimate opening play”, and will use data to continue to grab market share.
Ralph Lauren — The retail stock rose more than 3% after JPMorgan upgraded Ralph Laurento an overweight rating of neutral. Ralph Lauren may benefit from a more casual apparel style as customers return to the workplace, according to the firm.
McDonald’s — McDonald’s shares fell less than 1% as Morgan Stanley lowered its price targetFast-food company to 287 shares from $294 after store closings in Russia, Ukraine According to the company, closures could cost it $50 million a month.
SolarEdge Technologies — Shares fell more than 7% after the company announced a proposed public offering2.25 million shares of the common stock
— CNBC’s Jesse Pound, Tanaya Macheel and Samantha Subin contributed reporting
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