Companies whose shares are expected to trade actively in today’s session are NIKE, Inc. (NYSE:NKE), Tibco Software Inc. (NASDAQ:TIBX), Micron Technology, Inc. (NASDAQ:MU), Tiffany & Co. (NYSE:TIF), Arbor Realty Trust, Inc. (NYSE:ABR) and Ryder System, Inc. (NYSE:R).
NIKE, Inc. (NYSE:NKE): The apparel maker announced better than expected third quarter results. Revenues surged 9 percent to $6.19 billion while net profit increased from 61 cents to 73 cents per share. Analysts were expecting 67 cents in earnings. Nike also issued optimistic guidance for the current quarter. Shares surged 7.84 percent to $57.80 in the early session.
There's a gold rush coming as electric vehicle manufacturers fight for market share, proclaimed David Einhorn at this year's 2021 Sohn Investment Conference. Check out our coverage of the 2021 Sohn Investment Conference here. Q1 2021 hedge fund letters, conferences and more SORRY! This content is exclusively for paying members. SIGN UP HERE If you Read More
Tibco Software Inc. (NASDAQ:TIBX): The cloud computing company’s first quarter profits declined 54 percent due to execution-related problems. Though the company’s sales increased in most sectors, financial sector revenues slipped 8 percent. Analysts said the company is suffering because of bad leadership. Shares tumbled 15.49 percent to $1959 in early market trading.
Micron Technology, Inc. (NASDAQ:MU): The chip maker’s second quarter losses widened despite stronger revenues due to heavy acquisition-related expenses. However, revenues were better than Wall Street’s expectations. Shares surged 8.16 percent to $9.81 in the early session.
Tiffany & Co. (NYSE:TIF): The company’s fourth quarter earnings increased just 0.7 percent due to a weak holiday session. However it was better than analysts’ expectations. The full-year earnings were in-line with the jewelry retailer’s forecasts. Shares jumped 3.56 percent to $70.33 in early market trading.
Arbor Realty Trust, Inc. (NYSE:ABR): The real estate finance company announced that it would offer 5.6 million shares in a public offering. Sales proceeds will be used to pay off debts, repurchase and for general corporate purposes. As of February 15, Arbor Realty Trust had 32 million outstanding shares. Shares fell 5.22 percent to $7.80 after the announcement.
Ryder System, Inc. (NYSE:R): The Raymond James analysts have upgraded the truck provider to strong buy and raised the price target from $60 to $74. Analysts said the stock has strong potential to touch the record highs of 2008. Shares went up 2.20 percent to $59.49 in the early session.