Finance News

Shares That Make The Largest Strikes At Midday: Deere, Foot Locker, Tesla & Extra

John Deere combines are on display during the Farm Progress Show in Boone, Iowa, the United States, on Tuesday, August 28, 2018.

Daniel Acker | Bloomberg | Getty Images

Check out the companies that are making headlines in midday trading.

Deere – Shares in the farm equipment company rose 4.7% on Friday after Deere beat Wall Street's third-quarter income statement expectations. The company reported earnings of $ 2.57 per share on sales of $ 7.86 billion, while analysts polled by Refinitiv expected earnings of $ 1.26 per share and sales of $ 6.7 billion. The company's operating income for the Agriculture and Lawn segment increased more than 50% year over year.

Buckle – Buckle's shares rose more than 20% after the fashion retailer reported quarterly gains that drove Wall Street expectations. The company posted earnings per share of 71 cents for the second quarter, compared to the average analyst estimate of 29 cents according to FactSet. According to Buckle, 431 of the 446 stationary locations were open in early August.

Foot Locker – Retail inventory grew more than 1% after the company beat expectations for the second quarter of the fiscal year. The company reported adjusted earnings per share of 71 cents and sales of $ 2.08 billion. Both were better than analysts surveyed by Refinitiv expected. Foot Locker also reinstated its dividend.

Alibaba – The Chinese e-commerce giant saw its shares surge more than 3% in midday trading after a number of analysts doubled their bullish outlook for the company following Thursday's first quarter results. For example, Stifel analyst Scott Devitt wrote that Alibaba had "impressive year-over-year F1Q results that exceeded expectations and increased sales by 34%". Stifel, Jefferies, Oppenheimer and Raymond James all raised their price targets for Alibaba following the results.

Tesla – The electric vehicle maker's shares rose more than 2% to hit a new all-time high of $ 2,081.68. The stock has suffered a rift since the company announced a 5-for-1 stock split on Aug. 11. Tesla is up nearly 400% this year due to investor enthusiasm for the electric vehicle space.

Ross Stores – Ross Stores shares rose 2.2%, despite the company's revenue dropping 33% in the second quarter of fiscal year as it managed the closings triggered by the Covid-19 pandemic. Even so, the decline in sales was better than expected by Wall Street analysts. Ross said sales were better than expected when the stores opened in May, but that inventory levels gradually began to negatively impact over the weeks that followed.

Keysight Technologies – Keysight Technologies' shares fell 3% even after the electronics test maker reported better than expected results for the previous quarter. The company reported adjusted earnings of $ 1.19 per share on sales of $ 1.01 billion. Analysts polled by FactSet expected earnings of 83 cents per share on sales of $ 915.4 million. However, orders for the quarter were just below the prior-year level at $ 1.067 billion.

– CNBC's Pippa Stevens, Fred Imbert, Yun Li and Jesse Pound contributed to the coverage.

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