An exterior view of the Oracle Field Office on Wilson Boulevard in Arlington, Virginia, October 18, 2019.
Tom Brenner | Reuters
Check out the companies that are making headlines in midday trading.
Oracle – Oracle's shares rose 2.5% after the company discussed a deal for TikTok's operations in the US, Canada, Australia and New Zealand, sources told CNBC. Oracle and Microsoft are way ahead of other companies that have shown interest in ByteDance's social media venture, the source said.
Kohl & # 39; s – Kohl & # 39; s shares rose more than 16% after the retailer offered a gloomy outlook ahead of the all-important Christmas season. The executive director Michelle Gass said the company plans that the crisis will continue to affect its business in the short term. Kohl's revenue declined 23% to $ 3.21 billion in the fiscal second quarter, but was better than the expected $ 3.09 billion, according to Refinitiv. A lower than expected quarterly loss was also reported. Macy & # 39; s and Nordstrom showed up alongside the retailer.
Amazon – The e-commerce giant's shares rose nearly 3% on Tuesday, helping the S&P 500 hit a record high earlier in the day. Mega-cap tech darlings like Amazon have led the S&P 500 by more than 50% from its March low, helping to erase any losses related to the index's coroan virus.
Boeing – Boeing's shares fell 1% after the planner announced it would offer employees a second voluntary layoff package to leave the company with pay and benefits. CEO Dave Calhoun said the move will extend the company's layoffs beyond the original target of 10%. Boeing continues to suffer from devastating demand for travel amid the pandemic.
Home Depot – Home Depot posted blowout results for the second quarter of its fiscal year as consumers embarked on more "do-it-yourself" projects during the pandemic. The company had earnings per share of $ 4.02 on sales of $ 38.05 billion. According to Refiniti, analysts expected earnings of $ 3.71 per share on sales of $ 34.53 billion. However, Home Depot stocks were down 1.1%.
Walmart – Walmart shares fell more than 1% even after the largest US retailer posted stronger-than-expected earnings in the previous quarter. The company had earnings of $ 1.56 per share on sales of $ 137.74 billion. Analysts polled by Refinitiv expected earnings per share of $ 1.25 per share on sales of $ 135.48 billion. These results were partly due to a 97% increase in online sales. However, the company also found consumer spending declined during the quarter as the US economic tests expired.
Penn National Gaming – The casino and gaming company's shares rose 3.8% after Truist raised its price target on the stock from $ 50 per share to $ 62 per share. The company said in a note that the strategic benefits of partnering with Barstool Sports are "increasingly evident" and that the launch of a new sports app this fall could be a positive catalyst.
Tesla – Tesla shares rose nearly 3% on Tuesday, building on their recent momentum since the electric automaker announced a five-for-one stock split due to take effect Aug. 31.
Advance Auto Parts – Advance Auto shares rose more than 2% after better than expected quarterly results. The company reported earnings of $ 2.92 per share on sales of $ 2.5 billion. Wall Street expects profits of $ 1.98 on sales of $ 2.28 billion, according to Refinitiv. Sales in the same store rose 7.5%, beating the estimated growth of 2.6%.
– with reports from Yun Li, Jesse Pound and Fred Imbert of CNBC.