Stocks were mixed Wednesday, after bond yields rose and oil prices moved higher.
These stocks were making moves Wednesday:
Costco Wholesale
(ticker: COST) reported fiscal fourth-quarter earnings and sales that beat analysts’ estimates. The stock rose 1.9%. The retailer failed to provide an update on a potential increase in membership fees, a move that many on Wall Street believe is overdue.
Furniture company
MillerKnoll
(MLKN) raised its fiscal 2024 outlook, saying it expects adjusted earnings $1.85 to $2.15 a share, better than its previous guidance for profit between $1.70 and $2 a share.
MillerKnoll
also posted first-quarter earnings and sales that beat analysts’ expectations. The stock jumped 28%.
NextEra Energy
(NEE) fell 8.2%, putting it on pace for its lowest close since June 30, 2020, when it closed at $60.04, according to Dow Jones Market Data. The largest U.S. electric utility said Tuesday its subsidiary Florida Power & Light Company has agreed to sell Florida City Gas to
Chesapeake Utilities Corporation
(CPK) for $923 million in cash, and NextEra reaffirmed its long-term guidance. Its stock was also the leading decliner in the
S&P 500.
Guardant Health
(GH) was up 7.1% after shares of the oncology company were upgraded to Overweight from Neutral at
Piper Sandler.
Blink Charging
(BLNK) rose 4.4% after
UBS
initiated coverage of the electric-vehicle charging equipment company with a Buy rating and price target of $7.
ChargePoint
(CHPT) gained 3.5% after also being initiated at Buy at UBS.
Cloudflare
(NET) rose 6.9% after the internet infrastructure company made several announcements including a partnership with
Meta Platforms
(META) to make Llama 2, an open source large language model, available to developers building AI applications on
Cloudflare
‘s developer platform, Workers.
Paychex
(PAYX) rose 3.4% after the payroll services company lifted its adjusted earnings guidance for the fiscal year.
Progress Software
(PRGS) declined 4.8% after the programming tools maker lowered its fiscal-year adjusted free cash flow guidance.
Hasbro
(HAS) and
Mattel
(MAT) were falling 0.4% and rising 2.9%, respectively, after coverage of the toy makers was initiated at Overweight at
Morgan Stanley.
Amazon.com
(AMZN) was flat after slumping 4% on Wednesday after the Federal Trade Commission said it was suing the online retailer and cloud company. The agency alleged that Amazon strategically prevents competition with its dominant online marketplace.
Earnings reports are expected after the closing bell Wednesday from
Micron Technology
(MU) and
Jefferies Financial Group
(JEF).
Write to Joe Woelfel at [email protected]
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