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CNBC
5 days ago
- Business
- CNBC
Stocks making the biggest moves midday: Costco, Palantir, Gap, Ulta Beauty and more
Check out the companies making headlines in midday trading. Costco — The wholesaler gained more than 3% on fiscal third-quarter results that surpassed analyst estimates, while sales jumped 8% from the same period a year ago. Ulta Beauty — Shares of the beauty retailer skyrocketed nearly 13% to hit a 52-week high after the company raised its annual profit forecast and crushed expectations with its quarterly results. Ulta said lower inventory losses as well as new launches helped drive demand at its stores. Gap — The apparel retailer plunged 20% after saying it sees current-quarter sales around flat from the year-earlier period. On the other hand, analysts had expected sales to grow 0.2%. This cloudy outlook outweighed Gap's first-quarter earnings and revenue beat. Elastic NV — The software company pulled back 12% after its full-year revenue forecast missed analyst estimates. Elastic expects revenue for the full-year between $1.655 billion to $1.67 billion, while analysts polled by FactSet were looking for $1.68 billion. Marvell Technology — The semiconductor company declined 6% after Marvell's first-quarter earnings failed to impress investors. Marvell reported adjusted earnings per share of 62 cents, while analysts surveyed by LSEG called for 61 cents per share. Regeneron Pharmaceuticals , Sanofi — Shares of the biopharma companies dropped 18% and 5.6%, respectively, on inconsistent results from late-stage trials for respiratory drug Itepekimab, which both firms are involved in developing. PagerDuty — Shares dipped 11% after the cloud computing firm issued a weaker-than-expected second-quarter profit forecast. PagerDuty expects earnings per share between 19 cents and 20 cents, excluding items, while analysts polled by FactSet were looking for 23 cents. Zscaler — The cloud security firm surged 8% after third-quarter results beat analyst estimates. Zscaler reported an adjusted 84 cents per share on revenue of $678 million, while analysts polled by FactSet were looking for an adjusted 76 cents and $666.5 million. Palantir Technologies — The software platform stock advanced more than 5% after a Friday report from the New York Times said the Trump administration tapped Palantir to aid in compiling data on U.S. citizens, expanding Palantir's already robust dealings with the government. — CNBC's Yun Li and Lisa Kailai Han contributed reporting.
CNBC
22-05-2025
- Business
- CNBC
Asia-Pacific markets set to mostly climb as investors await slew of economic data
The upscale shopping district of Ginza in Tokyo, Japan, on Saturday, May 4, 2024. Bloomberg | Bloomberg | Getty Images Asia-Pacific markets were set to mostly climb Friday as investors await a slew of economic data in the region. Japan's benchmark Nikkei 225 is set to open higher with the futures contract in Osaka last trading at 37,150 and the contract in Chicago at 37,055 against the index's last close of 36,985.87. Australia's benchmark S&P/ASX 200 is also set to open higher, with futures standing at 8,388, higher than the index's last close of 8,348.7. Futures for Hong Kong's Hang Seng index stood at 23,492, lower than its last close of 23,544.31. Investors are parsing South Korea's PPI figures for April and New Zealand's retail sales for the first quarter of the year, which came out early Friday. Japan and Singapore are slated to report inflation data for April, and Taiwan is releasing its industrial output figures later in the day. U.S. stock futures were little changed as investors continue to evaluate the effect of higher U.S. Treasury yields on the economy. Futures tied to the Dow Jones Industrial Average added 14 points, or 0.03%. Nasdaq 100 futures were marginally lower, while S&P 500 futures ticked up 0.03%. Overnight stateside, the three major averages closed mixed as investors grappled with fears of rising rates and worries about a ballooning U.S. deficit. The 30-year Treasury yield hit its highest since 2023 as lawmakers passed a bill that investors fear could worsen the U.S. deficit. The Dow Jones Industrial Average slipped 1.35 points, closing at 41,859.09. The S&P 500 lost 0.04% and ended at 5,842.01, while the Nasdaq Composite advanced 0.28% and settled at 18,925.73. — CNBC's Lisa Kailai Han and Yun Li contributed to this report. The S&P 500 closed little changed on Thursday afternoon. The market benchmark slipped 0.04% to close at 5,842.01. The Dow Jones Industrial Average shed about 1 point and finished at 41,859.09. The Nasdaq Composite , on the other hand, added 0.28% to settle at 18,925.73. — Lisa Kailai Han Citi is seen on the floor of the New York Stock Exchange on March 3, 2025. NYSE Citi expects a worst economic outlook for the second half of the year. The bank attributed this partially to U.S. consumers and firms frontloading their spending to get ahead of tariffs. "As the full effects of the tariffs come online — likely over the next few months — demand could face a double blow. The tariffs could reduce real purchasing power, and in addition, frontloaded purchases will be 'paid back,'" global chief economist Nathan Sheets wrote in a Wednesday note. "As such, we view the current period as still the 'calm before the storm,' and we expect growth in the second half of the year to weaken." — Lisa Kailai Han
CNBC
21-05-2025
- Business
- CNBC
Stocks making the biggest moves midday: Canada Goose, UnitedHealth, Target, Carter's and more
Check out the companies making headlines in midday trading. Target — The big-box retailer fell 4% on disappointing first-quarter results . Target also cut its full-year sales outlook, partly blaming falling consumer sentiment and uncertainty about tariffs. Toll Brothers — The stock added 2.8% after the homebuilder beat on both the top and bottom lines for its second quarter. Earnings came in at $3.50 per share, topping the $2.83 a share expected from analysts polled by LSEG. Revenue was $2.74 billion, versus the $2.48 billion consensus estimate. Palo Alto Networks — The cybersecurity company tumbled 5% after posting a gross margin for the third fiscal quarter that was lower than expected. That overshadowed an better-than-anticipated earnings report on both lines for the quarter. Canada Goose — The luxury jacket maker soared 28% after posting a better earnings report for the fiscal fourth quarter than analysts penciled in. However, the company said it would not provide an outlook for the fiscal 2026 year due to uncertainty tied to consumer spending and the global trade backdrop. UnitedHealth — Shares fell 4.4% following HSBC's downgrade of the health insurer. HSBC said the stock could see more downside even after the recent sell-off. UnitedHealth shares have plunged nearly 39% this year. Crypto stocks — Some stocks tied to digital currencies rose as bitcoin rallied to a new all-time high . Coinbase gained 2%, while Mara Holdings popped more than 4%. Carter's — Shares sank 10% after the children's clothing company announced it would slash its quarterly dividend to 25 cents per share from 80 cents per share. The company also said that higher tariffs could push up product costs. Xpeng — U.S.-listed shares of the Chinese electric vehicle maker surged 11.2% after the company recorded a s maller loss for the first quarter than anticipated. Xpeng said it plans to deliver between 102,000 and 108,000 vehicles in the current quarter, which would mark a year-over-year rise of more than 200%. Take-Two Interactive — Shares slid 3.4% after the video game maker announced a proposed offering of $1 billion in common stock. JPMorgan and Goldman Sachs are the lead bookrunning managers for the potential offering. Keysight Technologies — The commercial electronics stock jumped 4% after results for the fiscal second quarter topped expectations. Keysight reported $1.70 in adjusted earnings per share on $1.31 billion of revenue. Analysts surveyed by FactSet were expecting $1.65 per share and $1.28 billion. Both of the company's major reporting segments saw year over year revenue growth. Modine Manufacturing — Shares dropped 8.1% despite a better-than-projected report for the fourth fiscal quarter. The manufacturer earned $1.12 per share, excluding items, while analysts polled by FactSet anticipated 96 cents a share. Revenue came in at $647.2 million, also exceeding the Street's consensus forecast of $631.5 million. — CNBC's Jesse Pound, Yun Li and Michelle Fox contributed reporting
CNBC
12-05-2025
- Business
- CNBC
Most Asia markets poised to rise after massive rally on Wall Street on U.S.-China trade deal
Early sun rising over the Taj Mahal, India Julieannebirch | E+ | Getty Images Asia-Pacific markets are poised to mostly climb Tuesday, following a massive rally on Wall Street after the U.S. and China announced a trade deal, including a 90-day pause on tariffs and a drop in reciprocal tariffs by 115 percentage points. Australia's S&P/ASX 200 is set to rise at the open, with futures tied to the benchmark at 8,364, compared to its Monday close of 8,233.50. Japan's benchmark Nikkei 225 was set to open higher, with the futures contract in Chicago at 38,745 while its counterpart in Osaka last traded at 38,730, against the index's last close of 37,644.26 Futures for Hong Kong's Hang Seng index stood at 23,403, pointing to a weaker open compared to the HSI's last close of 23,549.46. U.S. stock futures were flat after all three key benchmarks hit their best day since April 9, as investors awaited the release of an inflation report. Overnight stateside, stocks soared as investors' fears of a recession in the U.S., sparked by a trade war with China, were abated after the two superpowers arrived at a deal. The Dow Jones Industrial Average surged 1,160.72 points, or 2.81%, and closed at 42,410.10. The 30-stock index ended the session near its highs of the day, with buying enthusiasm remaining strong. Meanwhile, the broad-based S&P 500 popped 3.26% to end at 5,844.19, giving it gains of over 20% since its April intraday low at the height of tariff pessimism. The benchmark's year-to-date losses have now narrowed to just 0.6%. The Nasdaq Composite added 4.35% and settled at 18,708.34, as the details of the trade deal sent technology stocks with exposure to China — like Tesla and Apple — higher. — CNBC's Brian Evans, Yun Li and Fred Imbert contributed to this report. Economists Goldman Sachs cut their estimated risk of a recession in the U.S. to 35% from 45% after President Donald Trump's temporary pause on Chinese tariffs. "In light of the somewhat smaller hit to GDP growth, the reduced risk of US-China tariffs high enough to cause production disruptions, and the encouraging signal about future tariff policy decisions, we are lowering our 12-month recession probability to 35% (vs. 45% previously)," the firm wrote in a note to clients. Goldman said the Trump administration is likely to announce other preliminary trade deals over the next few weeks, which might lower the US effective tariff rate slightly further. — Yun Li, Michael Bloom The CBOE Volatility Index , also known at the Wall Street fear gauge, is back below 20 for the first time since March after the U.S. and China reached a deal to temporarily pause most of their tariffs on each other's goods. The VIX was last near the 19 level on Monday after declining in the last few sessions. The last time the index was under the 20 level was on March 27, when it closed at 18.69, before Trump announced sweeping tariff announcements in early April. The VIX had reached as high as 60.13 on April 7 as volatility soared on escalating tariff and trade tensions. The VIX measures the move in call and put options and is considered the market's estimate of expected volatility in the S&P 500 stock index. — Pia Singh
Business Mayor
03-05-2025
- Business
- Business Mayor
Berkshire meeting 'bazaar' features Buffett Squishmallows, 60th anniversary book and giant claw machine
The welcome sign at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025. David A. Grogen | CNBC OMAHA, Nebraska — Berkshire Hathaway shareholders are getting more bang for their buck at this year's meeting with the annual shopping event more interactive than ever. The conglomerate's yearly convention kicked off Friday with a shareholder-only shopping event, called the 'Berkshire Bazaar of Bargains.' With over 20,000 square feet of showroom space at the CHI Health Center in downtown Omaha, the exhibit hall is offering goods from a myriad of the conglomerate's holdings, including Warren Buffett-themed apparel from Brooks Sports and Berkshire chocolate coins from See's Candies. Buffett will take the stage 9am ET Saturday to address the most pressing issues investors face, including tariffs, the market volatility as well as the state of the economy. The 94-year-old investment legend will answer shareholder questions along with his designated successor, Greg Abel, and Berkshire's insurance chief, Ajit Jain. The Q&A session will be broadcast exclusively on CNBC. Plush Warren, Charlie and Omaha Squishmallows in the images of Warren Buffett, Charlie Munger and Omaha at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025. Alex Harring | CNBC The Squishmallow shopping display at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025. Yun Li | CNBC The Squishmallow shopping display at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025. Yun Li | CNBC Plush toy phenomenon Squishmallows once again stole the show. The ones modeled after the 'Oracle of Omaha' and the late Charlie Munger became the biggest hits at the shopping event, as shareholders snapped up over 1,000 snuggly dolls per hour. This year, Squishmallows also introduced a new limited-edition dog character called 'Omaha.' The Squishmallow shopping display at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025. Yun Li | CNBC Berkshire inherited Squishmallows parent Jazwares through its acquisition of Alleghany in the fourth quarter of 2022. These squishy toys became an instant sensation during the pandemic partly thanks to celebrity endorsements. In 2022 alone, the firm sold a whopping 100 million Squishmallow units — with prices ranging from $5 to $30. At the shopping event, the company put on display its newest product — pillows for both kids and adults —slated to launch this summer. Berkshire shareholders get to buy special edition pillow cases featuring Buffett and Munger's cartoon figures. One very special book The Berkshire Hathaway 60th Anniversary book seen at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025. Yun Li | CNBC The Berkshire Hathaway 60th Anniversary book seen at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025. Alex Harring | CNBC Only one book is for sale at Berkshire's book store Bookworm this year, 60 Years of Berkshire Hathaway, to commemorate the decades since Buffett took over what was then a failing Massachusetts textile company Berkshire is selling 5,000 volumes of the limited edition book. Proceeds from an auction of copies signed by Buffett and author Carrie Sova will benefit the Stephen Center, a charity for homeless youth and adults in South Omaha. Satisfying the sweet tooth See's Candies display at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025. David A. Grogen | CNBC See's Candies, one of Berkshire's most-iconic brands, had shelves of themed chocolate concoctions available for purchase. Tied to the camping theme for this year's meeting, See's sold a box of toasted marshmallow-flavored chocolates. The box was adorned with an illustration of Buffett next to a campfire. Other items for sale included chocolate coins with wrappers embossed with Buffett's face, as well as the company's famous peanut brittle. Room for dessert? The Dairy Queen display at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025. David A. Grogen | CNBC Dairy Queen, which Berkshire Hathaway acquired in 1998, provided a sweet treat for attendees while they racked up steps at the bazaar. The ice cream chain's Dilly Bars were sold for $1, while the Buster Bar went for $2. Running shoes The Brooks Running display at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025. David A. Grogen | CNBC Brooks Running shoes on display at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025. Alex Harring | CNBC Brooks Running hats on display at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025. Alex Harring | CNBC Long lines formed at Brooks Running as shareholders gravitated towards the 2025 special edition of its running shoes with special 'Berkshire Hathaway' branding on the side and the insoles. Many shareholders are also set to participate in the Brooks 'Invest in Yourself' 5K fun run and walk on Sunday, the morning following the annual meeting. Live from Omaha Signage at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025. Alex Harring | CNBC Attendees waited in line to take photos in front of CNBC's stage, where reporters like Mike Santoli and Becky Quick have been reporting. CNBC is the exclusive broadcaster for the meeting and has a livestream available online in English and Mandarin. Claw Crane Feeling lucky? New to the bonanza floor this year was a gigantic claw machine. For $10, attendees could try their luck at scooping up prizes tied to several of Berkshire's holding companies. Proceeds go to the Hope Center for Kids, an Omaha-based organization providing after-school and summer care for children. Living the lavish life The NetJets display at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025. David A. Grogen | CNBC NetJets, which Berkshire bought in 1998, took shareholders inside a private plane. The private jet operator also sold company-branded gear. Getting it all home Crowds at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025. Alex Harring | CNBC Not enough space for plush toys, jewelry, running shoes and books in your carryon? AIT Worldwide Logistics has you covered. The shipper offered shoppers the service of having their purchases packed and sent home. It should be a popular service, with attendees seen lugging around Squishmallow bags that were equivalent in size to a child. Bling-bling A jewelry display from Borsheims is seen at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025. Yun Li | CNBC A jewelry display from Borsheims is seen at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025. Yun Li | CNBC About 14 miles away from the main convention center, there's a separate shareholder-only shopping event at jewelry story Borsheims. Berkshire shareholders browsed through one-of-a-kind jewelry, engagement rings and watches available for purchase at a discount. This 24-carat black diamond necklace from Ruchi New York is selling for about $25,000.
