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Today's Morning Movers and Top Ratings: SE, HD, KHC, ONON and More.
Morning Movers
Gapping up
$Home Depot (HD.US)$ posted a smaller-than-expected decline in quarterly same-store sales on Tuesday, as a switch to small-scale projects and repair work by customers cushioned a slowdown in demand for big-ticket items that has hammered the industry. Shares of the company rose more than 2% in premarket trading.
Comparable sales at the largest U.S. home improvement retailer fell 3.1% in the third quarter, while analysts on average expected a 3.31% drop.
Meanwhile, the company tightened its annual sales forecast range to a decline between 3% and 4%, compared with its prior forecast for a 2% to 5% decline. Analysts on average estimate a 2.72% drop.
$The Kraft Heinz (KHC.US)$ The food and beverage giant added 1.6% in premarket trading after Bernstein upgraded the stock to outperform from market perform. The firm thinks Kraft Heinz is better-positioned compared to its food peers in an anti-obesity drug backdrop given its “protein-forward portfolio” in the U.S. and its cheap valuation.
Gapping down
$Sea (SE.US)$ reported third-quarter results that exceeded analyst estimates, however, shares fell more than 13% in pre-market Tuesday.
The company posted total revenue of $3.31 billion, beating the consensus estimate of $3.17 billion. Sea reported an adjusted EBITDA of $35.3 million, while earnings per share came in at 26 cents, ahead of the expected 12 cents.
While earnings were better than expected, shares likely fell on the CEO Forrest Li's comments.“In this current period, we will prioritize investing in the business to increase our market share and further strengthen our market leadership,”Li said,“We are committed to maintaining a strong cash position, not relying on external funding, and investing within our means at a time and pace of our choosing.”
$On Holding (ONON.US)$ Shares of the sports footwear and apparel maker plunged 9%, despite the company reporting a beat on earnings and revenue and raising its net sales outlook for the full year. The company said it reached its highest gross profit margin since its IPO two years ago.
$Fisker (FSR.US)$ The electric vehicle startup company plummeted more than 18% after missing on third-quarter earnings forecasts and reporting light vehicle deliveries. The company noted that the pace of vehicle deliveries accelerated near the end of the quarter, however.
Source: CNBC; Investing.com
US Top Rating Updates on 11/14
Source: Dow Jones
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