Good morning traders of the r/StockMarket sub! Happy Thursday! Here are your market news movers on this Thursday morning-
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AutoZone — The autoparts retailer came in 5 cents a share ahead of estimates, with quarterly profit of $14.30 per share. Revenue missed forecasts, however. Comparable-store sales rose by 1 percent, and AutoZone posted a double-digit increase in year-over-year earnings for the 40th straight quarter.
STOCK SYMBOL: AZO
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Rite Aid — The drugstore chain earned an adjusted 3 cents per share for its latest quarter, 1 cent a share above estimates. Revenue was slightly shy of analysts' forecasts and same-store sales dropped 2.5 percent. Rite Aid is in the process of being acquired by Walgreens Boots Alliance and still expects the deal to close before the end of the year.
STOCK SYMBOL:RAD
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WCI Communities — The luxury home builder agreed to be bought by rival Lennar for $643 million in cash and stock, or $23.50 per share. That represents a 37 percent premium for WCI shareholders compared to Wednesday's close.
STOCK SYMBOL: WCIC
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CBS — The media company's stock was downgraded to "market perform" from "outperform" at Telsey Advisory Group, which cites the increasing likelihood that CBS will combine with Viacom. Telsey feels CBS has better metrics by itself than it would when combined with Viacom.
STOCK SYMBOL: CBS
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SeaWorld Entertainment — The theme park operator's stock was upgraded to "buy" from "neutral" at Citi, saying pricing pressure should be offset by cost cuts and that SeaWorld will benefit if it redeploys cash saved by a recent dividend cut toward new capital expenditures.
STOCK SYMBOL: SEAS
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Bed Bath & Beyond — The household goods retailer reported quarterly earnings of $1.11 per share, 5 cents a share below estimates. Revenue also came up short, with the company's same-store sales falling a worse than expected 1.2 percent for the quarter. The company did reaffirm its prior forecast for the full year, however.
STOCK SYMBOL: BBBY
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Yahoo — Yahoo will confirm a massive data breach later this week, which impacted several hundred million accounts, according to a Recode report.
STOCK SYMBOL: YHOO
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Jabil Circuit — Jabil beat estimates by 3 cents a share, with adjusted quarterly profit of 28 cents per share. Revenue also beat forecasts. The electronics supplier gave better-than-expected revenue guidance for the current quarter, as well, and announced infrastructure changes to deal with what it calls a more moderate growth environment.
STOCK SYMBOL: JBL
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Red Hat — Red Hat reported adjusted quarterly profit of 55 cents per share, 1 cent a share above estimates. The Linux software provider's revenue was above forecasts, as well. Red Hat raised its guidance for the full year as demand rises for its software and cloud services.
STOCK SYMBOL: RHT
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Wal-Mart — Wal-Mart will have to face a class action lawsuit in a case involving alleged bribery at the retail giant's Mexican unit. Wal-Mart is accused in the suit of defrauding shareholders, but Wal-Mart said a class action is "not appropriate" and may appeal the decision to certify a class action.
STOCK SYMBOL: WMT
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Lockheed Martin — The defense contractor's Sikorsky helicopter unit struck a $220 million deal with the state of Connecticut, keeping production in the state through June of 2032 and providing incentives for the company to boost hiring.
STOCK SYMBOL: LMT
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Schlumberger — The oilfield services company won part of a $3.2 billion drilling project in Venezuela, a few months after a drastic scaleback in that country and firing hundreds of workers.
STOCK SYMBOL: SLB
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Weyerhaeuser — The stock was added to the "Conviction Buy" list at Goldman Sachs, in a new report on the paper and forest products sector that rates it "neutral" overall. Goldman said the company's particular specialties give it substantial leverage to a housing recovery.
STOCK SYMBOL: WY
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Good trading day to everyone in here on this Thursday!! :)
Submitted September 22, 2016 at 08:17AM by bigbear0083 http://ift.tt/2dbQHJa
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