Lockheed Martin, Hasbro, Facebook and more
Hasbro board games.
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Find out which companies are making the midday headlines.
Lockheed Martin – Shares of the defense contractor fell 12.5% ââafter reporting a quarterly shortfall and lowering expectations for next year. Lockheed predicts a “slight reduction in revenue in 2022 and roughly stable to below-single-digit growth rates of both revenue and segment operating profit over the next several years, with growing opportunities for growth in the years that follow “.
Raytheon Technologies – Shares of the aerospace and defense company fell 3.3% after Raytheon Technologies’ third-quarter revenue was $ 16.21 billion, below 16 , $ 37 billion expected, according to Refinitiv. The company’s intelligence and space division recorded stable year-over-year sales. Raytheon Technologies has exceeded earnings per share estimates.
Facebook – The social media giant fell 5.5% after Facebook missed estimates of revenue and monthly growth of active users for the third quarter. Several Wall Street analysts cut their stock price target after the report, although they kept their buy quotes. Facebook’s earnings per share of $ 3.22 beats estimates by 3 cents, according to Refinitiv.
Nvidia – The chipmaker rose 5.8% and was among the top winners of the S&P 500 on Tuesday, with Street analysts showing enthusiasm for Facebook’s projected spending on data and network infrastructure as a component positive for chipmakers.
United Parcel Service – The shipping company climbed more than 6% after the company reported better-than-expected quarterly earnings and revenue. The company increased its adjusted operating margin target for the full year to about 13%, from about 12.7%, before the holiday season.
The RealReal – The RealReal shares gained more than 3% after Raymond James upgraded luxury resale stocks to outperform the market. The company said the resale could benefit in the short term from global supply issues.
Tesla – Tesla slipped more than 1% after the stock climbed more than 12% in the previous session to hit a market cap of $ 1,000 billion for the first time. Monday’s rally came after the announcement that Hertz is ordering 100,000 vehicles to expand its electric vehicle rental fleet by the end of 2022.
Corning – The glass and specialty materials maker fell more than 5% after reporting earnings of 56 cents a share, which missed the 2-cent estimate and revenue forecast. Corning said slowing production in the auto industry affected its results.
Hasbro – Shares of the toy maker gained more than 3% after reporting quarterly earnings of $ 1.96 per share, beating consensus expectations by 27 cents. Hasbro also matched analysts’ earnings projections.
General Electric – The energy giant’s share climbed more than 2% after reporting quarterly profit of 57 cents a share, beating analysts’ estimates of 14 cents and earnings that missed expectations. GE also reported better than expected free cash flow.
Centene Corp – Shares of the healthcare company gained nearly 3% after releasing quarterly results. Centene posted a profit of $ 1.26 per share, beating FactSet estimates by 2 cents. It also reported $ 32.4 billion in revenue, compared to estimates of $ 31.6 billion.
– CNBC’s Jesse Pound, Yun Li and Hannah Miao contributed reporting