2023-11-15 12:03:00
* TARGET TGT.N announced on Wednesday that it anticipates a profit well above Wall Street expectations for the current holiday quarter, the distributor having benefited from a drop in supply chain costs and its efforts to control its stocks, which sent the stock up 10% in pre-market trading. In its wake, its competitor WALMART WMT.N gained 0.7%. * BERKSHIRE HATHAWAY BRKa.N announced Tuesday evening that it had sold its stakes in GENERAL MOTORS GM.N and PROCTER & GAMBLE PG.N, and had reduced that held in AMAZON AMZN.O to 5% in order to increase its liquidity. The conglomerate controlled by billionaire Warren Buffett, on the other hand, took a stake in SIRIUS XM HOLDINGS SIRI.O, which caused the latter to rise by 7.6% in pre-market trading. * WELLS FARGO WFC.N will cut around fifty positions in its corporate and investment banking division as part of an end-of-year restructuring, a source informed of the matter reported on Tuesday. * SPIRIT AIRLINES SAVE.N jumps 4.2% in pre-market trading following announcing the extension of its revolving credit facility to September 30, 2025. * JD.COM JD.O advances 5.2% ahead – Stock market, the Chinese e-commerce group listed on Wall Street having reported a jump in its profit in a context of easing tensions on the supply chain. * CATALENT CTLT.N increased by 6% in pre-stock market trading following reporting on Wednesday a less significant loss than expected in the first quarter of its fiscal year thanks to an improvement in the pharmaceutical and biological activities of the group specializing in subcontracting. * GETTY IMAGES GETY.N fell 6% in following-hours trading following lowering its annual revenue forecast due in particular to a difficult market context and the impact of strikes in Hollywood. * CANOO GOEV.O climbs 8.7% in pre-market trading, the electric vehicle manufacturer having scaled back its spending plans for the second half in a context of market slowdown. The group also expects an operating loss to be lower than anticipated during this period. * VF CORP VFC.N – JP Morgan raises its recommendation from “underweight” to “neutral” on the owner of, among others, The North Face and Vans brands. * BEAUTY HEALTH SKIN.O – Jefferies lowers its recommendation from “buy” to “hold”. (Writing by Claude Chendjou, edited by Kate Entringer)
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