Check out the companies that made headlines in intraday trading: Bath & Body Works — The Ohio-based personal care company rose more than 16%, its fastest pace since November 2022. The retailer raised its full-year adjusted profit forecast, saying it expected the annual sales decline to narrow on strong demand for personal care products and new stores. Robinhood — The financial services company soars 5% after Morgan Stanley upgraded Robinhood to overweight, citing positive news from President-elect Donald Trump’s impending second term in office. did. Macy’s — The New York-based retailer postponed releasing its full third-quarter financial results after it was discovered that employees intentionally made incorrect accounting entries to hide delivery costs. We suffered a loss of 3%. The error occurred over several years and amounted to $154 million. Macy’s said the accounting problems do not appear to have affected its cash flow. Meanwhile, sales for the third quarter fell 2.4% to $4.74 billion. Target — The retail chain rose 4.6% after Mr. Oppenheimer named it a top pick, citing an improvement in the risk-reward distortion of the battered stock. Target’s stock price has fallen about 12% since the beginning of the year, and the company said its 3.6% dividend yield is very “attractive.” AGCO — The agricultural equipment maker will lose 5% after its largest shareholder, Tractors and Farm Equipment Limited, which holds a 16.3% stake and is a member of the board of directors, filed to separate the roles of chairman and CEO. rose. ”[T]He failed to put shareholders’ interests first in his combined capacity as chairman and CEO, leading to suboptimal strategic and capital allocation decisions. Even so, it is difficult to win a battle like this.” Intel – Stock price rose more than 3%. CNBC reported that chipmakers are negotiating with the Commerce Department to finalize $8 billion in subsidies through the CHIPS Act. The Minneapolis-based regional bank rose 2% and the retailer rose 4% after its acquisition of Citigroup, which said U.S. Bancorp’s spending is “turning the corner,” according to a person familiar with the matter. . Analysts expect third-quarter earnings to be released Tuesday morning, expecting quarterly earnings of $2.39 per share and revenue of $1.19 billion, according to FactSet data. Investors have grown enthusiastic about the retailer after Gap raised its full-year outlook last week and said the holiday season is off to a strong start. Arm Holdings — Shares of the British chip design company rose 4%. UBS initiated coverage with a buy rating, saying the stock should benefit from artificial intelligence-driven growth across its end markets and data center businesses. Santander — The Spanish bank’s ADR rose 2%. Morgan Stanley upgraded Santander from equal weight to overweight, citing the “resilience of its regional footprint” and “improving capital generation prospects.” SUPER MICROCOMPUTER — Volatile AI Server stock soars 11%, piling on 78% gain last week after announcing BDO as new auditor and laying out plan for how to maintain Nasdaq listing Ta. Scalar Rock Holdings — The biotech soars 34% after rival Biohaven says its T-alpha drug failed to achieve statistically significant results in treating spinal muscular atrophy did. In response, Piper Sandler, Trust Securities, and Wedbush all raised their price targets for Scalar Rock. —CNBC’s Hakyung Kim, Jesse Pound, Yun Li, Michelle Fox, Pia Singh and Scott Schnipper contributed reporting.
