Check out the companies making headlines before the bell. Target – Shares drop more than 17% after the Minneapolis-based retailer missed third-quarter profit and revenue expectations and lowered its full-year outlook, just three months after raising its forecasts. I did. Target noted only a slight increase in customer traffic, and the company’s CEO noted that “discretionary areas continue to be weak.” Comcast – Shares rose more than 2% after the owner of NBCUniversal announced it would spin off its cable assets, including CNBC and MSNBC, into a separate publicly traded company. Comcast, led by Brian Roberts, said the spinoff is expected to take about a year. Goldman Sachs and Morgan Stanley advised the parent company. Delta Air Lines – The Atanta-based airline fell more than 1% after restating its fourth-quarter outlook. Delta Air Lines expects mid-single-digit revenue growth next year, in line with analyst expectations. Nio – U.S. shares fell more than 2% after the Chinese electric car maker reported lower-than-expected third-quarter sales. Nio’s revenue for the period totaled 18.67 billion yuan, down 2.1% year-on-year. Analysts polled by FactSet had expected 19.13 billion yuan. Dolby Laboratories – Shares soared nearly 15% after the audio technology company reported quarterly results that beat Wall Street expectations. Dolby’s fourth-quarter earnings were 61 cents per share, beating analysts’ expectations of 45 cents per share, according to FactSet. Dolby also increased its quarterly dividend by 10% to 33 cents per share, payable on December 10th. Robinhood – Shares rose more than 3%, extending Tuesday’s gains. On Wednesday, Needham upgraded the stock from hold to buy. The financial services platform announced it will acquire TradePMR for approximately $300 million to strengthen its advisory capabilities. Keysight Technologies – Electronics test and measurement equipment maker Keysight Technologies rose more than 9% after better-than-expected fourth-quarter results. Keysight also has an optimistic outlook for the current quarter, forecasting adjusted earnings per share of $1.65 to $1.71, compared with the analyst consensus estimate of $1.57, according to FactSet. AppLovin – Stocks expected to hit 700 in 2024 after Piper Sandler began investigative reporting on mobile app developers, setting an Overweight rating and price target that suggests the stock could rise further. After surging more than %, the stock still gained 2.3%. The electrical equipment company fell 13% in its fiscal fourth quarter as new orders fell to $267 million from $356 million in the third quarter. Fourth-quarter sales were lower than analysts expected, but earnings per share exceeded expectations, according to FactSet. Super Microcomputer – Shares fell more than 2% after surging more than 31% on Tuesday. The server maker announced it has hired BDO as its new auditor and filed a plan with the Nasdaq stock market outlining how it will comply with listing requirements. Netflix – Netflix reveals that last week’s boxing match between former heavyweight champions Mike Tyson and Jake Paul drew 108 million viewers worldwide, making it the most-streamed global sporting event in history. Shares rose nearly 1% after Netflix announced that it would. —CNBC’s Alex Harring, Jesse Pound, Pia Singh and Sarah Min contributed reporting. Disclosure: Comcast owns NBCUniversal, the parent company of CNBC.
