Katrina Lake, co-founder and chief government officer of Sew Repair Inc.
David Paul Morris | Bloomberg | Getty Photos
Try the businesses making headlines noon Tuesday:
Sew Repair — Shares of the clothes subscription service soared 45% after the corporate beat prime and bottom-line estimates throughout its fiscal first-quarter outcomes . Sew Repair earned 9 cents per share, in comparison with the 20-cent loss analysts surveyed by Refinitiv had anticipated. Income got here in at $490.Four million, which was additionally forward of the $481.2 million estimate. The corporate’s consumer base grew 10.2% yr over yr.
AutoZone — The corporate reported blended quarterly numbers, pushing its stock down 4.8%. The auto items retailer posted earnings per share of $18.61, topping a Refinitiv estimate of $17.77 per share. Nevertheless, the corporate’s income of $3.15 billion was slightly below a consensus forecast of $3.16 billion.
Raytheon Applied sciences — The aerospace stock gained 1.4% after Raytheon’s board approved a $5 billion stock buyback program. Shares are down roughly 50% for the yr, dramatically underperforming the broader market.
Pfizer — Shares of the pharmaceutical firm gained 2% on Tuesday because the UK. started to rollout the Covid-19 vaccine from Pfizer and BioNTech. Emergency use authorization is anticipated within the U.S. later this month. The Meals and Drug Administration stated Tuesday that the vaccine didn’t increase any particular security considerations.
QuantumScape — Shares rallied greater than 14% after the electrical car-battery maker stated it’s constructing a battery that it says can cost to 80% in 15 minutes. Moreover, The Monetary Instances reported that investor Jeremy Grantham has made a $200 million funding in QuantumScape.
Boeing — The stock declined by greater than 1% after the aerospace big stated its backlog for the 737 Max declined as soon as once more final month. The corporate stated clients, together with Virgin Australia and lessor Air Lease, canceled orders for 88 Max planes.
ON Semiconductor — The corporate introduced Hassane El-Khoury as the corporate’s new president and CEO. The stock rose greater than 4% on the information.
Etsy —BTIG hiked its price goal on Etsy to $174 per share from $160 per share, sending the stock up about 6%. The brand new goal implies a 10.9% upside from Monday’s shut of $156.80 per share. “If our estimate bears out, then with the primary two months of the quarter rising 90%+, the standalone Etsy market is well-positioned to satisfy or beat our 84% 4Q development estimate.”
FedEx — FedEx superior greater than 1% after UBS raised its price goal on the stock to $380 from $320, a brand new Street excessive. The agency stated it expects the corporate to beat estimates when it studies second-quarter outcomes after the market closes on Dec. 17.
GrubHub — Shares of meals supply firm Grubhub slipped greater than 1% after the corporate revealed a brand new initiative to assist eating places take commission-free orders as states and cities power eateries to show as soon as once more to supply and takeout for survival throughout the pandemic.
—CNBC’s Michael Bloom, Pippa Stevens, Jesse Pound and Maggie Fitzgerald contributed to this report.