Oracle, Nordstrom, Chipotle, Morgan Stanley & more


Check out the companies creating headlines right before the bell Wednesday:

Amazon (AMZN) — An employee in Amazon’s “Brazil” workplace in downtown Seattle tested good for the coronavirus. ″We’re supporting the impacted staff who is in quarantine,” Amazon instructed CNBC.

Standard Electric (GE) — The industrial big mentioned it expects the coronavirus outbreak to shave off amongst $300 million and $500 million in first-quarter absolutely free income flow. GE, however, reaffirmed its whole-yr outlook for free hard cash flow.

Oracle (ORCL) — An analyst at Societe Generale upgraded Oracle to “obtain” from “hold,” citing the stock’s “substantial price cut vs. peers.” The analyst also thinks Oracle will be less impacted by the coronavirus than other firms in the house, supplied that two-thirds of profits is recurring “thanks to its upkeep and cloud firms.”

Chipotle Mexican Grill (CMG) — Shares of the speedy-everyday foods chain had been upgraded to “over weight” from “equal bodyweight” by an analyst at Wells Fargo who believes Chipotle drive-through places are “established to accelerate the company’s shift back toward all-time significant retail outlet-level revenue, margins and returns, which we do not believe is appreciated by the market place.”

Household Depot (High definition) — Instinet upgraded House Depot to “purchase” from “neutral,” and hiked his value goal on the stock to $251 per share from $240 per share. The new price focus on signifies a 10% upside from Tuesday’s closing price of $227.94. “The recent market place volatility, along with actions in fees, can make for a far more fulfilling entry issue,” the analyst mentioned.

Mattel (MAT) — The toymaker was upgraded to “obese” from “sector excess weight” by an analyst at KeyBanc Cash Markets. “With value takeouts and turnaround significant lifting mainly in hand, it was far more obvious to us that MAT is pivoting back again onto offense, squarely concentrated on earnings expansion,” the analyst mentioned.

Target (TGT) — Goldman Sachs additional Target to its “Americas conviction list,” noting: “We consider there is home for the top-line tale to exceed their reduced-single-digit advancement guidance as the firm proceeds to reward from competitor store closures.”

Nordstrom (JWN) — Nordstrom shares dropped 7% in the premarket on the again of disappointing quarterly results. The retailer attained $1.42 for each share on revenue of $4.54 billion. Analysts polled by Refinitiv predicted a earnings of $1.47 per share on gross sales of $4.56 billion. The enterprise also issued weaker-than-predicted earnings steering for the yr.

Morgan Stanley (MS) — Morgan Stanley shares have been upgraded to “acquire” from “neutral” by an analyst at Citi who explained the recent pullback in bank shares presents traders with “a longer-term horizon” to obtain into the expense lender.

Past Meat (BYND) — Argus Analysis initiated Beyond Meat with a “buy” rating and a rate target of $130 for every share, which signifies an upside of 36.2% from Tuesday’s shut of $95.43 for each share. “We anticipate demand from customers for plant-based mostly possibilities to meat to carry on to develop, driven not only by purchaser choices for much healthier food items, but also by environmental fears,” the analyst stated.

Greenback Tree (DLTR) — Greenback Tree reported mixed quarterly results for the fourth quarter, sending the inventory down 1.6%. The lower price retailer posted a earnings of $1.79 per share, beating a Refinitiv estimate of $1.75 for every share. Nevertheless, the firm’s $6.32 billion in revenue was beneath analysts’ estimate of $6.39 billion.

CNBC’s Michael Bloom contributed to this report.



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