Equities

Lennar, TD Ameritrade, Stitch Fix, Twitter & more


Check out the companies making headlines before the bell:Lennar – The homebuilder reported profit of $1.59 per share for its third quarter, beating the consensus estimate of $1.32 a share. Revenue also exceeded Wall Street forecasts. The volume of new orders rose 9% from a year earlier, although the dollar value of those new orders was up just 3%.TD Ameritrade – TD Ameritrade said Tuesday its online brokerage operation will eliminate commissions for stocks and exchange-traded funds, effective Thursday. That follows a similar move by Charles Schwab earlier in the day that hit stocks of its rivals like TD Ameritrade, which fell more than 25%, and E*Trade Financial, which dropped more than 16%.Stitch Fix – Stitch Fix reported quarterly earnings of 7 cents per share, 3 cents a share above estimates. Revenue matched forecasts, however the online clothing style service gave a lower-than-expected current-quarter forecast. Stitch Fix President and Chief Operating Officer Mike Smith told Barron’s that the summer selling season is lasting longer than expected, with summer goods having a lower average selling price than autumn clothing.Twitter – Twitter’s website and TweetDeck dashboard management platform are back up and running, following a worldwide outage that affected thousands of users. Twitter did not give a specific reason for the outage.Johnson & Johnson – J&J settled lawsuits by two Ohio counties for $20.4 million, with those settlements allowing the health-care company to avoid an upcoming federal trial on responsibility for the nation’s opioid epidemic.Facebook – Facebook is seeing partners in its planned Libra payment network reconsider their involvement, according to The Wall Street Journal. Visa and MasterCard are among the companies said to be rethinking their commitment.Stars Group – Stars Group and FanDuel parent Flutter Entertainment have agreed to merge in an all-stock deal that will create the world’s largest online gambling company. Stars Group is the parent of online poker cardroom PokerStars.Tesla – Tesla is on schedule to start production in China this month, according to a Reuters report, but sources with knowledge of the matter say year-end production targets remain in doubt. Tesla is planning to make at least 1,000 new Model 3 vehicles per week from the new factory by year-end.Live Nation – Jefferies rates the live entertainment promoter’s stock as a “buy” in new coverage, citing prospects for strong growth and execution, as well as support from new acquisitions.Monster Beverage – Guggenheim Securities downgraded the beverage maker’s stock to “neutral” from “buy,” predicting the stock will be rangebound for the next six to nine months. Guggenheim feels the next possible catalyst will be when the market can gauge the impact of the planned January launch of the Coca-Cola Energy beverage in the U.S.Activision Blizzard – The video game publisher’s stock was downgraded to “underperform” from “market perform” by Bernstein, saying it cannot reconcile the current stock price with company fundamentals after a 25% rally since late May.

Show More

Related Articles

Close