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Today's Morning Movers and Top Ratings: FSLR, EFX, MSFT, LULU and More

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Movers and Shakers wrote a column · Dec 8, 2023 07:28
Morning Movers
Gapping up
$Carrier Global(CARR.US)$ Shares popped nearly 6% following the announcement that Carrier agreed to sell its Global Access Solutions Business to Honeywell for $4.95 billion in cash. $Honeywell(HON.US)$ 's stock slipped 2.4%.
$First Solar(FSLR.US)$ The solar stock rallied 3.2% after being upgraded to overweight from equal weight by Morgan Stanley. The bank said it sees a number of drivers that can push the stock sharply higher next year. Morgan Stanley also hiked its price target to $237 from $214, suggesting 64% upside from Thursday's close.
$Qorvo(QRVO.US)$ Shares added 1.4% after Morgan Stanley upgraded the chipmaker to overweight from equal weight, citing demand growth in China and the benefit from the transition to 5G.
Gapping down
$Lululemon Athletica(LULU.US)$ reported fiscal third-quarter results that topped Wall Street estimates, but the athletic apparel maker's revenue guidance for the holiday season quarter fell short of estimates.
Comparable sales increased 13%, with direct-to-consumer net revenue up 18%. For the next quarter, the company sees diluted EPS in the range of $4.85 to $4.93, in-line with estimates of $4.93 per share and revenue in the range of $3.14B to $3.17B, missing estimates of $3.18B.
The stock fell more than 2.5% in pre-market Friday following the results.
$Microsoft(MSFT.US)$ The UK Competition and Markets Authority (CMA) is actively assessing the nature of Microsoft's collaboration with OpenAI, the regulator said today. The CMA aims to determine if such a situation may potentially lead to a significant reduction in competition within specific markets for goods or services in the United Kingdom. Microsoft shares fell 0.5% on the report.
$Restoration Hardware(RH.US)$ Shares of the company formerly known as Restoration Hardware dropped 8% in premarket trading after RH's third-quarter revenue came in below expectations. The company reported net revenues of $751 million, while analysts surveyed by LSEG were looking for $757 million.
Source: CNBC; Investing.com
US Top Rating Updates on 12/08
Today's Morning Movers and Top Ratings: FSLR, EFX, MSFT, LULU and More
Source: Dow Jones
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