Today's Morning Movers and Top Ratings: TSLA, LHX, PFE, LUV and More
Morning Movers
Gapping up
$L3Harris Technologies(LHX.US$ U.S. defense contractor L3Harris said on Tuesday it would suspend its merger and acquisition activity for the "foreseeable future" to strengthen balance sheet and forecast full-year revenue above analysts' estimates.
The company said it expects revenue at around $21 billion for 2024. Analysts on average were expecting about $19 billion, according to LSEG data. The shares rose by 0.85% in the premarket trading.
$Roblox(RBLX.US$ Shares of the video game company rose 1.5% after Wells Fargo initiated coverage of Roblox with an overweight rating. The investment firm said that the potential revenue from advertising on Roblox is underappreciated by the market.
Gapping down
$Pfizer(PFE.US$ on Wednesday forecast 2024 revenue and profit below Wall Street expectations, sending its shares down 7% in premarket trading even as it raised cost-cut target by $500 million. A drop in annual vaccination rates and demand for the treatments in 2023 have forced the company to launch a program in October to cut jobs and expenses to save at least $4 billion a year.
The U.S. drugmaker expects its annual revenue to be in the range of $58.5 billion to $61.5 billion compared with analysts' average estimate of $63.17 billion, according to LSEG data. The company also forecast adjusted profit in the range of $2.05 to $2.25 per share, lower than analysts' expectation of $3.16.
$Southwest Airlines(LUV.US$ on Wednesday raised its forecast for fourth-quarter fuel costs, sending its shares down 1.4% in premarket trading.
Southwest forecast economic fuel costs of $3.00 to $3.10 per gallon, compared with its previous estimate of $2.90 to $3.00 per gallon.
$Tesla(TSLA.US$ Shares fell 1.2% after U.S. safety regulators said Tesla will recall more than 2 million vehicles to fix issues with its driver assistance system. The electric vehicle maker will send out a software update to fix the problem, which impacts models Y, S, 3 and X produced between Oct. 5, 2012 and Dec. 7, 2023.
Source: CNBC; Investing.com
US Top Rating Updates on 12/13
Source: Dow Jones
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