Check out the companies making headlines before the bell: Target — Shares fell more than 17% after the Minneapolis-based retailer missed third-quarter earnings and revenue estimates and cut its full-year guidance, just three months after raising those forecasts. Target reported only a slight uptick in customer traffic, and its CEO noted “continued weakness in discretionary categories.” Comcast — Shares rose more than 2% after owner NBCUniversal said it would spin off its cable assets, including CNBC and MSNBC, into a separate, publicly owned company. The Brian Roberts-led company said the demonstration is expected to take about a year. Goldman Sachs and Morgan Stanley advised the parent company. Delta Air Lines – The Atlanta-based carrier fell more than 1% after it reiterated its forecast for the fourth quarter. Delta expects sales to grow at a mid-single-digit rate next year, in line with analyst expectations. Nio – US stocks fell more than 2% after the Chinese electric car maker reported lower-than-expected revenue for the third quarter. Nio's total sales were 18.67 billion yuan for the period, down 2.1% year-on-year. Analysts surveyed by FactSet estimated it at 19.13 billion yuan. Dolby Laboratories – Shares rose nearly 15% after the audio technology company's quarterly results beat Wall Street estimates. Dolby earned 61 cents per share in its fiscal fourth quarter, above analyst estimates of 45 cents per share, according to FactSet. Dolby also raised its quarterly dividend by 10% to 33 cents per share, payable on December 10. Robinhood – Shares rose more than 3%, extending Tuesday's gains. On Wednesday, Needham upgraded the stock to buy from hold. The financial services platform said it has acquired TradePMR for about $300 million to bolster its advisory capabilities. Keysight Technologies – Shares of the electronics test and measurement equipment maker rose more than 9% after better-than-expected fourth-quarter financial results. Keysight also gave an upbeat outlook for the current quarter, forecasting adjusted earnings of between $1.65 and $1.71 per share versus analysts' consensus estimate of $1.57, according to FactSet. AppLovin – Shares rose 2.3% after Piper Sandler initiated research coverage of the mobile app developer with an overweight rating and a price target that implied the stock would see greater upside in the future, even after rising more than 700% in 2024. Powell Industries – Shares The electrical equipment company fell 13% after new orders in the fiscal fourth quarter fell to $267 million from $356 million in the third quarter. According to FactSet, fourth-quarter revenue beat analyst estimates, while earnings per share beat expectations. Super Micro Computer – Shares fell more than 2% after rising more than 31% on Tuesday. The server maker announced that it has appointed BDO as its new auditor and has submitted a plan to the Nasdaq Stock Exchange outlining how it will comply with listing requirements. Netflix – Shares rose nearly 1% after Netflix said last week's boxing match between former heavyweight champion Mike Tyson and Jake Paul attracted 108 million global viewers, making it the most-streamed global sporting event of all time. — CNBC's Alex Haring, Jesse Pound, Pia Singh and Sarah Min contributed reporting. Disclosure: Comcast owns NBCUniversal, the parent company of CNBC.
Trending
- Donald Trump has chosen hedge fund executive Scott Besent to be Treasury Secretary
- The top 10 S&P 500 stock winners since Election Day
- Musk's cutting of government agencies and regulation benefits the empire
- Stock Market Today: Live Updates
- How billionaire women create, spend, and donate their wealth
- The report says Trump may appoint Kevin Warsh as Treasury Secretary and later as Federal Reserve Chairman
- Live updates for Asia Pacific markets: Japan CPI, Singapore GDP
- European tech CEOs urge 'Europe first' mentality after Trump win
TGT, DLB, NIO, NFLX and more
