The Colorox brand toilet cleaner is on display in a supermarket in Princeton, Illinois.
Daniel Acker | Bloomberg | Getty Images
Check out the companies making headlines on Monday lunchtime:
SolarEdge Technologies The solar panels maker’s shares rose more than 4% ahead of the company’s third quarter results to be released after the bell. Research firm Roth Capital Partners raised its equity target to $ 300 from $ 191 the Monday before the report and expects the company to deliver “healthy” results. Other names in the solar industry, including First Solar, Sunrun, and SunPower, traded higher on Monday amid betting on a Joe Biden presidency.
Under armor – The sports retailer’s share fell 6.1% after upgrading to purchase at Stifel. The Wall Street company cited an improvement on the balance sheet for upgrading the company. The price target was raised from $ 11 to $ 17 per share.
Clorox – The disinfectant maker’s shares rose more than 4% on Monday on strong quarterly results. Clorox reported earnings of $ 3.22 per share on sales of $ 1.92 billion. According to Refinitiv, Wall Street had forecast earnings of $ 2.32 per share on sales of $ 1.76 billion. Household goods sales rose 39% year over year, slightly exceeding expectations.
DR. Horton, Lennar – An analyst at Atlantic Equities initiated the two builders with overweight ratings and pointed to “strong structural tailwind” as the real estate market continues to gain momentum. Shares of D.R. Horton rose 3.1% and Lennar 2.1%.
lemonade The insurance portfolio grew 6.1% after Piper Sandler initiated coverage for lemonade with an overweight rating. The company described the company as “disruptive” and forecast growth between different products and regions.
Wood liquidators – Shares fell roughly 19% on better-than-expected results for the third quarter. The company had adjusted earnings per share of 67 cents on sales of $ 295.8 million. According to FactSet, analysts expected earnings of 26 cents per share on sales of 275.6 million US dollars. “Our sales trends accelerated when we saw our Pro and Install customers sequentially improve from the second quarter through the third quarter,” said CEO Charles Tyson in a statement.
Nielsen Holdings The media data capture company’s stocks rose 5.5% on quarterly results that exceeded analysts’ expectations. Nielsen posted earnings of 43 cents per share on sales of $ 1.56 billion. Analysts polled by FactSet expected earnings of 39 cents per share on sales of $ 1.52 billion. The company also issued a better than expected earnings and sales forecast for the year.
ON Semiconductor The chipmaker was down 2% despite the company announcing better-than-expected third-quarter results over the weekend. The company achieved a profit of 27 cents per share, exceeding a FactSet forecast of 20 cents per share. Revenue was $ 1.32 billion, better than analysts forecast, but down 5% year over year. ON Semiconductor’s forecasts also exceeded expectations, according to FactSet.
Norwegian cruise line – Norwegian Cruise Line fell 3.8% after the cruise operator announced it was extending its trip suspension for its three brands through 2020. “The company will continue to work with the world government and health authorities as well as the expert advisors of the Healthy Sail Panel to take all necessary measures to protect its guests, crew and the communities visited,” said a statement from Norwegian.
Dunkin ‘brands – Dunkin ‘Brands rose more than 6% after the coffee chain agreed to be privatized by Inspire Brands. Inspire will acquire Dunkin for $ 106.50 per share in cash. The deal is worth approximately $ 11.3 billion, including Dunkin’s debt.
– CNBC’s Pippa Stevens, Jesse Pound, Yun Li and Maggie Fitzgerald contributed to this report.