Market Overview

Top Trending Tickers On StockTwits For February 26

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Here's a look at the top tickers trending on StockTwits.com.

Yandex: Teaming up with Google

Russia's largest search engine Yandex (NASDAQ: YNDX) has inked an agreement of cooperation with Google.

Under the agreement, Google's advertising clients will gain access to Yandex's advertising inventory and vice verca. The partnership will result in a larger number of advertising bids which will boost revenue for the all important advertising spaces in search results.

The agreement only relates to display advertising and not text-based contextual advertising.

Yandex's agreement with Google comes weeks after the company signed an agreement with Facebook to access to content from some of the social networking site's users.

Yandex has an approximate 60 percent market share in Russia.

Shares of Yandex were trading higher by 4.48 percent in the pre-market session.

Tesla: Found an investor for its gigafactory, but will it accept?

As Tesla (NASDAQ: TSLA) moves forward with its “gigafactory” plans, the company may have found a partner.

Tesla's gigafactory would be responsible for producing battery packs for a future mass-market electric call. The “giga” refers to the company's needs to build an infrastructure that can produce the equivalent of all of the world's current production of lithium ion batteries.

Investors are waking up to news that Panasonic Corp wants to play a role in the gigafactory which is expected to be up and running in 2017, in time for Tesla's fully electric sedan that will sell for around $30,000 to $40,000.

Panasonic is interested in investing 100 billion yen, or $979 million, according to the Nikkei business daily. Tesla already has a relationship with Panasonic who is the primary supplier of lithium-ion batteries for Tesla's cars.

Elon Musk, Tesla's CEO is expected to reveal further details of his plans in the coming days, which may or may not include further details about Panasonic's investment.

Shares were trading higher by 4.25 percent in the pre-market session.

Target: Earnings beat but grey outlook

This morning, Target (NYSE: TGT) reported its fourth quarter results. The company announced an EPS of $1.30, beating the consensus estimate of $0.82. Revenue of $21.52 billion beat the consensus estimate of $21.46 billion. Net earnings for the quarter totaled $520 million, compared to $961 million in the same quarter last year.

Revenue at stores open at least a year fell 2.5 percent as the company said that customers were hesitant to return following the massive data breach, but the company wants to win back these consumers:

“Results softened meaningfully following our December announcement of a data breach, said Gregg Steinhafel, chairman, president and chief executive officer of Target Corporation. "As we plan for the new fiscal year, we will continue to work tirelessly to win back the confidence of our guests and deliver irresistible merchandise and offers, and we are encouraged that sales trends have improved in recent weeks.”

Target issued downside guidance and sees its first quarter EPS to be $0.60 to $0.75, lower than the consensus estimate of $0.85. For full year fiscal 2015 the company sees its EPS to be $3.85 to $4.15, versus the consensus estimate of $4.15.

Share were trading higher by 0.88 percent in the pre-market session.

First Solar: Tough quarter

Last night, First Solar (NASDAQ: FSLR) reported its fourth quarter results. The company announced an EPS of $0.89, missing the consensus estimate of $0.99. Revenue of $768 million missed the consensus estimate of $965.38 million. Gross margin in the quarter fell 420 bps quarter over quarter and down 270 bps year over year to 24.6 percent. Net income for the quarter totaled $65.26 million, compared to $154.18 million in the same quarter last year.

The company noted that its poor performance was due to a pre-tax restructuring and asset impairment charges of $24.9 million primarily related to an additional write-down, due to a change in marketing strategy.

The company considers 2013 to be a successful year which should carry forward in to 2014:

“The fourth quarter and full-year 2013 shows our Company's continued progress in achieving the strategic objectives we outlined during our Analyst Day event in April,” said Jim Hughes, CEO of First Solar. “For the year completed we delivered on several key objectives, including additional bookings of approximately 1.7GWdc, significant reductions to our module manufacturing cost, and a strong financial performance. As we move into 2014 the company remains focused on continuing to achieve our strategic objectives to ensure future success.”

First Solar issued downside guidance and sees its first quarter revenue to be $800 million to $900 million versus a consensus estimate of $898.3 million and an EPS of $0.50 to $0.60, largely below the consensus estimate of $0.84.

Shares were trading lower by 13.3 percent in the pre-market session.

Abercrombie & Fitch: Rare earnings beat for fashion retailer

As Aeropostale considers a sale of the company and American Apparel faces an uncertain future, Abercrombie & Fitch (NYSE: ANF) may have surprised some investors with a solid quarterly results.

This morning, Abercombie reported its fourth quarter results and announced an EPS of $1.34, beating the consensus estimate of $1.05 million. Revenue of $1.3 billion beat the consensus estimate of $1.29 billion. Net income for the quarter fell to $66.1 million from $157.2 million in the same quarter last year. The company also approved an accelerated $150 million share accelerated repurchase plan to be executing during the first quarter.

2013 was not an easy year for the company and management admitted to its struggles:

“2013 was a challenging year, with sales and earnings falling well short of the objectives we set at the beginning of the year,” said Mike Jeffries, Chief Executive Officer of Abercrombie & Fitch. “After three years of positive growth in our combined U.S. chain stores plus direct-to-consumer comparable sales metric, that metric turned negative in 2013 against the backdrop of a challenging retail environment, particularly in the teen space. It is important that we return to positive growth, particularly in our core U.S. business, and the steps we are taking as we execute against our long-range strategic plan should put us in a position to achieve this goal.”

Shares were trading higher by 4.89 percent in the pre-market session.

Posted-In: abercrombie & fitch Aeropostale Elon Musk First Solar Gigafactory Google Advertisement Gregg SteinhafelNews Best of Benzinga

 

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