U.S. stocks closed higher on Tuesday trading, as consumer and technology stocks edged up after Monday’s presidential debate.
After the market closed, shares of Alphabet Inc GOOGL GOOG lost about 1 percent, following a demotion at Wedbush downgrade. Analysts trimmed their price target from $800 to $700, citing concerns about the prompt arrival of “self-identified consumers, consumer control of IP-delivered ads, payments innovation, and attention markets.”
Nike Inc NKE, tumbled more than 4.25 percent after reporting its Q1 results. While EPS of $0.73 and sales of $9.06 billion beat estimates by $0.17 and $190 million, respectively, futures orders, up 7 percent on a currency-neutral basis, missed the Street’s expectations for 8.3 percent.
Cintas Corporation CTAS gained more than 4 percent since the bell rang, driven by a Q1 top and bottom line beat. EPS of $1.26 beat the Street’s consensus by $0.18, while revenue of $1.29 billion came in $10 million ahead of expectations. Full year guidance was also encouraging: management said it expects EPS from continuing operations of $4.55-$4.63, above the Street’s estimate of $4.42.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.