Stocks mostly went up on Tuesday, after going down earlier after Federal Reserve Gov. Christopher Waller said he needs to see “several more months of good inflation data” before he’ll think about lowering interest rates.
On Tuesday, these stocks were moving:
Palo Alto Networks reported an adjusted profit of $1.32 per share for the fiscal third quarter, which was higher than the $1.25 per share that analysts had expected. However, shares fell 2.7% after the cybersecurity company gave investors a less-than-impressive outlook for the fourth quarter. Palo Alto thought that it would make between $2.15 billion and $2.17 billion in sales and $3.43 billion to $3.48 billion in billings in the fiscal fourth quarter. Wall Street thought that the company would make $2.16 billion in sales and $3.45 billion in billings during that time.
The price of XPeng shares in the U.S. went up 4% after the Chinese company that makes electric vehicles reported a smaller first-quarter loss than the previous year and said it expects to deliver 25% to 38% more vehicles in the second quarter, for a total of 29,000 to 32,000 vehicles.
Peloton Interactive went down by 15%. A company that helps people work out at home wants to raise $275 million in convertible senior notes due 2029 in a private offering. The business will also take out a $1 billion term loan facility and a $100 million revolving credit facility, both with terms of five years.
Keysight Technologies’ stock dropped 9.5% after the company said it expected fiscal third-quarter adjusted earnings of between $1.30 and $1.36 a share on revenue of $1.18 billion to $1.2 billion. This was less than what analysts had expected, which was $1.45 a share in profits and $1.21 billion in revenue.
It dropped 17% after the National Highway Traffic Safety Administration said it would look into a crash involving a VinFast VF8 SUV that killed one person in April.
The price target for shares of the biggest solar company in the country, First Solar, went up by 6.1% to $208.29 after analysts at UBS and Piper Sandler did the same. UBS raised its goal from $252 to $270, and Piper Sandler raised its goal from $195 to $219.
Nordson, a company that makes equipment for dispensing adhesives and coatings, lowered its sales forecast for the fiscal year because the end markets for electronics are still weak. The stock fell 8.9% in premarket trading.
Analysts had predicted that Lowe’s would make $2.95 per share in the first quarter, but the company actually made $3.06 per share. Revenue of $21.4 billion was more than the $21.1 billion that was expected. Sales at the same store fell 4.1% during that time. After going up after Lowe’s earnings report came out, shares went down 2.9%.
Macy’s stock went up 1% after the store reported earnings for the first quarter that were better than expected and slightly higher than expected for the fiscal year ending in January. CEO Tony Spring said, “Even though it’s still early days, our investments in product, presentation, and experience are paying off. This makes us even more confident that Macy’s, Inc. can return to long-term, profitable growth.”
There was a 2% rise at Lam Research. As part of its buyback program, the company that makes equipment for making chips said its board gave the go-ahead for a 10-for-1 stock split in October.
