Solar Shockwave Hits Europe
Today, SolarEdge Technologies (SEDG) took a 25% nosedive as it revealed unexpected order cancellations by European distributors in Q3. This follows their prior warning about slumping U.S. sales. Other solar players like Enphase Energy (ENPH), Sunrun (RUN), and SunPower (SPWR) also felt the heat.
Swift Success for Knight-Swift
Knight-Swift Transportation (KNX) soared nearly 18% pre-market by offsetting a 22% drop in Q3 core truckload revenue. They managed an impressive 6.5% increase in overall revenue, reaching $2.02 billion, surpassing analyst predictions.
CSX’s Cautious Chug Ahead
CSX Corp. (CSX) expects the slower rail shipping trends to linger due to retailer caution. Earnings per share hit $0.42, slightly under analysts’ $0.43 estimate, but revenue at $3.57 billion exceeded the expected $3.55 billion. Pre-market trading saw CSX shares dip by 1%.
HPE: Guidance Miss Hits Hard
Hewlett Packard Enterprise Co. (HPE) faces a 5% pre-market drop as fiscal 2024 guidance falls short. Their projected earnings of $1.82 to $2.02 a share don’t align with the forecasted $2.15 a share. Revenue projections of $29.15 billion missed the mark, with analysts expecting $29.63 billion.
CVS’s Medicinal Maneuver
CVS Health Corp. (CVS) is adjusting its stock by removing select over-the-counter allergy and cold medicines. The decision comes after the U.S. Food and Drug Administration flagged phenylephrine, a primary ingredient, as ineffective when taken orally. CVS plans to continue selling other oral cough and cold products.
Stay in the loop, stay ahead of the game. The markets are always on the move, and these swift changes are your cues to success.