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Stock Market Highlights: Toll Brothers, Microchip Technology, ...
2024-08-21 05:50:08
Stocks
Business
Markets

Stock Market Highlights: Toll Brothers, Microchip Technology, and More

Toll Brothers exceeded Q3 earnings expectations and raised its FY guidance. Microchip Technology faced IT issues in its filing.

Keysight surpassed Q4 revenue guidance, while Coty missed Q4 estimates with a surprise loss. AMD and Estée Lauder stocks rose, but HP declined.

The S&P 500, Nasdaq, and Dow saw gains of around 0.5%, with Nvidia, Tesla, and Alphabet climbing, and Apple, Starbucks, and Domino's falling. Toll Brothers increased its 2024 guidance after strong Q3 results, citing factors like lower mortgage rates.

Elliott Management's actions in Texas Instruments, Southwest Airlines, and Starbucks influenced market movements. Notable stock performers include Netflix, Walmart, and Eli Lilly, while Starbucks appointed Brian Niccol as CEO.

Related news on that topic:

Asian Stocks to Get Boost From Bullish Wall Street

Asian stocks are expected to rise, led by Japan, following the gains on Wall Street. The S&P 500 has reached an 8-day winning streak, with the equal-weighted index reaching a record high. Investors are optimistic ahead of the Fed commentary at the Jackson Hole Symposium, where the Bank of Japan Governor Ueda will also speak on the rate hike path. In other news, AMD is set to acquire server maker ZT Systems, boosting data center technology. Estée Lauder forecasts lower revenue growth, while Sonder soars on a Marriott deal. Kroger seeks to block an FTC case against the Albertsons merger, and Couche-Tard proposes a takeover of 7-Eleven owner Seven & i. GM is cutting over 1,000 software engineers, and Circle K operator Couche-Tard has expressed interest in 7-Eleven. Traders are eyeing the Fed's Summary of Economic Projections for hints on rate cuts, and JPMorgan traders see material upside for US stocks into year-end.

Coty Inc. Excels in Q4 2024 Despite Challenges

Coty showcased impressive Q4 and FY 2024 results with notable revenue and EBITDA growth. The company's success is attributed to its standout performance in the beauty market, driven by successful fragrance launches like Burberry Goddess and Gucci Flora Gorgeous Orchid. Coty emphasized marketing strategies that enhanced iconic brands such as Rimmel and CoverGirl, resulting in significant growth across Prestige and Consumer Beauty segments. Despite facing setbacks like a loss in FQ4 due to the equity swap mark-to-market, Coty remains optimistic for FY25, aiming for substantial revenue growth led by prestige fragrances and travel retail business expansion.

Read 3 more recent news on this topic

The press radar on this topic:

The Street
21. August 2024 um 17:20

AMD, Estée Lauder up, HP down - Stock movers TheStreet Daily Newsletter

Finance
Economy
Technology
Politics
Stocks saw moderate gains, with the S&P 500, Nasdaq, and Dow up around 0.5%. Nvidia, Tesla, and Alphabet rose, while Apple, Starbucks, and Domino's fell. Ulta Beauty rallied after a Berkshire stake. Estée Lauder beat Q4 earnings but gave a weak outlook, citing continued China declines in fiscal 2025, per CEO Fabrizio Freda. Morgan Stanley downgraded HP ahead of fiscal Q3 results. AMD surged on its $4.9B ZT Systems deal, which analyst Ben Bajarin said boosts its data center strategy.
seekingalpha
20. August 2024 um 21:14

Toll Brothers raises 2024 guidance after fiscal Q3 earnings top consensus

Economy
Finance
Toll Brothers ( NYSE: TOL ) boosted its 2024 guidance for home deliveries and adjusted home sales gross margin after Q3 earnings and revenue beat estimates. The company cited lower mortgage rates, favorable demographics, and supply-demand imbalance as reasons for optimism. It reported adjusted EPS of $3.60, revenue of $2.73B, a backlog value of $7.07B, 6,769 homes in backlog, and expects $600M in share buybacks in fiscal 2024. The company will hold a conference call on Aug. 21 at 8:30 a.m. ET.
CNBC
20. August 2024 um 21:42

Toll Brothers' shares rise in after-hours trading after Q3 beat

Economy
Finance
Alan Ratner, Zelman & Associates managing director, joins 'Closing Bell Overtime' to talk Toll Brothers' earnings.
CNBC
20. August 2024 um 21:05

Stocks making the biggest moves after hours: Toll Brothers, Microchip Technology and more

Finance
Economy
Technology
Toll Brothers beat Q3 earnings, raised FY guidance; Microchip Tech detected IT issues in filing; Keysight beat Q4 revenue guidance; Coty missed Q4 top/bottom lines vs. Wall St. estimates, reported surprise loss.
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