Hasbro Toys Inc. based on the movie “Marvel’s The Avengers” line the shelves at a Target Corp. store. in Union, New Jersey, USA, on Wednesday, August 22, 2012.
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Check out the companies making headlines in midday trading on Tuesday.
Hasbro — Shares of the toy company fell 2.3% after the company reported third-quarter earnings that missed expectations. CEO Chris Cocks blamed “increased price sensitivity” among consumers and excess inventory.
Salesforce — Salesforce shares gained 5.2% after Starboard Value disclosed to CNBC that it has taken a “significant” stake in the software giant. Starboard founder Jeff Smith did not disclose the exact amount, but said he sees a big opportunity as the stock has fallen more than 40% this year.
Carnival Corporation — Shares of the cruise company jumped more than 12% after one of Carnival’s subsidiaries began a $1.25 billion offering of senior notes due 2028. The company plans to use the net proceeds of the offering to make payments principally for debt and for other general corporate expenses, according to a regulatory filing. Norwegian Cruise Line Holdings and Royal Caribbean also rose 8.8% and 7.6%, respectively, according to the news.
Goldman Sachs — Goldman Sachs rose 3% after beating analysts’ expectations for third-quarter profit and revenue with better-than-expected results. The company also announced a corporate reorganization that combines the firm’s four main divisions into three.
The aim — Shares of the retailer jumped 5% after Jefferies upgraded Target to a buy from hold, saying they could rally about 20% from current levels and benefit from both easing supply chain issues and improving inventory positioning.
Lockheed Martin — Shares of the aerospace company jumped 8.5% after Lockheed reported third-quarter earnings of $6.87 a share excluding items, topping a Refinitiv estimate of $6.66 a share.
Amazon — Amazon added 2.7% after Citi called it a top pick for both a hard and soft economic downturn, saying it would perform well in either scenario.
XPO Logistics — XPO Logistics fell 1.7% after the freight company posted disappointing preliminary quarterly results ahead of its earnings release. The company said Monday it expects revenue to be lower than analysts expect, but that earnings before interest, taxes, depreciation and amortization will be higher. The company reports on October 31.
Nordstrom — Shares of the retailer added more than 3% after the company announced that its chief financial officer, Anne Bramman, will step down in December. Nordstrom has begun its search for her successor and said chief accounting officer Michael Maher will serve in that role at this time.
Envy — The wood pellet maker rose 4.7% after Raymond James said its value as a more environmentally and socially responsible energy provider has been misunderstood.
– CNBC’s Carmen Reinicke, Alex Harring and Michelle Fox contributed reporting
