Walmart Inc (NYSE:WMT) (The Motley Fool)
What happened: Shares of Walmart (NYSE:WMT) were tumbling today after the retail giant posted disappointing results in its fourth-quarter earnings report. Growth in the hot e-commerce division slowed and the company reported a lower-than-expected profit for the key holiday quarter. As of 11:01 a.m. EST, the stock was down 9.8%. So what: The stock’s slide may have had more to do with inflated expectations than weakening performance as strong comparable sales (comps) continued.
Voyager Therapeutics Inc (NASDAQ:VYGR) (Benzinga)
Voyager Therapeutics Inc climbed 20.5 percent to $23.32 as the company announced plans to collaborate with Abbvie on treatments for Alzheimer’s disease.
Noble Energy, Inc. (NYSE:NBL) (Reuters)
(Reuters) – U.S. oil and gas producer Noble Energy Inc (NBL.N) reported adjusted quarterly profit on Tuesday that easily beat analyst estimates due to cost cuts and higher crude prices, sending shares surging more than 7 percent in morning trading. The results came as Noble’s U.S. shale oil production jumped in the fourth quarter through Dec. 31, reflecting the greater attention the industry is giving to improving profit and output. Houston-based Noble plans to spend $2.8 billion each year through 2020, about 6 percent more than it spent in 2017.
MiMedx Group Inc (NASDAQ:MDXG) (MarketWatch)
Biotech MiMedx Group Inc.’s shares MDXG, -38.08% were halted in premarket trade after falling 23%, for news that the company is delaying the release of fourth-quarter and full-year 2017 earnings to conduct an accounting review. The audit committee has hired legal and accounting advisers to conduct an internal investigation of allegations relating to sales and distribution practices. Executives are reviewing the accounting treatment of certain distributor contracts, among other items.
Dine Brands Global (NYSE:DIN) (The Motley Fool)
What happened: Shares of Dine Brands Global (NYSE:DIN), formerly known as DineEquity, jumped on Tuesday after the restaurant company reported its fourth-quarter results. Dine Brands beat expectations for both revenue and earnings, and the comparable-sales picture for its Applebee’s and IHOP brands looked far less dire than in previous quarters. As of 11:15 a.m. EST, the stock was up about 17.5%. So what: Dine Brands reported fourth-quarter revenue of $148.8 million, down 3.5% year over year but about $0.8 million higher than the average analyst estimate.
Gap Inc (NYSE:GPS) (MarketWatch)
Shares of Gap Inc. GPS, -4.51% slide more than 3% Tuesday, after the company said its Gap brand Chief Executive Jeff Kirwan is leaving, prompting KeyBanc analysts to downgrade the stock to sector weight from overweight. “A change to Gap banner underscores structural weakness at the brand,” analysts led by Edward Yruma wrote in a note. Kirwan was in the CEO role since December of 2014, “and we do have some concerns that issues (product, brand perception, store fleet) with Gap banner may be difficult to fix,” said the note.
Snap Inc (NYSE:SNAP) (Business Insider)
Snap fell as much as 6% Tuesday after Citigroup downgraded the stock to sell from neutral and lowered its price target to $14 a share. While Citi acknowledged that the redesign could have a positive long-term impact on the photo-sharing company, it cited an app review from App Annie showing that, since November, Snap’s apps reviews have declined. Five star ratings went from 2.1% to 1.3% in that span, and one star ratings went from 28% to 86%.
Ubiquiti Networks Inc (NASDAQ:UBNT) (Benzinga)
Ubiquiti Networks Inc shares tumbled 26.8 percent to $54.18 following earlier 8-K highlighting SEC subpoenas to the company requesting documents related to ‘range of topics’ including accounting practices, financial info, auditors and international trade practices.
HSBC Holdings PLC (ADR) (NYSE:HSBC) (CNBC)
HSBC – HSBC reported a lower-than-expected annual profit, although the banking company’s earnings were more than double year-ago levels. HSBC also announced a plan to raise up to $7 billion over the next four months to boost its capital levels.