Target Corporation's stock slipped nearly 2% after the retailer raised its fourth-quarter guidance for comparable sales. The company now forecasts revenue to range from $25 billion to $25.8 billion, surpassing analysts' expectations of $24.6 billion, according to FactSet. Despite the upward revision, investors appeared cautious, leading to the decline in stock value.
DigitalOcean faced challenges as its stock did not reflect its potential to serve larger customers. The firm has been giving "little to no credit" to opportunities in artificial intelligence and machine learning, which may have impacted investor confidence. Meanwhile, U.S. Bancorp experienced a significant decline, with shares dropping 5.6%.
In contrast, Netflix saw a 1% increase in its stock price following an upgrade from Seaport, which moved the streaming giant from neutral to buy. Sezzle also provided an optimistic update, expecting its full-year revenue to exceed previous forecasts and grow by more than 55%.
Blue Owl Capital's shares increased by 3.5% after TD Cowen upgraded the company from hold to buy, signaling potential growth. Morgan Stanley received positive attention as well, with its stock price rallying nearly 3% after posting fourth-quarter results that exceeded Wall Street estimates. The firm's adjusted earnings were reported at $1.07 per share, surpassing the consensus estimate of $1.05 per share.
UnitedHealth also beat earnings estimates, reporting adjusted earnings of $6.81 per share, showcasing strong performance in the healthcare sector. First Solar experienced a nearly 4% jump in shares after Seaport highlighted its "best risk-reward profile specific to policy," bolstering investor interest.
Taiwan Semiconductor Manufacturing gained approximately 5% after releasing higher-than-expected revenue guidance for the current quarter, which contributed significantly to the positive sentiment surrounding its stock.