High-flying Micron (MU) shares got another boost after it beat on earnings and lifted forward guidance. The chipmaker cited strong demand for DRAM components, which are critical to “the cloud” and the smartphone in your pocket.
Stitch Fix (SFIX) might have skipped a stitch. Shares of the newly public startup tumbled over 9%. The personal styling firm posted strong customer gains, but earnings were squeezed by spending on the company’s entry into new apparel categories.
Just in time for the holidays, FedEx (FDX) delivered better than expected profits and painted a rosier picture for 2018. The courier also added that tax cuts would boost their outlook even more.
Shares of Longfin (LFIN) are continuing their wild ride. After the firm acquired Ziddu, a company that has its funds exclusively in cryptocurrency, shares surged 1,000%. That prompted the CEO to declare the rise in market cap unjustified, and shares subsequently plummeted. Shares are now bouncing back, up about 3%.
Alcoa (AA) shares are trading slightly higher on an upgrade to outperform from neutral at Credit Suisse. Analysts cited expectations for a tighter aluminum market next year as well as the potential for the aluminum producer to initiate a dividend or share buybacks in 2018.
Shares of Jack In The Box (JACK) slipping after Jefferies downgraded the stock from buy to hold, noting limited upside due to an increasingly competitive quick-serve restaurant environment.