Lyft, 3M, Lululemon and more

A woman walks past a Bed Bath & Beyond branch on January 11, 2023 in New York City.

Leonardo Munoz | View Press | Corbis News | Getty Images

Check out the companies making headlines in Tuesday afternoon trading.

lyft – The ride-sharing app’s stock rose 1.5% Upgrade to Sector Weight Overweight by KeyBank. The firm said cost saving strategies like layoffs and steady demand could support the stock.

Related Investment News

Bernstein downgrades Lululemon, warns a reset is coming for the apparel stock

cnbc pro

bed Bath and Beyond – The retail stock rose 13% as traders continued to pile up heavily-priced names. Bed Bath & Beyond warns of potential bankruptcy and recently expanded its legal team beyond the potential Admission, Shares of the meme-stock favorite are up 32% year to date.

packer — Shares of Pacar rose 7% after the truck maker reported fourth-quarter results that posted a profit of $2.64 per share and $8.13 billion in revenue. The increasing number of e-commerce deliveries has fueled the demand for trucks. The company beat analyst expectations for earnings per share, according to StreetAccount.

Advanced Micro Devices – Shares fell 3.2% after Bernstein downgrade Semiconductor manufacturers perform better in the market. The firm said that the personal computer market and the aftermarket were growing rapidly unfavourably for the company.

3m Shares of the industrial conglomerate slumped more than 5% to a new 52-week low after the company said cut 2,500 manufacturing jobs Amidst lack of demand. 3M reported lower earnings excluding items of profit of $2.28 per share, compared with $2.45 per share a year earlier.

synchronous financial — Shares of the financial company rose 4% on Tuesday, erasing post-earnings losses for the stock in the previous trading session. A JMP analyst reiterated a market outperform rating for Synchrony on Tuesday, saying in a note that the company appears more resilient than its peers in the consumer lending space.

union pacific — Shares of the railroad stock declined 2.4% after posting fourth-quarter earnings that fell short of analyst expectations on both the top and bottom lines, according to StreetAccount. Union Pacific reported earnings of $2.67 per share on $6.18 billion in revenue.

Lululemon – Lululemon shares fall 1.5% after Bernstein downgrade The apparel company underperformed the market and lowered its price target to $290, a $50 cut. The firm cited slower earnings growth as demand cooled and consumers became more cautious.

Raytheon Technologies Shares of the aerospace company gained 2% after Raytheon posted its fourth quarter. Raytheon posted adjusted earnings per share of $1.27, compared with analysts’ estimates of $1.24 per share, according to Refinitiv. The company posted $18.09 billion in revenue, which fell short of Street expectations of $18.15 billion.

zions bancorp — Shares of the bank declined 2% even after Zion posted fourth-quarter earnings per share that beat analyst expectations. The company reported earnings per share of $1.84, compared with the $1.64 expected by analysts polled by Refinitiv. in a statementZions CEO Harris Simmons said the company “continues to build our loss reserves due to both continued loan growth and the potential for a slower or recessionary economic environment in the coming months.”

, of cnbc Alex Haring, Jesse Pound, Yoon Lee, Carmen Reinicke, Michelle Fox Theobald, Samantha Subin and Darla Mercado contributed reporting.

Leave a Comment