Chipotle Mexican Grill announced a stock split. Intel is expected to receive a large grant and a loan package from the U.S. government. Signet Jewelers estimated a weak outlook for the current year. 

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Super Micro Computer plans a secondary offering to sell as many as 2 million shares. Unilever announced its plans to spin off its ice cream business. Nvidia announced its next-generation chip for graphic AI processing. 

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Nvidia was in focus ahead of the company's annual developer conference for the release of new products to process artificial intelligence applications.

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Adobe's current quarter outlook fell short of market expectations. Ulta Beauty reported lower-than-expected sales outlook in the current fiscal year.

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Dick's Sporting Goods reported stronger-than-expected sales in the holiday quarter. Robinhood Markets said assets under custody rose in February from the previous month. Dollar General issued a stronger-than-expected annual earnings outlook.

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3M lifted its annual earnings per outlook and announced the appointment of a new chief executive. Dollar Tree reported weaker-than-expected quarterly results. Coinbase announced a plan to raise as much as $1 billion.

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Oracle reported total revenue rose 7% in the fiscal third quarter, driven by a 25% increase in cloud software and a 49% surge in cloud infrastructure revenue. Southwest said it plans to reevaluate its 2024 financial projects in light of persistent aircraft delivery delays from its sole supplier, Boeing. 

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The specialty apparel retailer Gap reported better-than-expected holiday quarter sales and earnings. The advanced chipmaker Broadcom estimated sales in the current quarter that met analysts' expectations.

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American Eagle said earnings dropped because of a goodwill impairment charge related to its purchase of several logistics firms during the pandemic years. Victoria's Secret issued a cautious outlook. New York Community Bancorp raised $1 billion to shore up its regulatory capital.

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Abercrombie & Fitch reported better-than-estimated holiday-quarter results and estimated strong sales growth in the current quarter. Foot Locker missed earnings expectations as the retailer continues with its restructuring under new leadership.

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U.S. Movers: AMD, Apple, GitLab, Target

Mar 5, 2024
Scott Peters
Target estimated continued sales weakness in the current year but estimated improving operating margins. Apple's iPhone sales were estimated to fall sharply in China in 2024. GitLab's current-year sales outlook fell short of some investors' expectations.

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The European Commission fined Apple two billion dollars for failing to inform users about alternative ways of subscribing to music services.  Cryptocurrency stocks advanced after Bitcoin neared a record high.

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Duolingo reported better-than-expected quarterly results and guided strong sales growth in the current fiscal year. Birkenstock said quarterly losses narrowed. Salesforce reported better-than-expected quarterly results.

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Disney agreed to merge its India operations with the media properties controlled by Reliance Industries. First Solar reported a sharp increase in its quarterly earnings.

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Lowe's Companies reported better-than-expected quarterly results despite customers taking on fewer new home renovation projects. Expedia said it plans to trim its workforce. Norwegian Cruise Line estimated a strong demand outlook for 2024.

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