Movers: Carnival Corp, Goldman Sachs, Hasbro, Lockheed, Microsoft, Salesforce, XPO Logistics

Scott Peters
18 Oct, 2022
New York City

Goldman Sachs Group Inc increased 3.2% to $316.38 after the financial services provider reported lower but better-than-expected earnings supported by bond trading activities. 

Salesforce Inc jumped 5.2% to $154.52 after activist investor Starboard took a position in the company. 

Colgate Palmolive Company increased 0.8% to $72.71 after activist investor Dan Loeb controlled Third Point acquired a stake in the company. 

The activist investor investments were reported by CNBC without citing sources.   

Microsoft Corporation increased 0.7% to $239.01 and erased morning gains of 2.7% after the company confirmed it cut about 1,000 jobs as revenue growth slows. The news was first reported by Axios and independently verified by ticker.com.

Semiconductor stocks also declined on the worries that the current slowdown in personal computing devices may last longer than anticipated. 

Intel Corporation declined 2.1% to $25.90, Advanced Micro Devices, Inc inched up 0.1% to $58.03, Nvidia edged up 1% to $120.02 and Taiwan Semiconductor dropped 1.7% to $63.74. 

Home builders were in focus after the industry sentiment extended its recent plunge to a 12-year low, excluding a brief period during the start of the coronavirus pandemic in March 2020. 

The National Association of Home Builders/Wells Fargo Housing Market Index declined 8 points to 38 in October from the previous month. 

Any reading below 50 indicates negative sentiment.

Despite the weak reading on the sentiment, home builder stocks advanced.    

Lennar Corp added 3.2% to $76.86, PulteGroup Inc jumped 3.1% to $39.48 and Toll Brothers increased 1.9% to $42.86. 

Carnival Corp jumped 11.5% to $8.11 after the cruise company's subsidiary launched an offering of $1.25 billion senior priority notes due in 2028. 

The notes will be backed by 12 unencumbered vessels with an aggregate net book value of approximately $8.2 billion and proceeds will be used to repay principal on 1.875% senior notes due in 2022. 

XPO Logistics declined 2.1% to $47.48 after the freight transportation company issued an earnings alert ahead of its scheduled earnings report on October 31. 

The company said third quarter revenue is estimated at $3.04 billion and operating earnings between $181 million and $185 million. 

North American less-than-truckload segment revenue per hundredweight, excluding fuel, is expected to increase 7% in the third quarter.  

Lockheed Martin Corporation soared 8.7% to $431.93 after the defense contractor reported third quarter net sales increased $16.6 billion from $16.0 billion a year ago. 

Net income jumped to $1.8 billion or $6.71 per share compared to $614 million or $2.21 a year ago. 

Hasbro, Inc declined 1.8% to $66.47 after the toy maker reported third quarter revenue declined 15% to $1.6 billion from a year ago. 

"As expected, the third quarter is our most difficult comparison and was further impacted by increasing price sensitivity for the average consumer," said  Chris Cocks, Hasbro chief executive officer. 

Net income in the quarter plunged 49% to $129.2 million from $252.2 million a year ago and diluted earnings per share dropped to 93 cents from $1.83.