Yahoo Finance Companies to Watch: Dell beats estimates, Big Lots gives cautious tone, Tesla gets major exemption
Here are the companies the Yahoo Finance team is watching for you today.
It looks like a lot of corporate execs are getting a Dell (DELL). The tech company trounced earnings estimates by $0.68 thanks to strong corporate demand for computers and software. This company also continues to manage costs. However, data center sales were a weak point, down 6% due to slow sales of server and networking gear.
A decent quarter at Big Lots (BIG). The discounter beat on earnings by an impressive $0.12 per share. Big Lots also reiterated its full year profit outlook despite the CEO cautioning over the impact of tariffs. Big Lots same-store sales only rose 1.2% in the quarter and missed forecasts.
Tesla (TSLA) seems to be getting a reprieve from the trade tensions between the U.S. and China. Chinese officials now say 16 Tesla models will be exempt from auto tariffs. The electric car maker had already started raising prices for its Model 3 and other vehicles in China due to the weaker yuan. Tesla imports all of the cars it sells there.
Disney's (DIS) plan to open its billion-dollar Star Wars: Galaxy's Edge attraction over Labor Day to draw in bigger crowds may be derailed. A state of emergency has been declared as Hurricane Dorian barrels towards Florida, squashing park-goers’ plans to get a look at the newest addition to Walt Disney World. With theme park attendance down, Galaxy's Edge success is more important than ever.
Groupon (GRPN) is being called on to make some big moves. Activist investors are pushing for Groupon to conduct stock buy-backs or to sell itself to another company, according to the Wall Street Journal. The company went public in 2011, and held the largest IPO since Alphabet went public in 2004. This news isn't a shocker: Groupon's stock has crashed 88% since its 2011 IPO price. The current CEO has been there since 2015.
