Diamond Member Pelican Press 0 Posted August 16, 2024 Diamond Member Share Posted August 16, 2024 This is the hidden content, please Sign In or Sign Up Stocks to Watch Today: Ulta Beauty, Walmart, and Cisco In a day of significant market movements, three major companies have captured investors’ attention with notable developments and stock price shifts. Ulta Beauty (NASDAQ:) saw a surge following news of Warren Buffett’s investment, Walmart (NYSE:NYSE:) impressed with , and Cisco (NASDAQ:) announced restructuring plans alongside better-than-expected results. Ulta Beauty Shares Soar on Warren Buffett Backing Ulta Beauty (ULTA) shares soared by 11.28% to $366.16 after Warren Buffett’s Berkshire Hathaway (NYSE:) revealed a new stake in the company. The investment, valued at $266.3 million as of the end of the second quarter, represents a vote of confidence from one of the world’s most renowned investors. Despite the recent uptick, Ulta’s stock still shows negative returns year-to-date (-25.27%) and over the past year (-20.15%). With a market capitalization of $17.472 billion and a price-to-earnings ratio of 12.84, analysts maintain an average price target of $464.77 for the beauty retailer. Walmart Climbs After Excellent Q2 Results Walmart (WMT) stock climbed 6.63% to $73.21 following its impressive second-quarter earnings report. The retail giant beat expectations with adjusted earnings per share of $0.67 against an expected $0.64, and revenue of $169.3 billion versus the anticipated $168.52 billion. Walmart’s success was driven by strong performance across various segments, including a 21% increase in global e-commerce sales and a 26% growth in its global advertising business. The company’s market capitalization now stands at $588.988 billion, with a price-to-earnings ratio of 29.47. Walmart also raised its full-year This is the hidden content, please Sign In or Sign Up for fiscal 2025, citing continued patronage from higher-income consumers. Cisco Reports Better than Expected Earnings, Continues Restructuring Plans Cisco Systems shares jumped 6.89% to $48.57 after the company reported better-than-expected quarterly earnings and announced significant restructuring plans. The networking equipment manufacturer posted adjusted earnings of 87 cents per share, surpassing the expected 85 cents, on revenue of $13.64 billion. However, this revenue figure represents a 10% decrease from the previous year. Cisco plans to cut 7% of its global workforce, approximately 5,940 jobs, in its second major round of layoffs this year. The restructuring is expected to result in $1 billion in pretax charges as the company shifts focus towards high-growth areas such as artificial intelligence and cybersecurity. Cisco’s market capitalization reached $195.699 billion, with a price-to-earnings ratio of 17.89. *** Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our This is the hidden content, please Sign In or Sign Up prior to making financial decisions. This This is the hidden content, please Sign In or Sign Up was originally published on The Tokenist. Check out The Tokenist’s free newsletter, This is the hidden content, please Sign In or Sign Up , for weekly analysis of the biggest trends in finance and technology. This is the hidden content, please Sign In or Sign Up #Stocks #Watch #Today #Ulta #Beauty #Walmart #Cisco This is the hidden content, please Sign In or Sign Up This is the hidden content, please Sign In or Sign Up Link to comment https://hopzone.eu/forums/topic/100895-stocks-to-watch-today-ulta-beauty-walmart-and-cisco/ Share on other sites More sharing options...
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