Smaller Players Jumped while Some Big Techs Fell

KHC Stock
KHC Stock

D.R. Horton Inc (DHI) was up 9.1 percent on Tuesday. The U.S. real estate developer involved in residential development said it now expects revenues in fiscal 2021 to be above consensus. As demand was driven by low rates, it also posted better-than-expected quarterly earnings. The company posted quarterly earnings of $2.24 per share, while analysts were in estimates of $1.76 per share for the same.

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Lowe’s Companies, Inc. (LOW), the number two U.S. furniture retailer gained 1.4 percent on Tuesday. Responding to a report in Bloomberg that it had approached HD Supply Holdings Inc (HDS) for preliminary talks regarding an acquisition, Lowe’s has emphatically denied the claims. Stock of HD Supply was also up 0.98 percent on the day.

Microsoft Corporation (MSFT) was down -3.3%. The Redmond’s IT giant on Tuesday launched a new version of its popular Xbox, seven years after the release of the previous console generation, and just before the release of Sony’s PlayStation 5.

Alphabet Inc (GOOG) lost -1.3 percent on Tuesday. The company inked a collaboration agreement with the Frenchman OVH. To complete its bid, the tricolor host would be able to use one of the American cloud technologies.

Nikola Corporation (NKLA) dipped -3.2% also the electric truck maker, said its planned partnership with General Motors had not been abandoned and that talks were underway. The market is not optimistic and the stock weakens. A strategic alliance announced in September is being negotiated by the two firms, which would give GM an 11 percent stake in Nikola in return for supplying its battery and hydrogen-fuel cell technology and producing Nikola’s debut pickup truck.

The Kraft Heinz Company (KHC) was down -0.46 percent. Over 29 million Kraft Heinz shares have been placed up for sale by 3G Capital, the second largest shareholder in the U.S. food company, which could weigh on prices today.


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