Companies Such as AutoNation, Conagra Brands, and More Making Stock Moves
In the list of companies making huge moves in the stock markets, the first companies AutoNation that has experienced an over a 4% increase in its share prices. The company is now among the luckiest start performers in the stock markets. The stock prices for the company experienced a rise after the analysts at Morgan Stanley proceeded with upgrading the status of auto retailer’s stock prices. The report suggests that Morgan Stanley analysts have upgraded the status of AutoNation’s stock price from “underweight” to “equal weight”. The firm recently made changes to its management, which happened to rejuvenate the sentiments of investors into the company.
Conagra Brands is the next company on the list that has experienced a 3% rise in its share prices. The packaged food company experienced a rise in its share prices following the growing interest of Credit Suisse in the company. Credit Suisse has reportedly upgraded the stock status of the packaged food company from “underperform” to “neutral”. According to reports, Credit Suisse upgraded the stock status of Conagra Brands on Wednesday, September 29, 2021. Several other packaged food companies have also recorded over a 2% rise in their share prices. These companies include Kelogg, JM Smucker, Kraft Heinz, and Tyson Foods.
The next company in the list of companies showing a downward trend is CarMax. The data shows that the auto retailer company has experienced a 7.1% drop in its share prices in the premarket trading on Wednesday, September 29, 2021. The reason behind the company experiencing a loss in share prices is the underperformance demonstrated by the auto retailer in the recent quarter. The company revealed that the earnings estimated by the analysts were $1.54 while the company achieved $1.72 per share. Still, the company failed to meet the expectations that it had made internally.
The company revealed that it experienced a 6.2% rise in its pre-owned car sales. However, the estimations that the company set were 7.3% in terms of pre-owned car sales.
Micron Technology is the next company on the list that has experienced a 2% drop in share prices. The semiconductor manufacturing company experienced a drop after releasing its guidance for the upcoming quarter of 2022. The firm specifically shares the outlook for the first quarter of 2022. The outlook that the company shared for the particular quarter was lower than what the investors and analysts had expected. Micron Technology was not the only semiconductor manufacturing company that experienced a share price drop. Other companies such as Advanced Micro Devices, Microchip Technology, and NXP Semiconductors experienced over 1.3%, 3%, and 4% share price drops respectively.
The share prices for the semiconductor companies may continue tumbling until the production plants for the semiconductors are fully operational.