Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Qualcomm (QCOM) shares are down after the chipmaker’s revenue forecast was weaker than expected. The company said its “near-term handsets outlook is impacted by industry-wide memory supply constraints.” Bank of America and Susquehanna downgraded the stock.
- Shares of Peloton Interactive (PTON) fell after the company provided a weaker-than-expected revenue forecast for the fiscal third quarter, disappointing investors who hoped a recent hardware revamp would spur a long-promised turnaround. It also said its chief financial officer, Liz Coddington, will be leaving the company to pursue another opportunity. Coddington will stay through March and Peloton has begun a search for her successor.
- Estée Lauder (EL) shares tumbled after its outlook boost failed to reassure investors about the pace of the cosmetics conglomerate’s turnaround. The owner of the Jo Malone and Le Labo brands expects adjusted earnings per share in the range of $2.05 to $2.25 this fiscal year, according to a statement Thursday. In October, Estée Lauder guided for that figure to be between $1.90 to $2.10.
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