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Look for companies making headlines in the stock market. Thor Industries – Shares fell 2% after the RV maker issued disappointing revenue guidance for the fiscal year. The company expects earnings per share to be between $4 and $5, below the StreetAccount estimate of $6.27 per share. Arlo Technologies – The security systems company is off 3% after approving a $50 million share repurchase plan. Coming off a strong year, shares are up nearly 24.5% in 2024. Visa – Shares fell 2% following a Bloomberg report that the Justice Department plans to file a separate lawsuit against the payment carrier over its payment card business. Citi said it has changed its focus on Mastercard because of this “increased regulation.” Starbucks – The coffee house chain fell 1.6% after Jefferies downgraded the stock to underperform to hold and cut its price target. The company has expressed low visibility in the US and China in the near term and expects a downgrade in the near to medium term. Salesforce – The software stock rose 2% after Piper Sandler upgraded Salesforce to overweight and raised its price target, citing a positive risk reward given the possibility of the company’s free cash flow per share doubling by fiscal 2029. Artificial intelligence can also enhance Salesforce product development, the company said. Lowe’s — The home improvement stock added 1.2% following an improvement to its best performance since the performance at Oppenheimer. The company said demand should improve as the Federal Reserve cuts rates and recognizes long-term priorities. BioNTech — US-listed shares of the German biotechnology company rose 2.7% on the heels of Morgan Stanley’s upgrade to overweight from equal weight. The company said BioNTech had undertaken what it described as an extensive clinical development program. Pinterest – The photo-sharing company rose more than 1% after Oppenheimer initiated the stock’s outperform rating. The investment firm said Pinterest’s strong advertising business and integration with major e-commerce platforms should drive growth. GE Vernova – Shares gained nearly 1% after Guggenheim started covering GE Vernova with a buy rating, saying it is “in the early stages of a multi-year earnings development.” Analyst Joseph Osha’s $300 price target implies an increase of about 19% from Monday’s closing price for the stock. — CNBC’s Sarah Min, Michelle Fox, Pia Singh, Sean Conlon, Jesse Pound and Fred Imbert contributed reporting
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