Courtesy of Benzinga.
U.S. stocks closed higher on Tuesday trading, as consumer and technology stocks edged up after Monday’s presidential debate.
After the market closed, shares of Alphabet Inc (NASDAQ: GOOGL) (NASDAQ: GOOG) lost about 1 percent, following a demotion at Wedbush downgrade. Analysts trimmed their price target from $800 to $700, citing concerns about the prompt arrival of “self-identified consumers, consumer control of IP-delivered ads, payments innovation, and attention markets.”
Nike Inc (NYSE: NKE), tumbled more than 4.25 percent after reporting its Q1 results. While EPS of $0.73 and sales of $9.06 billion beat estimates by $0.17 and $190 million, respectively, futures orders, up 7 percent on a currency-neutral basis, missed the Street’s expectations for 8.3 percent.
Cintas Corporation (NASDAQ: CTAS) gained more than 4 percent since the bell rang, driven by a Q1 top and bottom line beat. EPS of $1.26 beat the Street’s consensus by $0.18, while revenue of $1.29 billion came in $10 million ahead of expectations. Full year guidance was also encouraging: management said it expects EPS from continuing operations of $4.55-$4.63, above the Street’s estimate of $4.42.
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