Market movers: Stocks seeing action on Wednesday

The provider of information and tools for lawyers, accountants and other professionals reported adjusted earnings of 82 US cents per share, above analyst forecasts of 71 US cents.

On Nov. 15, the company will launch AI enhancements to its flagship product, Westlaw Precision, in the U.S. Using a chat-based interface, new features will allow legal customers to ask a question in conversational format and receive an accurate answer in seconds, drawing from Thomson Reuters content.

“We’ve seen a lot of competition in the pizza space ... and it is driving the incremental weakness at Pizza Hut,” said Sante Faustini III, director of product intelligence at M Science. Yum Brands’ operating margins expanded across all three of its top divisions in the third quarter ended Sept. 30. The U.S. solar industry expects to add a record 32 gigawatts of production capacity this year, up 53% on new capacity in 2022, as per a report by Solar Energy Industries Association and Wood Mackenzie, despite higher interest rates increasing project costs.The company reported a profit of US$268.4 million, or US $2.50 per share, for the quarter ended Sept. 30, compared to a loss of US$49.2-million, or 46 US cents per share, in the year-ago period.

Annual adjusted profit is expected to be between 60 cents and $1.40 per share, compared to the prior range of $1.20 to $1.48. Estee now expects full-year 2024 sales to decrease 2 per cent to an increase of 1 per cent, compared with the previous forecast of an increase between 5 per cent and 7 per cent.) beat Wall Street estimates for quarterly profit as strength in its drugstores and pharmacy benefit management business offset higher-than-expected medical costs at its insurance unit.

Medical utilization usually tends to be high in the fourth quarter, which may be why the company had a “cautious approach” by maintaining its 2023 adjusted earnings forecast despite the profit beat, Morningstar analyst Julie Utterback said. CVS’ pharmacy and consumer wellness segment recorded 6-per-cent revenue growth to US$28.87-billion, boosted by higher drug prices and prescription volume.

DuPont trimmed its full-year revenue forecast to US$12.17-billion from its prior expectations of between US$12.45-billion and US$12.55-billion. Chief Financial Officer Lori Koch highlighted underlying electronics demand in the final quarter of the year to be similar with the third quarter, expecting some higher sales in its semiconductor technologies.

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