Here’s a look at some of the stocks the Yahoo Finance team will be tracking for you today.
MGM (MGM) reported earnings that were in line with estimates, but revenue beat. The casino operator’s CEO says the Las Vegas shooting that happened last month from one of its hotels impacted short term bookings. However, bookings have largely rebounded to normal levels. This is MGM’s first profit report since the tragedy where 58 people were killed.
LendingClub (LC) is tanking in early trading. The peer-to-peer lender is forecasting lower sales for its current quarter after third-quarter revenue missed expectations. In a call with investors,
LendingClub’s CEO said the company plans to tighten credit and put new lending models in place in the coming quarter to improve sales.
Take Two Interactive (TTWO) posted better-than-expected quarterly revenue and also raised its sales guidance for the holiday quarter and the full year. The video game publisher is enjoying strong demand for its new NBA game and the continued success of Grand Theft Auto. Rivals Activision Blizzard (ATVI) and Electronic Arts (EA) recently offered a disappointing holiday sales outlook.
A dozen Target (TGT) stores are missing their mark. The retailer is closing 12 stores across the nation next year citing underperformance. Meanwhile, this comes as Target expands its portfolio of smaller-format stores. The company’s CEO says these smaller stores are more profitable than its big box stores.
And finally, Sears (SHLD) is releasing about 140 Sears properties from a ring-fence arrangement in order to pay $407 million into its pension plan. A ring-fence arrangement puts aside certain assets for different benefits including lower taxes. The retailer also reported a sales miss for the third quarter, but said it expects to see a much smaller loss.
