Check out the companies making headlines before the market opens. Target — The Minneapolis-based retailer missed third-quarter earnings and revenue estimates and slashed full-year guidance just three months after raising its forecasts, sending its shares tumbling more than 17% . Target said customer traffic was up only slightly, and its chief executive noted “continued weakness in the discretionary category.” Comcast – NBCUniversal shares rose more than 2% after the owner said it would spin off its cable assets, including CNBC and MSNBC, into a separate public company. Comcast, led by Brian Roberts, said the spinoff is expected to take about a year. Goldman Sachs and Morgan Stanley advised the parent company. Delta Air Lines – Shares of Delta Air Lines fell more than 1% after the Arteta-based airline reiterated its fourth-quarter outlook. Delta Air Lines expects mid-single-digit sales growth next year, in line with analysts’ expectations. NIO — U.S. shares fell more than 2% after the Chinese electric car maker reported lower-than-expected third-quarter revenue. NIO’s sales during the period totaled 18.67 billion yuan, a decrease of 2.1% from the same period last year. Analysts polled by FactSet estimated it at $19.13 billion. Dolby Laboratories – Shares of Dolby Laboratories soared nearly 15% after the audio technology company’s quarterly results topped Wall Street expectations. According to FactSet, Dolby earned 61 cents per share in the fourth quarter, above analysts’ expectations of 45 cents per share. Dolby also increased its quarterly dividend by 10% to 33 cents per share, payable on December 10. Needham upgraded the stock to buy from hold on Wednesday. The financial services platform said it would acquire TradePMR for about $300 million to strengthen its advisory capabilities. Keysight Technologies — The electronic test and measurement equipment maker reported better-than-expected fourth-quarter results, sending its shares up more than 9%. Keysight also gave an upbeat forecast for the current quarter, predicting adjusted earnings per share between $1.65 and $1.71, compared with analysts’ consensus estimate of $1.57, according to FactSet. AppLovin – Shares rose 2.3% after Piper Sandler initiated coverage on the mobile app developer with an overweight rating, with a price target suggesting more room to rise – even as the stock surges 700% in 2024 above. Fourth-quarter revenue fell short of analysts’ expectations, while earnings per share came in above forecasts, according to FactSet. Super Micro Computer – Shares of Super Micro Computer fell more than 2% after soaring more than 31% on Tuesday. The server maker announced it hired BDO as a new auditor and submitted a plan to the Nasdaq stock market outlining how it will comply with listing requirements. Netflix – Netflix said last week’s boxing match between former heavyweight champion Mike Tyson and Jake Paul drew 108 million global viewers, making it the most-watched global sporting event of all time, sending shares up nearly 1%. —CNBC’s Alex Harring, Jesse Pound, Pia Singh and Sarah Min contributed reporting. Revealed: Comcast owns NBCUniversal, the parent company of CNBC.
