Walmart (WMT) was up slightly on heavy volume Thursday after the big-box retailer unveiled its plans for the holiday season. The company will make tens of thousands more items from its online inventory available for same-day pickup.
Walmart has made a concerted effort in recent months to steal online market share back from Growth Seeker holding Amazon (AMZN) by purchasing Jet.com for $3 billion and revamping its website. The company also said it will focus on making in-store checkouts faster.
Shares of PCM (PCMI) spiked Thursday afternoon following the release of the tech company's third-quarter results after the closing bell on Wednesday. The El Segundo, Calif.-based company reported third-quarter net income of $5.3 million, or $0.52 per share, on revenue of $584.9 million. For the current quarter, the company expects to earn between $0.40 and $0.48 per share on revenue between $565 million and $580 million. Shares were up nearly 30% in afternoon trading.
ServiceNow (NOW) shares were up more than 10% after several analysts increased the company's price target following its latest quarterly earnings beat. The price target of the provider of software for information technology service management was raised to $100 from $80 by analysts at Pacific Crest and to $100 from $90 by analysts at Piper Jaffray. Meanwhile, BMO Capital raised its price target to $97 from $85 and Citigroup raised its price target to $95 from $87.
Shares of Lending Tree (TREE) were down nearly 15% following its latest quarterly earnings miss. The Charlotte, N.C.-based company reported a profit of $0.80 per share on revenue of $94.6 million. Analysts on average were expecting the company to report earnings of $0.82 per share on revenue of $96.4 million. Non-mortgage products from the company did see a 60% year-over-year rise in revenue to $41 million during the period, while mortgage products revenue grew 21% year over year to $53.5 million.