There are at least five companies’ shares that are worth monitoring on Thursday. They are: General Motors Company (NYSE:GM), Apple Inc. (NASDAQ:AAPL), Alibaba Group Holding Ltd (NYSE:BABA), Childrends Place Inc (NASDAQ:PLCE) and Cato Corp (NYSE:CATO).
- General Motors Company (NYSE:GM) will stop selling vehicles in India. The move is part of the company’s proposal to retreat from unprofitable markets. However, the company will continue to manufacture its vehicles in India and export them. This was due to its investments on future technology as the country offers cheap labor. The automaker is also planning to focus more on China and Brazil besides getting prepared to face challenges from technology companies on autonomous and electric vehicles.
- Apple Inc. (NASDAQ:AAPL) has started to assembly its low-priced iPhones SE in India through its contract manufacturer in Bengaluru, a Southern City of India. As the company is struggling in China, the tech bellwether is hoping to offset the weakness by focusing on India where the smartphone is growing at a rapid pace. The tech bellwether is manufacturing from Wistron Corp, a Taiwan partner for Apple.
- Alibaba Group Holding Ltd (NYSE:BABA) delivered an EPS of 63 cents for the fourth quarter missing expectations of 65 cents a share. However, its revenue of $5.61 billion, which jumped 59.8 percent from the previous year period, came in above estimates of $5.23 billion. The company announced a fresh $6 billion share buyback program. Following the results announcement, the stock is trading down 0.87 percent in pre-market on Thursday.
- Childrends Place Inc (NASDAQ:PLCE) shares are surging in pre-market on Thursday after the company delivered stronger than expected results. The company’s EPS of $1.95 is ahead of the Street expectations of $1.64. Similarly, its revenue of $436.68 million, which advanced 4.1 percent from the previous year period, exceeded the Street estimates of $422.47 million. Going forward, the company lifted its adjusted EPS forecast to $7.10 – $7.20 from $6.50 – $6.65 for the full year. This is well ahead of the Street predictions of $6.66 a share.
- Cato Corp (NYSE:CATO) reported an EPS of 85 cents on revenue of $239.74, which was down 16.7 percent from the year-ago period. Following the results announcement, the stock is trading down 0.42 percent in pre-market on Thursday.