Harley-Davidson Inc (NYSE:HOG) (CNBC)
Harley-Davidson on Tuesday forecast that motorcycle shipments would drop this year and reported that they barely met the bottom of its 2017 target, sending its shares down sharply in premarket trading. Shipments in 2017 were the lowest in six years. Worldwide retail motorcycle sales were down 6.7 percent last year from a year ago. In the United States, its biggest market, sales dropped 8.5 percent year on year. The figures underscored Harley’s challenges as its core customer base gets older and younger customers, more sensitive to pricing, remain lukewarm to its brand.
Callidus Software Inc. (NASDAQ:CALD) (Madison.com)
What happened: Shares of Callidus Software Inc. (NASDAQ: CALD) were surging higher today after SAP SE (NYSE: SAP) said it would acquire the cloud-computing company for $36 a share or a 21% premium over Callidus’ 30-day weighted average share price. As of 10:48 a.m. EST, the stock was up 10.2%, trading at $36.05. So what: Callidus’ board unanimously approved the deal valued at $2.4 billion. SAP, the German enterprise software provider, sees an opportunity to strengthen its position in the American cloud software market.
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Parsley Energy Inc (NYSE:PE) (The Motley Fool)
What happened: Shares of Parsley Energy (NYSE:PE) dropped on Tuesday and were down nearly 13% at 10:45 a.m. EST. Fueling the sell-off was the Permian Basin producer’s operational update for the fourth quarter and its plans for 2018, neither of which analysts liked. So what: Parsley Energy said that it produced between 80,000 to 81,000 barrels of oil equivalent per day (BOE/D) during the fourth quarter, which pushed its full-year average to 68,000 BOE/D. That was at the top of the company’s guidance range, and up a remarkable 78% from 2016.
Thomson Reuters Corp (NYSE:TRI) (Benzinga)
Thomson Reuters Corp surged 10.4 percent to $47.96 after the company confirmed advanced discussions with Blackstone regarding potential partnership in Financial & Risk business.
Extreme Networks, Inc (NASDAQ:EXTR) (The Motley Fool)
What happened: Shares of networking-hardware maker Extreme Networks (NASDAQ:EXTR) rose as much as 11.5% in Tuesday morning trading. The stock is joining the S&P SmallCap 600 market index before the opening bell on Thursday, replacing Time Inc. (NYSE:TIME), as the magazine and website publisher is being acquired by larger peer Meredith (NYSE:MDP).
GrubHub Inc (NYSE:GRUB) (MarketWatch)
Shares of GrubHub Inc. GRUB, -4.25% fell 3.8% in Tuesday morning trading after analysts at Barclays downgraded the stock to underweight from equal weight. The analysts, led by Deepak Mathivanan, like GrubHub’s prospects in the long run but worry about the stock’s high valuation relative to internet peers and the “incremental competitive risks” brought upon by Uber Technologies Inc.’s and Amazon.com Inc.’s AMZN, +0.66% efforts in food delivery. GrubHub shares have performed better than the S&P 500 Index SPX, -0.95% over the past three months, Mathivanan wrote.
Rambus Inc. (NASDAQ:RMBS) (Benzinga)
Rambus Inc. shares slipped 5.3 percent to $13.45 after reporting weak first-quarter guidance despite delivering a fourth-quarter sales beat. EPS fell in-line with analyst estimates at 19 cents. The company sees a first-quarter adjusted EPS loss between 12 and 19 cents, with sales in the $41 million-$47 million range.
CVS Health Corp (NYSE:CVS) (TheStreet)
The combined forces of Amazon.com Inc. (AMZN) , JPMorgan Chase & Co. (JPM) and Berkshire Hathaway Inc. (BRK.A) to form a technology-driven healthcare solution were enough to make waves on the stock market Tuesday, Jan. 30. But Wall Street may be overreacting, sources told TheStreet following the news, as CVS Health Corp. (CVS) shares have dropped as much as 6%. If anything, insurance companies and pharmacy benefit management (PBM) organizations like Humana Inc. (HUM) , Express Scripts Holding Co. (ESRX) and Cigna Corp. (CI) have more to worry about, according to Oppenheimer analyst Mohan Naidu, because of the proposed partnership’s not-for-profit model.
