+16.48% to $242.94 from $208.56
What moved VRT
- Vertiv’s CEO said the ‘largest infrastructure buildout’ in the industry’s history is accelerating as the company’s third-quarter earnings beat estimates.
- The company raised its full-year outlook, now guiding to net sales of roughly $14.65 billion and adjusted diluted earnings of $7.15 per share.
- Shares rose roughly 14%-16% following the report.
Sources: Yahoo Finance · MarketScreener · Investing.com
-3.63% to $214.75 from $222.83
What moved VRT
- Shares fell about 6.7% in morning trading to roughly $208 after Mizuho cut its price target to $280 from $300, citing model adjustments across the electrical equipment sector ahead of earnings season; both it and RBC kept Outperform ratings.
- RBC Capital had already lowered its target to $323 from $337 a day earlier, extending a slide that saw the stock fall about 6.2% on Wednesday.
- Put option volume surged to roughly seven times normal levels, concentrated in October-expiry $195 puts, while a director’s share sale under a pre-arranged trading plan added further selling pressure.
Sources: Investing.com · Defense World · Quiver Quantitative