Reuters Insider - U.S. Day Ahead: Costco reports after posting strong sales in November

COSCO Shipping International (SINGAPORE)

12/12/2018 21:02

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Source: Reuters Insider

Description: Warehouse club operator Costco posts quarterly numbers after the
market close. The chain had another solid month in November leading into the
report. Also, Adobe reports.
Short Link: https://reut.rs/2Eioe4w

Video Transcript:

Ahead, an update on business at Costco, but first, Delta Airlines meets with
investors in New York. Last week it said a key revenue figure in the fourth
quarter would come in at the low end of its forecast. This is despite the
recent decline in fuel prices. However, Delta did say earnings should hit the
top end of its forecast and it is on track to expand margins. Shares are flat
this year. Next, Adobe reports after the market closes. Broker Jefferies put
out a note this week saying it's looking for a strong quarter. It says Adobe's
creative cloud which includes Photoshop and premier editing software among
other products continues to be the star division which it sees continuing. The
stock has jumped about 40% in 2018. Jefferies has a 'buy' rating and a $315
price target. And Costco also reports after the closing bell. Last week the
warehouse club operator said total sales in November rose about 10% while
comparable store sales increased about 9%. Broker Cowen says the month was
better than expected and the chain also posted impressive traffic growth. The
stock has gained more than 20% so far this year. I'm Caroline Woods and this
is Reuters