Benzinga's Brief On Trending Tickers: Costco, Gap, Big Lots And More

Benzinga’s “Daily Brief On Trending Tickers” highlights top-searched tickers from around the web and uses the Benzinga Pro platform to highlight recent news items possibly impacting those stocks.
The data on the trending tickers is compiled from a list of most-discussed tickers on the popular Reddit forum WallStreetBets.

Costco Wholesale Corporation COST shares fell in after-hours trading on Thursday and continued into Friday morning after the company reported fiscal third-quarter revenue of $52.6 billion, which beat the estimate of $51.76 billion. The retailer reported quarterly earnings of $3.04 per share, beating the Street estimate of $3.03 per share.

Baird analyst Peter Benedict maintains Costco with an Outperform and lowered the price target from $600 to $560.

Marvell Technology Inc MRVL shares popped 5% higher on Friday morning after Marvell said fiscal first-quarter revenue increased 74% year-over-year to $1.45 billion, which beat the estimate of $1.43 billion. The company said strong revenues were driven by higher-than-forecasted results from the data center end market.

Morgan Stanley analyst Joseph Moore maintains Marvell with an Equal-Weight and lowers the price target from $80 to $68.
Big Lots, Inc. BIG shares fell after the company reported a first-quarter revenue decline of 15.4% year-over-year to $1.37 billion, missing the consensus of $1.46 billion.

Pinduoduo Inc - ADR PDD shares gained near 9% after the company reported first-quarter revenue growth of 7% year-on-year to $3.75 billion, beating the consensus of $3.05 billion.

JP Morgan analyst Andre Chang upgraded Pinduoduo with a Strong Buy rating without giving price targets.

Gap Inc GPS shares gapped down 15% after the company reported weaker-than-expected earnings for its first quarter and lowered its annual profit guidance.

Deutsche Bank analyst Gabriella Carbone maintained Gap with a Buy and lowered the price target from $17 to $12.