Dropbox, Inc. (DBX) decreased by -6.31% on Wednesday to close the session at $22.12. As well as an 11 percent reduction in its workforce, comprising 315 jobs, Dropbox announced the resignation of its Director of Operations. On February 5, Olivia Nottebohm, the group’s COO, who entered Dropbox only last year from Google, will leave her post. No information on the replacement has yet been given.
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Target Corporation (TGT) saw its shares decline by -1.15% to $196.82 in the Wednesday trading. For the November-December period, the U.S. discount store posted a more than 17 percent growth in like-for-like sales, with a dramatic rise in online revenues again. Traffic rose by 4.3 percent over the span and the average ‘ticket’ (basket) by 12.4 percent. Development at the same store was 4.2%. Like-for-like digital revenues more than doubled year on year.
Alibaba Group Holding Limited (BABA) rose by +4.3% to $235.3. After being bullied on the stock exchange in recent days, Alibaba is regaining some color. Jack Ma, the founder of the Chinese e-commerce giant, said the chairman of Primavera, a shareholder in Ant Group, will be healthy. The absence of Ma has been of great concern for weeks, as since his critique of Beijing last October, the billionaire has not been seen in public.
KB Home (KBH) went up by +2.52% to $35.01 on the day. The U.S. real estate developer posted above market consensus quarterly revenues. For the three months finished, the company posted sales of $1.19 billion, for $1.12 adjusted earnings per share. Consensus on revenue was $1.15 billion and earnings per share were 93 cents.
Johnson & Johnson (JNJ) was a bit down to $157.89, slipping -0.15% at the ring of the bell on Wednesday. The U.S. pharmacy and medical giant is facing delays in its coronavirus vaccine processing. As a consequence, the New York Times recognizes, it will not be able to supply Washington-ordered doses by spring. JNJ is expected to apply to the EU next month a proposal for authorization from the vaccine applicant.
