Premarket Movers: Dollar General Still Surging Higher on Earnings

"All as it continues to gap higher on strong earnings and a dividend. Not only did the company just declare a 59-cent dividend (payable on January 20 to shareholders of record as of January 6), it also just earned a profit of $1.28, up 44% year over year, and 35 cents better than expected. Sales of $10.65 billion, up 4.6% year over year, beat estimates by $50 million."

"For fiscal year 2025, DG expects to see net sales increase by 4.7% to 4.9%, which is up from an earlier range of 4.3% to 4.8%. That translates into sales of $42.52 billion to $42.6 billion, which is above estimates of $42.49 billion. Same store sales growth is now seen jumping 2.5% to 2.7%, which is up from 2.1% to 2.6%. Fueling upside, analysts at JPMorgan just upgraded the DG stock to an overweight rating with a price target of $66. The firm is bullish on store remodels, stocking, and chain improvements."

"Shares of Tesla ( NASDAQ: TSLA) are up about $5 a share in premarket. That's after tacking on $12.09 a share on Friday. According to analysts at Barclays, vehicle deliveries are losing importance, as noted by Teslarati.com. "Even CEO Elon Musk has implied at times that the automotive side, as a whole, will only make up a small percentage of Tesla's total valuation, as Optimus and AI begin to shine with importance," they added. In fact, according to a Musk note on X.com, "Almost all of Tesla's value long-term will be from AI & robots, both vehicle & humanoid..." Barclays has an equal weight holding on TSLA with a price target of $350 a share."

Dollar General reported earnings per share of $1.28, a 44% year-over-year increase and $0.35 above expectations, with sales of $10.65 billion beating estimates by $50 million. The company declared a 59-cent dividend payable January 20 to shareholders of record January 6. Fiscal 2025 net sales are projected to rise 4.7%–4.9% to about $42.52–$42.6 billion, with same-store sales growth of 2.5%–2.7%. JPMorgan upgraded DG to overweight with a $66 target. Tesla shares rose amid analyst commentary that AI and robots could drive long-term value, and Broadcom fell on margin warnings but showed early premarket recovery.

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