Stocks to Watch: Levi Strauss, Caesars Entertainment, Tesla

By Connor Hart

Levi Strauss cut its revenue outlook for the year and is once again exploring a sale of its Dockers brand. The company now expects fiscal 2024 revenue to rise about 1%, down from a prior outlook for growth of 1% to 3%. The decision to evaluate strategic alternatives for the casual fashion brand of Dockers, highly dependent on department stores such as Macy's, comes as the company looks to address the areas where it has underperformed. Shares fall 9.8%, to $18.99, in after-hours trading.

Caesars Entertainment announced the offering of a $1.1 billion aggregate principal amount of senior notes that pay a 6% interest rate and are due in 2032. This offering comes after the casino-entertainment company's board during the regular session authorized a new buyback program to purchase up to $500 million of its common stock. Shares edge 0.3% lower, to $42.80, in postmarket trading, after ending the day up 5.3%, to $42.95.

Tesla said it delivered a total of 462,890 vehicles during 3Q, reversing earlier declines this year that had stoked concerns about the company's ability to grow its car business. Still, this figure was slightly below Wall Street expectations, and Wedbush analysts said "more heavy lifting is clearly ahead for Musk & Co. to turn around this delivery growth story." Shares continue to fall, edging 0.4% lower in after-hours trading, after ending the regular session down 3.5% to $249.02.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

October 02, 2024 20:02 ET (00:02 GMT)

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