Breaking News
Dec 11, 2024
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Dave & Buster's Entertainment plunged 16.7% to $30.77 after the arcade and dining venue operator reported a loss and announced the departure of the company's chief executive.
Revenue in the third quarter decreased 3% to $453 million, driven by a 7% decline in comparable sales from a year ago.
Net loss expanded to $32.7 million from $5.2 million, and diluted earnings per share rose to 84 cents from 12 cents a year ago, respectively.
The company's chief executive, Chris Morris, has resigned, and the current chairman of the board, Kevin Sheehan, is acting as the interim chief executive until a permanent chief executive has been appointed.
During the third quarter, the company repurchased $28 million of shares, bringing its total repurchases year to date to $88 million, representing 2 million shares or 5.1% of the outstanding shares as of the end of fiscal 2023.
The company has $112 million remaining on its share repurchase authorization. -
Macy's declined 10.5% to $14.92 after the department store chain cut its full-year earnings estimate.
The company lowered its adjusted earnings per share to range between $2.25 and $2.50 from the previous estimate between $2.55 and $2.90.
However, the company revised its full-year sales to fall between $22.3 billion and $22.5 billion from the previous estimate between $22.1 billion and $22.4 billion. -
GE Vernova Inc. increased 2.7% to $336.37 after the company released its full-year outlook for 2024 and 2025.
The company estimated revenue in 2024 closer to the upper end of its range between $34 billion and $35 billion and in 2025 to range between $36 billion and $37 billion.
Free cash flow in 2024 is expected to trend closer to the range between $1.3 billion and $1.7 billion and in 2025 to range between $2.0 billion and $2.5 billion. -
Uber Technologies rose 3% to $63.03, and investors worried about the company's alliance with General Motors after the vehicle maker scrapped its plans to continue to fund the robotaxi venture Cruise.
Cruise has a multi-year contract with Uber to introduce autonomous vehicles on the Uber platform; however, after the GM's announcement, the future of that contract is in doubt. -
General Motors advanced 0.7% to $53.55 after the company canceled its plan to stop funding self-driving technology by car company Cruise.
Dec 10, 2024
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Vail Resorts jumped 4% to $198.50 after the ski resort operator reported quarterly results.
Revenue in the fiscal first quarter ending in October increased to $260.3 million from $258.6 million, net loss shrank to $172.8 million from $175.5 million, and diluted loss per share edged up to $4.61 from $4.60 a year ago.
For the fiscal year 2025, the company revised its estimate of operating earnings to range between $240 million and $316 million from $224 million to $300 million.
The company declared a cash dividend of $2.22 per share, payable on January 9 to shareholders on record on December 26. -
MongoDB declined 7.4% to $325.50 after the database developer lifted its outlook for the fourth quarter.
Total revenue in the third quarter increased 22% to $529.4 million, net loss shrank to $9.8 million from $29.3 million, and diluted loss per share eased to 13 cents from 41 cents a year ago.
The company estimated fourth quarter revenue to range between $515 million and $519 million, adjusted operating income between $55 million and $58 million, and adjusted earnings per share between 62 cents and 65 cents. -
Oracle Corp. dropped 6.5% to $178.06 after the database developer and cloud services provider reported strong revenue growth in the fiscal second quarter, but earnings fell short of expectations.
Total revenue in the quarter increased 9% to $14.1 billion, driven by a 24% surge in cloud service revenue of $5.9 billion.
Net income jumped 26% to $3.2 billion from $2.5 billion, and diluted earnings per share advanced to $1.10 from 89 cents a year ago.
The company's board of directors declared a cash dividend of 40 cents per share payable on January 23 to shareholders on record on January 9.
Dec 6, 2024
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GitLab Inc. jumped 12.7% to $74.25, and the developer software tools company reported better-than-expected adjusted earnings and announced the appointment of a new chief executive effective today.
Revenue in the fiscal third quarter ending in October soared 31% to $196 million from $149.7 million, net income swung to a profit of $29.6 million from a loss of $285.2 million, and diluted earnings per share were 18 cents compared to a loss of $1.84 a year earlier.
The company guided revenue in the fiscal fourth quarter to range between $205 million and $206 million and adjusted earnings per share between 22 cents and 23 cents.
The company named Bill Staples as new chief executive, succeeding CEO and co-founder Sid Sijbrandij, "who is stepping down from day-to-day activities to focus on his health." -
Lululemon Athletica Inc. increased 8.5% to $373.80, and the athleisure apparel retailer reported better-than-expected quarterly earnings.
Revenue in the fiscal third quarter ending in October increased 9% to $2.4 billion, net income soared to $351.9 million from $248.7 million, and diluted earnings per share advanced to $2.87 from $1.96 a year ago.
For the fourth quarter of 2024, the retailer estimated net revenue to be in the range of $3.475 billion to $3.510 billion, representing growth of 8% to 10%, or 3% to 4% excluding the 53rd week of 2024.
Diluted earnings per share are expected to be in the range of $5.56 to $5.64 for the quarter, assuming a tax rate of approximately 29.5%.
For full-year 2024, the company now expects net revenue to be in the range of $10.452 billion to $10.487 billion, representing growth of 9%, or 7% excluding the 53rd week of 2024.
Diluted earnings per share are now expected to be in the range of $14.08 to $14.16 for the year, assuming a tax rate of approximately 30%. -
Ulta Beauty Inc. surged 9.3% to $429.0 after the cosmetic retailer reported better-than-expected results in the fiscal third quarter.
Revenue increased to $2.53 billion from $2.49 billion, net income dropped to $242.2 million from $249.5 million, and diluted earnings per share rose to $5.14 from $5.07 a year earlier.
Comparable same-store sales growth slowed to 0.6% from 4.5% in the quarter a year ago.
During the third quarter of fiscal 2024, the retailer repurchased 731,458 shares of its common stock at a cost of $267 million.
During the first nine months of fiscal year 2024, the company repurchased 1.9 million shares of its common stock at a cost of $764.5 million.
As of November 2, $2.9 billion remained available under the $3 billion share repurchase program announced in October 2024.
Dec 5, 2024
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Synopsys dropped 7% to $547.0 after the advanced chip design software company's outlook for the fiscal first quarter fell short of market expectations.
Revenue in the fiscal fourth quarter ending in October rose 11% to $1.64 billion, net income decreased to $279.3 million from $346.1 million, and diluted earnings per share fell to $1.79 from $2.23 a year earlier.
For the full fiscal year 2024, net income increased to $1.44 billion from $1.23 billion, and diluted earnings per share rose to $9.25 from $7.91.
The electronic design automation company estimated fiscal 2025 first quarter revenue to range between $1.435 billion and $1.465 billion and diluted earnings per share to range between $1.81 and $1.95. -
Five Below rose 14.3% to $120.11 after the deep discount retailer reported better-than-expected revenue and adjusted earnings in the third quarter.
Net sales increased by 14.6% to $843.7 million from $736.4 million a year ago; comparable sales increased by 0.6%.
Net income plunged to $1.7 million compared to $14.6 million, and diluted earnings per share were 3 cents compared to 26 cents, and adjusted diluted earnings per share were 42 cents. -
American Eagle Outfitters dropped 14.5% to $17.57, and the apparel retailer reported weaker-than-expected quarterly results.
Total revenue in the third quarter ending on November 2 declined 1% to $1.3 billion, including a $45 million reduction in sales because of a calendar shift in the current period.
Comparable store sales in the quarter increased, following a 5% increase last year.
Net income dropped to $80.0 million from $96.7 million, and diluted earnings per share fell to 41 cents from 49 cents a year ago.
The company estimated fourth quarter total revenue to fall 4%, including an adverse effect of $85 million because of the calendar shift and one fewer week in the period.
The retailer also guided operating income to range between $125 million and $130 million, including a negative impact of $20 million because of the strengthening of the U.S. dollar.
Dec 4, 2024
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Foot Locker dropped 19% to $19.71 after the athletic footwear retailer reported third quarter revenue of $1.96 billion and diluted earnings per share of 33 cents.
Dollar Tree jumped 3.6% to $75.09 after the deep discount retailer reported better-than-expected revenue and earnings in the third quarter.
Revenue increased to $7.56 billion, and diluted earnings per share advanced to $1.12. -
Chewy Inc. decreased 1.9% to $32.99, and the online pet food store reported mixed quarterly results.
Revenue in the third quarter increased to $2.88 billion, and diluted earnings per share were 20 cents per share.
However, the company's estimate of revenue in the fourth quarter and full year was ahead of market expectations. -
Okta Inc. jumped 13% to $92.35, and the identity and access management company said revenue in the third quarter increased 14% from a year ago to $569 million.
The company also guided revenue in the fourth quarter to range between $667 million and $669 million. -
Marvell Technology jumped 13% to $108.30 after the advanced chipmaker reported higher-than-expected third quarter earnings.
Stock soared after the company estimated fourth quarter revenue of $1.8 billion. -
Salesforce jumped 12% to $371.20 after the customer relations software developer reported better-than-expected quarterly results.
The company reported higher-than-expected revenue in the third quarter of $9.44 billion and adjusted earnings per share of $2.41.
Dec 3, 2024
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Zscaler declined 5.4% to $197.25 after the company's fiscal second quarter outlook fell short of market expectations.
Revenue in the fiscal first quarter ending in October rose 26% to $628 million from $496.7 million, net loss shrank to $12 million from $33.5 million, and diluted loss per share eased to 8 cents from 23 cents a year ago.
The company estimated revenue in the fiscal 2025 second quarter to range between $633 million and $635 million and adjusted earnings per share between 68 cents and 69 cents.
For the full year 2025, the company estimated revenue between $2.623 billion and $2.643 billion and adjusted earnings per share to range between $2.94 and $2.99. -
Credo Technology Group soared 33.5% to $64.01 after the high-speed connectivity solutions provider reported fiscal second quarter results.
Revenue in the quarter ending on November 2 increased 63.6% to $72 million from $59.7 million, net loss shrank to $4.2 million from $9.4 million, and diluted loss per share eased to 3 cents from 6 cents a year ago. -
U.S. Steel declined 5.5% to $38.70 after President-elect Donald Trump said he plans to block the company's purchase by Japan's Nippon Steel.
Nippon Steel has agreed to pay $14 billion, and the company has committed to keeping most of the employees on the payroll after the acquisition. -
Tesla Inc. declined 1.9% to $350.25, and a Delaware judge upheld the previous judgment to deny chief executive Elon Musk the right to receive a pay package worth $56 billion in 2018.
Following the previous judgment issued by Chancellor Kathleen McCormick in January, Tesla moved its incorporation to Texas from Delaware and ratified the annual pay plan through a shareholder vote in June.
Tesla sought Chancellor Kathleen to reverse her opinion after the shareholder vote.
“Were the court to condone the practice of allowing defeated parties to create new facts for the purpose of revising judgments, lawsuits would become interminable,” wrote McCormick in a judgment released on Monday.
Tesla said on a social media platform, X, it plans to appeal the decision.