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Nov 7, 2024
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Wolfspeed dropped 25% to $10.31 after the advanced chipmaker reported lower-than-expected revenue in its latest quarter, and the company's outlook fell short of market expectations.
Revenue in the fiscal first quarter ending in September decreased to $194.7 million from $197.4 million, net loss from continuing operations expanded to $282.2 million from $123.4 million, and diluted loss per share rose to $2.23 from 99 cents a year ago.
The company estimated sharply lower revenue in the fiscal second quarter as the organization transitions to more advanced production technology.
For its second quarter of fiscal 2025, Wolfspeed targets revenue from continuing operations in a range of $160 million to $200 million and GAAP net loss at $401 million to $362 million, or $3.14 to $2.84 per diluted share.
The company also won a federal grant of $750 million under CHIPS and Science and an additional $750 million from its lending group, increasing its access to $2.5 billion of capital. -
Arm Holdings PLC increased 2.2% to $147.53 after the fabless chip maker reported better-than-expected quarterly results.
Revenue in the fiscal second quarter ending in September increased 5% to $844 million from $806 million; net income swung to a profit of $107 million from a loss of $110 million, and diluted earnings per share were 10 cents compared to a loss of 11 cents a year ago.
The chipmaker estimated fiscal third quarter revenue to fall between $920 million and $970 million, and non-GAPP fully diluted earnings per share between 32 cents and 36 cents; and for the fiscal year 2025 revenue to range between $3.8 billion and $4.1 billion, and non-GAAP diluted earnings per share to range between $1.45 and $1.65.
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Lyft jumped 26% to $18.23 after the company reported its quarterly results and issued a stronger than-expected outlook.
Revenue in the third quarter increased to $1.5 billion from $1.15 billion, net loss expanded to $12.5 billion from $12.1 billion, and diluted earnings per share were unchanged at 3 cents per share.
Gross booking rose 16% to $4.1 billion from $3.55 billion, and active riders increased to 24.4 million from 22.4 million a year ago, respectively.
The ride-hailing company is now forecasting fourth quarter bookings of $4.28 billion and $4.32 billion, an increase between 15% and 17% from a year ago. The company also estimated adjusted operating earnings between $100 and $105 million in the next quarter.
For the full-year 2024, the company estimated annual booking growth of 17% and annual number of rides growth in the mid-teens.
Nov 4, 2024
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Berkshire Hathaway Inc. Class B declined 0.3% to $451.0 after the diversified conglomerate reported its quarterly results.
Total revenue in the third quarter declined to $92.99 billion from $93.21 billion, net earnings attributable to shareholders swung to a profit of $26.2 billion from a loss of $12.7 billion, and diluted earnings per Class B share were $12.18 from a loss of $5.88 a year earlier.
The company's operating earnings from fully-owned businesses declined 6% to $10.1 billion, reflecting a weakness in its underwriting business.
Investment in equity securities declined to $271.6 billion from $353.8 billion, and cash and equivalent rose to $325.2 billion from $276.9 billion a year ago. -
Marriott International declined 2% to $255.30 after the hotel chain operator reported its quarterly results.
Revenue increased 6% to $6.3 billion from $5.9 billion, net income plunged 22% to $584 million from $752 million, and diluted earnings per share fell 18% to $2.02 from $2.51 a year ago.
The company added a net of 16,000 rooms in the quarter and indicated about 3,800 properties with 585,000 rooms were in the development stage around the world.
The company also confirmed it acquired 4.5 million shares of common stock for $1.0 billion in the third quarter.