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    • Breaking News
    Jun 13, 2023
    • Consumer price index for May eased to 4.0% in May on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported Tuesday. 

      The inflation rate dropped to the slowest pace since March 2021, but prices are still rising at a faster pace than preferred by the Federal Reserve. 

      On a monthly basis prices rose 0.1% in May, slower than 0.4% rise in April. 

      Core inflation, which excludes food and energy, declined to 5.3%, the slowest pace since November 2021. 

      The shelter index increased 8.0% over the last year, accounting for over 60% of the total increase in all items less food and energy. 

      Other indexes with notable increases over the last year include motor vehicle insurance up 17.1%, recreation 4.5%, household furnishings and operations 4.2%, and new vehicles 4.7%. 

      On a monthly basis, the index for all items less food and energy or core inflation, rose 0.4% in May, as it did in April and March. 

      The shelter index increased 0.6% over the month after rising 0.4% in April and the index for rent rose 0.5% in May, as did the index for owners' equivalent rent.

      On a monthly basis, food prices rose 0.2%, energy prices declined 3.6% and gasoline prices plunged 5.6%. 

      New car prices decreased 0.1% but used cars and trucks prices rose 4.4%. 

      Elevated home and rental prices were main drivers of inflation and shelter cost increased 0.6% from the previous month in May. 

       
      • Jun 8, 2023
      • HashiCorp Inc plunged 21.4% to $27.40 after the cloud computing company reported weaker than expected earnings. 

        Revenue in the first quarter ending in April increased 37% to $138.0 million and net loss shrank to $53.2 million from $82.2 million and diluted loss per share fell to 28 cents from 43 cents a year ago. 

        The company estimated fiscal second quarter revenue between $137 million and $139 million and non-GAAP loss per share between 14 cents and 16 cents. 

        The company estimated full-year revenue between $564 million and $570 million and non-GAPP loss per share between 24 cents and 27 cents. 

        In addition, the company announced its plan to reduce its workforce by 8% citing macroeconomic headwinds. 
        • Signet Jewelers Limited dropped 9% to $63.01 after the specialty retailer lowered its revenue and earnings estimate for the full-year and forecasted weaker-than-expected second quarter revenue and operating income. 

          Sales in the fiscal first quarter ending in April declined 9.3% to $1.7 billion and same store sales declined 13.9% from a year ago. 

          Sales in North America declined 8.4% to $1.6 billion and same store sales fell 14.2% from a year ago. 

          The company swung net income attributable to shareholders to $88.8 million from a loss of $92.1 million and diluted earnings per share was $1.79 compared to ($1.89). 

          The company declared quarterly dividend per share of 23 cents to shareholders on record July 28 and payable on August 25. 

          The company repurchased $39.1 million of its shares in the first quarter.
          • GameStop Corp declined 21.6% to $20.46 after the company ousted chief executive Matthew Furlong and said Ryan Cohen will take over as executive chairman. 

            Net sales in the first quarter ending in April declined to $1.237 billion from $1.378 billion and net loss shrank to $50.5 million from $157.9 million and diluted loss per share fell to 17 cents from 52 cents a year ago. 

            The company ousted chief executive Matthew Furlong and said Ryan Cohen will take over as executive chairman. 
            • Jun 7, 2023
            • Stitch Fix Inc soared 9% to $4.01 after the online fashion platform posted a loss of 19 cents a share on revenue of $395 million. 

              Net revenue in the fiscal third quarter ending in April declined 20% to $394.9 million and active clients fell 11% to 3.476 million. 

              Net loss in the quarter shrank to $12.8 million from $78 million and diluted loss per share fell to 19 cents from 78 cents a year ago. 

              The company estimated fiscal fourth quarter revenue between $345 million and $365 million,  a decline between 20% and 22% from a year ago. 

              The company also said it plans to exit from the UK in the next fiscal year.
              • Dave & Buster's Entertainment Inc jumped 4.7% to $35.34 after the restaurant chain operator reported quarterly results ahead of market expectations. 

                Revenue in the first quarter increased 32.4% to $597.3 million and comparable sales including Main Event stores decreased 4.1% from a year ago. 

                Net income increased to $70.1 million from $67.0 million and diluted earnings per share advanced to $1.45 from $1.35 a year ago. 

                The company repurchased 3.6 million shares in the first quarter at a total cost of $125.5 million and subsequent to the end of  the quarter, the company purchased an additional 2.1 million shares at a total cost of $74.5 million, bringing the total  repurchases in fiscal 2023 to 5.7 million shares totaling $200.0 million, representing 11.8% of the outstanding shares as of  the end of fiscal 2022.

                The company signed two international franchise agreements for up to 15 stores in India and up to 5 stores in Australia. 
                • Yext Inc soared 45% to $13.94 after the online marketplace operator reported better-than-expected quarterly results. 

                  Revenue in the fiscal first quarter ending in April increased 1% to $99.4 million from $98.8 million and net loss shrank to $0.4 million from $25.8 million and diluted loss per share eased to breakeven from 20 cents a year ago. 
                  • Jun 6, 2023
                  • Thor Industries Inc soared 8.6% to $89.03 after the recreational vehicle maker reported better-than-expected quarterly earnings and lifted its full-year estimate. 

                    Net sales in the third quarter ending in April dropped 37.1% to $2.93 billion and net income plunged to $120.7 million from $348.1 million and diluted earnings per share fell to $2.24 from $6.32 a year ago. 

                    The company tightened its full-year net sales and diluted earnings per share outlook.

                    The company lowered its fiscal year 2023 sales range between $10.5 billion and $11.0 billion from the previous range between $10.5 billion and $11.5 billion. 

                    Fiscal year 2023 diluted earnings per share range was revised to between $5.80 and $6.50 from between $5.50 and $6.50.  
                    • Mobileye Global Inc declined 2.5% to $41.44 after the company announced its plan to sell 35 million class A shares in a secondary offering according to a regulatory filing. 
                      • GitLab Inc increased 23.6% to $43.77 after the database developer reported smaller-than-estimated loss and offered a positive outlook for the current quarter and full-year. 

                        Revenue in the fiscal first quarter ending in April increased 45% to $126.9 million from $87.4 million and net loss expanded to $52.5 million from $26.1 million and diluted loss per share widened to 35 cents from 18 cents a year ago. 

                        The company guided fiscal second quarter revenue between $129.0 million and $130.0 million and for full-year between $541.0 million and $543.0 million. 

                        The database developer forecasted non-GAAP fiscal second quarter net loss between 10 cents and 11 cents and for full-year 14 cents and 18 cents.