Breaking News
Dec 11, 2024
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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. -
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. -
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. -
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. -
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. -
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. -
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. -
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. -
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%. -
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."
Dec 10, 2024
Dec 6, 2024