Breaking News
Dec 5, 2024
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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. -
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. -
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. -
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. -
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. -
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. -
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. -
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. -
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. -
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.
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