Login
Breaking News
JPMorgan Chase   Citigroup   Wells Fargo   PriceSmart   WD-40   Levi Strauss   Delta Air Lines   Bassett Furniture   Aehr Test Systems  
  • ALL
    • Breaking News
    Nov 26, 2024
    • Best Buy Company declined 5.4% to $88.0 after the consumer electronics retailer reported weaker-than-estimated revenue and earnings in the third quarter.

      Revenue in the fiscal third quarter ending on November 2 declined to $9.44 billion from $9.75 billion, net income increased to $273 million from $263 million, and diluted earnings per share rose to $1.26 from $1.21 a year earlier. 

      Comparable domestic same-store store sales declined to 2.8% from 7.3%, and the retailer adjusted its full-year comparable sales estimate to decline in the range of 2.5% and 3.% from the previous estimated range of decline between 3.0% and 1.5%. 

      The company also lowered its full-year sales range to between $41.1 billion and $41.5 billion, from the previous guidance between $41.3 billion and $41.9 billion. 
      • Nov 25, 2024
      • Bath & Body Works jumped 14.5% to $34.65 after the specialty retailer reported better-than-expected results in the third quarter. 

        Revenue in the fiscal third quarter, with 13 weeks ending on November 2, increased 3% to $1.61 billion from $1.56 billion, net income declined to $106 million from $119 million, and diluted earnings per share dropped to 49 cents from 52 cents a year ago. 

        The company estimated the fourth quarter 2024 net sales to decline between 4.5% and 6.5% from $2.91 billion a year ago, largely because of a shift in calendar. 

        Fourth quarter net sales are likely to be negatively impacted by 500 basis points because of the extra one week in the quarter a year ago. 

        Fourth quarter earnings per diluted share are expected to be between $1.94 and $2.07, compared to $2.55 in the fourth quarter 2023 and adjusted earnings per diluted share of $2.06 in the fourth quarter 2023. 
        • Macy's declined 1.6% to $16.10 after the department store retailer delayed the release of its third quarter results by December 11. 

          Macy’s, Inc. net sales decreased 2.4% to $4.74 billion, with comparable sales down 2.4% on an owned basis and down 1.3% on an owned-plus-licensed-plus-marketplace basis. 

          Macy's net sales were down 3.1% and comparable sales fell 3.0%; Bloomingdale's net sales rose 1.4% and comparable sales up 1.0%; and Blue Mercury net sales were up 3.2% and comparable sales advanced 3.3%. 

          The company said it identified a single employee with responsibility for small package delivery expense accounting intentionally made erroneous accounting accrual entries. This accounted to approximately $132 to $154 million of cumulative delivery expenses from the fourth quarter of 2021 through fiscal third quarter ended November 2, 2024. 

          During this same time period, the company recognized approximately $4.36 billion of delivery expenses. 

          There is no indication that the erroneous accounting accrual entries had any impact on the company’s cash management activities or vendor payments, and the employee is no longer with the company. 

          Nordstrom and Dell Technologies are among the leading companies scheduled to release earnings this week. 
          • Nov 21, 2024
          • Nvidia Corp. reported strong quarterly results but fell short of the highest revenue expectations.

            Revenue in the fiscal third quarter increased 94% to $35.1 billion from $18.1 billion, net income soared 109% to $19.3 billion from $9.2 billion, and diluted earnings per share jumped 111% to 78 cents from 37 cents a year earlier. 

            Nvidia forecast fiscal fourth quarter revenue of $37.5 billion, with a band of 2%, and GAAP gross margin of 73% and non-GAAP gross margin of 73.5%. 

            Data center revenue increased to $30.8 billion, a jump of 17% from the previous quarter and a rise of 112% from a year ago. 
            • Nov 20, 2024
            • Target Corp. plunged 19% to $127.35 after the discount retailer reported weaker-than-expected quarterly results and guided a cautious outlook.

              Total revenue in the fiscal third quarter ending on November 2 increased 1.1% to $25.66 billion from $25.39 billion, net income plunged 12.1% to $854 million from $971 million, and diluted earnings per share fell to $1.85 from $2.10 a year earlier.   

              The retailer forecast fourth quarter earnings per share between $1.85 and $2.45, sharply lower than the market expectation of at least $2.65, and full-year earnings per share between $8.30 and $8.90. 
              • Comcast increased 1.7% to $43.05 after The Wall Street Journal said the company is planning to spinoff NBCUniversal cable TV networks, which generates annual revenue of about $7 billion. 

                The company's cable network portfolio includes, among other properties, MSNBC, CNBC, E!, Golf Channel, and USA. 
                • Powell Industries dropped 14.2% to $268.0 after the custom power solution provider reported better-than-expected quarterly results, but new orders fell short of market expectations. 

                  Fiscal fourth quarter revenue jumped 32%, earnings soared 74%, and new orders in the fiscal year fell to $1.1 billion from $1.4 in the previous year. 
                  • Keysight Technologies soared 10.5% to $168.0 after the test equipment company reported better-than-expected fiscal-fourth quarter results. 

                    Revenue declined 1.8% to $1.29 billion, net income swung to a loss of $73 million compared to a profit of $226 million, and diluted earnings per share were a loss of 42 cents compared to $1.28 a year earlier. 

                    The company forecast first fiscal quarter 2025 revenue in the range of $1.265 billion to $1.285 billion, and Non-GAAP earnings per share between $1.65 and $1.71.    
                    • Dolby Laboratories soared 11.5% to $81.19 after the audio and imaging technology provider reported better-than-expected quarterly earnings in the fiscal fourth quarter ending in September. 

                      Revenue increased to $304.8 million from $290.5 million, net income advanced to $58.6 million from $9.2 million, and diluted earnings per share rose to 61 cents from 9 cents a year earlier. 
                      • Delta Air Lines decreased 0.01% to $64.76 after the company reiterated its fourth quarter earnings per share to range between $1.60 and $1.85, and the carrier estimated fiscal 2025 capacity to increase between 3% and 4%.