Dave & Buster's reported record quarterly revenue but comparable store sales declined in the fiscal first quarter. Tesla said some of its new models are eligible for tax credit. Stitch Fix plans to exit from its UK business.
Thor Industries reported a sharp decline in sales and estimated market weakness to persist in the remainder of the year. GitLab sales and quarterly losses soared. Coinbase to face SEC lawsuit. Mobileye announced a secondary offering.
Apple Inc traded at a new intraday record high ahead of new product announcements later today. Amedisys received a competing buyout offer. UBS said it is nearing the completion of the takeover of Credit Suisse.
Lululemon Athletica reported strong quarterly revenues on the back of sustained growth in the domestic market and rapid international expansion. MongoDB raised its second quarter and full-year sales outlook.
Macy's lowered its annual sales outlook. Dollar General lowered its comparable sales estimate citing macroeconomic headwinds. Chewy reported better-than-expected sales.
Advance Auto Parts lowered its full-year earnings outlook and slashed its capital expenditures. Hewlett Packard Enterprise estimated weak fiscal third quarter sales outlook. HP Inc said quarterly sales plunged from a year ago. American Airlines lifted its earnings outlook.
Travel and hospitality linked stocks were in focus after the TSA screened a record number of passengers during Memorial Day weekend. Toyota Motor and Daimler Truck agreed to merge their truck operations in Japan. Nvidia crossed $1 trillion in market capitalization.
Gap Inc said margins improved and air freight expenses declined in the latest quarter. Marvell Technology estimated sales growth acceleration in the second quarter. RH forecasted higher markdowns in the current quarter.
Nvidia soared after the advanced chipmaker estimated a surge in second quarter revenue, driven by the demand for its AI chips. Best Buy estimated a decline in comparable sales in the current fiscal year. American Eagle estimated a sharp fall in second quarter sales.
Abercrombie & Fitch unexpectedly reported profit in the first quarter and lifted its annual sales growth outlook. Lowe's lowered its annual sales outlook and deepened the decline in annual comparable sales estimate.
Micron Technology products were banned by China regulatory agency citing security risks. PacWest Bancorp sold assets to raise cash. Meta Platforms will appeal a fine levied by the European regulator for data protection law violations.
Applied Materials reported mixed quarterly results. Foot Locker reported a sharp decline in sales on weak comparable sales in the first quarter. Deere & Company reported better-than-expected quarterly results on the back of strong worldwide sales of equipment.
Bath & Body Works reported a decline in sales and earnings and forecasted weaker results for the full-year. Cisco Systems offered cautiously optimistic outlook for the year. Take Two Interactive estimated net loss in the fiscal year 2024.
The Container Store Group swung to a quarterly loss but forecasted profit in the current fiscal year. Evgo Inc announced a secondary stock offering. Target Corp said sales barely rose and profit declined in the first quarter.
Nu Holdings, the Brazil-based and Latin America focused online bank reported a surge in new customers, deposits and loans in the first quarter. Home Depot forecasted a decline in sales and comparable sales in fiscal year 2023.
