Movers: BJ's Wholesale Club, Credit Suisse, Life Time Group, MongoDB, Silvergate Capital, SVB Financial, Tesla

  • Scott Peters
  • U.S.A. New York City
  • Mar 9, 2023
  • BJ's Wholesale Club said quarterly earnings and sales rose on record membership renewals. SVB Financial, the operator of Silicon Valley Bank, said it plans to raise capital as startups burn through bank deposits.

    BJ's Wholesale Club Holdings Inc increased 5.1% to $78.09 after the company posted better-than-expected results in its latest quarter. 

    Revenue in the fourth quarter ending on January 28 increased 13.1% to $4.9 billion from $4.3 billion a year ago. 

    Net income rose 20.7% to $129.8 million from $1107.6 million and diluted earnings per share rose to 95 cents from 78 cents a year ago. 

    Total comparable club sales increased 9.8% and comparable club sales, excluding gasoline sales advanced 8.7% from the previous year. 

    Membership fee income increased 8.0% from the previous year in the quarter to $101.8 million and the company achieved a record 90% tenured member renewal rate.  

    Credit Suisse AG decreased 2.4% to $2.83 after the company delayed releasing its annual report following a call from the U.S. Securities and Exchange Commission.  

    Life Time Group Holdings Inc increased 2.0% to $17.83 after the fitness center chain operator reported a rebound in revenue. 

    Revenue in the fourth quarter increased 31.1% to $472.7 million and the company swung to net income of $13.7 million from a loss of $304.8 million and diluted earnings per share was 7 cents compared to a loss of $1.64 in the previous year. 

    Comparable center sales rose at a slower pace of 26% from 52% in the year ago and membership increased 11.7% to 725,206. 

    Average monthly dues per center membership increased approximately 20% to $162.0.

    MongoDB Inc declined to $211.45 after the database company offered weak revenue guidance. 

    The company said revenue in the fourth quarter increased 36% to $361.3 million and net loss declined to $64.4 million from $84.4 million and diluted loss per share fell to 93 cents from $1.26 a year ago. 

    The company guided full-year 2023 revenue in the range of $1.48 billion and $1..51 billion, indicating a slower revenue growth than in 2022. 

    Silvergate Capital Corp fell 28.3% to $3.39 after the company said it plans to initiate the process of liquidating crypto-assets focused Silvergate Bank.   

    SVB Financial Group plunged 38.9% to $163.43 after the company announced its plan to raise through a $1.25 billion common stock offering and $500 million depository receipts. 

    Tesla Inc declined 0.6% to $180.83 on the news that federal safety regulators are looking to investigate what happened in a fatal collision involving a Tesla S model and a firetruck.  

Annual Returns

Company Ticker 2025 2024 2023
BJ`s Wholesale Club Holdings Inc. BJ 0% 0% 0%
MongoDB Inc. MDB 4% -41% 101%
SVB Financial Group SIVB 0% 0% 20%
Children`s Place Inc The PLCE 0% -55% -35%
Credit Suisse AG DGLD 0% 0% 0%
Silvergate Capital Corporation SI 0% 0% -94%
Tesla Inc TSLA -12% 74% 48%