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Market Update

General Motors advanced 0.7% to $53.55 after the company canceled its plan to stop funding self-driving technology by car company Cruise. 

 

 


11 Dec, 2024

 

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. 


10 Dec, 2024

 

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. 


10 Dec, 2024

 

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. 


10 Dec, 2024

 

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." 


06 Dec, 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%.


06 Dec, 2024

 

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.


06 Dec, 2024

 

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. 


05 Dec, 2024

 

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. 


05 Dec, 2024

 

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. 


05 Dec, 2024

 

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. 


04 Dec, 2024

 

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. 


04 Dec, 2024

 

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. 


04 Dec, 2024

 

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. 


04 Dec, 2024

 

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. 


04 Dec, 2024