Movers: Apogee, Aurora Cannabis, Beyond Meat, Chemours, General Mills, Stitch Fix

Barry Adams
21 Sep, 2022
New York City

Apogee Enterprises Inc added 0.7% to $41.73 and the company said revenue in the fiscal year 2023 increased 14% to $372.1 million from $325.8 million a year ago. 

The architectural products and services provider swung in the quarter ending on August 27  to a net income of $37.4 million from a loss of $2.1 million. 

Diluted earnings per share was $1.68 compared to a loss of 8 cents a year ago. 

The company lifted its guidance for full-year adjusted earnings to a range of $3.75 to $4.05 per diluted share, up from the previously announced range of $3.50 to $3.90. 

The company expects full-year revenue growth of 8% to 10%, primarily driven by growth in Architectural Framing Systems and full-year capital expenditures of approximately $40 million.

Aurora Cannabis Inc dropped 7.5% to $1.30 after the company reported break-even quarterly earnings on an adjusted basis. 

Net loss in the fourth quarter ending in June was $618.8 million compared to $134.0 million a year ago.

The increase in net loss was primarily due to non-cash impairment charges of $505.1 million driven by the write down of goodwill, intangible assets and property and plant assets. 

Revenue in the quarter was nearly unchanged at $50.2 million compared to $50.4 million a year ago. 

Beyond Meat Inc added 1.6% to $16.29 after the company said it has suspended Chief Operating Officer Doug Ramsey  after he was arrested for an altercation at a football game. 

Jonathan Nelson, senior vice president was appointed as interim COO.  

Chemours Company declined 4.3% to $29.41 after the advanced performance materials and Titanium technologies developer lowered its adjusted operating earnings outlook for the full-year. 

The company lowered its adjusted operating earnings in the range of $1.4 billion to $1.45 billion from the previous estimate between $1.475 billion and $1.575 billion.  

Changes to the Titanium Technologies segment outlook drove the entirety of the change in the company