Movers: Kohl's Norwegian Cruise, Take Two Interactive, Tesla, Tripadvisor

Scott Peters
08 Nov, 2022
New York City

Kohl's Corporation jumped 7.6% to $28.89 after the struggling retailer said third quarter sales declined 2% on 6.9% fall in comparable store sales. 

The retailer said CEO Michelle Gass is leaving the company from Dec 2 and the board member Tom Kingsbury will serve as interim CEO.  

Lyft Inc plunged 20% after the ride-sharing company reported weaker-than-expected revenue. 

Third quarter revenue increased 22% to $1.05 billion but net loss widened to $422.2 million from $99.7 million a year ago and active rider growth fell to the slowest pace in seven quarters to 7.2% to 20.3 million. 

Norwegian Cruise Line Holdings rose 3.6% to $17.28 after the company reported smaller-than-expected loss in its latest quarter. 

The cruise company said third quarter revenue increased to $1.6 billion from $1.5 billion from a year ago. 

In the quarter, net loss shrank to $295.4 million from $856.8 million and diluted loss per share fell to 70 cents from $2.29 a year ago. 

The company said 2023 revenues are likely to match 2019 levels but at "significantly higher pricing."

Take Two Interactive declined 13.6% to $93.57 after the company lowered its annual outlook for online bookings and estimated a loss. 

The online interactive game developer said revenue in the September quarter rose 62% to $1.39 billion from $858 million a year ago. 

The company swung to a net loss of $257 million from $10.2 million and diluted earnings per share were a loss of $1.54 from 9 cents a year ago. 

The company said net bookings in the December quarter are estimated between $1.41 billion and $1.46 billion, lower than $1.5 billion in the September quarter. 

The interactive video game company lowered its net bookings for the year in the range of $5.4 billion and $5.5 billion citing foreign exchange headwinds and macroeconomic uncertainties. 

The company also estimated net loss for the year ending in March 2023 in the range between $674 million and $631 million reflecting diluted loss per share $4.22 or $3.95.   

Tesla Inc fell 3.0% to $191.28 after the company said it is voluntarily recalling Model S and X produced between 2017 and 2021 to fix the sudden loss of assisted power steering. 

Tesla disclosed the filings with the National Highway Traffic Safety Administration released Tuesday. 

The recall is estimated to cover 40,168 vehicles. 

Tripadvisor Inc plunged 17.3% to $19.31 after the company reported weaker-than-anticipated quarterly results. 

Third quarter revenue increased 51% to $459 million from $303 million from a year ago. The quarterly revenue reached 107% of 2019 levels. 

Net income rose to $25 million from $1 million and diluted earnings per share increased to  17 cents from 1 cent a year ago. 

The company cited a strong demand trend to continue in the fourth quarter and estimated revenue to increase in the low-single digit from 2019 levels.