Moves: Beazer Homes, Doximity, Duolingo, LegalZoom, US Bancorp, Wynn Resorts

Scott Peters
11 Nov, 2022
New York City

Beazer Homes added 1.7% to $12.53 after the homebuilder reported revenue and earnings ahead of expectations in its latest quarter. 

Total revenue in the fiscal fourth quarter increased to $827.6 million from $590.9 million a year ago. 

Net income in the period rose to $86.8 million from $43.8 million and diluted earnings per share increased to $2.82 from $1.57 a year ago. 

Rising home prices and improving gross margin drove the better performance in the quarter. 

Homebuilding gross margin increased 330 basis points to 22.6% and average home price increased 22% to $510,700. 

Doximity Inc soared 20% to $31.60 after the online platform for healthcare professionals reported better-than-expected quarterly results. 

Revenue in the fiscal second quarter ending in September increased 29% to $102.2 million from $79.4 million a year ago. 

Net income in the quarter declined to $26.3 million from $36.1 million and diluted earnings per share dropped to 12 cents from 17 cents a year ago. 

For the December quarter, the company guided revenue between $110.7 million and $111.7 million. 

The company also launched a $70 million stock repurchase plan to be executed over the next twelve months. 

Duolingo Inc fell 3.3% to $83.30 and the online language platform operator reported a smaller loss and lifted its annual outlook. 

Revenue in the September quarter increased 51% to $96.1 million from $63.6 million a year ago. 

Net loss in the third quarter shrank to $18.5 million from $28.9 million and diluted loss per share declined to 46 cents from 98 cents a a year ago. 

Monthly active users increased 35% to 56.1 million, daily active users rose 51% to 14.9 million and paid subscribers jumped 68% to 3.7 million.  

The company estimated fourth quarter revenue between $98 million and $101 million and full-year 2022 revenue between $364 million and $367 million. 

LegalZoom.com, Inc  soared 15% to $10.92 and the online legal documents and advice provider reported smaller-than-expected quarterly loss and lifted its full-year revenue estimate. 

Revenue in the third quarter increased 4% to $154 million from $148 million a year ago. 

Net loss in the third quarter shrank to $10.1 million from $39.7 million and diluted loss per share fell to 5 cents from 20 cents a year ago. 

The company guided fourth quarter revenue between $145 million and $147 million and full-year 2022 revenue between $617 million and $619 million. 

US Bancorp fell 0.3% to $44.75 and Warren Buffett-controlled Berkshire Hathaway lowered its stake in the bank to 53 million shares of 3.6%, according to a regulatory filing with the SEC. 

Berkshire has sold 91 million shares in the year so far and slashed its holding in the financial services company. 

Wynn Resorts added 3.2% to $74.58 and  Las Vegas Sands added 4.3% to $43.85 after China loosened Covid-19 restrictions. 

Both companies have a significant presence in Macau, China, a tourist and travel destination for Chinese citizens.