Movers: Carvana, Dave & Buster's. Lowe's, MongoDB, Thor Industries, Toll Brothers

Scott Peters
07 Dec, 2022
New York City

Carvana Co plunged 43.2% to $3.83 on growing fears that the used car dealer may have to seek bankruptcy protection. 

The stock collapsed in trading today after a Bloomberg report indicated that unsecured creditors, including PIMCO and Apollo Global Management signed a deal to cooperate in negotiating with the company. 

However, JPMorgan analyst Rajat Gupta said in a research note to investors that the company has "enough cushion through short term revolvers"  and liquidity till the end of 2023. 

Dave & Buster's Entertainment Inc fell 3.9% to $34.77 despite the restaurant operator reported better-than-expected quarterly results. 

Revenue in the the fiscal third quarter increased 51.3% to $481.2 million, including the acquisition of Main Event.  

Net income in the quarter ending in October declined to $1.9 million from $10.6 million and diluted earnings per share fell to 4 cents from 21 cents a year ago. 

Including the pro forma contribution of Main Event stores in the prior periods, total revenue increased 20.6% from a year ago and rose 32.5% from the similar pre-pandemic quarter in 2019.  

Lowe's Companies Inc announced a new $15 billion stock repurchase program with no expiration date in addition to the previous program's balance of $6.4 billion as of December 6, 2022.

The company is set to present its long-term outlook with analysts and investors at 8:00 a.m. ET Wednesday. 

MongoDB Inc soared 27% to $184.32 after the database developer said the fiscal third quarter revenue increased 47% to $333.6 million and net income rose to $84.8 million from $81.3 million or $1.23 from $1.22 a diluted share a year ago.

Non-GAAP net income increased to $18.7 million or $0.23 per share based on 80.4 million diluted weighted-average shares outstanding from $2.6 million or $0.03 per share in the year-ago period.

Toll Brothers Inc rose 1.6% to $46.70 after the luxury home builder said the fiscal fourth quarter sales increased 23.3% to $3.7 billion and net income rose to $640.5 million from $374.3 million or $5.63 from $3.02 a share from a year ago.

Home sales gross margin increased to 26.9% from 23.5% a year ago and Net signed contract value was $1.3 billion, down 56% and contracted homes were  1,186, down 60% from a year ago.  

The company recorded a pre-tax gain of $148.4 million, or $195 million gross, after it settled with Southern California Gas Company for a gas leakage near its community located in Aliso Canyon. 

The average price of a home sold increased to $951,100 from $883,100. 

Thor Industries, Inc increased 3.5% to $87.10 after the recreation vehicle maker said net sales in the fiscal first quarter increased 21.5% to $3.11 billion and net income declined to $136.2 million from $242.2 million or $2.53 from $4.34 a year ago.