Movers: Broadcom, Chewy, Costco, DocuSign, Hooker, lululemon, RH, Vail Resorts

Scott Peters
09 Dec, 2022
New York City

Broadcom Inc increased 3.5% to $549.46 after the advanced semiconductor chip maker boosted its dividend by 12% and said it plans to resume its stock repurchase program. 

Revenue in the fiscal fourth quarter increased 21% to $8.9 billion from $7.4 billion a year ago. 

Net income increased to $3.3 billion from $1.9 billion and diluted earnings per share rose to $7.8 from $4.43 a year ago. 

The company guided revenue in the fiscal first quarter ending in January of $8.9 billion.  

The company also declared a quarterly cash dividend of $4.60 a share. 

Chewy Inc increased 5.6% to $44.34 after the online pet food retailer reported better-than-expected quarterly results. 

Third quarter net sales increased 14.5% from a year ago to $2.53 billion after active customers increased to 0.6% to 20.5 million and net sales per active customers increased 13.8% to $477. 

The online retailer swung to a profit of $2.3 million from a loss of $32.2 million or diluted earnings per share were 1 cent from 8 cents loss a year ago. 

Costco Wholesale Corporation eased 0.2% to $480.71 after the membership warehouse club operator said fiscal first quarter sales increased 8.1% to $53.4 billion.

Net income increased to $1.36 billion from $1.32 billion or $3.07 from $2.98 a diluted share a year ago.

DocuSign soared 12.8% to $49.37 after the company reported better-than-expected quarterly results.

The only verification system provider said third quarter revenue increased 18% to $645.5 million and net loss widened to $29.8 million from $5.7 million or 15 cents from 3 cents a share from a year ago.

Hooker Furnishing Corp increased 0.2% after the furniture maker reported better-than-expected quarterly results. 

Net sales in the fiscal third quarter increased 136% to $151.6 million, driven by higher sales across all segments. 

In the quarter, the company swung to $4.8 million profit or 42 cents a diluted share from $1.2 million loss or 10 cents a share a year ago. 

The company sounded optimistic for the next several quarters without giving sales or earnings estimates. The furniture maker said its first quarter results are likely to see positive impact from the sharp plunge in ocean freight costs and shifting trends in furniture sales favoring lower prices. 

lululemon athletica Inc declined 12.5% to $328.01 after the company issued lighter guidance for the current quarter.

The specialty apparel retailer said third quarter revenue increased 28% to $1.9 billion and net income soared to $255.5 million from $187.8 million or $2.0 from $1.44 a share a year ago.

For the fourth quarter of 2022, the company expects net revenue between $2.605 billion and $2.655 billion, representing a three-year compound annual growth rate of approximately 24%.

Diluted earnings per share are expected to be in the range of $4.20 to $4.30 for the quarter.

RH, formerly known as Restoration Hardware, increased 3.4% to $275.0 after the furniture retailer reported quarterly results ahead of expectations. 

Revenue in the fiscal third quarter ending in October declined to $869 million from $1.00 billion a year ago. 

Net income the quarter plunged to $99 million from $184 million and earnings per share fell to $3.88 from $5.88 a year ago. 

The company also highlighted weakening market conditions are likely to impact sales for several quarters. 

"We expect our business trends will continue to deteriorate as a result of accelerating weakness  in the housing market over the next several quarters and possibly longer," said chairman and chief executive officer Gary Friedman.  

The company revised its fiscal 2022 revenue to decline between 3.5% and 4.5% from the previous range of decline between 3.5% and 5.5%. 

Vail Resorts, Inc increased 2.9% to $258.93 after the ski resort operator and developer 

Revenue in the first quarter increased to $279.4 million from $175.5 million a year ago.  

Net loss in the quarter declined to $137.0 million from $139.3 million or loss per diluted share decreased to $3.40 from $3.44 a year ago.