Movers: Dick's Sporing Goods, Gaia, Intrepid Potash, JetBlue, Meta, Rivian, ThredUp, WW International

Scott Peters
07 Mar, 2023
New York City

Dick's Sporting Goods Inc increased 9.2% to $144.28 after the specialty retailer reported higher-than-expected sales in the holiday period. 

Profit in the fourth quarter declined 32% despite sales rising 7.3% in the period, hurt by lower gross margin. 

 Net sales in the quarter rose 7.3% to $3.60 billion from $3.35 billion in the previous year and comparable store sales rose 5.3%.

Net income fell to $235.6 million or $2.60 per share from $346.1 million or $3.16 per share in the prior-year quarter.

Excluding items, adjusted income decreased to $2.93 per share from $3.64 a year ago. 

Gaia, Inc soared 24.5% to $3.28 after the alternative video content producer and streamer swung to a net loss in its latest quarter.  

Gaia, Inc said revenue in the fourth quarter declined 6%to $19.6 million from $20.8 million and video content publishing company swung to a net loss of $0.9 million from a profit of $2.1 million and diluted earnings per share was ($0.04) compared to 11 cents a year ago. 

In 2022, revenue increased 3% to $82.0 million from $79.6 million and the company swung to a loss of $3.1 million from a profit of $3.7 million and diluted income per share fell to ($0.15) from 19 cents a year ago. 

The member  count as of December 31, 2022 was 759,000. 

Intrepid Potash, Inc declined 1.7% to $31.62 after the agrochemicals maker said a decline in earnings after higher potash costs forced farmers to restrict purchases.  

Intrepid Potash, Inc said revenue in the fourth quarter increased to $43.7 million from $38.8 million and net income fell to $3.98 million from $223.8 million and diluted earnings per share fell to 30 cents from $16.66 a year ago. 

Potash production in the quarter increased to !06 tons from 86 tons and sales volume fell to 50 tons from 61 tons a year ago. Average potash net realized sales price per ton increased to 693 from 504 a year ago. 

Revenue in the full-year 2022 rose to $337.5 million from $270.3 million and net income fell to $72.2 million from $249.8 million and diluted earnings per share fell to $5.37 from $18.66 in the previous year.  

In the full-year 2022, potash production volume in tons fell to 270 from 287, sales volume in tons declined to 222 from 331 and average potash realized net sales price per ton rose to $713 from $353 a year ago. 

JetBlue Airways Corporation declined 0.2% to $8.39 and the Justice Department sued the company to block its proposed takeover of the discount airline Spirit Airlines.  

Meta Platforms Inc increased 1% to $186.33 after a Bloomberg report said that the parent of Facebook is planning to layoff thousands of employees as early as this week. 

Rivian Automotive Inc plunged 12% to $15.02 after the electric vehicle maker said it plans to offer $1.3 billion convertible debt amid growing demand slump. 

The electric vehicle maker lost $6.8 billion in 2022 and after supply chain issues negatively impacted production. 

ThredUp Inc soared 69.8% to $2.75 after the online apparel and accessories resale platform operator reported better-than-expected revenue. The company also highlighted cost cutting steps to reach profitability. 

ThredUp Inc said revenue in the fourth quarter decreased 2% to $71.3 million and net loss attributable to stockholders was $19.5 million compared to $17.9 million and diluted loss per share increased to 19 cents from 18 cents a year ago.   

The resale platform operator said active buyers decreased 2% to 1.7 million and orders fell 8% to 1.5 million from the previous quarter. 

In 2022, revenue increased to $288.3 million from $251.8 million and net loss expanded to $92.3 million from $63.2 million and diluted loss per share rose to 92 cents from 82 cents a year ago. 

Orders in the full-year increased 22% to 6.5 million from 5.3 million in the previous year. 

WW International Inc soared 42.5% to $5.52 after the the company reported an acquisition of telehealth services provider Sequence. 

The company agreed to pay $132 million for the purchase of Sequence in three stages. 

Since its launch in late 2021, Sequence has grown into an approximately $25 million annual revenue run-rate business serving approximately 24,000 members as of February.

Formerly known as Weight Watchers said revenue in the fourth quarter declined 18.8% to $223.9 million from $275 million in the previous year. 

The company swung to a net loss of $32.5 million from a profit of $29.0 million and diluted earnings per share was ($0.46) compared to 42 cents a year ago.