Movers: BlackBerry, CarParts.com, Cricut, Crowdstrike, Harte Hanks, Occidental Petroleum, Stitch Fix

Scott Peters
08 Mar, 2023
New York City

BlackBerry Ltd increased 4.2% to $3.65 after the cybersecurity company reported preliminary quarterly results. 

BlackBerry Limited said preliminary revenue in the fourth quarter is expected to be $151 million, including $107 million in cybersecurity billings. 

BlackBerry’s results are expected to include a material non-cash, one-time goodwill impairment charge of as much as $440 million for the Spark reporting unit.

Total revenue in the full-year 2022 is expected to be $656 million, including cybersecurity revenue of $401 million. 

Fourth quarter and full-year fiscal year 2023 revenue for BlackBerry’s Cybersecurity business unit is expected to be lower than the outlook provided during the third quarter's earnings call, primarily due to certain large government deals taking longer-than-expected. 

CarParts.com, Inc decreased 2.7% to $5.95 after the online automobile parts seller reported a slightly larger quarterly loss compared to a year ago. 

CarParts.com, Inc said revenue in the fourth quarter increased 12% from a year ago to $154.5 million and jumped 27% on a two-year stack. 

Net loss expanded to $6.2 million from $5.0 million and diluted loss per share rose to 11 cents from 10 cents a year ago. 

In the full-year, revenue increased 14% from a year ago to a record $661.6 million and increased 45% on a two-year stack. 

Net loss shrank to $1.0 million from $10.0 million and diluted loss per share declined to 2 cents from 20 cents a year ago. 

Cricut Inc fell 2.2% to $8.80 after the maker of connected cutting machines reported a decline in revenue and earnings in the fourth quarter. 

Revenue in the quarter declined to $280.8 million from $387.8 million and net income dropped to $10.9 million from $11.9 million and diluted earnings per share was flat at 5 cents. 

Full-year 2022 revenue declined to $886.3 million from to $1.3 billion and net income declined to $60.7 million from $140.5 million and diluted earnings per share fell to 28 cents from 64 cents a year ago. 

Crowdstrike Holdings Inc added 1.3% to $126.57 after the cybersecurity company reported better-than-expected quarterly results. Revenue in the fourth quarter increased to $637 million and earnings per share rose to 47 cents. 

Occidental Petroleum Corporation increased 1.4% to $61.70 after a regulatory filing showed that the Warren Buffett controlled Berkshire Hathaway increased its stake in the company by purchasing 5.8 million additional shares last week. 

Harte Hanks, Inc increased 0.3% to $10.23 after the direct mail services company reported an increase in revenue in its latest quarter. 

Harte Hanks, Inc said revenue in the fourth quarter increased 5.4% to $54.8 million from $52.0 million a year ago. 

Net income increased to $21.8 million, inclusive of a one-time $19.8 million tax benefit and $1.4 million in other expenses mainly related to pension expense and foreign currency loss, compared to net income of $1.8 million a year ago.  

Diluted earnings per share was $2.70 compared to 20 cents a year ago. In the full-year 2022, revenues increased 6% to $206.3 million from $194.6 million and net income rose to $36.8 million from $15 million and diluted earnings per share was $4.75 compared to $1.76 a year ago. 

Stitch Fix Inc dropped 13.5% to $4.31 after the online fashion platform reported wider-than-expected loss. 

Stitch Fix Inc said revenue in the fiscal second quarter ended on January 28 declined 20% to $412.1 million and net loss expanded to $65.6 million from $30.9 million and diluted loss per share rose to 58 cents from 28 cents a year ago. 

Active clients in the quarter declined 11% to 3.6 million and net revenue per active client fell 6% to $516 million.     

The company forecasted revenue in the fiscal third quarter ending on April 29 in the range between $385 million and $395 million, a decline between 20% and 22% from the previous year.