Movers: BJ's Wholesale Club, Credit Suisse, Life Time Group, MongoDB, Silvergate Capital, SVB Financial, Tesla

Scott Peters
09 Mar, 2023
New York City

BJ's Wholesale Club Holdings Inc increased 5.1% to $78.09 after the company posted better-than-expected results in its latest quarter. 

Revenue in the fourth quarter ending on January 28 increased 13.1% to $4.9 billion from $4.3 billion a year ago. 

Net income rose 20.7% to $129.8 million from $1107.6 million and diluted earnings per share rose to 95 cents from 78 cents a year ago. 

Total comparable club sales increased 9.8% and comparable club sales, excluding gasoline sales advanced 8.7% from the previous year. 

Membership fee income increased 8.0% from the previous year in the quarter to $101.8 million and the company achieved a record 90% tenured member renewal rate.  

Credit Suisse AG decreased 2.4% to $2.83 after the company delayed releasing its annual report following a call from the U.S. Securities and Exchange Commission.  

Life Time Group Holdings Inc increased 2.0% to $17.83 after the fitness center chain operator reported a rebound in revenue. 

Revenue in the fourth quarter increased 31.1% to $472.7 million and the company swung to net income of $13.7 million from a loss of $304.8 million and diluted earnings per share was 7 cents compared to a loss of $1.64 in the previous year. 

Comparable center sales rose at a slower pace of 26% from 52% in the year ago and membership increased 11.7% to 725,206. 

Average monthly dues per center membership increased approximately 20% to $162.0.

MongoDB Inc declined to $211.45 after the database company offered weak revenue guidance. 

The company said revenue in the fourth quarter increased 36% to $361.3 million and net loss declined to $64.4 million from $84.4 million and diluted loss per share fell to 93 cents from $1.26 a year ago. 

The company guided full-year 2023 revenue in the range of $1.48 billion and $1..51 billion, indicating a slower revenue growth than in 2022. 

Silvergate Capital Corp fell 28.3% to $3.39 after the company said it plans to initiate the process of liquidating crypto-assets focused Silvergate Bank.   

SVB Financial Group plunged 38.9% to $163.43 after the company announced its plan to raise through a $1.25 billion common stock offering and $500 million depository receipts. 

Tesla Inc declined 0.6% to $180.83 on the news that federal safety regulators are looking to investigate what happened in a fatal collision involving a Tesla S model and a firetruck.