Movers: Autozone, Cava Group, John Wiley, Kroger, Lennar, Toyota Motor

Scott Peters
15 Jun, 2023
New York City

Cava Group soared more than 110% and traded as high as $45 after the restaurant company completed its initial public offering. 

Cava sold 14.4 million shares at $22 each and raised $318 million. 

Toyota Motor Corp increased 1.9% to $168.72 and the stock extended its weekly gain after shareholders reelected company chairman Akio Toyoda yesterday. 

Kroger Co declined 2.8% to $45.88 after the company reiterated its same store sales excluding gasoline sales for the year. 

Sales in the first quarter increased to $45.1 billion from $44.6 billion and net income increased $962 million and diluted earnings per share increased to $1.32 from 90 cents a year ago. 

The company reaffirmed Identical sales excluding gasoline sales to grow between  1.0% and 2.0%, with underlying growth between 2.5% and 3.5% after adjusting for the effect of Express Scripts. 

Adjusted net earnings per diluted share between $4.45 and $4.60, including an estimated benefit from the 53rd week of approximately $0.15. 

Lennar Corp advanced 3.5% to $118.78 after the home builder reported better-than-expected fiscal fourth quarter results and the company lifted its unit sales outlook for the year.  

Total revenue increased 21% to $10.2 billion from $8.4 billion and net income edged up to $1.3 billion from $1.2 billion and diluted earnings per share advanced to $4.55 from $3.91 a year ago. 

Homes delivered increased 13% to 20,064 and order backlog dropped 21% to 18,869 and backlog order value dropped 23% to $8.7 billion. 

The company guided new orders and home deliveries in the quarter between 12,000 and 13,500 and average sales price between $440,000 and $450,000 and gross margin of 21%. 

Autozone Inc jumped 3.5% to $2,489.51 after the specialty retailer expanded its stock repurchase program by $2 billion. 

John Wiley & Sons Inc dropped 13.5% to $31.43 after the company reported a decline in quarterly sales and management announced a restructuring plan including the sale of non-core education businesses.

Revenue in the fiscal fourth quarter ending in April declined 4% to $526 million and net income increased to $68.3 million from $43.2 million and diluted earnings per share advanced to $1.22 from 76 cents a year ago.