Movers: Illumina, Maxeon Solar, MercadoLibre, Savers Value Village, UBS

Scott Peters
11 Aug, 2023
New York City

Savers Value Village Inc jumped 9.5% to $25.73 after the online platform for second hand merchandise reported better-than-sales in the second quarter. 

UBS Group AG jumped 4.5% to $23.24 after the Swiss bank voluntarily terminated its loss protection agreement signed at the time of Credit Suisse purchase with the Swiss National Bank and Swiss government saying the bank does not need it. 

Separately, the bank said Credit Suisse fully repaid an emergency liquidity loan of 50 billion Swiss francs to  the Swiss National Bank. 

MercadoLibre Inc decreased 2.1% to $1,358.57 after the Latin America focused e-commerce platform appointed a new chief financial officer Thursday. 

Illumina, Inc decreased 4% to $177.53 after the company said in a regulatory filing that the U.S. Securities and Exchange Commission is investigating the company over its acquisition of cancer test developer Grail. 

Maxeon Solar Technologies Ltd dropped 32.5% to $15.05 after the company missed its own sales outlook for the second quarter and forecasted even lower sales in the third quarter. 

The clean energy company reported second quarter revenue of $348 million compared to $228 million a year ago and forecasted revenue between $280 million and $320 million in the third quarter. 

Maxeon guided full-year 2023 sales between $1.25 billion and $1.35 billion and adjusted operating earnings between $80 million and $100 million and capital expenditure between $150 million and $170 million. 

Net loss in the quarter declined to $1.5 million from $87.5 million and diluted loss per share shrank to 3 cents from $2.15 a year ago. 

Solar shipments increased to 807 MW from 521 MW a year ago and the Singapore headquartered company guided between 700 MW and 740 MW in the third quarter.