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    • Breaking News
    Aug 22, 2023
    • Dick's Sporting Goods Inc plunged 24.1% to $111.53 after the sporting goods retailer reported sharply lower earnings per share and the company blamed the shortfall to higher-than-usual theft. 

      Dick's said fiscal second quarter revenue was $3.22 billion and diluted earnings per share was $2.82, sharply lower than some analysts estimate of as high as $3.79. 

      The retailer also lowered its annual outlook. 
      • Lowe's Companies Inc increased 3.6% to $225.74 after the home improvement retailer reiterated its full-year outlook. 

        Revenue in the quarter ending on August 4 declined to $24.96 billion from $27.5 billion and net income decreased to $2.67 billion from $2.88 billion and diluted earnings per share fell to $4.56 from $4.68 a year earlier.   
        • Aug 21, 2023
        • Earthstone Energy Inc soared 13.8% to $18.42 after the company agreed to be acquired by  Permian Resources in an all-stock deal that valued the company at $4.5 billion, including the company's debt. 

          Each share of Earthstone common stock will be exchanged for 1.446 shares of Permian Resources common stock.

           
          • VMware Inc jumped 4.2% to $161.28 after Broadcom said it got the UK's Competition and Market Authority gave its final approval of the purchase of the cloud computing company. 

            Broadcom Inc jumped 2.4% to $845.25. 
            • Palo Alto Networks Inc jumped 14.5% to $242.84 after the cyber security and network infrastructure company reported better-than-expected quarterly results. 

              Revenue in the fiscal fourth quarter ending in July rose 26% to $2.0 billion and net income increased $227.7 million from $3.3 million and   diluted earnings per share jumped to 64 cents from 1 cent a year ago. 

              The company guided fiscal first quarter revenue in the range between $1.82 billion and $1.85 billion and diluted non-GAAP earnings per share between $11.15 and $1.17.  
              • Aug 17, 2023
              • Cisco Systems Inc rose 3.8% to $55.02 after the networking gear maker reported better-than-expected revenue and earnings in its latest quarter. 

                Revenue in the fiscal fourth quarter ending in July increased 16% to $15.2 billion from $13.1 billion and net income rose to $4 billion from $2.8 billion and diluted earnings per share increased to 97 cents from 68 cents a year ago. 

                For the full-year fiscal 2023, revenue increased 11% to $57 billion from $51.5 billion and net income rose to $12.6 billion from $11.8 billion and diluted earnings per share increased to $3.07 from $2.82 a year ago. 

                The networking company guided revenue in the fiscal first quarter 2024 between $14.5 billion and $14.7 billion and GAAP earnings per share between 79 cents and 84 cents.  
                • CVS Health Corp decreased 9.5% to $66.10 after Blue Shield of California dropped the company's pharmacy services. 

                  The company said it will partner with Cost Plus Drug Company and Amazon pharmacy services to save drug costs for its 5 million members. 
                  • Walmart Inc declined 1.4% to $156.95 despite the retailer reporting better-than-expected quarterly results.

                    Revenue in the second quarter increased 5.7% to $161.6 billion and net income advanced to $7.9 billion from $5.1 billion and diluted earnings per share rose to $2.92 from $1.88 a year ago. 

                    Walmart U.S. sales increased 5.7% to $110.9 billion and comparable sales excluding fuel increased 6.4% after number of transactions rose 2.9% and average ticket size increased 3.4%.  

                    The company guided third quarter revenue to increase 3% and adjusted earnings per share between $1.45 and $1.50 and revenue growth in fiscal year 2024 between 4.0% and 4.5% and adjusted earnings per share between $6.36 and $6.46. 
                    • Aug 15, 2023
                    • Home builders were in focus after Berkshire Hathaway acquired positions in NVR, Lennar and DR Horton, according to a regulatory filing.

                      DR Horton gained 2.2% to $125.97, Lennar jumped 0.6% to $124.61 and NVR gained 1.7% to $6,262.79 after the diversified conglomerate Berkshire Hathaway took stakes in home builders. 

                      According to a regulatory filing with the SEC, Berkshire acquired a $726 million stake in DR Horton, $70 million in NVR and $17.2 million in Lennar.  
                      • Discover Financial Services dropped 7.7% to $94.66 after the company announced the resignation of chief executive Roger Hochschild.   

                        The company's board appointed John Owen as interim president and chief executive and Hochschild will remain as an advisor through the end of the year.