Breaking News
Sep 6, 2023
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Asana Inc declined 12.4% to $18.94 despite the work management reporting strong quarterly results and revised higher its full-year outlook.
Revenue in the second quarter increased 20% to $162.5 million from $134.9 million and net loss shrank to $71.4 million from $113 million and diluted loss per share declined to 33 cents from 55 cents a year earlier.
The company revised higher its third quarter revenue to between $163.5 million and $164.5 million, an increase of 16% and full-year 2024 revenue between $642 million to $648 million, an increase of 17% from a year ago. -
Southwest Airlines Co declined 3.2% to $29.82 after the regional airline estimated August bookings were near the "lower-end" of the company's expectations.
The airline also added third quarter revenue per seat mile is likely to be near the low end of its previous estimate. -
Roku Inc soared 6.8% to $88.86 after the company lifted its third quarter revenue to a new range between $835 million and $875 million from the previous estimate of $815 million.
The company also announced its plan to lay off 10% of its staff and review its aggregated content to trim costs and consolidate its office space. -
Gitlab Inc increased 0.7% to $50.10 after the database platform developer reported better-than-expected second quarter results.
Second quarter revenue increased 38% to $139.6 million from $101 million and net loss shrank to $51.2 million from $61.5 million and diluted loss per share decreased to 33 cents from 40 cents.
The company guided third quarter revenue between $140 million and $141 million and fiscal year 2024 revenue between $555 million and $557 million.
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Airbnb Inc jumped 6.3% to $140.81 after the S&P Dow Jones Indices announced Friday that the short term rental platform operator will be included in the S&P 500 index from Sep 18.
Blackstone and Airbnb will replace Newell Brands and Deere & Company. -
Brady Corp soared 11.1% to $56.48 after the company posted quarterly results and reported adjusted earnings per share of $1.04.
Sales in the fiscal fourth quarter ending in July increased 6.8% to $345 .9 million from $324 million and net income rose to $49.4 million from $41 million and diluted earnings per share advanced to $1.0 from 81 cents a year ago.
During the quarter and year ended July 31, the company returned $56.4 million and $120.4 million, respectively, to shareholders in the form of dividends and share repurchases.
On August 30, the Board of Directors authorized an additional $100 million of shares for repurchase, about 2 million shares based on current share price and approximately 4.4% of total outstanding shares.
The industrial printer maker forecasted diluted earnings per share in the fiscal 2024 to range between $3.70 and $3.95. -
Warner Bros Discovery Inc decreased 0.5% to $11.52 after the company said that the current strikes from writers and actors could negatively impact adjusted operating earnings between $300 million and $500 million.
The company provided the latest projections in a filing with the SEC.
The movie studio operator is expecting lower adjusted operating earnings for the full year in the range of $10.5 to $11 billion, reflecting impact from strikes.
The company revised higher its full-year free cash flow expectations to at least $5 billion and third quarter free cash flow of $1.7 billion, in part due to strong performance of Barbie. -
Signet Jewelers Ltd increased 5.3% to $75.27 after the retailer reported better-than-expected quarterly results.
Sales in the second quarter ending in July declined 8.1% to $1.6 billion and same store sales plunged 12% from a year ago.
Same store sales in North America declined 12.2% and nonstore sales, which includes online sales, rose 5.2%, resulting in a decline of 7.1% to $1.5 billion.
Net income attributable to common shareholders plunged to $66.5 million from $136.8 million and diluted earnings per share fell to $1.38 from $2.56 a year ago.
The retailer guided third quarter sales to decline to between $1.36 billion and $1.41 billion and full-year revenue between $7.1 billion and $7.3 billion and diluted earnings per share between $9.55 and $10.64. -
Five Below Inc declined 4.5% to $174.88 after the deep discount retailer forecasted weak third quarter results.
The retailer estimated third quarter revenue to fall between $715 million and $730 million and earnings per share between 17 cents and 25 cents, sharply lower than estimates set by some analysts.
Revenue in the second quarter increased 13.5% to $758.9 million from $668.9 million, reflecting comparable sales increase of 2.7% and comparable transactions advanced 4.5%.
Net income advanced to $48.6 million from $41.3 million and diluted earnings per share rose to 84 cents from 74 cents a year ago.
In the quarter, the company opened 43 new stores and ended the quarter with 1,407 stores, representing 12.4% increase in store count from a year ago.
The discount retailer forecasted full-year revenue in the range of $3.50 billion to $3.57 billion based on opening over 200 new stores and assuming an approximate 1% to 3% increase in comparable sales.
Net income is expected to be in the range of $295 million to $311 million and diluted income per common share in the range of $5.27 to $5.55 on approximately 55.9 million outstanding shares. -
Chewy Inc dropped 15.1% to $23.12 after the online pet food retailer said second quarter sales of $2.78 billion and diluted earnings per share of 4 cents.
The company said in a conference call with investors that active customers declined 0.6% to 20.4 million and customers are trading down amid high inflation.
Net sales for active customer increased 14.7% to $530 and auto customers sales increased 240 basis points to 75.5%.
Despite the customers substituting lower priced treats for pets, gross margin increased 20 basis points to 28.3%, indicating prudent promotional activities.
Net sales increased 14.3% to $2.78 billion and net income declined to $18.9 million from $22.3 million and diluted earnings per share fell to 4 cents from 5 cents a year ago.
Sep 5, 2023
Aug 31, 2023