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Jun 2, 2023
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MongoDB Inc soared 26.7% to $372.50 after the database developer reported higher-than-expected quarterly earnings and also estimated a surge in second quarter revenue.
Total revenue in the fiscal first quarter ending in April increased 29% to $368.3 million, driven by 29% jump in subscription revenue to $354.7 million and services revenue increase of 25% to $13.6 million.
Net loss increased to $54.3 million from $77.3 million and diluted earnings per share eased to 77 cents from $1.14 a year ago.
The company revised higher second quarter revenue between $388 million to $392 million and fiscal 2024 revenue between $1.522 billion to $1.542 billion. -
Five Below Inc increased 6.4% to $179.43 after the deep discount retailer reported higher-than-expected earnings but the company offered a cautious outlook for the second quarter.
Net sales in the first quarter ending in April increased 13% to 13.5% to $726.2 million from $639.6 million after comparable store sales rose 2.7%
Net income increased to $37.5 million from $32.7 million and diluted earnings per share increased to 67 cents from 59 cents a year ago.
The deep discount retailer guided fiscal second quarter net sales in the range of $755 million to $765 million based on opening approximately 40 new stores and assuming an approximate 2% to 3% increase in comparable sales.
Net income is expected to be in the range of $44 million to $48 million and diluted income per share in the range of $0.80 to $0.85 on approximately 55.9 million diluted weighted average shares outstanding. -
Lululemon Athletica Inc soared 14% to 374.35 after the Athletic apparel retailer reported sharply higher revenue and earnings and the company lifted its full-year outlook.
Revenue in the latest quarter jumped 24% to $2.0 billion or increased 27% on a constant dollar basis.
Total comparable sales increased 14%, and comparable store sales increased 13% and direct to consumer sales jumped 16%.
Net revenue increased 17% in North America, and increased 60% internationally.
Net income increased to $290.4 million from $190 million and diluted earnings per share rose to $2.28 from $1.48 a year ago.
For the second quarter, the company estimated net revenue to be in the range of $2.14 billion to $2.17 billion, representing growth of approximately 15%.
Diluted earnings per share are expected to be in the range of $2.47 to $2.52 for the quarter.
For 2023, the retailer expects net revenue to be in the range of $9.44 billion to $9.51 billion, representing growth of approximately 17%.
Diluted earnings per share are expected to be in the range of $11.74 to $11.94 for the year.
The company revised its full-year revenue from between $9.31 billion and $9.41 billion to between $9.44 billion and $9.51 billion. -
Broadcom Inc increased 2.4% to $808.81 after the advanced chipmaker exceeded revenue and earnings expectations.
Revenue in the fiscal second quarter ending in April increased 8% to $8.7 billion from $8.1 billion and net income increased to $3.5 billion from %2.6 billion and diluted earnings per share rose to $8.15 from $5.93 a year ago.
The company announced a dividend of $4.60 per share payable on June 30 to stockholders of record on June 22.
The company guided fiscal third quarter revenue of $8.85 billion and adjusted operating income of 65% of projected revenue. -
The U.S. economy added 339,000 jobs in May, and March and April data were revised higher, the U.S. Bureau of Labor Statistics reported Friday.
Despite the talks of job market slowdown and ongoing macroeconomic headwinds, payrolls in several sectors of the economy expanded at the elevated pace seen in the last twelve months.
Employers expanded payrolls in professional and business services, government, health care, construction, transportation and warehousing, and social assistance.
Job gains in May were in line with the monthly average of 341,000 over the last twelve months.
Professional and business services added 64,000, government at all levels increased 56,000, health care 52,000, leisure and hospitality 48,000, construction 25,000, warehousing 24,000 and social assistance 22,000. -
Nordstrom Inc increased 3% to $15.76 after the company reported better-than-expected quarterly results.
The company reaffirmed its revenue and adjusted financial outlook for fiscal 2023 and revenue is estimated to fall between 4% and 6%, including an approximately 250 basis point negative impact from the wind-down of Canadian operations and an approximately 130 basis point positive impact from the 53rd week in the current year.
Net sales declined 11.6% to $3.0 billion from $3.5 billion and the company swung to a loss of $205 million from a profit of $20 million and diluted earnings per share was ($1.27) compared to 13 cents a year ago. -
Salesforce Inc declined 5% to $212.38 after the company highlighted softness in large account sales activities.
Revenue in the first quarter ending in April increased 11% to $8.25 billion from $7.4 billion and net income jumped to $199 million from $28 million and diluted earnings per share advanced to 20 cents from 3 cents a year ago.
The company reiterated its full-year fiscal 2024 revenue to fall 10% to between $34.5 billion and $334.7 billion and GAAP earnings between $2.67 and $2.69.
The company estimated fiscal second quarter revenue range between $8.51 billion and $8.53 billion and GAAP earnings per share between 79 cents and 80 cents. -
Macy's Inc declined 4.8% to $12.94 after the company reported weak quarterly results and lowered its annual outlook citing macroeconomic headwinds.
Net sales in the quarter declined 7% to $4.98 billion from $5.4 billion and net income plunged to $155 million from $286 million and diluted earnings per share fell to 56 cents from 98 cents a a year ago.
Digital sales declined 8% and retail store sales fell 6% from a year ago.
Comparable store sales at locations owned by the company declined 7.9% and fell 7.2% including licensed sales.
The company lowered its full-year revenue estimate to between $22.8 billion from $23.2 billion from between $23.7 billion and $24.2 billion in the previous estimate. -
Dollar General Corp plunged 18.4% to $164.40 after the deep discount retailer lowered its same store sales in the current year to between 1% and 2% from the previous estimate between 3.0% and 3.5%.
The retailer also lowered its net sales growth estimate in the current year to between 3.5% and 5.0% from the previous estimate between 5.5% and 6.0%.
Net sales in the quarter increased 6.8% to $9.3 billion and net income declined to $514.8 million from $552.6 million and diluted earnings per share fell to $2.34 from $2.41 a year ago.
As of May 5, 2023, total merchandise inventories, at cost, were $7.3 billion compared to $6.1 billion as of April 29, 2022, an increase of 14.7% on a per-store basis.
This increase primarily reflects the impact of product cost inflation.
The company declared quarterly dividend of 59 cents a share, payable on or before July 25 to shareholders on record July 11. -
Chewy Inc soared 23.5% to $36.43 after the online retailer of pet foods reported better-than-expected quarterly results.
Net sales in the fiscal first quarter increased 14.7% to $2.78 billion and net income increased to $22.2 million from $18.5 million and diluted earnings per share rose to 5 cents from 4 cents a year ago.
Jun 1, 2023