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    • Breaking News
    May 31, 2023
    • Advance Auto Parts, Inc plunged 30.50% to $78.30 after the auto parts retailer reported a sharp decline in earnings, cut its dividend and lowered its full-year estimate. 

      Net sales in the first quarter increased 1.3% to $3.4 billion, driven by new store openings and partially offset by a 0.4% decline in comparable store sales. 

      Net income plunged to $42.6 million from $129.8 million and diluted earnings per share fell to 72 cents from $2.26 a year ago. 

      The specialty retailer announced a quarterly dividend of 25 cents per share compared to $1.50 in the previous quarter. 

      The retailer lowered its estimate of new store openings from between 60 and 80 to between 40 and 60 in the current fiscal year. 

      The company also slashed its annual earnings per share estimate between $6.0 and $6.50 from the previous outlook between $10.20 and $11.20.  
      • American Airlines Group Inc increased 1.8% to $14.88 after the international airline lifted its earnings outlook and revised higher operating margin. 

        The airline revised higher second quarter earnings per share between $1.45 and $1.65 from the previously estimated range between $1.20 and $1.40. 

        The company revised higher its margin estimate from between 11% and 13% to between 12.5% and 14.5%. 
        • Hewlett Packard Enterprise dropped 6.3% to $14.56 after the company announced mixed quarterly results. 

          Sales in the fiscal second quarter ending in April increased 4% to $6.97 billion and net income increased to $418 million from $250 million and diluted earnings per share rose to 32 cents from 19 cents a year ago. 

          The company declared a regular cash dividend of 12 cents a share to shareholders on record on June 15 payable on July 14. 

          The company guided fiscal third quarter revenue between $6.7 billion and $7.2 billion and diluted earnings per share between 34 cents and 38 cents. 

          The company estimated full-year revenue growth in constant currency between 4% and 6% and revised higher diluted earnings per share between $1.42 and $1.50.  
          • Yatra Online Inc increased 3.8% to $2.06 after the company reported a rebound in travel sales in India. 

            Revenue in the March quarter increased 97.4% to  ₹1.2 billion and the company swung to a profit of ₹7.5 million from a loss of ₹117.2 million a year ago. 

            For the fiscal year ending in March 2023, revenue increased 92.4% to ₹3.8 billion and loss shrank to ₹288.2 million from ₹482.5 million a year ago. 

            In the year, air passengers booked jumped 51% to 5.6 million from 3.7 million and hotel room nights books soared 72% to 1.7 million from 1.0 million a year ago. 
            • HP Inc declined 4.6% to $29.50 after the computer and advanced systems maker reported weaker than expected results. 

              Revenue in the fiscal second quarter ending in April dropped 21.7% to $12.9 billion from $16.5 billion and net income increased 7% to $1.07 billion from $1.0 billion and diluted earnings per share rose to $1.07 from 94 cents a year ago. 

              For the fiscal third quarter, the company estimated diluted earnings per share between 61 cents and 71 cents and for the fiscal year 2023 between $2.91 and $3.11. 
              • May 26, 2023
              • News Corp increased 6.0% to $17.75 after the media company reported higher-than-expected quarterly revenue. 

                Revenue in the March quarter declined 2% to $2.45 billion from $2.49 billion, reflecting 4% negative impact from foreign currency fluctuations. 

                Net income in the quarter declined to $59 million from $104 million and diluted earnings per share dropped to 9 cents from 14 cents a year ago. 

                Revenue in the Dow Jones segment increased 9% to $529 million, digital real estate services which includes Realtor.com declined 13% to $363 million and book publishing which includes Harper Collins was flat at $515 million. 

                Broadcast media residential subscribers declined to 1.37 million from 1.52 million and commercial subscribers fell to 233,000 from 240,000 a year ago. 

                During the third quarter, total average subscriptions to Dow Jones’ consumer products increased 6% to 5.1 million and digital-only subscriptions to Dow Jones’ consumer products grew 10%. 

                Total subscriptions to The Wall Street Journal rose 5% compared to the prior year, to nearly 3.9 million average subscriptions in the quarter.

                Digital-only subscriptions to The Wall Street Journal increased 9% to 3.3 million average subscriptions in the quarter, and represented 85% of total Wall Street Journal subscriptions.

                 
                • Costco Wholesale Corporation declined 0.3% to  $485.31 after the retailer reported mixed quarterly results. 

                  Net sales in the fiscal third quarter ending in May increased 1.9% to $52.6 billion from $51.6 billion and comparable sales at the U.S. stores excluding gasoline sales increased 1.8%. 

                  Total comparable sales across all regions, excluding gasoline sales, increased 3.5% and e-commerce sales declined 9.0%. 

                  Net income attributable to shareholders decreased to $1.3 billion from $1.35 billion and diluted earnings per share fell to $2.93 from $3.04 a year ago.   
                  • Ulta Beauty plunged 11.3% to $431.17 despite the company reporting higher revenue and earnings in the first quarter. 

                    Net sales in the first quarter increased 12.3% to $2.6 billion from $2.3 billion and comparable sales slowed to 9.1% from 18.0% a year ago. Net income increased to $347.1 million from $331.4 million and diluted earnings per share rose to $6.88 from $6.30 a year ago. 

                    The retailer lifted its full year sales outlook slightly and reiterated its earnings per share. 

                    Full year 2023 sales range was revised higher to $11.0 billion from $11.1 billion from the previous range between $10.95 and $11.05 billion. The company reiterated its comparable sales growth range between 4% and 5% and diluted earnings per share between $24.70 and $25.40. 
                    • RH declined 5.4% to  $240.86 after the home improvement retailer reported better-than-expected sales and earnings in the fiscal first quarter. 

                      Revenue in the first quarter declined to $739 m.1illion from $957.3 million  and net income fell to $41.9 million from $200.7 million and diluted earnings per share fell to $1.76 from $7.22 a year ago. 

                      However, the retailer estimated higher-than-expected markdowns "to clear discontinued inventory" in the second quarter and estimated weaker-than-expected fiscal second quarter revenue.  

                      The retailer raised revenue outlook for fiscal 2023 to a range of $3.0 to $3.1 billion and lowered outlook for adjusted operating  margin to a range of 14.5% to 15.5%, which includes an approximate 150 basis point drag due to the ramp up of global  expansion. 
                      • Marvell Technology Inc soared 23.7% to $61.45 after the advanced semiconductor company delivered first quarter results ahead of expectations and said second quarter sales are expected to accelerate.

                        Revenue in the fiscal first quarter ending in April declined 9% to $1.32 billion and net loss increased to $168.9 million from $165.7 million and diluted loss per share was flat at 20 cents from a year ago. 

                        The company estimated second quarter revenue of $1.33 billion with a band of 5% and gross margin between 44.3% and 46.8%.