Breaking News
May 24, 2023
  • Zoom Video Communications Inc declined for the second day in a row and fell to $64.26 after the company reported higher sales but a sharp plunge in earnings. 

    Earnings in the first quarter declined to $15.44 million from $113.66 million and diluted earnings per share plunged to 5 cents from 37 cents a year ago. 
  • May 19, 2023
    • Foot Locker Inc plunged 24.1% to $24.55 after the specialty  retailer reported weaker-than-expected sales and earnings in the first quarter. 

      The athleticwear maker reported first quarter sales declined 11.4% to $11.9 billion after comparable store sales declined 9.1% on macroeconomic headwinds. 

      Gross margin declined 400 basis points from a year ago, driven by a combination of higher markdowns, and store closings, as well as an increase in theft related shrink.

      Net income declined to $36 million from $133 million and diluted earnings per share fell to 38 cents from $1.33 a year ago. 

      In the quarter, the retailer paid 40 cents a share dividend or $38 million and the company's board approved 40 cents a share dividend payable on July 28 to shareholders on record July 14. 

      The company lowered its annual revenue decline forecast between 6.5% and 8.0% from the previous estimate between 3.5% and 5.5% and revised lower comparable sales decrease outlook between 7.5% and 9.0% from 3.5% to 5.5%.  

      During the first quarter, the company opened 13 new stores, remodeled, or relocated 18 stores, and closed 35 stores and operated 2,692 stores in 29 countries in North America, Europe, Asia, Australia, and New Zealand. 

      In addition, 163  franchised stores were operating in the Middle East and Asia. 
      • Deere & Company increased 3.3% to $382.83 after the agriculture equipment maker reported better-than-expected quarterly results. 

        Revenue in the fiscal second quarter ending in April increased 30% to $17.4 billion from $13.4 billion and net income advanced to $2.1 billion from $2.1 billion and diluted earnings per share rose to $9.65 from $6.81 a year ago. 

        The company revised higher full-year net income between $9.25 billion and $9.50 billion with cash flow from equipment operations expected to be between $10.0 billion and $10.50 billion.
        • Farfetch Ltd soared 26.1% to $5.46 after the online fashion platform reported higher-than-expected quarterly results. 

          Revenue in the first quarter increased 8% to $476.2 million from $435.9 million and the company swung to a profit of $728.8 million from a loss of $174.3 million and diluted loss per share shrank to 37 cents from 43 cents a year ago. 
          • Applied Materials, Inc fell 2.7% to $126.36 after the semiconductor equipment maker reported mixed quarterly results. 

            Revenue in the fiscal second quarter ending in April increased 6% to $6.6 billion and gross margin of 46.7%. 

            Net income increased 3% to $1.57 billion from $1.53 billion and diluted earnings per share increased to $1.84 from $1.74 a year ago. 
          • May 18, 2023
            • Bath & Body Works Inc soared 12.5% to $38.32 after the specialty retailer reported higher-than-expected revenue and earnings in its latest quarter. 

              Revenue in the first quarter declined 4% to $1.39 billion from $1.45 billion and net income declined to $81 million from $155 million and diluted earnings per share fell to 35 cents from 64 cents a year ago. 

              The company forecasted fiscal 2023 sales between flat and decrease in mid-single digit decline from $7.5 billion in 2022 and diluted earnings per share between $2.70 and $3.10 compared to $3.40 a year ago. 
              • Cisco Systems Inc declined 4.2% after the networking gear maker reported better-than-expected revenue and earnings in the fiscal third quarter. 

                Revenue increased 14% to $14.6 billion and net income increased to $3.2 billion from $2.6 billion and diluted earnings per share rose to 78 cents from 65 cents a year ago.  
                • Synopsys Inc increased 2.7% to $387.48 after the electronic design automation software developer reported quarterly results that were ahead of expectations. 

                  Revenue in the fiscal second quarter ending in April increased to $1.40 billion from $1.28 billion a year ago. 

                  Net income in the quarter decreased to $269.9 million from $293.8 million and diluted earnings per share fell to $1.76 from $1.89 a year ago. 

                  The company forecasted revenue in the fiscal third quarter ending in July between $1.465 billion and $1.495 billion and earnings per share between $1.88 and $1.99. 
                  • Take Two Interactive Software, Inc soared 12.8% to $141.0 after the videogame developer reported higher-than-expected revenue in the fiscal fourth quarter. 

                    Revenue in the fourth quarter ending in March increased 56% to $1.45 billion from $930 million and the company swung to a net loss of $610.3 million from a profit of $110.9 million and diluted earnings per share was ($3.62) from 96 cents a year ago. 

                    The company forecasted net revenue in the fiscal year 2024 between $5.37 billion and $5.47 billion and net loss range from $518 million to $477 million and net loss per share between $3.05 and $2.80.   
                    • Walmart Inc increased 1.9% to $151.45 after the retailer said revenue in the first quarter increased 7.6% to $152.3 billion. 

                      U.S. comparable same store sales increased 7.4%, driven by 2.9% increase in number of transactions and 4.4% rise in average ticket size. 

                      Net income in the quarter decreased 18.5% to $1.7 billion from $2.1 billion and diluted earnings per share declined to 62 cents from 74 cents a year ago. 

                      The company forecasted consolidated store sales to increase 4.0% in the second quarter and 3.5% in the fiscal year 2024.