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    • Breaking News
    Nov 20, 2024
    • Target Corp. plunged 19% to $127.35 after the discount retailer reported weaker-than-expected quarterly results and guided a cautious outlook.

      Total revenue in the fiscal third quarter ending on November 2 increased 1.1% to $25.66 billion from $25.39 billion, net income plunged 12.1% to $854 million from $971 million, and diluted earnings per share fell to $1.85 from $2.10 a year earlier.   

      The retailer forecast fourth quarter earnings per share between $1.85 and $2.45, sharply lower than the market expectation of at least $2.65, and full-year earnings per share between $8.30 and $8.90. 
      • Comcast increased 1.7% to $43.05 after The Wall Street Journal said the company is planning to spinoff NBCUniversal cable TV networks, which generates annual revenue of about $7 billion. 

        The company's cable network portfolio includes, among other properties, MSNBC, CNBC, E!, Golf Channel, and USA. 
        • Powell Industries dropped 14.2% to $268.0 after the custom power solution provider reported better-than-expected quarterly results, but new orders fell short of market expectations. 

          Fiscal fourth quarter revenue jumped 32%, earnings soared 74%, and new orders in the fiscal year fell to $1.1 billion from $1.4 in the previous year. 
          • Keysight Technologies soared 10.5% to $168.0 after the test equipment company reported better-than-expected fiscal-fourth quarter results. 

            Revenue declined 1.8% to $1.29 billion, net income swung to a loss of $73 million compared to a profit of $226 million, and diluted earnings per share were a loss of 42 cents compared to $1.28 a year earlier. 

            The company forecast first fiscal quarter 2025 revenue in the range of $1.265 billion to $1.285 billion, and Non-GAAP earnings per share between $1.65 and $1.71.    
            • Dolby Laboratories soared 11.5% to $81.19 after the audio and imaging technology provider reported better-than-expected quarterly earnings in the fiscal fourth quarter ending in September. 

              Revenue increased to $304.8 million from $290.5 million, net income advanced to $58.6 million from $9.2 million, and diluted earnings per share rose to 61 cents from 9 cents a year earlier. 
              • Delta Air Lines decreased 0.01% to $64.76 after the company reiterated its fourth quarter earnings per share to range between $1.60 and $1.85, and the carrier estimated fiscal 2025 capacity to increase between 3% and 4%. 
                • Nov 19, 2024
                • Super Micro Computer soared 27% to $27.48 after the company appointed BDO as its new independent auditor following the resignation of its previous auditor, Ernst & Young. 

                  The company also said it plans to file its annual report for the year ending on June 30 and its latest quarterly report ending on September 30. 
                  • Lowe's Companies declined 2.2% to $266.0 after the home improvement retailer reported better-than-expected quarterly results, but the company's negative outlook dampened investor sentiment. 

                    Net sales in the third quarter declined to $20.17 billion from $20.47 billion, and net income declined to $1.69 billion from $1.77 billion, and diluted earnings per share fell to $2.99 from $3.05 a year earlier. 

                    During the quarter, the company repurchased approximately 2.9 million shares for $758 million, and it paid $654 million in dividends. 

                    The company estimated total annual sales in the fiscal year 2024 to range between $83 billion and $83.5 billion, compared to its previous range between $82.7 billion and $83.2 billion. 

                    Comparable same-store sales are estimated to decline between 3% and 3.5%, compared to the previous estimate of a decline between 3.5% and 4.0%. 
                    • Walmart increased 3.7% to $87.16 after the retailer reported better-than-expected quarterly results and revised its annual outlook. 

                      The retailer boosted its annual sales estimate to a new range between 4.8% and 5.1%, from the previous estimate between 3.75% and 4.75%. 

                      Consolidated revenue in the third quarter increased 5.5% to $169.6 billion, net income advanced to $4.6 billion from $453 million, and net income rose to 57 cents from 6 cents a year ago. 

                      The retailer said it repurchased 46 million shares for $3 billion in the year so far, as part of its $20 billion stock buyback plan. 

                      The company said sales at its U.S. locations increased 5.5% to $114.9 billion, reflecting broad strength as more customers look for products beyond its grocery aisles. 

                      E-commerce sales in the U.S. rose 22%, led by store-fulfilled pickup & delivery, advertising revenue, and marketplace activities. 
                      • Nov 7, 2024
                      • Lyft jumped 26% to $18.23 after the company reported its quarterly results and issued a stronger than-expected outlook. 

                        Revenue in the third quarter increased to $1.5 billion from $1.15 billion, net loss expanded to $12.5 billion from $12.1 billion, and diluted earnings per share were unchanged at 3 cents per share. 

                        Gross booking rose 16% to $4.1 billion from $3.55 billion, and active riders increased to 24.4 million from 22.4 million a year ago, respectively. 

                        The ride-hailing company is now forecasting fourth quarter bookings of $4.28 billion and $4.32 billion, an increase between 15% and 17% from a year ago. The company also estimated adjusted operating earnings between $100 and $105 million in the next quarter.

                        For the full-year 2024, the company estimated annual booking growth of 17% and annual number of rides growth in the mid-teens.