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    • Breaking News
    Dec 3, 2024
    • Tesla Inc. declined 1.9% to $350.25, and a Delaware judge upheld the previous judgment to deny chief executive Elon Musk the right to receive a pay package worth $56 billion in 2018. 

      Following the previous judgment issued by Chancellor Kathleen McCormick in January, Tesla moved its incorporation to Texas from Delaware and ratified the annual pay plan through a shareholder vote in June. 

      Tesla sought Chancellor Kathleen to reverse her opinion after the shareholder vote. 

      “Were the court to condone the practice of allowing defeated parties to create new facts for the purpose of revising judgments, lawsuits would become interminable,” wrote McCormick in a judgment released on Monday. 

      Tesla said on a social media platform, X, it plans to appeal the decision. 
      • U.S. Steel declined 5.5% to $38.70 after President-elect Donald Trump said he plans to block the company's purchase by Japan's Nippon Steel. 

        Nippon Steel has agreed to pay $14 billion, and the company has committed to keeping most of the employees on the payroll after the acquisition. 
        • Credo Technology Group soared 33.5% to $64.01 after the high-speed connectivity solutions provider reported fiscal second quarter results. 

          Revenue in the quarter ending on November 2 increased 63.6% to $72 million from $59.7 million, net loss shrank to $4.2 million from $9.4 million, and diluted loss per share eased to 3 cents from 6 cents a year ago. 
          • Zscaler declined 5.4% to $197.25 after the company's fiscal second quarter outlook fell short of market expectations. 

            Revenue in the fiscal first quarter ending in October rose 26% to $628 million from $496.7 million, net loss shrank to $12 million from $33.5 million, and diluted loss per share eased to 8 cents from 23 cents a year ago. 

            The company estimated revenue in the fiscal 2025 second quarter to range between $633 million and $635 million and adjusted earnings per share between 68 cents and 69 cents. 

            For the full year 2025, the company estimated revenue between $2.623 billion and $2.643 billion and adjusted earnings per share to range between $2.94 and $2.99. 
            • Nov 27, 2024
            • Workday Inc. plunged 12% to $238.0 after the human resource software company estimated lower-than-expected revenue and operating margin in the fourth quarter. 

              The software company estimated subscription revenue of $2.025 billion and an operating margin of 25% in the period. 

              Revenue in the fiscal third quarter ending in September increased 15.8% to $2.1 billion from $1.8 billion, net income advanced to $193 million from $114 million, and diluted earnings per share rose to 72 cents from 43 cents a year ago. 

              Workday repurchased approximately 0.6 million shares of Class A common stock for $157 million as part of its share repurchase programs.
              • Dell Technologies declined 12.8% to $124.32 after the company posted weaker-than-expected fiscal third quarter results. 

                Revenue in the third quarter ending on November 1 increased 10% to $24.4 billion from $22.3 billion, net income advanced 12% to $1.1 billion from $1.0 billion, and diluted earnings per share rose 16% to $1.58 from $1.36 a year earlier. 

                “AI is a robust opportunity for us with no signs of slowing down,” said Jeff Clarke, vice chairman and  chief operating officer, Dell Technologies. 

                “Interest in our portfolio is at an all-time high, driving record  AI server orders demand of $3.6 billion in Q3 and a pipeline that grew more than 50%, with growth across  all customer types.” 
                • HP Inc. dropped 7.7% to $36.09 after the personal computing company estimated weaker-than-expected adjusted earnings in the fiscal 2025 first quarter.

                  The company estimated fiscal 2025 first quarter diluted earnings per share between 57 cents and 63 cents and for the full-year fiscal 2025 between $3.06 and $3.36. 

                  The company estimated adjusted earnings between 70 cents and 76 cents, sharply lower than as much as 83 cents estimated by some analysts. 

                  Net revenue increased 1.7% to $14.1 billion from $13.8 billion, net income decreased 7% to $0.9 billion from $1 billion, and diluted earnings per share fell 4% to 93 cents from 97 cents a year ago. 

                  HP returned $1.2 billion to shareholders in the fourth quarter, including $900 million to repurchase 25.4 million of its own stock and $263 million in dividend payment of 27.56 cents per share.  
                  • Nov 26, 2024
                  • Dick's Sporting Goods jumped 8.4% to $233.24 after the outdoor goods retailer posed strong third quarter earnings and lifted its annual outlook, driven by demand improvement during the back-to-school shopping season. 

                    Revenue in the fiscal third quarter ending on November 2 increased 0.5% to $3.06 billion from $3.04 billion, net income advanced 13% to $228 million from $201 million, and diluted earnings per share rose 15% to $2.75 from $2.39 a year earlier. 

                    Comparable same-store sales in the quarter accelerated to 4.2% from 1.9% a year ago, and the company raised comparable sales growth guidance for the full-year to a range of 3.6% to 4.2% from the previous range between $2.5% and 3.5%. 

                    The company also raised full year 2024 earnings per diluted share guidance to a range of $13.65 to 13.95, up from the previously estimated range between $13.55 to 13.90. 
                    • Best Buy Company declined 5.4% to $88.0 after the consumer electronics retailer reported weaker-than-estimated revenue and earnings in the third quarter.

                      Revenue in the fiscal third quarter ending on November 2 declined to $9.44 billion from $9.75 billion, net income increased to $273 million from $263 million, and diluted earnings per share rose to $1.26 from $1.21 a year earlier. 

                      Comparable domestic same-store store sales declined to 2.8% from 7.3%, and the retailer adjusted its full-year comparable sales estimate to decline in the range of 2.5% and 3.% from the previous estimated range of decline between 3.0% and 1.5%. 

                      The company also lowered its full-year sales range to between $41.1 billion and $41.5 billion, from the previous guidance between $41.3 billion and $41.9 billion. 
                      • Nov 25, 2024
                      • Bath & Body Works jumped 14.5% to $34.65 after the specialty retailer reported better-than-expected results in the third quarter. 

                        Revenue in the fiscal third quarter, with 13 weeks ending on November 2, increased 3% to $1.61 billion from $1.56 billion, net income declined to $106 million from $119 million, and diluted earnings per share dropped to 49 cents from 52 cents a year ago. 

                        The company estimated the fourth quarter 2024 net sales to decline between 4.5% and 6.5% from $2.91 billion a year ago, largely because of a shift in calendar. 

                        Fourth quarter net sales are likely to be negatively impacted by 500 basis points because of the extra one week in the quarter a year ago. 

                        Fourth quarter earnings per diluted share are expected to be between $1.94 and $2.07, compared to $2.55 in the fourth quarter 2023 and adjusted earnings per diluted share of $2.06 in the fourth quarter 2023.