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    May 22, 2024
    • Urban Outfitters rose 4.2% to $43.0 after the apparel retailer reported better-than-expected sales and earnings in its latest quarter. 

      Comparable retail sales increased 4.6%, driven by high single-digit positive sales growth in online sales and low single-digit positive growth in retail store sales. 

      Revenue in the first quarter increased 7.6% to record $1.2 billion from $1.11 billion, net income advanced to $61.76 million from $52.8 million, and diluted earnings per share rose to 65 cents from 56 cents a year ago. 

      The company did not purchase its shares in the first quarter ending in April 2024 and in the year ending in January 2024, and 19.2 million of the authorized 20.0 million shares are still available under its stock repurchase program. 
      • Toll Brothers decreased 0.5% to $129.50 after the luxury home builder's quarterly results surpassed market expectations and the company raised its full-year outlook. 

        Total fiscal second quarter revenue increased to $2.8 billion from $2.5 billion, net income rose to $481.6 million from $320.2 million, and diluted earnings per share advanced to $4.55 from $2.85 a year ago. 

        At the end of the fiscal second quarter in April, the backlog value of homes declined 12% to $7.4 billion, and the backlog of homes fell 6% to 7,093. 

        The company raised its estimate of home deliveries in the fiscal third quarter to 2,850 from 2,750 and in the fiscal year to 10,800 from 10,400. 

        In the quarter, Toll Brothers repurchased approximately 1.5 million shares at an average price of $120.60 per share, for a total purchase price of approximately $181.2 million.

        On March 12, the company also hiked its cash dividend by 10% to 23 cents per share, which was paid on April 19 to shareholders on record on April 5. 
        • Analog Devices increased 5.4% to $228.32 after the company reported better-than-expected quarterly results in the fiscal second quarter ending in April.

          Revenue in the quarter decreased 34% to $2.2 billion from $3.3 billion, net income decreased to $302.2 million from $977.6 million, and diluted earnings per share fell to 61 cents from $1.92 a year ago. 

          The company's board of directors declared a quarterly cash dividend of 92 cents per share payable on June 17 to shareholders of record at the close of June 4. 

          The company estimated fiscal third quarter revenue of $2.27 billion with a band of $100 million, an increase of 20.1% from a year ago. 

          The company also estimated earnings per share of 70 cents with a band of 10 cents and adjusted earnings per share of $1.50 with a band of 10 cents. 
          • May 21, 2024
          • Macy's Inc. gained 0.1% to $19.13 after the department store chain reported better-than-expected quarterly results.

            Net sales in the first quarter declined 2.7% to $4.84 billion from $4.98 billion, net income dropped to $62 million from $155 million, and diluted earnings per share fell to 22 cents from 55 cents a year ago. 

            The retailer tightened its annual sales range to between $22.3 billion and $22.9 billion from the previous estimate of between $22.2 billion and $22.9 billion. 

            The company also lifted its adjusted diluted earnings per share range to between $2.55 and $2.90 from the $2.45 and $2.85 range released on February 27. 
            • AutoZone declined 1.8% to $2,875.78 after the specialty retainer reported mixed results in the fiscal third quarter. 

              Revenue in the third quarter increased 3.5% to $4.2 billion from $4.1 billion, net income advanced to $651.7 million from $647.7 million, and diluted earnings per share increased to $36.69 from $34.12 a year ago. 

              Total comparable same-store sales rose 1.9%, driven by an 18.1% sales increase at international stores and flat sales at domestic stores. 

              The company repurchased 242,000 of its own shares at an average price per share of $3,036, for a total of $734.7 million. The company still had $1.4 billion available at the end of the fiscal third quarter. 
              • Lowe's Companies decreased 1.8% to $225.04 after the home improvement retailer said comparable store sales declined 4.1% in the first quarter. 

                The retailer reported better-than-expected quarterly results. 

                Total sales in the first quarter declined to $21.4 billion from $22.3 billion, net income dropped to $1.8 billion from $2.26 billion, and diluted earnings per share declined to $3.06 from $3.77 a year ago. 

                Earnings in the quarter a year ago included gains from the sale of Canadian retail operations; after adjusting for the sale, earnings were $3.67 a share. 

                The retailer declared a dividend of $1.10, compared to $1.05 a year ago. 

                The company estimated annual sales between $84 billion and $85 billion, comparable sales to fall between 2% and 3%, and diluted earnings per share between $12.0 and $12.30. 
                • Palo Alto Networks declined 4.8% to $308.21 after the cybersecurity company reported better-than-expected quarterly earnings, but the company's guidance for the current quarter fell short of market expectations. 

                  Revenue in the fiscal third quarter ending in April rose 15% to $2.0 billion from $1.7 billion, net income soared to $278.8 million from $107.8 million, and diluted earnings per share advanced to 79 cents from 31 cents a year ago. 

                  The company guided revenue in the fourth quarter to rise to between $2.15 billion and $2.17 billion, an increase between 9% and 11% from a year ago. 

                  The company revised its annual revenue estimate to between $7.99 billion and $8.01 billion, an increase of 16% from a year ago. 
                  • May 16, 2024
                  • Cisco Systems jumped 3.2% to $51.24 after the networking gear maker reported better-than-estimated fiscal third quarter earnings. 

                    Revenue declined 13% to $12.7 billion from $14.6 billion, net income plunged 41% to $1.9 billion from $3.2 billion, and diluted earnings per share declined to 46 cents from 78 cents a year ago. 

                    Product revenue in the quarter declined by 19%, service revenue rose by 6% in the quarter.

                    The company completed the acquisition of Splunk in the quarter, and Splunk contributed $413 million in revenue. 

                    The company declared a 40-cent per share cash dividend to shareholders on record on July 5 to be repaid on July 24. 
                    • Deere & Co. decreased 5.8% to $390.0 after the farm equipment maker lowered its annual earnings outlook. 

                      The agriculture equipment maker reported better-than-expected quarterly results and lowered its annual earnings outlook to $7 billion from the previous estimate between $7.50 and $7.75 billion. 

                      Revenue in the quarter decreased 12% to $15.3 million from $17.4 million, net income declined to $2.37 billion from $2.86 billion, and diluted earnings per share fell to 8.53 from $9.65 a year ago. 
                      • Walmart Inc. increased 5.6% to $63.05 after the retail giant reported better-than-expected fiscal first-quarter results. 

                        Total revenue in the first quarter increased 6% to $161.5 million from $152.3 million, net income soared 205% to $5.1 billion from $1.7 billion, and diluted earnings per share advanced to 63 cents from 21 cents a year ago.