Breaking News
May 13, 2024
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Intel Corp. advanced 1% to $30.17 after private equity investor Apollo Global and the company are in advanced talks to build a manufacturing facility in Ireland.
Apollo is likely to invest $11 billion in the manufacturing facility, the Wall Street Journal reported Monday.
Intel is in the midst of a $100 billion investment spree as the company plays catch-up with Taiwan Semiconductor and diversifies its business model to provide foundry services to other fabless chip makers. -
Akamai Technologies decreased 9.1% to $94.06 after the internet infrastructure company estimated weaker-than-expected second quarter earnings.
Revenue in the first quarter increased 8% to $987 million from $915.7 million, net income rose to $175.4 million from $97.1 million, and diluted earnings per share advanced to $1.11 from 62 cents a year ago.
The company estimated a second-quarter revenue range between $967 million and $986 million and full-year revenue between $3.95 billion and $4.02 billion. -
Array Technologies rose 2.9% to $12.88 after the company reported better-than-expected adjusted earnings.
Revenue in the first quarter decreased to $153.4 million from $376.8 million, net income swung to a loss of $11.3 million from $17.2 million, and diluted earnings per share were a loss of 7 cents compared to a profit of 11 cents a year ago.
The company reaffirmed its annual revenue range of $1.25 billion to $1.4 billion and adjusted earnings per share to range between $1.0 and $1.15 billion. -
Novavax soared 124% to $10.02 after the company announced a multi-billion-dollar deal with Sanofi to co-commercialize its COVID vaccine starting as early as 2025.
Sanofi agreed to pay Novavax an upfront licensing fee of $500 million and an additional fee of $700 million based on reaching certain milestones. -
Sweetgreen soared 39% to $32.95 after the salad chain reported higher-than-expected revenue in the first quarter.
Revenue in the first quarter increased by 26% to $157.9 million from $125.1 million, driven by the same store sales increase of 5% from a year ago.
Net loss in the quarter decreased to $26.1 million from $33.6 million, and diluted loss per share fell to 23 cents from 30 cents a year ago. -
Apple Inc. soared 6% to $183.44 after the maker of popular iPhone devices reported better-than-expected sales and earnings in its fiscal second quarter.
Revenue in the fiscal second quarter ending in March declined to $90.7 billion from $94.8 billion, net income fell to $23.6 billion from $24.2 billion, and diluted earnings per share increased to $1.53 from $1.52 a year ago.
Net sales in the Americas declined to $37.3 billion from $37.8 billion; in the European Union, they rose to $24.1 billion from $23.9 billion; in Greater China, they decreased to $16.3 billion from $17.8 billion; in Japan, they fell to $6.2 billion from $7.2 billion; and in the rest of Asia Pacific, they eased to $6.7 billion from $8.2 billion a year ago, respectively.
The company's board of directors increased its quarterly cash dividend by 4% to 25 cents per share, payable on May 16 to shareholders on record on May 13.
The company also announced a whopping $110 billion stock repurchase plan. -
DoorDash plunged 9.9% to $114.80 after the food delivery company reported a wider-than-expected loss in its latest quarter.
Revenue increased 23% to $2.5 billion from $2.05 billion, net loss attributable to shareholders shrank to $25 million from $161 million, and diluted loss per share fell to 6 cents from 41 cents a year ago.
In the first quarter, total orders increased by 21% to 620 million, and gross sales volume rose by 21% to $19.2 billion, driven in part by a more than 100% increase in the new vertical, grocery delivery.
Free cash flow increased to $487 million from $316 million, and operating cash flow rose to $553 million from $397 million a year ago. -
eBay Inc. declined 3.8% to $49.11 after the online marketplace operator estimated weaker-than-expected revenue in the current quarter.
Revenue in the first quarter increased 2% to $2.55 billion from $2.51 billion, net income declined 23% to $439 million from $569 million, and diluted earnings per share dropped to 85 cents from $1.05 a year ago.
The company estimated second-quarter revenue in the range of $2.49 billion and $2.54 billion, an increase between -1% and +1%.
The online marketplace operator estimated second-quarter diluted earnings per share between 76 cents and 81 cents. -
Wayfair Inc. advanced 7.5% to $54.31 after the online furniture retailer reported a narrower loss in its latest quarter, partly driven by layoffs.
Total net revenue in the first quarter declined 1.6% to $2.72 billion from $2.77 billion, net loss shrank to $248 million from $355 million, and diluted loss per share eased to $2.06 from $3.22 a year ago.
Active customers in the first quarter increased by 2.8% from a year ago to 22.3 million.
The company processed 9.6 million orders in the quarter, a decline of 1%, and repeat customers placed 7.7 million, an increase of 1.3% from a year ago, respectively.
The average order value in the first quarter decreased to $285 from $287 in the corresponding period a year ago. -
Carvana soared 35% to $118.0 after the automotive retailer reported higher-than-expected revenue in the first quarter.
Net sales in the first quarter rose to $3.06 billion from $2.60 billion, net income attributable to shareholders swung to a profit of $28 million from a loss of $160 million, and diluted earnings per share were 23 cents from a loss of $1.51 a year ago.
Vehicles sold in the first quarter rose 16% from a year ago to 91,878, and gross profit jumped to 19.3%.
Gross per unit in the first quarter jumped to $6,802 from $6,432 a year ago.
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