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    • Breaking News
    Dec 12, 2024
    • Chewy Inc. decreased 3.3% to $31.44 after the company announced a fully underwritten stock offering of $500 million by a key shareholder. 

      Buddy Chester Sub LLC will receive all proceeds from the offering, and concurrently Chewy said it plans to acquire $50 million of its share directly from the investor. 
      • Adobe Inc. dropped 10.6% to $491.50 after the software company issued a weaker-than-expected revenue outlook for the fiscal first quarter. 

        Total revenue in the fiscal fourth quarter ending in November increased to $5.6 million from $5.0 million, net income rose to $1.68 million from $1.48 million, and diluted earnings per share advanced to $3.79 from $3.23 a year earlier. 

        The company estimated fiscal first quarter revenue to range between $5.63 billion and $5.68 billion and earnings per share between $3.85 and $3.89. 
        • Dec 11, 2024
        • General Motors advanced 0.7% to $53.55 after the company canceled its plan to stop funding self-driving technology by car company Cruise. 

           

           
          • Uber Technologies rose 3% to $63.03, and investors worried about the company's alliance with General Motors after the vehicle maker scrapped its plans to continue to fund the robotaxi venture Cruise. 

            Cruise has a multi-year contract with Uber to introduce autonomous vehicles on the Uber platform; however, after the GM's announcement, the future of that contract is in doubt. 
            • GE Vernova Inc. increased 2.7% to $336.37 after the company released its full-year outlook for 2024 and 2025. 

              The company estimated revenue in 2024 closer to the upper end of its range between $34 billion and $35 billion and in 2025 to range between $36 billion and $37 billion. 

              Free cash flow in 2024 is expected to trend closer to the range between $1.3 billion and $1.7 billion and in 2025 to range between $2.0 billion and $2.5 billion. 
              • GEV
              • Macy's declined 10.5% to $14.92 after the department store chain cut its full-year earnings estimate. 

                The company lowered its adjusted earnings per share to range between $2.25 and $2.50 from the previous estimate between $2.55 and $2.90. 

                However, the company revised its full-year sales to fall between $22.3 billion and $22.5 billion from the previous estimate between $22.1 billion and $22.4 billion. 
                • Dave & Buster's Entertainment plunged 16.7% to $30.77 after the arcade and dining venue operator reported a loss and announced the departure of the company's chief executive. 

                  Revenue in the third quarter decreased 3% to $453 million, driven by a 7% decline in comparable sales from a year ago. 

                  Net loss expanded to $32.7 million from $5.2 million, and diluted earnings per share rose to 84 cents from 12 cents a year ago, respectively. 

                  The company's chief executive, Chris Morris, has resigned, and the current chairman of the board, Kevin Sheehan, is acting as the interim chief executive until a permanent chief executive has been appointed. 

                  During the third quarter, the company repurchased $28 million of shares, bringing its total repurchases year to date to $88 million, representing 2 million shares or 5.1% of the outstanding shares as of the end of fiscal 2023. 

                  The company has $112 million remaining on its share repurchase authorization. 
                  • Dec 10, 2024
                  • Oracle Corp. dropped 6.5% to $178.06 after the database developer and cloud services provider reported strong revenue growth in the fiscal second quarter, but earnings fell short of expectations. 

                    Total revenue in the quarter increased 9% to $14.1 billion, driven by a 24% surge in cloud service revenue of $5.9 billion. 

                    Net income jumped 26% to $3.2 billion from $2.5 billion, and diluted earnings per share advanced to $1.10 from 89 cents a year ago. 

                    The company's board of directors declared a cash dividend of 40 cents per share payable on January 23 to shareholders on record on January 9. 
                    • MongoDB declined 7.4% to $325.50 after the database developer lifted its outlook for the fourth quarter. 

                      Total revenue in the third quarter increased 22% to $529.4 million, net loss shrank to $9.8 million from $29.3 million, and diluted loss per share eased to 13 cents from 41 cents a year ago. 

                      The company estimated fourth quarter revenue to range between $515 million and $519 million, adjusted operating income between $55 million and $58 million, and adjusted earnings per share between 62 cents and 65 cents. 
                      • Vail Resorts jumped 4% to $198.50 after the ski resort operator reported quarterly results. 

                        Revenue in the fiscal first quarter ending in October increased to $260.3 million from $258.6 million, net loss shrank to $172.8 million from $175.5 million, and diluted loss per share edged up to $4.61 from $4.60 a year ago. 

                        For the fiscal year 2025, the company revised its estimate of operating earnings to range between $240 million and $316 million from $224 million to $300 million. 

                        The company declared a cash dividend of $2.22 per share, payable on January 9 to shareholders on record on December 26.