Breaking News
Dec 8, 2023
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Nonfarm payrolls increased 199,000 in November, following the 150,000 job gains in October, the U.S. Bureau of Labor Statistics reported Friday.
September job gains were downwardly revised by 35,000 to 262,000, and October job gains were unrevised.
Average hourly earnings, an indicator of wage inflation, rose 12 cents, or 0.4%, in the month and advanced 4% over the last 12 months.
The unemployment rate declined to 3.7%, and the number of unemployed people changed little to 6.3 million.
In November, the number of long-term unemployed, those jobless for 27 weeks or more, edged down to 1.2 million, accounting for 18.3% of all unemployed persons. -
Broadcom decreased 0.3% to $922.0 after the chipmaker reported better-than-expected quarterly results.
Revenue in the fiscal fourth quarter increased to $9.3 billion from $8.93 billion, net income advanced to $3.5 billion from $3.3 billion, and diluted earnings per share rose to $8.25 from $7.83 a year ago.
Semiconductor solution revenue increased 3% to $7.33 billion, and infrastructure revenue rose 7% to $1.97 billion.
The advanced chipmaker guided current fiscal year revenue of $50 billion. -
Luluemlon Athletica decreased 2% to $454.67 after the specialty apparel retailer reported quarterly results and issued a weaker-than-expected holiday sales outlook.
Total revenue in the fiscal third quarter ending in October increased 19% to $2.2 billion, driven by a 12% sales increase in North America and a 49% surge in international markets.
Comparable sales increased by 9%, including comparable store sales of 9%, and direct-to-consumer sales soared by 18% from a year ago.
Net income in the quarter decreased to $248.7 million from $255.5 million, and diluted earnings per share fell to $1.97 from $2.0 a year ago.
During the third quarter, the athletic apparel retailer purchased 0.6 million shares of its own common stock at an average price of $380.88 per share for a cost of $210.8 million.
As of the end of the fiscal third quarter on October 29, the company had $243.2 million available for stock repurchase, and the board of directors approved an additional stock repurchase plan of up to $1.0 billion.
The company offered a cautious sales growth outlook for the upcoming holiday season.
For the fiscal fourth quarter, the retailer expects net revenue to be in the range of $3.135 billion to $3.170 billion, representing growth of 13% to 14%.
Diluted earnings per share are expected to be in the range of $4.85 to $4.93 for the quarter, assuming a tax rate of approximately 30%. -
RH dropped 8.5% to $257.51 after the furniture retailer reported weaker-than-expected revenue and posted an unexpected loss in its latest quarter.
Net revenue in the third quarter declined to $751.2 million from $869.0 million, and the company swung to a net loss of $2 million from a profit of $98.7 million.
Diluted earnings per share were a loss of 12 cents compared to a profit of $4.17 a year ago.
The company attributed the decline in sales to the "frozen housing market" because of elevated home prices and rising mortgage rates combined with higher promotional activities in the furniture industry.
The company narrowed its revenue guidance range for the year to $3.06 billion to $3.08 billion and now expects its adjusted operating margin to be in the range of 13.6% to 14.0%. -
DocuSign declined 0.9% to $47.0 after the online service provider reported higher-than-expected quarterly earnings but offered a muted outlook.
Total revenue in the fiscal third quarter increased 9% to $700.4 million from $645.6million, and the company swung to a net income of $38.8 million from a loss of $29.9 million, and diluted earnings per share were 19 cents compared to a loss of 15 cents a year ago.
The company guided fiscal fourth quarter revenue to fall between $696 million and $700 million, subscription revenue between $679 million and $688 million, and billings between $858 million and $768 million. -
Cooper Companies fell 1.4% to $340.0 despite the eyecare company reporting organic revenue growth and higher earnings in its latest quarter.
Revenue in the fiscal fourth quarter increased 9% to $927.1 million from $848.1 million, net income advanced to $84.5 million from $65.6 million, and diluted earnings per share rose to $1.70 from $1.32 a year ago.
The company announced a four-to-one stock split effective February 16, and the board of directors terminated the semi-annual dividend.
The maker of contact lenses and fertility solutions forecasted fiscal 2024 sales to range between $3.809 billion and $3.877 billion, an increase between 6% and 8%, and non-GAAP diluted earnings per share between $13.60 and $14.0. -
Vali Resorts declined 0.8% to $215.25 after the ski resort operator reported weaker-than-expected quarterly sales and earnings.
Revenue in the fiscal first quarter decreased to $258.5 million from $279.4 million, net loss expanded to $175.5 million from $136.9 million, and diluted loss per share rose to $4.60 from $3.40 a year ago.
The ski resort operator increased quarterly cash dividend per share to $2.06 from $1.91 a year ago and payable on January 9 to shareholders on record on December 26.
The company reiterated its fiscal year 2024 earnings in the range between $316 million and $394 million. -
Dollar General Corp. increased 2.8% to $137.70 after the deep discount retailer reported better-than-expected quarterly results and reaffirmed its fiscal year outlook for earnings and comparable sales.
Revenue in the fiscal third quarter ending on November 3 increased 2.4% to $9.7 billion, and same-store sales declined 1.3%.
Net income in the third quarter dropped 47.5% to $276.2 million from $526.2 million, and diluted earnings per share decreased 45.9% to $1.26 from $2.33 a year ago.
As of November 3, 2023, total merchandise inventories, at cost, were $7.4 billion compared to $7.1 billion as of October 28, 2022, a decrease of 1.8% on a per-store basis.
The company did not repurchase any of its shares in the quarter, and $1.4 billion is available for future purchases at the end of the fiscal third quarter.
The company's board of directors declared a quarterly cash dividend of 59 cents payable on January 23 to shareholders on record on January 9.
The company forecasted fiscal year 2023 same store sales to range between flat and a decline of 1.0%, and net sales growth between 1.5% and 2.5%, including one fewer week this fiscal year.
The retailer estimated diluted earnings per share to decline between 29% and 34% and range between $7.10 and $7.60. -
Toll Brothers increased 2% to $89.0 after the luxury home builder reported better-than-expected quarterly results.
Revenue in the fiscal fourth quarter ending in October declined to $3.02 billion from $3.7 billion, net income decreased to $445.5 million from $640.5 million, and diluted earnings per share dropped to $4.11 from $5.63 a year ago.
The backlog of homes at the end of October declined 19% to 6,578 and the value of the backlog fell 22% to $6.95 billion.
During the quarter, the company repurchased approximately 4.3 million shares at an average price of $75.70 per share, for a total of $325.5 million.
In the fiscal year, the home builder repurchased approximately 7.9 million shares at an average price of $72 per share, for a total purchase price of $565.9 million.
The home developer estimated home deliveries in the fiscal 2024 first quarter to range between 1,800 and 1,900 units and the average delivery price per unit to range between $985,000 and $1.05 million. -
Box Inc. fell 12.2% to $23.41 after the cloud-based content management software developer reported a muted increase in quarterly revenues and earnings.
Revenue in the fiscal third quarter increased 5% to $261.5 million from $249.9 million, net income increased to $5.64 million from $4.98 million, and diluted earnings per share rose to 4 cents from 3 cents a year ago.
The company estimated fiscal year 2024 revenue between $1.037 billion and $1.039 billion, an increase of 5% at the top of the range, and net income between 15 cents and 16 cents, including an unfavorable exchange rate impact of 17 cents.
Dec 7, 2023
Dec 6, 2023