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Dec 6, 2023
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MongoDB decreased by 5% to $412.0 after the database developer reported quarterly results.
Total revenue in the third quarter increased 30% from a year ago to $432.9 million, and subscription revenue advanced 30% to $418.3 million.
Net loss in the quarter shrank to $29 million from $84 million, and diluted loss per share decreased to 41 cents from $1.23 a year ago.
The company guided fiscal fourth quarter revenue to range between $429 million and $433 million, adjusted earnings between $35 million and $38 million, and adjusted earnings per share between 44 cents and 46 cents. -
Gitlab soared 14.2% to $60.44 after the software developer reported better-than-expected quarterly results and the company reported adjusted operating profit for the first time.
Revenue in the third quarter increased 32% to $149.7 million from $113.0 million, net loss expanded to $285.2 million from $48.5 million, and diluted loss per share increased to $1.84 from 33 cents a year ago.
The company estimated fourth-quarter revenue to fall between $157 million and $158 million, non-GAAP operating income between $5 million and $6 million, and non-GAAP diluted earnings per share between 8 cents and 9 cents.
The company estimated revenue in the fiscal year 2024 to range between $573 million and $574 million, non-GAAP-adjusted losses between $8 million and $9 million, and non-GAAP-adjusted diluted earnings per share between 12 cents and 13 cents. -
Lands End fell 3.5% to $6.45 after the apparel retailer reported weaker-than-expected quarterly results.
Revenue in the third quarter declined 12.5% to $324.7 million from $371 million, and revenue fell 9.5% excluding Land's End Japan, which closed at the end of fiscal 2022.
Net loss expanded to $112.4 million from $4.7 million, and diluted loss per share rose to $3.52 from 14 cents a year ago.
In the fourth quarter, the company estimated revenue to range between $490 million and $520 million, net income to range between $4 million and $7 million, and diluted earnings per share between 13 cents and 22 cents.
The company guided revenue in fiscal 2023 to be between $1.45 billion and $1.48 billion, net loss between $115 million and $118 million, and diluted loss per share between $3.60 and $3.70. -
J.M. Smucker advanced 2.6% to $115.34, and the stock lacked direction after the food maker lowered its annual expectations after revenue plunged 12% from a year ago.
Revenue in the fiscal second quarter ending in October declined 12% to $1.94 billion from $2.2 billion, net income increased 2% to $194.9 million from $191.1 million, and diluted earnings per share rose to $1.90 from $1.79 a year ago.
The company tightened the upper end of its comparable sales estimate and lowered its view of free cash flow and adjusted earnings per share.
The comparable sales outlook range for fiscal 2024 was tightened to between 8.9% and 9% from the previous range of 8.5% and 9.5%, and the adjusted earnings per share range was between $9.25 and $9.65 from the previous estimate of between $9.45 and $9.85.
The company also sharply lowered its full-year free cash flow estimate to $530 million from $650 million, but its capital expenditure to increase to $610 million from the previous estimate of $550 million. -
Job openings declined sharply in October after employers across the nation in several industries curtailed announcements for new hires.
The number of job openings declined by 617,000 to 8.7 million, the U.S. Bureau of Labor Statistics reported Tuesday.
Over the month, job openings decreased in health care and social assistance by 236,000.finance and insurance by 168,000, and real estate and rental and leasing by 49,000.
But job openings increased in information by 39,000.
The widespread decline in job vacancies lowered the ratio of openings to available workers to 1.3 to 1 from around 2 to 1 earlier in the year.
On a regional basis, job openings fell in the South by 289,000, the Midwest by 193,000, the West by 83,000, and the Northeast by 52,000.
Over the month, the number of hires and total separations changed little, at 5.9 million and 5.6 million, respectively.
Within separations, quits were 3.6 million, and layoffs and discharges were 1.6 million, and both changed little.
While job openings fell, the number of hires fell slightly, and quits, the measure of workers confidence in finding another job, declined little. -
Spotify Technology jumped 6.4% to $192.30 after the music streaming company announced its plan to lay off 1,500 employees, or 17% of its staff.
The company said it hired too many people in 2020 and 2021, and it needs to control its costs and adjust to new market realities. -
Alaska Air Group declined 13.5% to $34.27 after the regional airline agreed to rival Hawaiian Airlines in a deal worth $1.9 billion.
Alaska Air agreed to pay $18 a share to the airline and assume $900 million of the company's debt.
Hawaii Airlines parent Hawaiian Holdings surged 181% to $13.65 in early trading, and cautious investors worried about the steep regulatory hurdles faced by the merger. -
Coinbase Global jumped 9.2% to $146.10, and MicroStrategy advanced 8.2% to $571.0 after bitcoin surpassed the $40,000 level.
The surge in bitcoin also lifted the stock prices of other cryptocurrency-linked companies.
Marathon Digital Holdings soared 13% to $15.53, and Rio Platforms advanced 11.1% to $15.30. -
Walt Disney increased 0.2% to $92.92 after the theme park and movie studio operator reinstated its 30 cents per share dividend.
The company is battling a proxy fight challenge from activist investor Nelson Peltz, and his fund is seeking multiple board seats. -
Ulta Beauty soared 11.4% to $474.48 after the company reported strong third-quarter results and tightened its full-year revenue outlook.
Revenue in the third quarter ending in October increased to $2.5 billion from $2.3 billion, comparable store sales growth plunged to 4.5% from 14.6%, and the company opened a net of 12 new stores compared to 18 a year ago.
Net income decreased to $249.5 million from $274.5 million, and diluted earnings per share fell to $5.07 from $5.34 a year ago.
The company estimated a full-year revenue range between $11.10 billion and $11.15 billion, up from the previous estimate between $11.05 billion and $11.15 billion.
The company reiterated its net new store opening estimate between 25 and 30, and its diluted earnings per share estimate was revised to a new range between $25.20 and $25.60 from the previous estimate between $25.10 and $25.60.
Comparable sales are estimated to fall between 5.0% and 5.5% from the previous estimate between 4.5% and 5.5%.
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