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Dec 1, 2023
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Samsara jumped 13.1% to $31.15 after the IoT company reported quarterly results.
Revenue in the third quarter ending in October rose 40% to $237.5 million from $169.8 million, net loss shrank to $45.5 million from $58.6 million, and diluted loss per share eased to 8 cents from 11 cents a year ago.
The company forecasted revenue in the fourth quarter to fall between $257 million and $259 million and for the full-year 2024 to range between $918 million and $920 million.
Revenue in the fourth quarter is expected to rise between 38% and 39%, and in the full-year advance, 41% from a year ago. -
Five Below was nearly unchanged at $188.0 after the deep discount retailer reported its third-quarter results.
Revenue in the third quarter increased 14.2% to $736.4 million from $645.0 million, and comparable store sales rose 2.5% from a year ago.
Net income in the quarter declined to $14.6 million from $16.1 million, and diluted earnings per share fell to 26 cents from 29 cents a year ago.
The company repurchased 500,000 shares in the third quarter at a cost of $80 million.
The company estimated net sales in the fourth quarter to be in the range of $1.32 billion to $1.35 billion, including an additional 60 stores, based on a 2% to 3% rise in comparable store sales.
Net income in the fourth quarter is estimated to be in the range of $201 million and $211 million. -
Pure Storage plunged 15.7% to $32.17 after the data storage company estimated a lower-than-expected current quarter and annual revenue.
Revenue in the third quarter increased 13% to $762.8 million from $676.1 million; the company swung to net income of $70.4 million from a loss of $0.7 million; and diluted earnings per share were 21 cents compared to breakeven.
Subscription services revenue increased by 26% to $309.6 million, and subscription annual recurring revenue also increased by 26% to $1.3 billion. -
Snowflake jumped 7.2% to $187.95 after the software company reported that revenue and earnings jumped in its latest quarter.
Revenue in the fiscal third quarter ending in October jumped 32% to $734.2 million from $557 million; net loss expanded to $214.7 million from $201.4 million; and diluted loss per share expanded to 65 cents from 63 cents a year ago.
The company said remaining performance obligations increased by 23% to $3.7 billion, and the company now has 436 customers with trailing 12-month product revenue of more than $1.0 million.
Non-GAAP adjusted free cash flow soared 70% from a year ago to $111 million in the quarter. -
Salesforce soared 9.2% to $251.53 after the customer contact management software company reported better-than-expected earnings.
Revenue in the third quarter increased 11% to $8.7 billion from $7.8 billion, net income soared to $1.2 billion from $210 million, and diluted earnings per share rose to $1.25 from 21 cents a year ago.
The company repurchased $1.9 billion of its stock in the third quarter.
The software company estimated fourth-quarter revenue to increase 10% and fall in the range of $9.18 billion and $9.23 billion and narrowed its full-year fiscal 2024 revenue outlook to an increase of 11% to between $34.75 billion and $35.8 billion. -
The personal consumption expenditure price index was flat on a monthly basis in October, the Bureau of Economic Analysis reported Thursday.
The alternative watered down measure of inflation, preferred by policymakers, was the weakest since July 2022, after rising 0.4% in September and August.
The annual rate also slowed to 3.0% from 3.4% in September, a low level not seen since March 2021.
Moreover, the annual core PCE inflation, which excludes food and energy, eased to 3.5% from 3.7%, a new low in 27 months.
Personal income and spending inched up 0.2% from the previous month, the monthly report showed. -
General Motors jumped 8.5% to $31.35 after the vehicle maker announced a $10 billion stock buyback, raised its dividend, and reinstated its annual outlook.
The company estimated net income attributable to stockholders between $9.1 billion and $9.7 billion, compared to the previous outlook of $9.3 billion and $10.7 billion.
Diluted earnings per share in the $6.52 to $7.02 range, including the estimated impact of the accelerated stock repurchase, compared to the previous outlook of $6.54 to $7.54
The vehicle maker said it plans to increase its dividend by 33%, or 3 cents per quarter, to 12 cents, beginning with the declaration in January 2024.
GM had about 1.37 billion outstanding shares prior to the announcement of the accelerated stock repurchase program. -
Foot Locker jumped 8.5% to $25.85 after the specialty athletic retailer reported better-than-expected quarterly results.
Revenue in the fiscal third quarter ending in October declined 8.6% to $1.99 billion from $2.17 billion, and comparable store sales fell 8.0%.
The company attributed the decline in sales to "ongoing consumer softness," and the closure of Champ stores negatively impacted same-store sales by 3 percentage points.
Net income in the quarter decreased to $28 million from $96 million, and diluted earnings per share dropped to 30 cents from $1.01 a year ago.
The retailer tightened its full-year revenue growth estimate to between 8.0% and 8.5% from the previous guidance between 8.0% and 9.0%, and comparable sales growth to range between 8.0% and 8.5% from 8.0% to 9.0%.
The company entered into a long-term licensing agreement with two retailers in India and will commence sales operations in 2024.
During the third quarter, the company paid a quarterly dividend of $0.40 per share for a total of $38 million and did not repurchase any shares. -
Petco Health and Wellness Company plunged 16.7% to $3.20 after the specialty retailer reported weaker-than-expected quarterly earnings.
Revenue in the fiscal third quarter ending in October declined 0.5% to $1.49 billion from $1.50 billion, and same-store sales were flat from a year ago but rose 4.1% from two years ago.
The company swung to a net loss of $1.2 billion from a profit of $19 million, and diluted earnings per share dropped to a loss of $4.63 from a profit of 7 cents a year ago.
During the quarter, Petco recorded a $1.2 billion non-cash goodwill impairment charge associated with goodwill originally recorded in fiscal 2015, due to the decline in the company's stock price.
The company reiterated its 2023 revenue guidance to between $6.15 billion and $6.275 billion, adjusted earnings per share to 8 cents from the previous estimate between 24 cents and 30 cents, and confirmed its capital expenditure between $215 million and $225 million. -
NetApp soared 10.3% to $86.11 after the intelligent data infrastructure company reported better-than-expected quarterly results.
Revenue in the fiscal third quarter ending in October decreased 6% to $1.56 billion from $1.66 billion, and billings declined 9% to $1.45 billion from $1.60 billion a year ago.
Net income plunged to $233 million from $750 million, and diluted earnings per share dropped to $1.10 from $3.41 a year ago.
During the quarter, the company returned $403 million to stockholders through stock repurchases and cash dividends.
For the fiscal year 2024 third quarter, the company estimated revenue in the range of $1.51 billion and $1.67 billion and diluted earnings per share in the range of $1.17 billion and $1.27 billion.
For the full year 2024, the cloud infrastructure company estimated revenue to decline 2% from a year ago, gross margin of 70%, and earnings per share between $4.15 and $4.35 a share.
The company also declared a dividend of 50 cents per share to be paid on January 24, 2024, to shareholders on record on January 5, 2024.
Nov 30, 2023
Nov 29, 2023