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    Nov 14, 2023
    • Home Depot Inc. advanced 3.5% to $299.23 after the specialty retailer reported quarterly results and issued a muted outlook.

      Revenue in the third quarter declined 3% to $37.7 billion from $38.9 billion, net income dropped 12.2% to $3.8 billion from $4.2 billion, and diluted earnings per share dropped to $3.81 from $4.24 a year ago.

      Comparable store sales in the quarter decreased by 3.1%, and comparable sales at U.S. locations declined by 3.5%.

      The company estimated sales and comparable sales to decline between 3% and 4%, operating rate margins between 14.2% and 14.1%, and diluted earnings per share to fall between 9% and 11%.
      • Nov 10, 2023
      • Doximity increased 16% to $23.81 after the company reported better-than-expected quarterly results.

        Revenue in the fiscal 2024 second quarter ending in September increased 11% to $113.6 million from $102.2 million, net income jumped to $30.6 million from $26.3 million, and diluted earnings per share rose to 15 cents from 12 cents a year ago.

        The company anticipated revenue in the fiscal third quarter ending in December in the range of $127 million and $128 million and adjusted EBITDA between $61 million and $62 million.

        The healthcare professional company updated its full-year guidance to between $460 million and $472 million and adjusted EBITDA to between $207 million and $219 million.

        At the time of announcing previous quarterly results, the company had estimated annual revenue between $452 million and $468 million and EBITDA between $193 million and $209 million.

        The company's board authorized $70 million of its own stock repurchases over the next year.
        • Trade Desk plunged 24% to $58.41 after the company reported third-quarter results and offered a cautious outlook.

          Revenue increased 25% to $493 million from $395 million, net income advanced to $39 million from $16 million, and diluted earnings per share rose to 8 cents from 3 cents a year ago.

          The company repurchased $90 million of Class A common stock in the third quarter, and as of the end of September, the company had $273 million available and authorized for its own stock repurchase.

          The company estimated fourth-quarter revenue of at least $580 million, a less-than-expected $600 million by some analysts, and adjusted operating earnings of $270 million.

          Chief executive Jeff Green confirmed in the earnings call that advertisers have turned cautious in the automotive and consumer electronics industries.

          "We saw some reduction in brand spend in verticals such as automotive and consumer electronics, for instance, specifically around cell phones and media and entertainment,” said Green.

          “Some of these industries have been recently impacted by strikes, such as the U.S. auto industry,” Green added during the call with investors.
          • Wynn Resorts decreased 5% to $86.0 after the casino operator reported better-than-expected revenue and earnings in its latest quarter.

            Revenue in the third quarter increased to $1.7 billion from $889 million; net loss shrank to $120.5 million from $207.9 million; and diluted loss per share fell to $1.03 from $1.27 a year ago.

            Revenue at casino properties located in Macau rebounded following the resumption of travel after the end of COVID restrictions.

            Operating revenue at Wynn Palace rose to $524.8 million from $75.2 million, and at Wynn Macau, it jumped to $295.0 million from $40.4 million a year ago.

            Las Vegas operations also showed sustained revenue growth in the quarter.

            Operating revenue increased to $619 million from $544.4 million, and the table game win percentage for the third quarter was 26%, falling near the upper end of its expected range between 22% and 26%.

            Operating revenue at Encore Boston Harbor decreased to $210.4 million from $211.8 million, and table game win percentage decreased to 20.8% from 21.1% a year ago.
            • Nov 9, 2023
            • Arm Holdings dropped 6.2% to $51.0 after the advanced semiconductor chip maker reported mixed quarterly results and offered a muted outlook for the current quarter.

              Total revenues in the fiscal second quarter ending in September increased 28% to $806 million from $630 million, but the company swung to a loss of $110 million from a profit of $114 million a year ago.

              Diluted loss per share was 11 cents compared to earnings of 11 cents a year ago.

              Remaining performance obligations, a measure of backlog, increased by 38% to $2.4 billion from $1.8 billion a year ago.
              • ARM
              • MGM Resorts advanced 3% to $39.85 after the hotel and casino operator reported better-than-expected quarterly results and the company announced its stock repurchase plan.

                Revenue in the quarter increased to $3.97 billion from $3.4 billion, primarily because of a rebound in MGM China operations after the ending of COVID-related travel restrictions.

                The company swung to net income of $211.8 million from $1.06 billion, and diluted earnings per share rose to 46 cents from a loss of $1.45 a year ago.

                Las Vegas strip revenue, adjusted for the sale of The Mirage, decreased to $2.1 billion from $2.2 billion a year ago.

                MGM China revenue soared to $813 million from $87 million, an increase of 829% from a year ago and 10% compared to the third quarter in 2019.

                During the quarter, the company repurchased 13 million shares of its common stock for $572 million, and about $806 million are still available in the current stock repurchase plan.

                The company's board also approved a new stock repurchase program of $2 billion, in addition to the existing February 2023 stock buyback plan.
                • Lyft declined 3.3% to $10.30 after the digital ride hailing company reported weaker-than-expected quarterly results and guided that weak bookings are expected to persist in the current quarter.

                  Revenue in the third quarter increased to $1.15 billion from $1.05 billion, net loss shrank to $12.1 million from $422.2 million, and diluted loss per share dropped to 3 cents from $1.18 a year ago.

                  Active riders increased to 22.4 million from 20.3 million, and revenue per active rider edged slightly lower to $51.67 from $51.88 a year ago.

                  The rebound in travel was reflected in the gross bookings for the ride services during the quarter.

                  Gross bookings jumped to $3.55 billion from $3.08 billion, and the company offered bookings to range between $3.6 billion and $3.7 billion in the fourth quarter.

                  The company lowered its growth outlook in the current quarter to grow in "mid-single-digits" from the previous quarter, and as a percentage of revenue, the fourth quarter adjusted EBITDA margin will be "roughly in line" with the 4% achieved in the second quarter.
                  • Disney jumped 4.3% to $88.12 after the theme park operator and media company reported better-than-expected quarterly results and added plans to expand its cost reduction plans to $7.5 billion from $5.5 billion.

                    Revenue in the fiscal fourth quarter ending in September increased 5% to $21.2 billion from $20.2 billion, net income advanced to $694 million from $254 million, and diluted earnings per share rose to 14 cents from 9 cents a year ago.

                    Revenue in the entertainment segment, which includes television and streaming businesses, increased 2% to $9.5 billion; in the experiences segment, which includes theme parks, vacation clubs, and cruises, it rose 13% to $8.2 billion; and in sports, it was flat at $3.9 billion.

                    In the direct-to-consumer segment, which includes Disney+, Disney+ Hotstar, and Hulu, revenue increased 12% to $5.0 billion, and operating losses shrank to $420 million from $1.4 billion a year ago.
                    • Nov 8, 2023
                    • Robinhood Markets Inc. dropped 12.4% to $8.55 after the online trading platform reported weaker-than-expected sales of $467 million in the third quarter.

                      Revenue in the third quarter increased by 29% to $467 million, driven by a 96% increase in net interest income to $251 million.

                      Net loss in the quarter shrank to $85 million from $175 million, and diluted loss per share fell to 9 cents from 20 cents a year ago.

                      Average revenue per user increased by 27% to $80, and monthly active users fell 16% to 10.3 million.

                      Net deposit inflow in the quarter was $4 billion, and assets under custody surged 34% to $87 billion, reflecting higher equity valuations and a continued net inflow of assets.
                      • eBay Inc. declined 5.8% to $38.45 after the online marketplace reported mixed quarterly results.

                        Revenue in the third quarter increased 5% to $2.5 billion from $2.4 billion, the company swung to a net profit of $1.3 billion from a loss of $69 million, and diluted earnings per share increased to $2.47 from a loss of 13 cents a year ago.

                        The company guided fourth-quarter revenue to fall between $2.47 and $2.5 billion and diluted earnings per share between 70 cents and 75 cents.

                        eBay estimated full-year 2023 revenue to range between $10.02 billion and $10.08 billion and diluted earnings per share between $4.53 and $4.58.