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    • Breaking News
    Sep 12, 2023
    • Oracle Corp dropped 9.2% to $126.71 after the database company reported weaker-than-expected revenue in the fiscal first quarter. 

      Revenue in the quarter was $12.45 billion and adjusted earnings per share was $1.19, both fell short of some analysts' expectations. 

      The company also guided lighter-than-expected revenue growth in the fiscal second quarter between 5% and 7% and adjusted earnings per share between $1.30 and $1.34. 

      Cloud services and license support segment revenue increased 13% from a year ago to $9.55 billion but the cloud license and on-premises license segment revenue decreased 10% to $809 million.    

      Hardware revenue fell 6% to $714 million. 
      • Casey's General Stores Inc jumped 4% to $246.30 after the retail chain reported better-than-expected quarterly results. 

        Revenue in the fiscal first quarter ending in July declined to $3.9 billion from $4.5 billion and net income rose to $169.2 million from $152.9 million and diluted earnings per share advanced to $4.52 from $4.09 a year ago. 

        In the first quarter, the company repurchased shares for approximately $30 million and still has $370 million remaining under its existing share repurchase authorization.

        The Board of Directors announced a quarterly cash dividend of 43 cents per share payable on November 15 to shareholders on record on November 1. 
        • Sep 11, 2023
        • J.M. Smucker, the maker of peanut butter, jelly, coffee and pet foods, said it agreed to acquire Twinkies maker Hostess Brands for $34.25 a share in stock and cash. 

          The offer valued Hostess Brands for $5.6 billion including debt and the purchase is expected to close by the  end of January 2024. 

          J.M. Smucker Co declined 6.8% to $132.0 and Hostess Brands Inc soared 19.1% to $33.47. 
          • RTX Corp declined 6.6% to $77.90 after the company said it plans to take a pre-tax charge of $3 billion in its current quarter results because of issues related to some of Pratt & Whitney aircraft engine manufacturing that power  Airbus A320 neo. 
            • RTX
            • Qualcomm Inc jumped 3.2% to $110.29 after the company said it will provide modems for smartphones made by Apple Inc through 2026.  

              Apple has been working for more than four years to develop its own modem chipsets and purchased Intel's modem division in 2019. 
              • Tesla Inc jumped 7.4% to $266.81 after Morgan Stanley analyst made positive comments and said that the company has made significant breakthrough in its software for autonomous vehicle. 

                Analyst Adam Jonas said that stock could rally as much as 60% and add as much as $500 billion in market cap as the company makes advances in its supercomputing project Dojo. 
                • Sep 8, 2023
                • Planet Labs PBC declined 7.7% to $2.84 after the satellite imagery company reported weaker-than-expected quarterly results and forecasted revenue below market expectations. 

                  Revenue in the second quarter ending in August increased 11% to $53.8 million and net loss shrank to $37.9 million from $39.4 million and diluted loss per share declined to 14 cents from 15 cents a year ago. 

                  For the third quarter ending in October, the company estimated revenue to increase 11% between $54 million and $56 million. 

                  The satellite imagery company estimated fiscal full-year revenue between $214 million and $223 million, an increase of 15% at the midpoint.  
                  • Kroger Company declined 1.1% to $45 after the largest independent grocery retail chain reported mixed second quarter results. 

                    Revenue in the second quarter declined to $33.8 billion from $34.6 billion and excluding fuel, sales increased 1% from a year ago to $29.5 billion. 

                    Kroger defines identical sales, excluding fuel, as sales to retail customers, including sales from all departments at identical supermarket  locations, Kroger Specialty Pharmacy businesses, jewelry and ship-to-home solutions. 

                    Kroger defines a supermarket as identical when it has  been in operation without expansion or relocation for five full quarters. 

                    The company swung to a net loss of $180 million from a profit of $731 million and diluted earnings per share swung to ($0.25) from $1.0 a year ago. 

                    Separately, the company said it settled most claims related to opioid for $1.2 billion. 

                    The company said the settlement and the payment terms will not affect Kroger’s ability to complete its proposed merger with Albertsons and the company still expects to reduce its net total debt to adjusted EBITDA ratio to 2.50 within 18 – 24 months after the close of the merger. 

                     
                    • DocuSign Inc jumped 1% to $52.65 after the company reported better-than-expected revenue in its latest quarter. 

                      Revenue in the second quarter ending in July increased 11% to $687.7 million from $622.2 million and the company swung to a profit of $7.4 million from a loss of $45 million and diluted earnings per share was 4 cents compared to (22 cents) a year ago. 

                      Free cash flow increased to $183.6 million from $105.5 million in the same period last year.

                       
                      • RH dropped 9.1% to $335 after the home goods retailer forecasted weak third quarter outlook citing weakness in the luxury residence market on elevated mortgage rates. 

                        Revenue in the second quarter ending in July decreased to $800 million from $991.6 million and net income declined to $76.4 million from $122 million and diluted earnings per share fell to $3.36 from $4.54 a year ago. 

                        The company forecasted third quarter revenue between $740 and $760 million and adjusted operating margin in the range of 8% to 10%.  

                        The retailer raised to the low end of revenue guidance for the year to a range of $3.04 billion to $3.1 billion and reiterated its outlook for adjusted operating margin in the range of 14.5% to 15.5%. 

                        RH estimate the 53rd week will result in revenues of approximately $60 million.

                        The company repurchased 3.7 million shares in the second quarter at an average price of $325.65, representing approximately 17% of the total shares outstanding at the beginning of the second quarter.