All articles tagged with #earningsreport
GameStop shares are in focus ahead of its earnings report, with recent social media activity from 'Roaring Kitty' boosting the stock. Key price levels to watch include resistance at $31 and $40.50, and support at $23 and $19.50. Despite a bullish pattern, Wedbush maintains an 'underperform' rating with a $10 target, citing challenges in digital transition.
Dollar Tree and Foot Locker reported contrasting quarterly earnings, with Dollar Tree seeing a 16% rise in earnings per share and a 3.5% increase in revenue, beating expectations. The company is reviewing strategic options for its Family Dollar business. Foot Locker, however, missed earnings expectations with a slight increase in adjusted earnings and a 1.4% decline in sales, leading to a lowered guidance for 2024. This negatively impacted Nike's stock, which slid alongside Foot Locker's shares.
Dollar Tree's stock rose nearly 5% on Wednesday after the company reported better-than-expected third-quarter earnings, with adjusted EPS of $1.12 and sales of $7.57 billion, both surpassing analyst expectations. The company saw a 1.8% increase in same-store net sales, driven by higher traffic. Dollar Tree is also closing underperforming Family Dollar stores as part of a strategic review. The company provided updated guidance for fiscal 2024, expecting sales between $30.7 billion and $30.9 billion and adjusted EPS of $5.31-$5.51.
The stock market saw gains on Wednesday, with the Dow Jones Industrial Average rising 0.6% following a weaker-than-expected jobs report for November. Salesforce led the charge with a 10% increase after reporting strong revenue and performance metrics despite missing earnings estimates. Other notable stock movements included Chewy's 9% drop and Marvell Technology's 14% rise. Investors are also anticipating a speech from Federal Reserve Chairman Jerome Powell later in the day.
Spirit Airlines filed its delayed third-quarter earnings report, revealing a $308 million loss against $1.2 billion in revenue, amid a challenging pricing environment and failed merger attempts with JetBlue and Frontier Airlines. The company has been struggling with increased costs and policy changes affecting revenue, and expects these challenges to persist through 2024. Despite the negative financial results, Spirit's stock saw a 130% increase in trading, although it remains volatile due to its delisting from the NYSE.
U.S. stock futures have largely recovered after an initial decline, as Nvidia shares pared earlier losses following its earnings report. Nvidia's shares initially dropped nearly 4% due to unmet high expectations but have since reduced the loss to 1.5%, stabilizing the S&P 500 futures. Analysts noted the mild market reaction to Nvidia's earnings, which is typically more volatile, suggesting a positive outlook for the broader market.
Nvidia is set to announce its Q3 results, with investors debating whether to buy the stock beforehand. Reasons to buy include Nvidia's history of surpassing expectations and positive signals from major customers like Amazon and Microsoft. However, potential issues such as unmet "whisper" expectations and reported overheating problems with Nvidia's Blackwell GPUs could impact stock performance. Despite these concerns, Nvidia remains a strong long-term investment unless Blackwell issues are more severe than currently perceived.
Super Micro Computer, Inc. (NASDAQ:SMCI) is at risk of being delisted from the NASDAQ stock market due to a delay in filing its latest quarterly earnings report. The company, which specializes in high-performance server and storage solutions, plans to submit a plan to retain its listing. This situation echoes a previous delisting in 2018 for similar reasons. Meanwhile, AI continues to be a major focus in global markets, with significant investments and developments in the sector.
Restaurant Brands International, the parent company of Burger King, reported third-quarter earnings and revenue that fell short of analysts' expectations. The company's earnings per share were 93 cents, slightly below the expected 95 cents, and revenue was $2.29 billion, missing the $2.31 billion forecast. Despite a 24.7% increase in net sales due to acquisitions, same-store sales growth was weak, with Burger King, Firehouse Subs, and Popeyes all reporting declines in their home markets. Tim Hortons showed some growth but still underperformed against expectations.
Texas Instruments' stock slid in after-hours trading following the company's fourth-quarter financial results, which showed a 30.05% decrease in earnings and a 12.70% decrease in sales compared to the same period last year. The company reported quarterly earnings of $1.49 per share, slightly above analyst expectations, and quarterly sales of $4.08 billion, falling short of the analyst consensus. Texas Instruments anticipates first-quarter revenue between $3.45 billion and $3.75 billion, lower than the $4.06 billion estimate, with earnings expected to be between 96 cents and $1.16 per share. The company's president and CEO attributed the decline in revenue to increasing weakness across industrial and a sequential decline in automotive.
Constellation Brands continues to benefit from its Modelo Especial beer, which surpassed Bud Light as the top-selling beer in the U.S. after Anheuser-Busch faced backlash over a partnership with transgender activist Dylan Mulvaney. Despite missing quarterly sales estimates due to lower wine and spirit demand, Constellation maintained its 2024 profit forecast, buoyed by the growth of its beer segment. The company reported a 4% rise in beer business net sales and a quarterly comparable profit that exceeded expectations, while maintaining its fiscal 2024 profit forecast amidst market headwinds in the wine sector.
Palantir Technologies Inc. (PLTR) experienced a slight gain in the latest trading session, outperforming the broader market dip. The company is anticipated to report a significant increase in earnings per share and revenue in the upcoming earnings disclosure. Analysts' estimates have remained stable, and Palantir holds a Zacks Rank of #1 (Strong Buy), indicating potential outperformance. Despite trading at a premium compared to the industry average, the company's valuation metrics suggest growth expectations are factored in. Investors and analysts are keeping a close watch on Palantir's financial performance and stock movements as the earnings report approaches.
Mobileye's stock experienced a significant drop after the company predicted a 50% decrease in full-year revenue for 2024, despite beating first-quarter earnings estimates. Concurrently, Walgreens announced a reduction in its quarterly dividend to allocate more capital towards growing its pharmacy and healthcare business, which led to a 5% decline in its stock price. The market reacted negatively to both announcements, with Mobileye's forecast being described as a "shortfall of epic proportions" and Walgreens' dividend cut disappointing investors, even though it was anticipated.
Constellation Brands, the company behind popular beers like Modelo and Corona, is set to report its quarterly earnings on Friday. Investors are keen to see if the company can turn around its stock performance, which has been disappointing for long-term shareholders. The earnings report is seen as an opportunity for the company to redeem itself in the eyes of its investors.
Walgreens Boots Alliance stock dropped over 10% following the announcement of a significant cut to its quarterly dividend, nearly halving it. This move has raised concerns among investors, leading to a sharp decline in the company's share price.