Cirrus Logic shares rose, after Barclays analysts upgraded ratings on the semiconductor company. Barclays analysts boosted their rating on the shares of the Apple supplier to overweight from equal weight. They also increased their price target to $100 from $95. Analyst Blayne Curtis cited the path they expect on further content gains at Apple over next several years. Curtis also emphasized on...
On Tuesday, Intel Chief Executive Pat Gelsinger said that the semiconductor company planned to build new chip-manufacturing factories in Europe. The company wants to invest up to $95 billion for the same. According to The Wall Street Journal, the executive discussed the investment at an auto industry conference in Munich. Intel aims to build two new chip facilities in Europe and could...
Apple Inc. shares extended gains to a new all-time high Tuesday, after the company unveiled the date for the launch of its new line of iPhones. The iPhone maker will hold its annual product event "California Streaming" on Tuesday September 14 at its Cupertino campus. It is expected to unveil a new iPhone 13 series, and the series 7 of its AppleWatch. In its latest quarterly results, Apple...
It also reported a wider-than-expected loss for its fiscal second quarter.
Chewy reported a diluted loss of -4 cents a share, sharper than the -2cents loss a share expected by analysts polled by FactSet.It incurred a loss of -8 cents a share in the year-ago period.
The company’s sales came in at $2.16 billion, compared to the $2.2 billion estimated by analysts in FactSet survey.
Shares of Smith & Wesson fell sharply after hours Wednesday, after the gunmaker posted first-quarter revenue that fell short of analysts’ expectations, even as earnings exceeded estimates.
The company’s first-quarter non-GAAP earnings came in at $1.57 per share, compared to the $1.26 per share expected by analysts polled buy FactSet.
However, revenue of $274.6 million was below the $278.6 million expected by analysts.
The company's gross margin improved to 47.3% from 40.2% a year ago.
"We believe we are well positioned for the ever-changing market conditions in our industry, to maintain our leadership position in the industry, and continue delivering impressive profitability in any environment," CEO Mark Smith said.
Big Lots missed Wall Street estimates on fiscal second quarter earnings and revenue, amid supply chain challenges.
For the quarter ended July 31, the big-box retail company’s earnings came in at $1.09 a share, missing the Zacks Consensus Estimate of $1.13 per share.Revenue in the year-ago quarter was $1.64 billion.
Comparable sales plunged -13%, vs. the+ 31% year-over-year gain in the second quarter of 2020 when there was a shopping surge during the earlier phases of the COVID-19 pandemic.
"We know that the supply chain headwinds will continue into fall and holiday, and the situation remains fluid," said President and CEO Bruce Thorn mentioned in a statement.
Officials are divided about whether to announce it at their meeting on Sept. 20-21 or wait until November.The Fed chairman also didn’t specify the pace of the tapering.
Its earnings topped estimates.
For the fiscal 2021 third quarter, ended July 31, the homebuilding company's revenue came in at $2.26 billion, up from $1.65 billion last year.Analysts expected $1.54 a share.
On Tuesday, Toll Brothers and Equity Residential, a company focused on the acquisition, development and management of residential rental properties, announced a strategic partnership to develop new rental apartment communities in key U.S. markets.
Urban Outfitters reported second quarter results that exceeded analysts’ expectations.
The retail company’s second-quarter earnings came in at $1.28 per share, compared to analysts’ estimate of 78 cents per share.
Revenue of $1.16 billion also surpassed analysts’ expectation of $1.09 billion.
Net sales rose +20.3% compared to 2019 levels. The company’s comparable retail segment increased +22%, on the back of double-digit growth in digital channel sales that offset low-single digit decreases in retail sales.
Shares of Dave & Buster's Entertainment were rising Friday, after a rating boost at Truist.
Analysts at Truist upgraded the entertainment stock to buy from hold.
According to analyst Jake Bartlett, while the company is still in recovery mode, it will be able to weather potential headwinds.Bartlett sees Dave & Buster's as “relatively well positioned” to manage cost pressures including labor, due to new operating efficiencies and previously announced hiring initiatives, due to its low costs as a percentage of total sales.
Earlier this year, the company’s shares got a price target hike to $53 from $46 a share from analysts at Truist, as first-quarter results and current trends reflected "rapid sales recovery" , according to the analysts.
Analysts polled by Refinitiv had expected 82 cents in adjusted earnings per share and $6.66 billion in revenue.
Looking further ahead, Salesforce raised its full fiscal-year 2022 earnings guidance to $4.36 to $4.38 and $26.2 billion to $26.3 billion in revenue.Analysts polled by Refinitiv predicted $3.82 in adjusted earnings per share and $26.01 billion in revenue.
Salesforce revenue forecast includes $530 million from Slack, which is $30 million more than Salesforce had predicted a quarter earlier.
Nordstrom swung to a fiscal-second-quarter profit from the year-ago quarter’s loss.
For the quarter ended July 31, the luxury retail company’s earnings came in at 49 cents a share compared with a loss of -$1.62 a share in the year-earlier quarter.Analysts estimated $3.34 billion.
For the full year, Nordstrom boosted its revenue outlook to 35% from its previous estimate of 25%.
In December, Intuit closed its $3.4 billion acquisition of Credit Karma.
For its fiscal first quarter, Intuit projects revenue growth of approximately 36% to 38%.It expects non-GAAP diluted earnings per share to come in between 94 cents and 99 cents.
For the full fiscal year, Intuit expects revenue of $11.05 billion to $11.2 billion.
Applied Materials reported earnings that exceeded expectations for the fiscal 2021 third quarter, ended Aug. 1. The semiconductor company’s earnings came in at $1.87 per share, well above the $1.74 per share expected by analysts polled by FactSet. It was also up from 91 cents a share in the year-ago quarter. Adjusted profit in the quarter was $1.90, exceeding analysts’ forecast of $1.77...
Salesforce.com got a price target hike from a JMP analyst. Analyst Patrick Walravens boosted his price target on the cloud-based software company’s shares to $320 a share from $282. Walravens increased his second-quarter revenue estimate to $6.24 billion from $6.23 billion, compared to FactSet consensus of $6.24 billion. The analyst also hiked his earnings expectation to 93 cents a share from...
Cisco Systems posted fourth-quarter earnings that exceeded analysts’ expectations. The telecom and networking company’s fourth-quarter non-GAAP earnings came in at 84 cents a share, above analysts’ expectation of 83 cents a share Revenue of $13.1 billion with also topped analysts’ estimate of $13.04 billion. “We continue to see great momentum in our business as customers are looking to...
Victoria’s Secret reported fiscal-second-quarter earnings that surpassed analysts’ expectations. They also marked a turnaround from the year-ago quarter’s loss. Revenue, however, misses analysts' forecasts. For the quarter ended July 31, the lingerie retailer company’s earnings came in at $1.71 a share compared with a loss of -$2.26 a share in the year-ago quarter. Analysts polled by FactSet...
Nvidia reported fiscal second-quarter earnings that exceeded analysts’ expectations. For the quarter ended Aug. 1, the semiconductor company’s adjusted earnings came in at $1.04 a share, compared to the $1.02 a share expected by analysts polled by FactSet. Revenue was $6.51 billion, surpassing analysts’ estimate of $6.33 billion. It was $3.87 billion in the year-ago quarter. Gaming revenue...
Robinhood posted a net loss that were wider than expectations for the second quarter. But the financial services company expressed caution about the third quarter revenue on expected lower trading activity. The company incurred a net loss of - $2.16 per share in the second quarter, compared to a profit of 9 cents in the year-ago quarter. The FactSet analyst consensus expected a loss of -15...
Shares of Krispy Kreme rose after hours Tuesday following second quarter revenue that surpassed analysts’ expectations. Earnings, however, fell a cent short of estimates. The donut company’s second quarter revenue rose +42.6% from the year-ago quarter to $349.2 million , compared to analysts’ expectations of $333.4 million. Earnings came in at 13 cents per share, vs. analysts’ estimates of 14...