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Why It Moves

Why Are Deckers (DECK) Shares Soaring Today

Shares of footwear and apparel conglomerate Deckers (NYSE:DECK) jumped 13.6% in the pre-market session after the company reported first-quarter earnings results that blew past analysts' constant currency revenue and EPS expectations, driven by huge outperformance at its Hoka ($533 million of revenue vs. estimates of $496 million) and UGG ($361 million of revenue vs. estimates of $318 million) brands. 

May 24, 2024
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Why It Moves

Why Is Ross Stores (ROST) Stock Soaring Today

Shares of off-price retail company Ross Stores (NASDAQ:ROST) jumped 9.2% in the morning session after the company reported first-quarter results that beat analysts' gross margin expectations, which led to operating profit and EPS beats. Adding to the positive aspect, revenue came in slightly ahead of analysts' expectations due to an increase in traffic. This suggests healthy demand from its consumer base despite some of the macro concerns raised by some of the retailers that have reported earnings this quarter. Ross also acknowledged challenges with low-to-moderate income consumers, as well as other concerns, including "the weather, the Easter calendar shift, and tax refund timing." 

May 24, 2024
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Why It Moves

Why Domo (DOMO) Stock Is Falling Today

Shares of data visualization and business intelligence company Domo (NASDAQ:DOMO) fell 16% in the pre-market session after The company reported first-quarter earnings results, with billings missing Wall Street's estimates. Guidance wasn't encouraging, as revenue projections for the next quarter missed analysts' expectations. Potentially more worrisome, the company did not reiterate or update its full-year guidance, which it gave last quarter. This could mean that visibility into demand trends is murky or changing rapidly. Adding to the concerns, cash flow turned negative, following the rare positive cash inflow recorded in the previous quarter. Overall, this was a mediocre quarter for Domo, providing little reasons for investors to stay positive.

May 24, 2024