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Why Samsara (IOT) Stock Is Trading Up Today
Shares of internet of Things company Samsara (NYSE:IOT) jumped 17.2% in the morning session after the company reported a "beat and raise" quarter. Samsara beat analysts' revenue, adjusted operating income, and EPS expectations this quarter. Notably, the top line grew by 37% year on year, benefiting from expansion from existing customers and new business wins. The company's investment in new products is also paying off, with Asset Tags (like a tracking device) driving approximately $1 million in net new ACV (annual contract value) in the first quarter of sales. Moving on, it raised its full-year guidance for revenue, adjusted operating income, and EPS. Overall, this was a splendid quarter.
Why Domo (DOMO) Shares Are Sliding Today
Shares of data visualization and business intelligence company Domo (NASDAQ:DOMO) fell 8.8% in the morning session after the company filed a prospectus for a $300M mixed-shelf offering. A mixed-shelf offering gives a company the flexibility to issue new securities over time without needing a separate registration statement for each new offering. The company noted that the prospectus is not an offer to sell securities. However, the filing raised uncertainty about the company's future need for cash, which the market doesn't like. Also, investors often react negatively to the potential for dilution, and the stock's reaction suggests the market anticipated the company might issue additional securities.
Guidewire (GWRE) Stock Trades Up, Here Is Why
Shares of insurance industry-focused software maker Guidewire (NYSE:GWRE) jumped 13.6% in the morning session after the company reported second-quarter earnings results. Guidewire blew past analyst expectations for most of the key topline metrics we track, including revenue, billings, and ARR (annual recurring revenue). The bottom line was also strong as free cash flow and EPS both came in ahead of consensus estimates. Looking ahead, its full-year revenue guidance topped Wall Street's estimates. Zooming out, we think this was a solid quarter.
Why Quanex (NX) Stock Is Up Today
Shares of building products company Quanex (NYSE:NX) jumped 21.1% in the afternoon session after the company reported a "beat and raise" quarter. Quanex blew past analysts' revenue and EPS expectations.
Why Unity (U) Stock Is Nosediving
Shares of game engine maker Unity (NYSE:U) fell 6.4% in the afternoon session after market volatility increased (Nasdaq down 2.5%, S&P 500 down 1.5%) following the underwhelming jobs report, which raised more questions about the health of the economy. The Bureau of Labor Statistics reported that non-farm Payrolls for the month of August 2024 revealed that the US economy added 142,000 jobs. While the growth represented a significant improvement from the previous month (+89k additions), it fell below the 161,000 consensus forecast. In addition, the unemployment rate clocked in at 4.2%, roughly in line with expectations. Following the report, the consensus expectation continued to point to a higher probability of a 25 basis points (0.25%) rate cut during the September 2024 Fed policy meeting.
Why Genesco (GCO) Shares Are Getting Obliterated Today
Shares of footwear, apparel, and accessories retailer Genesco (NYSE:GCO) fell 17% in the morning session after the company reported second-quarter earnings results. Citing macro uncertainties and a tough operating environment, management provided guidance that was below expectations and calls for a revenue decline in the coming year, which is never a good sign for any business.
Why Is Bowlero (BOWL) Stock Rocketing Higher Today
Shares of upscale bowling alley chain Bowlero (NYSE:BOWL) jumped 15.4% in the morning session after the company reported second-quarter earnings results. Bowlero beat analysts' revenue expectations. In addition, its full-year revenue guidance came in higher than Wall Street's estimates. The profitability outlook was also promising, with the company expected to achieve 50% operating leverage in FY 2025 as it recovers from wage increases in 2023 and one-time COVID-related costs. Overall, this quarter had some key positives.
Why Smith & Wesson (SWBI) Shares Are Plunging Today
Shares of american firearms manufacturer Smith & Wesson (NASDAQ:SWBI) fell 10.3% in the morning session after the company reported second-quarter earnings results. Its revenue and EPS unfortunately fell short of Wall Street's estimates. Notably, revenue fell 23% y/y as demand for firearms was softer than expected despite the anticipated seasonal summer deceleration. Encouragingly, management noted that demand picked up in August. Overall, this was a weaker quarter.
Zumiez (ZUMZ) Shares Skyrocket, What You Need To Know
Shares of clothing and footwear retailer Zumiez (NASDAQ:ZUMZ) jumped 15.3% in the morning session after the company reported second-quarter earnings results. Zumiez blew past analysts' EPS expectations, and its revenue outperformed Wall Street's estimates. Although its earnings forecast for next quarter missed analysts' expectations, revenue guidance for next quarter exceeded expectations. Overall, this was a decent quarter (especially as many retailers struggled this quarter), with some key metrics above expectations.
Smartsheet (SMAR) Stock Trades Up, Here Is Why
Shares of project management software maker Smartsheet (NYSE:SMAR) jumped 10.1% in the morning session after the company reported second-quarter earnings results, with revenue, billings, adjusted operating income, and EPS outperforming Wall Street's estimates. On the other hand, full-year revenue guidance slightly missed Wall Street's estimates. The company is likely experiencing challenges with smaller customer cohorts amid the challenging demand environment, with churn rate in the segment up slightly to 4.5%. Otherwise, we think this was a decent quarter featuring some areas of strength but also some blemishes, especially in the outlook.