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Why It Moves

Why 8x8 (EGHT) Shares Are Sliding Today

Shares of business communications software company 8x8 (NYSE:EGHT) fell 10.8% in the morning session after Morgan Stanley analyst Meta Marshall downgraded the stock’s rating from Equal-weight (Hold) to Underweight (Sell) and lowered the price target from $3 to $2, citing a “challenging growth equation.” The new price target represents a potential 8% downside from where shares traded when the downgrade was announced and suggests the analyst expects the stock to underperform in the near term. 

Jun 14, 2024
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Why It Moves

Why MSC Industrial (MSM) Shares Are Getting Obliterated Today

Shares of industrial supplies company MSC Industrial Direct (NYSE:MSM) fell 13.8% in the pre-market session after the company provided softer preliminary Q3’2024 results. Q3’24 Net sales is expected to be within $978M-$980M, down 7.3%-7.1% Y/Y and below consensus expectations. As a result, the company lowered FY’2024 guidance and expects yearly ADS (average daily sales) growth of (4.7)% - (4.3)% ( vs. previous expectations of 0% - 5%). Similarly, Adjusted Operating Margin is expected to fall within 10.5% - 10.7% (vs. previous expectations of 12.0% - 12.8%). Management attributed the weak forecast to two factors. 1.) Manufacturing softness and slower-than-anticipated ramp in Core Customers resulted in a lower sequential revenue improvement than anticipated. 2.) Gross margins fell approximately 60 basis points below expectations primarily due to increased product and customer mix headwinds and unexpected dilution from web price realignment.

Jun 14, 2024
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Why It Moves

Why Adobe (ADBE) Stock Is Up Today

Shares of creative software maker Adobe (NASDAQ:ADBE) jumped 17% in the pre-market session after the company reported a “beat and raise” quarter. First-quarter earnings results beat analysts' revenue, remaining performance obligations (RPO – leading revenue indicator), and EPS expectations. These beats were driven by massive outperformance in its net new Digital Media ARR (annual recurring revenue), which clocked in at $487 million (vs estimates of $434 million). Thanks to the strong results, Adobe upgraded its full-year net new Digital Media ARR and EPS guidance, sending the stock price higher. Its revenue guidance for next quarter missed Wall Street's estimates, but that didn't matter too much because the market cares most about its digital media segment. 

Jun 14, 2024
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Why It Moves

Why RH (RH) Stock Is Down Today

Shares of luxury furniture retailer RH (NYSE:RH) fell 17.6% in the morning session after the company reported disappointing first-quarter earnings results: Its adjusted EBITDA and EPS missed analysts' expectations. Looking ahead, next quarter's guidance was below for both revenue growth and adjusted EBITDA margin, showing that the company is not only growing slower but that growth is less profitable. 

Jun 14, 2024
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Why It Moves

Why Bandwidth (BAND) Shares Are Getting Obliterated Today

Shares of communications platform-as-a-service company Bandwidth (NASDAQ: BAND) fell 15.5% in the morning session after Morgan Stanley analyst Meta Marshall downgraded the stock’s rating from Equal-weight (Hold) to Underweight (Sell) and lowered the price target from $18 to $15. 

Jun 14, 2024
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Post-Earnings

Spotting Winners: Travel + Leisure (NYSE:TNL) And Hotels, Resorts and Cruise Lines Stocks In Q1

The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how hotels, resorts and cruise lines stocks fared in Q1, starting with Travel + Leisure (NYSE:TNL).

Jun 14, 2024
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Post-Earnings

Apparel, Accessories and Luxury Goods Stocks Q1 In Review: Stitch Fix (NASDAQ:SFIX) Vs Peers

Let's dig into the relative performance of Stitch Fix (NASDAQ:SFIX) and its peers as we unravel the now-completed Q1 apparel, accessories and luxury goods earnings season.

Jun 14, 2024
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Post-Earnings

Spotting Winners: Seagate Technology (NASDAQ:STX) And Semiconductors Stocks In Q1

The end of an earnings season can be a great time to discover new stocks and assess how companies are handling the current business environment. Let’s take a look at how Seagate Technology (NASDAQ:STX) and the rest of the semiconductors stocks fared in Q1.

Jun 14, 2024
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Post-Earnings

Consumer Subscription Stocks Q1 Earnings: Roku (NASDAQ:ROKU) Firing on All Cylinders

Earnings results often indicate what direction a company will take in the months ahead. With Q1 now behind us, let’s have a look at Roku (NASDAQ:ROKU) and its peers.

Jun 14, 2024
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Post-Earnings

Unpacking Q1 Earnings: Kellanova (NYSE:K) In The Context Of Other Shelf-Stable Food Stocks

Let's dig into the relative performance of Kellanova (NYSE:K) and its peers as we unravel the now-completed Q1 shelf-stable food earnings season.

Jun 14, 2024