Latest Stories
Why GoPro (GPRO) Shares Are Getting Obliterated Today
Shares of action camera company GoPro (NASDAQ:GPRO) fell 10.3% in the afternoon session after the company announced plans to cut its workforce by 26% as part of an updated restructuring plan, up from the initial target of 15%. A restructuring plan is often part of initiatives to improve business efficiency, leading to improved cost savings and a better liquidity profile.
Reddit’s (NYSE:RDDT) Q3: Strong Sales, Stock Jumps 41.7%
Online community and discussion platform Reddit (NYSE:RDDT) reported Q3 CY2024 results topping the market’s revenue expectations, with sales up 67.9% year on year to $348.4 million. On top of that, next quarter’s revenue guidance ($392.5 million at the midpoint) was surprisingly good and 8.5% above what analysts were expecting. Its GAAP profit of $0.16 per share was also 344% above analysts’ consensus estimates.
Vulcan Materials (NYSE:VMC) Misses Q3 Revenue Estimates
Construction materials company Vulcan Materials (NYSE:VMC) met Wall Street’s revenue expectations in Q3 CY2024, but sales fell 8.3% year on year to $2.00 billion. Its non-GAAP profit of $2.22 per share was 4.1% below analysts’ consensus estimates.
Gates Industrial Corporation (NYSE:GTES) Reports Q3 In Line With Expectations, Stock Soars
Power transmission and fluid power solutions provider Gates Corporation (NYSE:GTES) met Wall Street’s revenue expectations in Q3 CY2024, but sales fell 4.8% year on year to $830.7 million. Its non-GAAP profit of $0.33 per share was 8.1% above analysts’ consensus estimates.
Wingstop (NASDAQ:WING) Surprises With Q3 Sales But Stock Drops 15.8%
Fast-food chain Wingstop (NASDAQ:WING) beat Wall Street’s revenue expectations in Q3 CY2024, with sales up 38.8% year on year to $162.5 million. Its GAAP profit of $0.88 per share was 7.6% below analysts’ consensus estimates.
Illinois Tool Works (NYSE:ITW) Reports Sales Below Analyst Estimates In Q3 Earnings
Manufacturing company Illinois Tool Works (NYSE:ITW) fell short of the market’s revenue expectations in Q3 CY2024, with sales falling 1.6% year on year to $3.97 billion. Its GAAP profit of $3.91 per share was 55.1% above analysts’ consensus estimates.
Gibraltar (NASDAQ:ROCK) Reports Q3 In Line With Expectations
Renewable energy and infrastructure solutions provider Gibraltar Industries (NASDAQ:ROCK) met Wall Street’s revenue expectations in Q3 CY2024, but sales fell 7.6% year on year to $361.2 million. The company’s outlook for the full year was also close to analysts’ estimates with revenue guided to $1.32 billion at the midpoint. Its GAAP profit of $1.11 per share was 4.6% below analysts’ consensus estimates.
Clean Harbors (NYSE:CLH) Exceeds Q3 Expectations But Stock Drops
Environmental and industrial services company Clean Harbors (NYSE:CLH) beat Wall Street’s revenue expectations in Q3 CY2024, with sales up 12% year on year to $1.53 billion. Its GAAP profit of $2.12 per share was 3.2% below analysts’ consensus estimates.
Leonardo DRS (NASDAQ:DRS) Beats Expectations in Strong Q3, Provides Encouraging Full-Year Guidance
Aerospace and defense company Leonardo DRS (NASDAQ:DRS) reported Q3 CY2024 results topping the market’s revenue expectations, with sales up 15.5% year on year to $812 million. The company’s full-year revenue guidance of $3.18 billion at the midpoint also came in 1.2% above analysts’ estimates. Its GAAP profit of $0.21 per share was also 27.3% above analysts’ consensus estimates.
Kraft Heinz (NASDAQ:KHC) Misses Q3 Revenue Estimates
Packaged foods company Kraft Heinz (NASDAQ:KHC) met Wall Street’s revenue expectations in Q3 CY2024, but sales fell 2.8% year on year to $6.38 billion. Its non-GAAP profit of $0.75 per share was 1.2% above analysts’ consensus estimates.