Latest Stories
Transcat (TRNS) Stock Trades Down, Here Is Why
Shares of measurement equipment distributor Transcat (NASDAQ:TRNS) fell 13.9% in the morning session after the company reported underwhelming third-quarter earnings results, with its revenue, EBITDA, and EPS missing Wall Street's estimates. Management attributed the weakness to the deceleration in Service organic revenue growth which fell below historical trends due to a decline in the Nexa cost control and optimization services business. Overall, this was a softer quarter.
Why IPG Photonics (IPGP) Stock Is Up Today
Shares of fiber laser manufacturer IPG Photonics (NASDAQ:IPGP) jumped 11.3% in the afternoon session after the company reported third-quarter earnings that revealed strong improvement in inventory levels. In addition, its revenue and adjusted EPS outperformed Wall Street's estimates. We note its GAAP EPS and EBITDA fell short of Wall Street's estimates due to a divestiture. Overall, this was a solid quarter.
Why Is Leggett & Platt (LEG) Stock Rocketing Higher Today
Shares of manufacturing company Leggett & Platt (NYSE:LEG) jumped 8% in the morning session after the company reported third-quarter earnings and provided revenue guidance for the next quarter, which blew past analysts' expectations. On the other hand, its EPS forecast for the next quarter missed. Overall, this was a mixed yet decent quarter.
Why H&E Equipment Services (HEES) Stock Is Nosediving
Shares of machinery provider H&E (NASDAQ:HEES) fell 9.8% in the morning session after the company reported underwhelming third-quarter earnings results. Its EPS missed, and its revenue fell short of Wall Street's estimates.
Why Is ESAB (ESAB) Stock Rocketing Higher Today
Shares of welding and cutting equipment manufacturer ESAB (NYSE:ESAB) jumped 11.5% in the afternoon session after the company reported impressive third-quarter earnings results that blew past analysts' revenue expectations. Its organic revenue also topped Wall Street's estimates.
Why Is Hayward (HAYW) Stock Soaring Today
Shares of pool equipment and automation systems manufacturer Hayward Holdings (NYSE:HAYW) jumped 8.2% in the morning session after the company reported a "beat and raise" quarter. Third-quarter results blew past analysts' revenue and EBITDA expectations. In addition, it lifted its full-year revenue and EBITDA guidance. Zooming out, we think this was a strong quarter.
Why Is Leidos (LDOS) Stock Soaring Today
Shares of defense contractor Leidos (NYSE:LDOS) jumped 9.2% in the afternoon session after the company reported a "beat and raise" quarter. LDOS reported impressive third-quarter earnings results that blew past analysts' backlog expectations. In addition, its revenue and EPS outperformed Wall Street's estimates. Full year guidance was raised as icing on the cake. The strong performance was attributed to improved demand in all customer segments, especially managed health services. Zooming out, we think this quarter featured some important positives.
Why Are Commvault Systems (CVLT) Shares Soaring Today
Shares of data backup provider Commvault (NASDAQ:CVLT) jumped 20.9% in the afternoon session after the company reported a "beat and raise" quarter. Third-quarter results exceeded analysts' expectations for key top line indicators, including ARR (annual recurring revenue) and billings. Notably, revenue growth accelerated, up 16% y/y (vs 13% y/y in the previous quarter), as management called out strong demand for the Commvault Cloud platform.
Why Douglas Dynamics (PLOW) Shares Are Trading Lower Today
Shares of snow and ice equipment company Douglas Dynamics (NYSE:PLOW) fell 13.8% in the afternoon session after the company reported underwhelming third-quarter earnings results and provided full-year revenue and EBITDA guidance, which fell short of Wall Street's estimates. Notably, sales declined year on year, and the topline weakness was attributed to low snowfall in recent snow seasons, leading to lower volumes. Overall, this was a weaker quarter.
Corning (NYSE:GLW) Misses Q3 Sales Targets, But Stock Soars 7.1%
Glass and electronic component manufacturer Corning (NYSE:GLW) missed Wall Street’s revenue expectations in Q3 CY2024, with sales falling 2% year on year to $3.39 billion. On the other hand, next quarter’s outlook exceeded expectations with revenue guided to $3.75 billion at the midpoint, or 2.7% above analysts’ estimates. Its non-GAAP profit of $0.54 per share was 3.1% above analysts’ consensus estimates.