Latest Stories
BrightView (NYSE:BV) Surprises With Q3 Sales
Landscaping service company BrightView (NYSE:BV) announced better-than-expected revenue in Q3 CY2024, but sales fell 2% year on year to $728.7 million. The company expects the full year’s revenue to be around $2.80 billion, close to analysts’ estimates. Its non-GAAP profit of $0.30 per share was 1.8% below analysts’ consensus estimates.
No Surprises In Kulicke and Soffa’s (NASDAQ:KLIC) Q3 Sales Numbers But Quarterly Guidance Underwhelms
Semiconductor production equipment company Kulicke & Soffa (NASDAQ: KLIC) met Wall Street’s revenue expectations in Q3 CY2024, but sales fell 10.4% year on year to $181.3 million. On the other hand, next quarter’s revenue guidance of $165 million was less impressive, coming in 8% below analysts’ estimates. Its non-GAAP profit of $0.34 per share was 3.5% below analysts’ consensus estimates.
Tetra Tech (NASDAQ:TTEK) Exceeds Q3 Expectations But Stock Drops
Consulting and engineering services company Tetra Tech (NASDAQ:TTEK) reported Q3 CY2024 results topping the market’s revenue expectations, with sales up 30% year on year to $1.37 billion. Guidance for next quarter’s revenue was better than expected at $1.12 billion at the midpoint, 1.7% above analysts’ estimates. Its GAAP profit of $0.35 per share was in line with analysts’ consensus estimates.
Sonos’s (NASDAQ:SONO) Q3 Sales Beat Estimates
Audio technology Sonos company (NASDAQ:SONO) beat Wall Street’s revenue expectations in Q3 CY2024, but sales fell 16.3% year on year to $255.4 million. Its non-GAAP loss of $0.18 per share was in line with analysts’ consensus estimates.
Why Chegg (CHGG) Shares Are Trading Lower Today
Shares of online study and academic help platform Chegg (NYSE:CHGG) fell 21.1% in the morning session after the company reported disappointing third-quarter results. Its number of users declined, and this figure fell short of Wall Street's estimates. Looking ahead, revenue and EBITDA guidance for the next quarter also missed. Overall, this quarter was mediocre, and with the market thinking that Chegg's business will be decimated by AI, the company needs much better quarters to convince investors otherwise and get the stock up.
BeautyHealth (SKIN) Stock Trades Up, Here Is Why
Shares of skincare company BeautyHealth (NASDAQ:SKIN) jumped 18.2% in the morning session after the company reported impressive third-quarter earnings that blew past analysts' EBITDA and EBITDA guidance expectations. Notably, the company turned a profit while Wall Street had predicted a loss. Revenue also beat expectations, though sales declined relative to the previous year. The decline in revenue was primarily due to challenges in system sales, particularly in international markets like China. As a result, the company reduced its full-year sales outlook. To overcome some of the challenges impeding growth, the company revamped its commercial leadership team and appointed a new Chief Revenue Officer and Chief Marketing Officer with more relevant expertise. Also, it provided more flexible pricing for markets affected by high interest rates and limited financing availability.
Why Is Rocket Lab (RKLB) Stock Rocketing Higher Today
Shares of aerospace and defense company Rocket Lab (NASDAQ:RKLB) jumped 53.4% in the morning session after the company reported impressive third-quarter results and provided an optimistic EBITDA forecast for the next quarter, which blew past analysts' expectations. Its revenue and EBITDA both outperformed Wall Street's estimates in the quarter. The performance was largely driven by strong demand in its space systems segment. Zooming out, we think this was a very good quarter.
Why Rivian (RIVN) Stock Is Trading Up Today
Shares of electric vehicle manufacturer Rivian (NASDAQ:RIVN) jumped 21.3% in the morning session after the company announced a joint venture with vehicle manufacturer Volkswagen Group, valued at up to $5.8 billion, starting November 13, 2024. The joint venture is expected to help both companies develop next-generation electrical architecture and software technology for electric vehicles, covering all relevant vehicle segments, including subcompact cars.
Why ZoomInfo (ZI) Shares Are Sliding Today
Shares of sales intelligence platform ZoomInfo fell 19.1% in the morning session after the company reported weak third-quarter earnings. Its EPS guidance for the next quarter fell short of Wall Street's estimates, and the outlook is weighing on shares. Big picture, the market is worried that AI will be a huge headwind to ZoomInfo's business, and to convince the market otherwise, more convincing beats and guides above expectations are needed.
Why Cloudflare (NET) Stock Is Trading Up Today
Shares of internet security and content delivery network Cloudflare (NYSE:NET) jumped 8.3% in the morning session after Citi analyst updated the stock's price target from $90 to $95. The analyst noted that the Q3'2024 earnings included "encouraging qualitative generative AI commentary and traction in Cloudflare's PoF (Pool of Funds) deals." Since the company reported results on November 7th, 2024 and the stock retreated, several Wall Street analysts have defended. They pointed out that the quarter was solid and that future prospects, especially the Workers Edge AI platform, are bright.