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Ross Stores (NASDAQ:ROST) Reports Sales Below Analyst Estimates In Q3 Earnings, But Stock Soars 5.2%
Off-price retail company Ross Stores (NASDAQ:ROST) fell short of the market’s revenue expectations in Q3 CY2024 as sales rose 3% year on year to $5.07 billion. Its GAAP profit of $1.48 per share was 6% above analysts’ consensus estimates.
Intuit’s (NASDAQ:INTU) Q3: Beats On Revenue But Stock Drops
Tax and accounting software provider, Intuit (NASDAQ:INTU) reported Q3 CY2024 results exceeding the market’s revenue expectations, with sales up 10.2% year on year to $3.28 billion. On the other hand, next quarter’s revenue guidance of $3.83 billion was less impressive, coming in 1.3% below analysts’ estimates. Its non-GAAP profit of $2.50 per share was 6% above analysts’ consensus estimates.
Three Reasons to Avoid WW and One Stock to Buy Instead
WeightWatchers’s stock price has taken a beating over the past six months, shedding 40.1% of its value and falling to $1.03 per share. This might have investors contemplating their next move.
Three Reasons to Avoid TDUP and One Stock to Buy Instead
ThredUp’s stock price has taken a beating over the past six months, shedding 36.7% of its value and falling to $1.31 per share. This might have investors contemplating their next move.
Why Is Deere (DE) Stock Soaring Today
Shares of agricultural and construction machinery company Deere (NYSE:DE) jumped 8.5% in the afternoon session after the company reported impressive third-quarter results that exceeded analysts' revenue and EPS estimates. Looking ahead, the company initiated fiscal 2025 guidance, calling for revenues down 10-15% year on year. While this may sound like a negative, it does show that end markets are not getting worse and may be reaching a trough. Zooming out, we think this was a good quarter with guidance showing that demand may be hitting a bottom in 2025 and poised for an uptick thereafter, especially if themes like reshoring and industrial automation become more real.
Why Alphabet (GOOGL) Stock Is Down Today
Shares of online advertising giant Alphabet (NASDAQ:GOOGL) fell 6.5% in the morning session after the Department of Justice proposed changes to limit Google's control over online search and ads, following a court ruling that found the company (GOOGL) unfairly blocked competition for over a decade. The ruling includes recommendations for Google to sell key assets like Chrome and, potentially, Android to reduce its market dominance. Market reactions indicate that investors are anticipating these changes, recognizing the critical role the assets affected by the proposal play in Google's growth strategy.
Why Are Snowflake (SNOW) Shares Soaring Today
Shares of data warehouse-as-a-service Snowflake (NYSE:SNOW) jumped 32.4% in the morning session after the company reported a strong "beat and raise" quarter. It was encouraging to see Snowflake exceed analysts' revenue expectations this quarter (fiscal Q3'2025) with a net revenue retention rate (NRR) that didn't fall at all from last quarter.
Why Warner Music Group (WMG) Shares Are Plunging Today
Shares of global music entertainment company Warner Music Group (NASDAQ:WMG) fell 10.2% in the afternoon session after the company reported weak third-quarter earnings, which missed analysts' EPS estimates significantly. Its Sales in the Recorded Music business also fell short of Wall Street's estimates. Overall, this was a softer quarter.
Why Is MongoDB (MDB) Stock Soaring Today
Shares of database software company MongoDB (MDB) jumped 17.5% in the afternoon session after fellow data analytics software provider Snowflake reported impressive third-quarter results, which surpassed analysts' revenue and earnings expectations. Customer retention also normalized, suggesting some of the demand headwinds that hindered the growth of some enterprise software businesses are fading, especially those with more exposure to small and mid-sized businesses. The improved trends are also supported by Snowflake's strong sales outlook, which exceeded consensus estimates. Overall, the results revealed signs of improved demand within the data analytics segment.
Why BJ's (BJ) Stock Is Trading Up Today
Shares of membership-only discount retailer BJ’s Wholesale Club (NYSE:BJ) jumped 11.7% in the morning session after the company reported strong third-quarter results which blew past analysts' EPS expectations. Full-year EPS guidance was also raised, which is promising. While sales were in line with expectations, management called out some encouraging demand indicators as it hit a milestone of 7.5 million Club members. The company also announced plans for the first membership fee increase in seven years, effective January 1, 2025. The fee increase should boost sales and margins if demand trends maintain the improved momentum. Overall, we think this was still a solid quarter with some key areas of upside, especially after Target (NYSE:TGT) missed badly the previous day.