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Spotting Winners: Allegro MicroSystems (NASDAQ:ALGM) And Processors and Graphics Chips 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 processors and graphics chips stocks fared in Q1, starting with Allegro MicroSystems (NASDAQ:ALGM).
Unpacking Q1 Earnings: Akamai (NASDAQ:AKAM) In The Context Of Other Software Development Stocks
As the craze of earnings season draws to a close, here's a look back at some of the most exciting (and some less so) results from Q1. Today, we are looking at software development stocks, starting with Akamai (NASDAQ:AKAM).
Coursera's (NYSE:COUR) Q2 Sales Beat Estimates, Stock Jumps 16.5%
Online learning platform Coursera (NYSE:COUR) reported Q2 CY2024 results exceeding Wall Street analysts' expectations, with revenue up 10.8% year on year to $170.3 million. On the other hand, next quarter's revenue guidance of $173 million was less impressive, coming in 3.3% below analysts' estimates. It made a GAAP loss of $0.15 per share, improving from its loss of $0.21 per share in the same quarter last year.
Why Orion (ORN) Shares Are Falling Today
Shares of marine infrastructure company Orion (NYSE:ORN) fell 27.7% in the morning session after the company reported second-quarter earnings results: Unfortunately, its revenue, adjusted EBITDA, and EPS all fell short of Wall Street's estimates as the company suffered logistics setbacks due to the slower ramp of two large projects. This setback is expected to lead to a shift in revenue recognition. As a result, management lowered full-year revenue to $850 million to $900 million and adjusted EBITDA to $40 million to $45 million. Overall, this was a challenging quarter.
Impinj (PI) Shares Skyrocket, What You Need To Know
Shares of RFID manufacturer Impinj (NASDAQ:PI) jumped 8.9% in the morning session after the company reported second-quarter earnings results. Impinj beat analysts' revenue, adjusted EBITDA, and EPS expectations. Notably, the topline benefitted from strong IC (integrated circuit) sales, which grew 45% sequentially, and 38% year on year. Additionally, its revenue guidance for the next quarter was higher than expected. Overall, this was a strong quarter that should satisfy shareholders.
Why Ford (F) Shares Are Falling Today
Shares of automotive manufacturer Ford (NYSE:F) fell 17.2% in the morning session after the company reported second-quarter earnings results. Its operating income and EPS missed by a large magnitude due to warranty issues and inflationary pressure on repair costs. Adding to the pricing pressure, the Ford Model E business recorded a $1.1 billion loss due to industry pricing pressures and wholesale declines. Profitability outlook wasn't encouraging as its full year operating income guidance missed.
Why Teradyne (TER) Shares Are Falling Today
Shares of semiconductor testing company Teradyne (NASDAQ:TER) fell 15.3% in the afternoon session after the company reported second-quarter earnings results. Its revenue guidance for next quarter missed analysts' expectations. On the other hand, Teradyne recorded strong improvement in inventory levels, and its EPS outperformed Wall Street's estimates. The guidance seems to be weighing on shares, and the stock traded down as a result.
Why Bally's (BALY) Stock Is Up Today
Shares of gaming, betting and entertainment company Bally's Corporation (NYSE:BALY) jumped 24.6% in the afternoon session after the company announced it has that it agreed to be acquired by Standard General L.P (the company's largest shareholder). According to the press release, Standard General will acquire shares of Bally's it doesn't already own for $18.25/share. This price represents a 71% premium over BALY's 30-day volume-weighted average price per share as of March 8, implying an enterprise value of $4.6 billion.
Mohawk Industries (NYSE:MHK) Misses Q2 Revenue Estimates, But Stock Soars 9.7% On Q3 Guide
Flooring manufacturer Mohawk Industries (NYSE:MHK) fell short of analysts' expectations in Q2 CY2024, with revenue down 5.1% year on year to $2.80 billion. It made a non-GAAP profit of $3 per share, improving from its profit of $2.76 per share in the same quarter last year.
Boston Beer (NYSE:SAM) Posts Better-Than-Expected Sales In Q2 But Stock Drops
Beer company Boston Beer (NYSE:SAM) reported Q2 CY2024 results beating Wall Street analysts' expectations, with revenue up 1.8% year on year to $614.2 million. It made a GAAP profit of $4.39 per share, down from its profit of $4.73 per share in the same quarter last year.