Latest Stories
WW (NASDAQ:WW) Surprises With Q1 Sales
Personal wellness company WW (NASDAQ:WW) reported Q1 CY2024 results topping analysts' expectations, with revenue down 14.6% year on year to $206.5 million. The company expects the full year's revenue to be around $845 million, in line with analysts' estimates. It made a GAAP loss of $4.39 per share, down from its loss of $1.68 per share in the same quarter last year.
Asure (NASDAQ:ASUR) Surprises With Q1 Sales, Provides Optimistic Full-Year Guidance
Online payroll and human resource software provider Asure (NASDAQ:ASUR) reported Q1 CY2024 results exceeding Wall Street analysts' expectations, with revenue down 4.3% year on year to $31.65 million. The company expects next quarter's revenue to be around $28.5 million, in line with analysts' estimates. It made a GAAP loss of $0.01 per share, down from its profit of $0.02 per share in the same quarter last year.
Why Are Kellanova (K) Shares Soaring Today
Shares of packaged foods company Kellanova (NYSE:K) jumped 8.2% in the morning session after the company reported first-quarter results, which blew past analysts' organic revenue growth expectations. Its EPS also outperformed Wall Street's estimates. The topline endured headwinds driven by FX volatility as well as the divestiture of its business in Russia. On the other hand, its gross margin missed analysts' expectations, and its operating margin missed Wall Street's estimates. Zooming out, we think this was still a decent, albeit mixed, quarter, showing that the company is staying on track.
Why MGP Ingredients (MGPI) Stock Is Up Today
Shares of food and beverage supplier MGP Ingredients (NASDAQGS:MGPI) jumped 6.8% in the afternoon session after the company reported first-quarter results that beat analysts' revenue and EPS expectations. However, sales declined by 15% (otherwise flat) in absolute terms due to the closure of the Atchison distillery. The closure is anticipated to be a headwind to growth and was baked into the full-year revenue guidance, which came in below expectations. However, it maintained full-year EPS guidance, which is in line with expectations. Overall, it was a decent quarter for the company showing that the business is staying on track.
Atlassian (TEAM) Stock Trades Up, Here Is Why
Shares of IT project management software company, Atlassian (NASDAQ:TEAM) jumped 8.1% in the afternoon session after the company provided optimistic financial projections during its 2024 investor day session. Atlassian provided initial FY27 targets, including a 20% + revenue CAGR for FY'27, while maintaining >25% operating margins. This implies that the company will hit the $10B revenue mark within the next 5 years. The topline is expected to continue to benefit from the gradual migration to its cloud platform. For the first time, the company provided detailed revenue figures for its leading products. Jira software recorded annual revenue of $1.7B (with growth outpacing the overall revenue). Confluence revenue was pegged at $1B (in-line growth), and JSM (Jira Service management) came in at $600M. Overall, the guidance was promising and highlighted the abundant growth opportunity within the cloud space.
Why Is Monolithic Power Systems (MPWR) Stock Soaring Today
Shares of power management chips maker Monolithic Power Systems (NASDAQ:MPWR) jumped 9.3% in the afternoon session after the company reported first quarter results which blew past analysts' EPS expectations. Next quarter's revenue guidance also came in higher than Wall Street's estimates, as the company observed "consistently upward ordering patterns." Notably, demand for AI servers was strong, growing over 200% year on year, and driving roughly a third of revenues. The strong performance in the enterprise data business likely assured investors that MPWR remained Nvidia's major supplier of AI servers. However, like most of the semiconductor companies that have reported earnings this season, MPWR maintained a cautious tone regarding business conditions in the second half of the year. On the other hand, its gross margin declined, and its operating margin decreased. Overall, this quarter's results still seemed fairly positive, and shareholders should feel optimistic.
Kontoor Brands (KTB) Stock Trades Up, Here Is Why
Shares of clothing company Kontoor Brands (NYSE:KTB) jumped 10.4% in the morning session after the company reported first quarter results that blew past analysts' EPS expectations, driven by outperformance in its constant currency revenue growth and gross margin. It also reduced its inventory levels by 24% year on year. Looking ahead, Kontoor Brands raised its full-year EPS guidance, a great sign for investors (especially amongst a weaker consumer discretionary market backdrop). Overall, we think this was still a really good quarter that should please shareholders.
Frontdoor (FTDR) Shares Skyrocket, What You Need To Know
Shares of home warranty company Frontdoor (NASDAQ:FTDR) jumped 7.7% in the afternoon session after the company reported first-quarter results that blew past analysts' adjusted EBITDA and EPS expectations. The top line benefited from a price increase (+11%), which more than offset the decline in volume (-8%). While its full-year revenue guidance was maintained, the company raised its full-year adjusted EBITDA guidance, showing that growth is as expected, but it's coming in more profitably. Overall, this quarter's results seemed fairly positive, and shareholders should feel optimistic.
Why Is Sprouts (SFM) Stock Rocketing Higher Today
Shares of grocery store chain Sprouts Farmers Market (NASDAQ:SFM) jumped 15.2% in the afternoon session after the company reported first-quarter results with same-store sales above expectations, leading to a revenue and, ultimately, an EPS beat. Sprouts's optimistic earnings forecast for the next quarter and the full year were impressive, which beat analysts' expectations. Zooming out, we think this was a great quarter that shareholders will appreciate.
Why Is Wayfair (W) Stock Soaring Today
Shares of online home goods retailer Wayfair (NYSE: W) jumped 18.6% in the morning session after the company reported first quarter results that beat analysts' revenue and adjusted EBITDA expectations. Q2 guidance, which was given on the earnings call, was also comforting as it was lin line to slightly above expectations. Specifically, Wayfair expects Q2 revenue to be flat to slightly up year on year compared to Q2 last year, in line with expectations. Adjusted EBITDA margin in Q2 is expected to be in the mid-single digit percentage range, which leaves some room for the company to exceed current expectations. On the other hand, its revenue growth slowed. Overall, this was a solid quarter for Wayfair.