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Why Are Nvidia (NVDA) Shares Soaring Today
Shares of leading designer of graphics chips Nvidia (NASDAQ:NVDA) jumped 6.2% in the afternoon session after markets rallied, with the Nasdaq up 2.1%, while the S&P rose 1.1%, following strong earnings from big tech companies including Microsoft and Alphabet. Notably, the earnings highlighted the strong demand for AI solutions, including cutting-edge AI chips that power most AI applications. These chips are developed by Nvidia and its peers.
Why Intel (INTC) Stock Is Trading Lower Today
Shares of computer processor maker Intel (NASDAQ:INTC) fell 10.9% in the morning session after the company reported first-quarter results, with revenue and EPS falling below Wall Street's expectations. Specifically, revenue in the "All Other" segment, which includes Altera and Mobileye, fell below expectations due to inventory headwinds. Intel observed slightly weaker-than-expected trends during the quarter and called out near-term supply constraints. As a result, guidance wasn't encouraging, as revenue and EPS guidance for the next quarter both missed analysts' expectations by a meaningful magnitude.
Why Atlassian (TEAM) Shares Are Trading Lower Today
Shares of IT project management software company, Atlassian (NASDAQ:TEAM) fell 11.9% in the morning session after the company reported first-quarter results with some challenges in the cloud business raising concerns. Management noted that paid seat expansion remained challenged due to continued softness in the SMB segment, which is in line with the trends observed in the previous quarter.
Why Is Columbia Sportswear (COLM) Stock Rocketing Higher Today
Shares of outerwear manufacturer Columbia Sportswear (NASDAQ:COLM) jumped 10.6% in the pre-market session after the company reported a "beat and raise" quarter. First-quarter results blew past analysts 'EPS expectations, and revenue also came in ahead of consensus estimates. However, near-term sales demand is likely to be pressured as the company called out a challenging market in North America due to inflation. Looking ahead, full-year EPS guidance was raised and is above Wall Street's estimates, adding to the positivity of the print.
Why Skechers (SKX) Stock Is Trading Up Today
Shares of footwear company Skechers (NYSE:SKX) jumped 17.4% in the morning session after the company reported a rare 'beat and raise' quarters. Skechers blew past analysts' constant currency revenue expectations. Its operating margin also outperformed Wall Street's estimates. Looking forward to the full year, the company raised its revenue and EPS guidance for 2024, and both are comfortably ahead of analysts' expectations. Overall, this quarter's results seemed fairly positive, and shareholders should feel optimistic.
Why Is Snap (SNAP) Stock Rocketing Higher Today
Shares of social network Snapchat (NYSE: SNAP) jumped 27.5% in the afternoon session after the company reported first-quarter results with revenue beating expectations, driven by better-than-expected daily active users. Its revenue growth and higher operational efficiency also enabled it to post positive EBITDA and free cash flow, beating Wall Street's pessimistic estimates.
Charter's (NASDAQ:CHTR) Q1 Earnings Results: Revenue In Line With Expectations
Cable, internet, and telephone services provider Charter (NASDAQ:CHTR) reported results in line with analysts' expectations in Q1 CY2024, with revenue flat year on year at $13.68 billion. It made a GAAP profit of $7.55 per share, improving from its profit of $6.65 per share in the same quarter last year.
Colgate-Palmolive's (NYSE:CL) Q1 Sales Beat Estimates
Consumer products company Colgate-Palmolive (NYSE:CL) reported Q1 CY2024 results exceeding Wall Street analysts' expectations, with revenue up 6.2% year on year to $5.07 billion. It made a non-GAAP profit of $0.86 per share, improving from its profit of $0.73 per share in the same quarter last year.
Carter's (NYSE:CRI) Exceeds Q1 Expectations But Guidance Disappoints
Children’s apparel manufacturer Carter’s (NYSE:CRI) reported Q1 CY2024 results topping analysts' expectations, with revenue down 4.9% year on year to $661.5 million. On the other hand, next quarter's revenue guidance of $565 million was less impressive, coming in 7.8% below analysts' estimates. It made a non-GAAP profit of $1.04 per share, improving from its profit of $0.98 per share in the same quarter last year.
Mohawk Industries (NYSE:MHK) Beats Q1 Sales Targets
Flooring manufacturer Mohawk Industries (NYSE:MHK) announced better-than-expected results in Q1 CY2024, with revenue down 4.5% year on year to $2.68 billion. It made a non-GAAP profit of $1.86 per share, improving from its profit of $1.75 per share in the same quarter last year.