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10:39 a.m. Today - By Alessandra Malito
I’m a 57-year-old nurse with no retirement savings and I want to retire within seven years. What can I do? Have a question about retirement, including where to retire? Email HelpMeRetire@marketwatch.com Have a question about retirement, including where to retire? Email HelpMeRetire@marketwatch.com
5:00 a.m. May 7, 2021 - By MarketWatch
A million new jobs? That’s how many Wall Street thinks the U.S. created in AprilThe U.S. might have created a million jobs in April --- or more --- as the economic recovery spread across the country and reached businesses that suffered the most in the first year of the pandemic.
4:46 a.m. May 7, 2021 - By Tomi Kilgore
Nikola stock rises, toward snapping 8-day losing streak, after narrower-than-expected lossShares of Nikola Corp. rallied 3.6% in premarket trading Friday, putting them on an early track to snap a 8-session losing streak, after the electric vehicle maker reported a narrower-than-expected first-quarter loss while reporting no revenue, which was in line with forecasts. Net losses widened to $120.2 million, or 31 cents a share, from $33.1 million, or 12 cents a share, in the year-ago period. Excluding nonrecurring items, the adjusted per-share loss widened to 14 cents from 12 cents but beat the FactSet loss consensus of 27 cents. There was no revenue, after solar revenue of $58,000 a year ago. Looking ahead, the company expects to deliver the first Nikola Tre battery-electric vehicle (BEV) to customers during the fourth quarter of 2021, to break ground on the first commercial hydrogen station i 2021 and start vehicle trial production at its JV facility in Germany in June and at its facility in Arizona in July. The stock, which has tumbled 17.9% over the past eight sessions, has dropped 33.6% year to date through Thursday, while the S&P 500 has gained 11.9%.
3:50 a.m. May 7, 2021 - By Tomi Kilgore
DraftKings stock turns up after loss quadruples to miss expectations, but revenue triples to beat forecastsShares of DraftKings Inc. rose 1.4% in premarket trading Friday, reversing an earlier loss, after the sports betting company reported a first-quarter loss that more than quadrupled and was wider than expected, but revenue that nearly tripled to beat forecasts and raised its full-year outlook. The net loss, which was not provided in the earnings press release, increased to $346.3 million from $82.1 million in the year-ago period. The FactSet consensus for net losses was $200.1 million. Revenue rose 252.6% to $312.3 million, well above above the FactSet consensus of $236.2 million. (The company did not immediately respond to a request for comment on why it did not provide net-loss information on the public release.) Cost of revenue grew 167.6 million to $183.2 million while sales and marketing increased 299.3% to $228.7 million. Monthly unique payers (MUP) increased 114%, with an average of 1.5 million MUPs engaged each month, while average revenue per MUP increased 48% to $61, helping by increased engagement with iGaming and mobile sports betting offerings. The stock has tumbled 18.8% over the past three months through Thursday, while the S&P 500 has gained 8.1%.
3:49 a.m. May 7, 2021 - By Ciara Linnane
Cronos shares slide premarket after earnings fall short of estimatesCronos Group Inc.'s U.S.-listed shares slid 4.2% in premarket trading Friday, after the Canadian cannabis company posted weaker-than-expected earnings for the first quarter. Cronos said it had a net loss of C$161.6 million ($132.7 million), or 44 cents a share, in the quarter, after income of C$75.7 million, or 20 cents a share, in the year-earlier period. Revenue net of excise taxes came to C$12.6 million, up from C$8.43 million a year ago. The FactSet consensus was for a loss of 11 cents a share and revenue of C$20.2 million. Chief Executive Kurt Schmidt said earnings were in Canada were impacted by "market dynamics due to the COVID-19 pandemic and ensuing stay-at-home orders and various other restrictions." The company's adult-use brand named Spinach will launch edibles in the coming weeks, a new category for the Canadian market. Shares have gained 10% in the year to date, while the Cannabis ETF has gained 36% and the S&P 500 has gained 11.9%.
3:17 a.m. May 7, 2021 - By Ciara Linnane
AMC Networks profit beats estimates but revenue falls shortAMC Networks Inc. posted better-than-expected profit for the first quarter on Friday, but revenue fell short of estimates. The network said it had net income of $237.9 million, or $2.02 a share, in the quarter, up 7% from $222.5 million, or $1.22 a share, in the year-earlier period. Excluding restructuring charges and other special items, adjusted per-share earnings came to $2.98, a full dollar ahead of the $1.98 FactSet consensus. Revenue fell 5.8% to $691.7 million from $734.4 million, missing the $724.0 million FactSet consensus. The company overhauled its reporting of operating segments in the quarter, to reflect a reorganized operating structure focused on a multi-platform distribution approach. Streaming services and IFC Films are now included in domestic operations, and not international and other, as they were before. The company booked restructuring charges of $4.1 million in the quarter, relating to severance and other personnel costs, as well as $4.5 million relating to costs to terminate distribution in certain territories. Shares were not yet active premarket, but have gained 27% in the year to date, while the S&P 500 has gained 11.9%.
2:56 a.m. May 7, 2021 - By Tomi Kilgore
USA Today parent Gannett reports wider loss and lower revenue, while digital-only revenue increasesUSA Today parent Gannett Co. Inc. reported Friday a wider net loss on revenue that fell more than some analysts expected, citing negative impacts from the COVID-19 pandemic as well as "general trends" hurting the publishing industry. The Net loss widened to $142.3 million, or $1.06 a share, from $80.2 million, or 61 cents a share, in the year-ago period. Revenue dropped 18.1% to $777.1 million, as advertising and marketing services revenue declined 20.3% and circulation revenue fell 13.2% to $325.4 million. The average estimate of two analysts surveyed by FactSet were for a per-share loss of 13 cents and revenue of $792 million. Digital-only circulation revenue rose 46.7% to $23.2 million, while digital advertising and marketing services revenue reached $195.2 million or 25.2% of total revenue. The stock, which was still inactive in premarket trading, has lost 5.7% over the past three months while the S&P 500 has gained 8.1%.
2:46 a.m. May 7, 2021 - By Ciara Linnane
Spectrum Brands blows past estimates, raises FY21 sales guidanceSpectrum Brands Holdings Inc. posted stronger-than-expected earnings for its fiscal third quarter Friday, and raised its fiscal 2021 guidance. The owner of household brands swung to a profit of $36.8 million, or 88 cents a share, in the quarter to March 29, from a loss of $59.2 million, or $1.29 a share, in the year-earlier period. Adjusted per-share earnings came to $1.76, well ahead of the 99 cents FactSet consensus. Sales rose to $1.149 billion from $937.8 million, also ahead of the $1.032 billion FactSet consensus. Sales at the company's hardware and home improvement division rose 18.4% to $389.5 million. "Security sales reflected growth across retail, e-commerce and new build channels," the company said. Home and personal care sales rose 28% to $297.9 million, driven by strength in small kitchen appliances. Pet care sales rose 23.9% to $293.6 million, driven by aquatics and companion animal categories, while home and garden sales rose 21% to $168.8 million. Spectrum Brands is now expecting fiscal 2021 sales to rise by double-digits, compared with earlier guidance of high single-digit growth. The company is raising its total savings gross target from productivity improvements to $200 million from $150 million. The board has approved a new 3-year, $1 billion share buyback program. Shares were not yet active premarket, but have gained 16% in the year to date, while the S&P 500 has gained 11.9%.
2:43 a.m. May 7, 2021 - By Tomi Kilgore
Cinemark stock gains after loss widens more than expected but revenue beats forecastsShares of Cinemark Holdings Inc. climbed 0.8% in premarket trading Friday, after the movie theater operator reported a wider-than-expected first-quarter loss but revenue that fell less than expected, as admissions and concessions revenue both topped forecasts. The net loss widened to $208.2 million, or $1.75 a share, from $59.6 million, or 51 cents a share in the year-ago period. The FactSet consensus for net per-share losses was $1.44. Total revenue dropped 79% to $114.4 million, but beat the FactSet consensus of $92.6 million. Admissions revenue fell 80.8% to $56.1 million, but topped expectations of $45.8 million, while concessions revenue declined 79.3% to $39.5 million to beat expectations of $28.9 million. "We are highly optimistic about theatrical exhibition's resurgence in the U.S. over the coming months on account of a range of factors, including the rapid pace of the vaccine rollout, improving consumer sentiment about returning to movie theaters, recent box office successes and confirmation of consistent product supply," said Chief Executive Mark Zoradi. The company said its screen count was 5,872 as of March 31, and it had commitments to open six new theaters with 72 screens this year, and 13 new theaters with 123 screens after 2021. The stock has advanced 17.7% year to date through Thursday, while the S&P 500 has gained 11.9%.
2:12 a.m. May 7, 2021 - By Tomi Kilgore
Cigna stock gains, as profit and revenue rise above expectationsShares of Cigna Corp. gained 0.5% in premarket trading Friday, after the health services company reported first-quarter profit and revenue that rose above expectations, as total customer relationships grew 14% and pharmacy customers increased 28%. Net income was $1.16 billion, or $3.30 a share, compared with $1.18 billion, or $3.15 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share rose to $4.73 from $4.69, beating the FactSet consensus of $4.37. Revenue grew 6.5% to $40.97 billion, above the FactSet consensus of $40.21 billion. Customer relationships increased to 189.9 million from 167.0 million, as pharmacy customers rose to 101.0 million from 78.8 million. Cigna's stock has rallied 23.4% year to date through Thursday, while the S&P 500 has advanced 11.9%.
12:58 p.m. May 6, 2021 - By Claudia Assis
Bill.com stock rallies on narrower loss, higher sales for fiscal Q3Bill.com Holdings Inc. shares rallied more than 12% in the extended session Thursday after the software company that provides back-office software for businesses reported a narrower fiscal third-quarter adjusted loss and sales that topped views. Bill.com said it lost $26.7 million, or 32 cents a share, in the quarter, compared with a net loss of $8.3 million, or 11 cents a share, in the fiscal third quarter of 2020. Adjusted for one-time items, the company lost $1.7 million, or 2 cents a share. Sales rose 45% to $59.7 million. Analysts polled by FactSet expected an adjusted loss of 7 cents a share on sales of $54.6 million. The company guided for fiscal fourth-quarter revenue between $60.9 million and $61.9 million, and an adjusted loss between 5 cents a share and 4 cents a share. In a separate press release, Bill.com said it has agreed to buy Divvy, a maker of expense-management software, for about $2.5 billion. Both boards have approved the cash and stock deal, expected to close by the end of Bill.com's September quarter.
12:09 p.m. May 6, 2021 - By Mark Decambre
Dow jumps over 300 points to log 23rd record close in 2021 and S&P 500 ends back above 4,200 amid late-session surgeU.S. stocks on Thursday finished a tumultous day firmly in positive territory and the Dow registered back-to-back record closes, supported by a round of strong corporate earnings and signs of continued improvement in the labor market as reflected in the jobless claims report ahead of a closely followed employment report due on Friday. The Dow Jones Industrial Average closed up by about 315 points, or 0.9%, to a record at 34,546, powered by gains in Goldman Sachs Group Inc. and Home Depot . The all-time closing high was the 23rd for the blue-chip index in 2021, outstripping all of the records produced in 2020, according to Dow Jones Market Data. The S&P 500 index closed up 0.8% at 4,200, while the Nasdaq Composite Index ended 0.4% higher at 13,633, snapping a four-session skid. A 1.4% rally in financials and a 1% rally in the technology sector helped to support Thursday's advance, which came as initial unemployment claims in the U.S. fell to 498,000 for first time in pandemic era, pointing to an improving labor market but also raising questions for some investors about the specter of rapidly rising inflation.
6:31 a.m. May 6, 2021 - By Tonya Garcia
Wendy's takes a break from the chicken sandwich war to launch a cheeseburgerWendy's Co. said Thursday that it's launching the Bourbon Bacon Cheeseburger, offering the item for free between May 6 and May 9 with a $15 purchase on Postmates. The launch is notable after months in which fast-food chains have battled over dominance in the chicken category, with competitors like McDonald's Corp. among those . Chicken has become so prominent on fast-food menus some say it has contributed to a chicken shortage. "Following the success of our Pretzel Bacon Pub Cheeseburger and Jalapeno Popper Chicken Sandwiches on the Made to Crave platform, we wanted to go back to our roots," said Carl Loredo, Wendy's chief marketing officer, in a statement. Wendy's is scheduled to report its first-quarter earnings on May 12. Wendy's stock is up 4% for the year to date while the S&P 500 index has gained 10.5% for the period.
4:56 a.m. May 6, 2021 - By Tonya Garcia
Wayfair revenue rises year-over-year but slips from Q4Wayfair Inc. reported first-quarter net income totaling $18.2 million, or 16 cents per share, after a loss of $285.9 million, or $3.04 per share, last year. Wayfair has adopted a new accounting standard, effective Jan. 1, 2021. Under the old system, the company says it would have reported a loss of 31 cents per share. Adjusted EPS was $1.00, ahead of the FactSet consensus for 26 cents. Revenue of $3.478 billion was up from $2.330 billion last year and ahead of the FactSet consensus for $3.394 billion. In the , Wayfair reported revenue of $3.67 billion. Revenue was up 49% year-over-year compared with 45% in the fourth quarter. Active customers reached 33.2 million as of March 31, up 57.3% year-over-year. Average order value was $237, up from $235 last year. And repeat customers placed 74.5% of total orders in the first quarter, compared with 69.8% last year. Wayfair stock was up 4.5% in Thursday premarket trading, and has gained 20% for the year to date. The S&P 500 index is up 11% for 2021 so far.
4:46 a.m. May 6, 2021 - By Tonya Garcia
Kellogg shares rise after guidance raisedKellogg Co. shares rose 3.8% in Thursday premarket trading after the food company reported earnings on Thursday that beat expectations and raised its full-year guidance. Net income totaled $368 million, or $1.07 per share, up from $347 million, or $1.01 per share. Adjusted EPS of $1.11 beat the FactSet consensus for 96 cents. Sales of $3.584 billion was up from $3.412 billion and and also beat the FactSet consensus for $3.377 billion. Kellogg now expects 2021 organic net sales to be flat year-over-year versus previous guidance for a 1% decline. Kellogg stock has gained 1.4% for the year to date while the S&P 500 index is up 11% for the period.
4:34 a.m. May 6, 2021 - By Tomi Kilgore
Vista Outdoor stock jumps after bit profit and sales beats, upbeat outlookShares of Vista Outdoor Inc. climbed 2.6% in premarket trading Thursday, after the shooting accessories and outdoor products company reported a fiscal fourth-quarter profit that beat expectations, as sales rose to the highest level in more than four years, with demand and order rates continued to increase across all of the company's businesses. For the quarter to March 31, the company swung to net income of $67.0 million, or $1.11 a share, from a loss of $141.2 million, or $2.44 a share, in the year-ago quarter. Excluding nonrecurring items, adjusted earnings per share rose to $1.02 from 11 cents, beating the FactSet consensus of 67 cents. Sales grew 40% to $596.5 million, above the FactSet consensus of $532.7 million, the most quarterly revenue since the fourth quarter of 2016. Shooting sports sales increased 37% to $403 million, amid strong demand for commercial ammunition and hunting and shooting accessories, while outdoor products sales rose rose 47% to $193 million with strength across all brands. The company expects fiscal first-quarter EPS of 80 cents to 90 cents and sales of $600 million to $620 million, compared with EPS expectations of 69 cents and a sales forecast of $534 million. The stock has rocketed 265.8% over the past 12 months through Wednesday, while the S&P 500 has advanced 46.3%.
3:55 a.m. May 6, 2021 - By Tomi Kilgore
II-VI stock sinks toward 6-month low after earnings beat expectations, but profit outlook comes up shyShares of II-VI Inc. sank 6.1% toward a six-month low in premarket trading Thursday, after the optical technology company beat fiscal third-quarter earnings expectations, but provided a downbeat profit outlook for the current quarter. Net income for the quarter to March 31 rose to $81.1 million, or 66 cents a share, from $5.9 mullion, or 6 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share nearly doubled, to 91 cents from 47 cents, and beat the FactSet consensus of 88 cents. Revenue grew 24.9% to $783.2 million, above the FactSet consensus of $772.3 million, with photonic solutions revenue rising 21.6% to $508.0 million and compound semiconductor revenue growing 31.5% to $275.3 million. For the fiscal fourth quarter ending June 30, the company expects adjusted EPS of 63 cents to 83 cents, below the current FactSet consensus of 92 cents, while the revenue guidance of $752 million to $802 million surrounds expectations of $796 million. The stock, which is on track to open at the lowest price seen during regular-session hours since November 2020, has shed 15.0% year to date through Wednesday, while the S&P 500 has advanced 11.0%.
3:45 a.m. May 6, 2021 - By Jaimy Lee
Moderna says its COVID-19 vaccine has a 96% efficacy rate in teens who have received one shotModerna Inc. said Thursday that initial data from the study evaluating its COVID-19 vaccine in teens between the ages of 12 and 17 years old showed an efficacy rate of 96%, with no serious safety concerns. The Phase 2/3 clinical trial is testing the vaccine in 3,235 teens who have received at least one shot in the two-dose regimen and have not previously been infected with SARS-CoV-2. "Because the incidence rate of COVID-19 is lower in adolescents, the case definition is less stringent ... resulting in vaccine efficacy against milder disease," Moderna said in its earnings release. Pfizer Inc. is expected to have its emergency authorization for its COVID-19 vaccine expanded sometime in the next week to include 12 to 15 year olds. Data from Pfizer's study showed an efficacy rate of 100% in 2,260 teens who have had or not had COVID-19. Moderna's stock is up 55.8% for the year, while the S&P 500 has gained 10.9%.
3:33 a.m. May 6, 2021 - By Tomi Kilgore
ViacomCBS stock rallies after earnings beats expectations, as streaming revenue jumps 65%Shares of ViacomCBS Inc. surged 2.9% in premarket trading Thursday, after the media and entertainment company reported first-quarter profit and revenue that rose above expectations, boosted by a 65% jump in streaming revenue. Net income rose to $911 million, or $1.44 a share, from $516 million, or 84 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share rose to $1.52 from $1.12, to beat the FactSet consensus of $1.23. Revenue grew 14% to $7.41 billion, above the FactSet consensus of $7.32 billion. Streaming revenue rose 65% to $816 million, with global streaming subscribers increasing 20% to 36 million. On the company's Paramount+ streaming platform, the biggest drivers of subscription sign ups were live sports and specials, as well as kids content. TV Entertainment revenue rose 19% to $3.51 billion, cable network revenue grew 14% to $3.26 billion and filmed entertainment revenue rose 23% to $997 million. ViacomCBS's stock has tumbled 27.7% over the past three months but has gained 4.9% year to date, while the S&P 500 has tacked on 11.0% this year.
3:33 a.m. May 6, 2021 - By Tonya Garcia
Papa John's Epic Stuffed Crust pizza drives sales growthPapa John's International Inc. shares rose 4.2% in Thursday premarket trading after the pizza delivery company reported first-quarter earnings and revenue that beat expectations. Net income totaled $27.1 million, or 82 cents per share, up from $8.4 million, or 15 cents per share, last year. Adjusted EPS of 90 cents beat the FactSet consensus for 56 cents. Revenue of $511.7 million was up from $409.9 million last year and ahead of the FactSet consensus for $470.0 million. Comparable sales in North America grew 26.2% and were up 23.2% on an international basis. Papa John's attributed the growth to the new Epic Stuffed Crust pizza in North America and the company's expanding customer base. The FactSet consensus was for domestic comparable sales growth of 14.9% and international growth of 17.4%. Papa John's stock has gained 10.8% for the year to date while the S&P 500 index is up 11% for the period.
3:28 a.m. May 6, 2021 - By Jaimy Lee
Moderna reports $1.7 billion in COVID-19 vaccine sales, posts first profit everModerna Inc. brought in $1.7 billion in sales of its COVID-19 vaccine in the first quarter of 2021, marking the company's first significant billion-dollar revenue haul this year and also the first time it's ever reported a GAAP profit. Moderna had earnings of $1.2 billion, or $2.84 per share, in the first quarter of 2021. This is compared to a loss of $124 million, or 35 cents per share, in the first quarter a year ago. The FactSet consensus was $2.39. Moderna had revenue of $1.9 billion for the quarter, up from $8 million in the same quarter a year ago. The FactSet consensus for revenue was $2.0 billion. This quarter marked the first time that the company has generated product revenue during the first three months of the year. About $1.7 billion of that came from sales of its COVID-19 vaccine. (Before receiving authorization from the Food and Drug Administration, it generated grant and collaboration revenue.) Moderna's stock is up 55.8% for the year, while the S&P 500 has gained 10.9%.
3:21 a.m. May 6, 2021 - By Ciara Linnane
Cardinal Health shares slide 8.8% premarket after earnings fall short of esimatesCardinal Health Inc. shares slid 8.8% in premarket trade Thursday, after the drug distributor posted weaker-than-expected earnings for its fiscal third quarter and lowered the top end of its guidance. The company said net income fell to $119 million, or 40 cents a share, in the quarter to March 31, down from $350 million, or $1.19 a share, in the year-earlier period. Excluding special items, adjusted EPS came to $1.53, just below the $1.55 FactSet consensus. Revenue rose to $39.3 billion from $39.2 billion, also below the FactSet consensus of $40.1 billion. The company narrowed its fiscal 2021 adj. EPS guidance range to $5.90 to $6.05 from previous guidance of $5.85 to $6.10. Shares have gained 13.6% in the year to date, while the S&P 500 has gained 11%.
3:19 a.m. May 6, 2021 - By Tomi Kilgore
Norwegian Cruise stock drops after wider-than-expected loss, revenue missShares of Norwegian Cruise Line Holdings Ltd. fell 2.0% in premarket trading Thursday, after the cruise operator reported a wider-than-expected first-quarter loss and revenue that fell more than forecast, while cash burn was in line with forecasts and said it was preparing to return to service this summer. The net loss narrowed to $1.37 billion, or $4.16 a share, from $1.88 billion, or $8.80 a share, in the year-ago period. Excluding nonrecurring items, per-share losses widened to $2.03 from 99 cents, compared with the FactSet loss consensus of $2.02. Revenue plunged 99.8% to $3.1 million, below the FactSet consensus of $11.2 million. Monthly average cash burn was in line with the company's guidance of $190 million, and Norwegian expects second-quarter cash burn to average $190 million a month. The company said 2022 booking trends "are very positive driven by strong pent up demand," with the booked position for the first half of 2022 "meaningfully ahead" of the pre-pandemic 2019's record levels. "As for the resumption of cruises from the U.S., we continue to engage in dialogue with the U.S. Centers for Disease Control and Prevention," said Chief Executive Frank Del Rio. "Our team is working through the recently issued and modified technical guidance for which additional clarification is needed on how the incorporation of vaccine requirements impacts the Conditional Sail Order and our path forward." The stock has rallied 20.8% over the past three months through Wednesday while the S&P 500 has gained 7.2%.
2:59 a.m. May 6, 2021 - By Tomi Kilgore
Tapestry swings to profit that beats expectations, as Coach and Kate Spade sales top forecastsCoach parent Tapestry Inc. reported Thursday that it swung to a fiscal third-quarter profit that beat expectations, as Coach and Kate Spade sales rose above forecasts. The luxury lifestyle brands company's stock was little changed in premarket trading. Net income for the quarter to March 27 was $91.7 million, or 32 cents a share, after a loss of $677.1 million, or $2.45 a share, in the year-ago period. Excluding nonrecurring items, adjusted per-share results swung to earnings of 51 cents from a loss of 27 cents, beating the FactSet consensus of 31 cents. Net sales increased 18.7% to $1.27 billion, above the FactSet consensus of $1.22 billion. Coach sales grew 25% to $964 million to beat expectations of $933.2 million and Kate Spade sales increased 1% to $252 million to top expectations of $251.5 million. The company expects fiscal 2021 revenue to grow at a mid-teens percentage rate, while the current FactSet sales consensus of $5.47 billion implies 10.2% growth. The stock has soared 55.8% year to date, while the S&P 500 has gained 11.0%.
2:47 a.m. May 6, 2021 - By Ciara Linnane
SeaWorld posts narrower-than-expected Q1 loss as revenue tops estimatesSeaWorld Entertainment Inc. said Thursday it had net loss of $44.9 million, or 57 cents a share, in the first quarter, narrower than the loss of $56.5 million, or 72 cents a share, posted in the year-earlier quarter. Revenue rose to $171.9 million from $153.6 million. The FactSet consensus was for a loss of 78 cents and revenue of $121.0 million. The theme park operator said the revenue number was down 21.2% from the first quarter of 2019, before the coronavirus pandemic shuttered parks. Total revenue per capital rose 17.2% to $77.63 from the first quarter of 2020. As of March 31, SeaWorld had about $431 million of cash and about $312 million available on a revolving credit facility. Ten of its 12 parks were open with capacity limitations. "Attendance trends have improved relative to 2019 during the first quarter of 2021, which included a slight benefit from an earlier Easter/Spring Break period when compared to the first quarter of 2019," Chief Executive Marc Swanson said in a statement. "We are encouraged by our guests desire to visit and spend at our parks and believe this is a good indicator for expected demand during our peak summer season." Shares were not active premarket but have gained 68% in the year to date, while the S&P 500 has gained 11%.
2:43 a.m. May 6, 2021 - By Tomi Kilgore
Regeneron stock rises, as profit, revenue and sales of SARS-CoV-2 antibody cocktail beat expectationsShares of Regeneron Pharmaceuticals Inc. rose 0.8% in premarket trading Thursday, after the biotechnology company beat first-quarter profit and revenue expectations, with sales of its REGEN-COV antibody cocktail to the SARS-CoV-2 virus also topping forecasts. Net income rose to $1.12 billion, or $10.09 a share, from $625 million, or $5.43 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share grew to $9.89 from $6.60, beating the FactSet consensus of $8.68. Revenue increased 38% to $2.53 billion, topping the FactSet consensus of $2.50 billion, as REGEN-COV sales of $262 million beat expectations of $254.6 million. For 2021, the company cut its capital expenditures guidance range to $585 million to $650 million from $600 million to $680 million. The stock has lost 3.3% over the past three months through Wednesday, while the iShares Nasdaq Biotechnology ETF has dropped 11.9% and the S&P 500 has gained 7.2%.
2:15 a.m. May 6, 2021 - By Tomi Kilgore
Becton Dickinson beats profit expectations, plans to spin off Diabetes Care businessBecton Dickinson & Co. reported Thursday fiscal second-quarter profit and sales that rose above expectations, boosted by $480 million in COVID-19 testing sales, and announced plans to separate its Diabetes Care business into an independent publicly traded company. The medical technology company's stock was still inactive in premarket trading. Net income for the quarter to March 31 rose to $277 million, or 95 cents a share, from $145 million, or 53 cents a share, in the year-ago period. Excluding nonrecurring items, such as purchase accounting adjustments and European regulatory initiative related costs, adjusted earnings per share came to $3.19, above the FactSet consensus of $3.04. Revenue grew 15.4% to $4.91 billion, topping the FactSet consensus of $4.89 billion, as medical revenue rose 1.7% and life sciences revenue increased 10.4% while interventional revenue fell 3.9%. For 2021, the company expects adjusted EPS growth of 24% to 25%, while the FactSet consensus of $12.86 implies 26.1% growth. Separately, the company said it expects the spinoff to occur through a distribution of stock in the new company to its shareholders, with the deal expected to be completed in the first half of 2022. The stock has lost 1.9% over the past three months, while the S&P 500 has gained 7.2%.
1:21 a.m. May 6, 2021 - By Steve Goldstein
Vaccine makers lower after U.S. says it supports IP waiversVaccine makers Pfizer , BioNTech and Moderna each traded lower by 3% to 5% in premarket trade on Thursday, following the announcement from U.S. Trade Representative Katherine Tai that the U.S. supports the waiver of intellectual-property protections on COVID-19 vaccines. Another maker of COVID-19 vaccines, AstraZeneca , was flat in London trade. Moderna also is scheduled to report earnings on Thursday.
1:34 p.m. May 5, 2021 - By Claudia Assis
Arlo Technologies stock rallies after narrower Q1 lossShares of Arlo Technologies Inc. jumped 10% in the extended session Wednesday after the maker of home security cameras and other equipment reported a narrower-than-expected first-quarter loss and sales topped forecasts. Arlo said it lost $10.7 million, or 13 cents a share, in the quarter, compared with a loss of $15.2 million, or 19 cents a share, in the year-ago quarter. Adjusted for one-time items, Arlo lost 3 cents a share, compared with 8 cents a share a year ago. Sales rose 26% to $82.6 million, Arlo said. Analysts polled by FactSet expected Arlo to report an adjusted loss of 21 cents a share on sales of $76.9 million. "In 2020 we successfully pivoted to become services-focused to create a more predictable, more profitable business and our strong Q1 results are further proof of our progress," Chief Executive Matthew McRae said in a statement. Arlo guided for second-quarter revenue between $80 million and $90 million, and an adjusted per-share loss between 20 cents and 13 cents. Shares of Arlo ended the regular trading day down 0.2%.
5:38 a.m. May 5, 2021 - By Sunny Oh
Stocks open higher after ADP jobs reportU.S. stocks opened higher at the start of Wednesday as investors sifted through a private-sector payrolls report showing significant job gains last month. The S&P 500 rose 0.4% to 4,183. The Dow Jones Industrial Average added 40 points, or 0.1%, to 34,173. The Nasdaq Composite climbed 0.8% to 13,741. Automatic Data Processing reported the U.S. economy added 742,000 jobs in April, ahead of the more widely watched nonfarm employment report at the end of the week. The continued job gains affirmed the U.S. recovery, and could put pressure on the Federal Reserve to start discussions on pulling back from its easy-money policies. Hilton Worldwide Holdings Inc. shares slid after the hotel chain's earnings fell short of estimates.
5:03 a.m. May 5, 2021 - By Tomi Kilgore
Atlas Air stock jumps toward 3-year high after big earnings beat, positive revenue outlookShares of Atlas Air Worldwide Holdings rallied 3.1% toward a three-year high in premarket trading Wednesday, after the provider of outsourced aircraft and aviation operating services reported first-quarter profit and revenue that rose above expectations, as strong demand for airfreight helped lift yields above typical seasonal levels. Net income rose to $89.9 million, or $3.05 a share, from $23.4 million, or 90 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share grew to $2.45 from $1.15, beating the FactSet consensus of $1.78. Revenue increased 33.8% to $861.3 million, above the FactSet consensus of $822.7 million, as volumes rose 20.9% to 88,523 block hours. The company expects second-quarter revenue of $950 million, compared with the FactSet consensus of $808 million, flying about 90,000 block hours and adjusted net income increasing by about 30%. The stock, which is on track to open at the highest prices seen during regular-session hours since July 2018, has run up 27.7% year to date through Tuesday, while the S&P 500 has advanced 10.9%.
4:21 a.m. May 5, 2021 - By Tonya Garcia
Dine Brands shares rise as Applebee's and IHOP sales turn positiveDine Brands Global Inc. shares rose 1% in Wednesday premarket trading as the restaurant company's March and April numbers show signs of recovery from the pandemic. First-quarter net income totaled $25.1 million, or $1.51 per share, up from $21.6 million, or $1.31 per share, last year. Adjusted EPS was $1.75, up from $1.45 last year and ahead of the FactSet consensus for 87 cents. Revenue of $204.2 million was down from $206.9 million last year and ahead of the FactSet consensus for $200.0 million. Domestic same-restaurant sales at Applebee's rose 11.9% for the quarter with results turning positive in March (up 103.3%) and April (up 237.4% on a preliminary basis). IHOP domestic same-restaurant sales were down 0.9% for the quarter, with March up 81.2% and preliminary April same-restaurant sales up 297.4%. Nearly all, 99%, of Dine Brands domestic restaurants are operating. Compared with fiscal 2019, same-restaurant sales at both chains were down for the quarter, Applebee's by 6.2% and IHOP by 21.2%. Dine Brands stock has gained 67.2% for the year to date while the S&P 500 index is up 10.9% for the period.
4:11 a.m. May 5, 2021 - By Tomi Kilgore
Jones Lang LaSalle profit rises to more than triple expectations, as estimates of real estate investments increasedJones Lang LaSalle Inc. reported Wednesday a first-quarter profit that was more than triple what was expected, boosted by a $34.7 million increase in the estimated value of investments in proptech companies. Shares of the real estate and investment management company were still inactive in premarket trading. Net income rose to $109.7 million, or $1.97 a share, from $25.8 million, or 10 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share increased to $2.10 from 49 cents, beating the FactSet consensus of 66 cents. Revenue slipped 1% to $4.04 billion, while revenue before reimbursements declined 5% to $2.13 billion, but topped the FactSet consensus of $1.85 billion. Fee revenue was down 4% to $1.44 billion but beat expectations of $1.34 billion, and leasing revenue fell 9% to $49.5 million. The stock has run up 28.8% year to date, while the S&P 500 has advanced 10.9%.
3:43 a.m. May 5, 2021 - By Tomi Kilgore
GM stock surges after profit more than doubles expectations, while revenue surprisingly slipsShares of General Motors Co. surged 3.7% in premarket trading, after the automaker reported first-quarter profit that was more than double what was expected, while revenue surprisingly declined and the full-year outlook was a bit shy of forecasts. Net income rose to $2.98 billion, or $2.03 a share, from $247 million, or 17 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share rose to $2.25 from 62 cents, beating the FactSet consensus of $1.05. Revenue slipped 0.7% to $32.47 billion, while the FactSet consensus called for a rise to $33.00 billion. For 2021, GM expects adjusted EPS of between $4.50 and $5.25, compared with the FactSet consensus of $5.29. Chief Executive Mary Barra said in a letter to shareholders that the investment in electric vehicles will continue to accelerate. "We will continue to convert assembly plants to build EVs and expand our battery cell capacity as we make progress on our goal of EV market share leadership in North America," Barra wrote. "We will lead the industry in safely commercializing self-driving technology." GM's stock has run up 32.9% year to date through Tuesday, while the S&P 500 has gained 10.9%.
3:24 a.m. May 5, 2021 - By Tonya Garcia
Tupperware swings to a profit, shares jumpTupperware Brands Corp. stock jumped 6.2% in Wednesday premarket trading after the container company reported first-quarter results that beat expectations. Net income totaled $45.3 million, or 85 cents per share, after a loss of $7.8 million, or 16 cents per share, last year. Adjusted EPS of 82 cents was up from 9 cents last year and ahead of the FactSet consensus for 54 cents. Sales of $460.3 million were up from $375.9 million last year and ahead of the FactSet consensus of $434.0 million. "We continue to revitalize the brand through the expanded use of digital tools by our sales force to solve consumer needs," said Miguel Fernandez, Tupperware chief executive, in a statement. "Additionally, we have made great progress building the team needed to accelerate growth in new channels of distribution so more consumers have access to our environmentally-friendly, reusable products." Tupperware stock has tumbled nearly 26% over the year to date while the S&P 500 index is up 10.9% for the period.
3:17 a.m. May 5, 2021 - By Ciara Linnane
New York Times beats earnings estimates and offer upbeat guidanceNew York Times Co. shares edged slightly higher in premarket trade Wednesday, after the newspaper group beat earnings estimates for the first quarter and offered upbeat guidance for the second quarter. The company posted net income of $41.1 million, or $24 cents a share, for the quarter, up from $32.9 million, or 20 cents a share, in the year-earlier period. Adjusted per-share earnings came to 26 cents, more than double the 12 cents FactSet consensus. Revenue climbed 6.6% to $473 million from $443.6 million, also ahead of the $461.0 million FactSet consensus. "The Times finished the first quarter with more than 7.8 million paid subscriptions across our digital and print products, more than 100 million registered users, and an average weekly audience of 76 million readers," Chief Executive Meredith Kopit Levien said in a statement. Subscription revenue rose 15.3% to $329.1 million, ad revenue fell 8.5% to $97.1 million and other revenue fell 10% to $46.8 million. Revenue from digital-only products rose 38.1% to $179.6 million. The company is expected total subscription revenue to rise about 15% in the second quarter and for digital-only subscription revenue to rise about 30%. Ad revenue is expected to grow 55% to 60%, while digital ad revenue is expected to climb 70% to 75%, boosted by weak comparisons in the first quarter of 2020 as the pandemic began to hurt ad spending. Shares have fallen 13% in the year to date, while the S&P 500 has gained 10.9%.
2:42 a.m. May 5, 2021 - By Tomi Kilgore
AmerisourceBergen stock falls after profit beats forecasts but revenue was a bit lightShares of AmerisourceBergen Corp. fell 0.7% in premarket trading Wednesday, after the pharmaceuticals and health care products company reported a first-quarter profit that beat expectations but revenue that came up a bit light. Net income fell to $435.3 million, or $2.10 a share, from $960.3 million, or $4.64 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share rose to $2.53 from $2.40, to top the FactSet consensus of $2.48. Revenue increased 3.7% to $49.15 billion, below the FactSet consensus of $49.98 billion. Pharmaceutical distribution services revenue grew 3.4% to $47.1 billion, as specialty product sales, including COVID-19 treatments, increased, but missed expectations of $47.4 billion. Cost of goods sold rose 3.5% to $47.62 billion. For 2021, the company revised its adjusted EPS guidance range up to $8.45 to $8.60 from $8.40 to $8.60. The stock has rallied 28.7% year to date through Tuesday, while the S&P 500 gained 10.9%.
2:25 a.m. May 5, 2021 - By Ciara Linnane
Hilton shares slide 2.2% premarket as earnings fall short of estimates amid COVID shutdownsHilton Worldwide Holdings Inc. shares slid 2.2% in premarket trade Wednesday, after the hotel chain's earnings fell short of estimates, as the coronavirus pandemic continued to weigh on demand in January and February. Hilton swung to a loss of $108 million, or 39 cents a share, in the quarter, after income of $18 million, or 6 cents a share, in the year-earlier period. Excluding special items, the company had adjusted per-share earnings of 2 cents, below the 7 cents FactSet consensus. Revenue tumbled to $874 million from $1.920 billion, missing the $1.085 billion FactSet consensus. Revenue per available room fell 38.4% on a currency-neutral basis. "While rising COVID-19 cases and tightened travel restrictions, particularly across Europe and our Asia Pacific region, weighed on demand in January and February, we saw meaningful improvement in March and April," Chief Executive Christopher J. Nassetta said in a statement. "We expect this positive momentum to continue as vaccines are more widely distributed and our customers feel safe traveling again." The operations of about 275 properties, mostly in the U.S. and Europe, were suspended for some time during the first quarter, compared with about 730 properties in the year-earlier period. Shares have gained 15.3% in the year to date, while the S&P 500 has gained 10.9%.
2:22 a.m. May 5, 2021 - By Tomi Kilgore
Fresh Del Monte stock set to rally after profit more than triples, tops expectationsShares of Fresh Del Monte Produce Inc. were indicated up about 4% in premarket trading Wednesday, after the fresh fruit and vegetables producer reported a first-quarter profit that more than tripled from a year ago, even as sales slipped given continued COVID-19 restrictions on foodservice customers and given hurricane-related supply disruptions. Net income rose to $42.7 million, or 90 cents a share, from $13.0 million, or 27 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share came to 88 cents, while the average EPS estimate of two analysts surveyed by FactSet was 36 cents. Sales declined 2.7% to $1.09 billion, while the average sales estimate of two analysts was $1.11 billion, as fresh and value-added products sales fell 4.5% to $631.0 million and banana sales declined 2.1% to $418.2 million. The stock has run up 19.9% year to date through Tuesday, while the S&P 500 has gained 10.9%.
2:13 a.m. May 5, 2021 - By Tomi Kilgore
Lumber Liquidators stock set to selloff after profit beat expectations but sales came up shortShares of Lumber Liquidators Holdings Inc. were indicated down about 5% in premarket trading Wednesday, after the wood flooring retailer reported first-quarter profit that beat expectations but sales that came up short, as results continued to be impacted by tariffs on certain products imported from China. Net income fell to $10.6 million, or 36 cents a share, from $12.2 million, or 42 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share came to 34 cents, above the FactSet consensus of 23 cents. Net sales rose 6.0% to $283.5 million, below the FactSet consensus of $293.1 million, as same-store sales grew 6.9% to miss expectations of a 10.4% rise. The company said same-store sales were driven by strong demand for installation and home improvement projects and shutdowns related to the COVID-19 pandemic a year ago. Cost of sales rsoe 3.4% to $167.9 million. The company did not provide financial guidance, citing uncertainties surrounding the impact of the COVID-19 pandemic as it relates to consumer spending and supply chain disruptions. The stock has dropped 19.5% year to date through Tuesday, while the S&P 500 has climbed 10.9%.
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