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GitLab Inc. jumped 12.7% to $74.25, and the developer software tools company reported better-than-expected adjusted earnings and announced the appointment of a new chief executive effective today. 

Revenue in the fiscal third quarter ending in October soared 31% to $196 million from $149.7 million, net income swung to a profit of $29.6 million from a loss of $285.2 million, and diluted earnings per share were 18 cents compared to a loss of $1.84 a year earlier. 

The company guided revenue in the fiscal fourth quarter to range between $205 million and $206 million and adjusted earnings per share between 22 cents and 23 cents. 

The company named Bill Staples as new chief executive, succeeding CEO and co-founder Sid Sijbrandij, "who is stepping down from day-to-day activities to focus on his health." 

  • 06 Dec, 2024

 

Lululemon Athletica Inc. increased 8.5% to $373.80, and the athleisure apparel retailer reported better-than-expected quarterly earnings. 

Revenue in the fiscal third quarter ending in October increased 9% to $2.4 billion, net income soared to $351.9 million from $248.7 million, and diluted earnings per share advanced to $2.87 from $1.96 a year ago. 

For the fourth quarter of 2024, the retailer estimated net revenue to be in the range of $3.475 billion to $3.510 billion, representing growth of 8% to 10%, or 3% to 4% excluding the 53rd week of 2024. 

Diluted earnings per share are expected to be in the range of $5.56 to $5.64 for the quarter, assuming a tax rate of approximately 29.5%.

For full-year 2024, the company now expects net revenue to be in the range of $10.452 billion to $10.487 billion, representing growth of 9%, or 7% excluding the 53rd week of 2024. 

Diluted earnings per share are now expected to be in the range of $14.08 to $14.16 for the year, assuming a tax rate of approximately 30%.

  • 06 Dec, 2024

 

Ulta Beauty Inc. surged 9.3% to $429.0 after the cosmetic retailer reported better-than-expected results in the fiscal third quarter. 

Revenue increased to $2.53 billion from $2.49 billion, net income dropped to $242.2 million from $249.5 million, and diluted earnings per share rose to $5.14 from $5.07 a year earlier. 

Comparable same-store sales growth slowed to 0.6% from 4.5% in the quarter a year ago. 

During the third quarter of fiscal 2024, the retailer repurchased 731,458 shares of its common stock at a cost of $267 million. 

During the first nine months of fiscal year 2024, the company repurchased 1.9 million shares of its common stock at a cost of $764.5 million. 

As of November 2, $2.9 billion remained available under the $3 billion share repurchase program announced in October 2024.

  • 06 Dec, 2024

 

Synopsys dropped 7% to $547.0 after the advanced chip design software company's outlook for the fiscal first quarter fell short of market expectations. 

Revenue in the fiscal fourth quarter ending in October rose 11% to $1.64 billion, net income decreased to $279.3 million from $346.1 million, and diluted earnings per share fell to $1.79 from $2.23 a year earlier. 

For the full fiscal year 2024, net income increased to $1.44 billion from $1.23 billion, and diluted earnings per share rose to $9.25 from $7.91. 

The electronic design automation company estimated fiscal 2025 first quarter revenue to range between $1.435 billion and $1.465 billion and diluted earnings per share to range between $1.81 and $1.95. 

  • 05 Dec, 2024

 

Five Below rose 14.3% to $120.11 after the deep discount retailer reported better-than-expected revenue and adjusted earnings in the third quarter. 

Net sales increased by 14.6% to $843.7 million from $736.4 million a year ago; comparable sales increased by 0.6%. 

Net income plunged to $1.7 million compared to $14.6 million, and diluted earnings per share were 3 cents compared to 26 cents, and adjusted diluted earnings per share were 42 cents. 

  • 05 Dec, 2024

 

American Eagle Outfitters dropped 14.5% to $17.57, and the apparel retailer reported weaker-than-expected quarterly results. 

Total revenue in the third quarter ending on November 2 declined 1% to $1.3 billion, including a $45 million reduction in sales because of a calendar shift in the current period. 

Comparable store sales in the quarter increased, following a 5% increase last year. 

Net income dropped to $80.0 million from $96.7 million, and diluted earnings per share fell to 41 cents from 49 cents a year ago. 

The company estimated fourth quarter total revenue to fall 4%, including an adverse effect of $85 million because of the calendar shift and one fewer week in the period. 

The retailer also guided operating income to range between $125 million and $130 million, including a negative impact of $20 million because of the strengthening of the U.S. dollar. 

  • 05 Dec, 2024

 

Foot Locker dropped 19% to $19.71 after the athletic footwear retailer reported third quarter revenue of $1.96 billion and diluted earnings per share of 33 cents. 

Dollar Tree jumped 3.6% to $75.09 after the deep discount retailer reported better-than-expected revenue and earnings in the third quarter. 

Revenue increased to $7.56 billion, and diluted earnings per share advanced to $1.12. 

  • 04 Dec, 2024

 

Chewy Inc. decreased 1.9% to $32.99, and the online pet food store reported mixed quarterly results.

Revenue in the third quarter increased to $2.88 billion, and diluted earnings per share were 20 cents per share. 

However, the company's estimate of revenue in the fourth quarter and full year was ahead of market expectations. 

  • 04 Dec, 2024

 

Okta Inc. jumped 13% to $92.35, and the identity and access management company said revenue in the third quarter increased 14% from a year ago to $569 million. 

The company also guided revenue in the fourth quarter to range between $667 million and $669 million. 

  • 04 Dec, 2024

 

Marvell Technology jumped 13% to $108.30 after the advanced chipmaker reported higher-than-expected third quarter earnings. 

Stock soared after the company estimated fourth quarter revenue of $1.8 billion. 

  • 04 Dec, 2024

 

Salesforce jumped 12% to $371.20 after the customer relations software developer reported better-than-expected quarterly results. 

The company reported higher-than-expected revenue in the third quarter of $9.44 billion and adjusted earnings per share of $2.41. 

  • 04 Dec, 2024

 

Zscaler declined 5.4% to $197.25 after the company's fiscal second quarter outlook fell short of market expectations. 

Revenue in the fiscal first quarter ending in October rose 26% to $628 million from $496.7 million, net loss shrank to $12 million from $33.5 million, and diluted loss per share eased to 8 cents from 23 cents a year ago. 

The company estimated revenue in the fiscal 2025 second quarter to range between $633 million and $635 million and adjusted earnings per share between 68 cents and 69 cents. 

For the full year 2025, the company estimated revenue between $2.623 billion and $2.643 billion and adjusted earnings per share to range between $2.94 and $2.99. 

  • 03 Dec, 2024

 

Credo Technology Group soared 33.5% to $64.01 after the high-speed connectivity solutions provider reported fiscal second quarter results. 

Revenue in the quarter ending on November 2 increased 63.6% to $72 million from $59.7 million, net loss shrank to $4.2 million from $9.4 million, and diluted loss per share eased to 3 cents from 6 cents a year ago. 

  • 03 Dec, 2024

 

U.S. Steel declined 5.5% to $38.70 after President-elect Donald Trump said he plans to block the company's purchase by Japan's Nippon Steel. 

Nippon Steel has agreed to pay $14 billion, and the company has committed to keeping most of the employees on the payroll after the acquisition. 

  • 03 Dec, 2024

 

Tesla Inc. declined 1.9% to $350.25, and a Delaware judge upheld the previous judgment to deny chief executive Elon Musk the right to receive a pay package worth $56 billion in 2018. 

Following the previous judgment issued by Chancellor Kathleen McCormick in January, Tesla moved its incorporation to Texas from Delaware and ratified the annual pay plan through a shareholder vote in June. 

Tesla sought Chancellor Kathleen to reverse her opinion after the shareholder vote. 

“Were the court to condone the practice of allowing defeated parties to create new facts for the purpose of revising judgments, lawsuits would become interminable,” wrote McCormick in a judgment released on Monday. 

Tesla said on a social media platform, X, it plans to appeal the decision. 

  • 03 Dec, 2024