- Scott Peters
- 09 Mar, 2023
- New York City
BJ's Wholesale Club Holdings Inc increased 5.1% to $78.09 after the company posted better-than-expected results in its latest quarter.
Revenue in the fourth quarter ending on January 28 increased 13.1% to $4.9 billion from $4.3 billion a year ago.
Net income rose 20.7% to $129.8 million from $1107.6 million and diluted earnings per share rose to 95 cents from 78 cents a year ago.
Total comparable club sales increased 9.8% and comparable club sales, excluding gasoline sales advanced 8.7% from the previous year.
Membership fee income increased 8.0% from the previous year in the quarter to $101.8 million and the company achieved a record 90% tenured member renewal rate.
Credit Suisse AG decreased 2.4% to $2.83 after the company delayed releasing its annual report following a call from the U.S. Securities and Exchange Commission.
Life Time Group Holdings Inc increased 2.0% to $17.83 after the fitness center chain operator reported a rebound in revenue.
Revenue in the fourth quarter increased 31.1% to $472.7 million and the company swung to net income of $13.7 million from a loss of $304.8 million and diluted earnings per share was 7 cents compared to a loss of $1.64 in the previous year.
Comparable center sales rose at a slower pace of 26% from 52% in the year ago and membership increased 11.7% to 725,206.
Average monthly dues per center membership increased approximately 20% to $162.0.
MongoDB Inc declined to $211.45 after the database company offered weak revenue guidance.
The company said revenue in the fourth quarter increased 36% to $361.3 million and net loss declined to $64.4 million from $84.4 million and diluted loss per share fell to 93 cents from $1.26 a year ago.
The company guided full-year 2023 revenue in the range of $1.48 billion and $1..51 billion, indicating a slower revenue growth than in 2022.
Silvergate Capital Corp fell 28.3% to $3.39 after the company said it plans to initiate the process of liquidating crypto-assets focused Silvergate Bank.
SVB Financial Group plunged 38.9% to $163.43 after the company announced its plan to raise through a $1.25 billion common stock offering and $500 million depository receipts.
Tesla Inc declined 0.6% to $180.83 on the news that federal safety regulators are looking to investigate what happened in a fatal collision involving a Tesla S model and a firetruck.
- Barry Adams
- 09 Mar, 2023
- New York City
Stocks lost early momentum as investors reviewed comments from the Fed chairman and jobless claims ahead of Friday's nonfarm payrolls data.
Initial jobless claims in the last week rose to the most in 2023 and investors await a broader report on the state of the labor market and health of the economy.
ADP's private payroll data and the Labor Department's monthly JOLT survey showed tight labor market conditions and resilient economy, raising worries that the Fed may have to raise faster to cool the economy that may be deemed too hot.
Weekly Jobless Claims Advanced
Initial jobless claims for the week ended March 4 surged by 21,000 from the previous week to 211,000, the U.S. Labor Department reported Thursday.
The weekly claims were the highest in 2023 after tech layoffs accelerated. The four-week moving average which smoothes out the weekly volatility increased 4,000 to 197,000.
Continuing claims ending in the previous week increased 69,000 to 1.72 million, the highest since January 2022.
Indexes & Yields
The S&P 500 index decreased 0.2% to 3,985.68 and the Nasdaq Composite index eased 2.12 points to 11,570.95.
The yield on 2-year Treasury notes decreased to 4.98%, 10-year Treasury notes edged down to 3.98% and 30-year Treasury bonds fell to 3.88%.
Crude oil advanced $1.12 to $77.77 a barrel and natural gas rose 6 cents to $2.61 thermal unit.
U.S. Stock Movers
Silvergate Capital Corp fell 28.3% to $3.39 after the company said it plans to initiate the process of liquidating crypto-assets focused Silvergate Bank.
SVB Financial Group plunged 38.9% to $163.43 after the company announced its plan to raise through a $1.25 billion common stock offering and $500 million depository receipts.
MongoDB Inc declined to $211.45 after the database company offered weak revenue guidance.
The company said revenue in the fourth quarter increased 36% to $361.3 million and net loss declined to $64.4 million from $84.4 million and diluted loss per share fell to 93 cents from $1.26 a year ago.
The company guided full-year 2023 revenue in the range of $1.48 billion and $1..51 billion, indicating a slower revenue growth than in 2022.
Tesla Inc declined 0.6% to $180.83 on the news that federal safety regulators are looking to investigate what happened in a fatal collision involving a Tesla S model and a firetruck.
- Barry Adams
- 08 Mar, 2023
- New York City
Major averages closed mixed after strong additions in private payrolls reinforced the concern of larger rate hikes.
Benchmark indexes bounced around the flatline as investors weighed the latest hawkish comments from the Fed chairman Powell and reacted to corporate earnings news.
Despite multiple rate hikes the U.S. economy is standing strong and only higher-for-longer rates may cool inflation but also increase risks of wider economic slowdown.
U.S. Treasury yields hovered near 16-year highs as investors mulled faster rate hikes and higher peak rates in the month ahead.
Private payrolls expanded at a faster pace in February, suggesting tight labor market conditions to persist despite multiple rate hikes over the last twelve months.
What is good news on the Main Street is bad news on Wall Street as investors fear that rates may have to go further in the restrictive territory before inflation cools, pushing the economy towards a faster slowdown.
The closely watched JOLT survey from the Labor Department showed there are still two job openings for every worker and investors look ahead to Friday's non-farm payrolls data.
Employment report tracking payrolls across all sectors of the economy are scheduled to be released on Friday by the U.S. Labor Department and investors are anticipating net job gains of closer to 300,000 and jobless rate of 3.4%.
February Private Payrolls Growth Accelerated
Private sector net job addition accelerated in February, according to the latest monthly report released by the payrolls processing company ADP.
U.S. private payrolls increased by 242,000 in February, higher than the revised 119,000 increase in January.
The February's gains were driven by 190,000 additions in the service sector and 52,000 increase in the manufacturing sector.
Overall wage gains decelerated to 7.2%.
U.S. Trade Deficit Edged Higher In January
The U.S. trade deficit in goods and services increased slightly in January after exports rose faster than imports, the Bureau of Economic Analysis reported Wednesday.
Exports increased 3.4% and soared 13.3% to $257.5 billion.
Imports rose 3.0% from the previous month and jumped 3.5% to $325.7 billion.
Overall trade deficit for goods and services increased 1.6% from the previous month but fell 21.9% from the previous year to $68.3 billion.
Indexes & Yields
The S&P 500 index increased 0.14% to 3,992.01 and the Nasdaq Composite index inched higher to 0.4% to 11,576.01.
The yield on 2-year Treasury notes hovered near 5.07%, 10-year Treasury notes inched lower to 3.98% and 30-year Treasury bonds traded around 3.89%.
Crude oil prices declined $1.21 to $76.35 a barrel and natural gas prices eased 8 cents to $2.59 a thermal unit.
U.S. Stock Movers
Occidental Petroleum Corporation increased 1.4% to $61.70 after a regulatory filing showed that the Warren Buffett controlled Berkshire Hathaway increased its stake in the company by purchasing 5.8 million additional shares last week.
Crowdstrike Holdings Inc added 1.3% to $126.57 after the cybersecurity company reported better-than-expected quarterly results. Revenue in the fourth quarter increased to $637 million and earnings per share rose to 47 cents.
Stitch Fix Inc dropped 13.5% to $4.31 after the online fashion platform reported wider-than-expected loss.
Stitch Fix Inc said revenue in the fiscal second quarter ended on January 28 declined 20% to $412.1 million and net loss expanded to $65.6 million from $30.9 million and diluted loss per share rose to 58 cents from 28 cents a year ago.
BlackBerry Ltd increased 4.2% to $3.65 after the cybersecurity company reported preliminary quarterly results.
BlackBerry Limited said preliminary revenue in the fourth quarter is expected to be $151 million, including $107 million in cybersecurity billings.
European Markets Look Beyond Central Bankers' Comments
European markets lacked direction after investors weighed the latest comments from central bankers and economic data.
Market indexes opened lower following the comments from the Federal Reserve Chairman Jerome Powell suggested larger rate hikes may be necessary to cool inflation.
Closer to home, the European Central Bank next week is set to raise rates for the sixth time in a row to cool sky-high inflation driven by high energy prices.
Investors are anticipating a rate hike of 50 basis points.
On Monday, Governor of Austria's central bank Robert Holzmann said that the rates should be revised higher by the same amount at the next four meetings in a row.
Despite the previous five rate hikes, rates are still not restrictive enough in cooling inflation.
The ECB's main deposit rate is 2.5% and consumer price in the Euro Area is hovering around 8.5%.
Germany's Industrial production Expanded In January
Germany's industrial production unexpectedly rose 3.5% in January and reversed the 2.4% decline in December, the Federal Statistics Office or Destatis reported Wednesday.
Industrial production rose after intermediate goods demand surged 6.9% driven by a rise in demand for chemical and electronic equipment, the report showed.
On other hand, production of consumer goods fell 1.8% and capital goods output decreased 0.6%.
On an annual basis, the industrial production declined 1.6% after falling 3.3% in December.
Germany's Retail Sales Declined
Retail sales in January fell 0.3% after adjusting for inflation from the previous month, the latest data from Destatis showed.
January's retail turnover declined 6.9% from the previous year after higher prices and elimination of energy subsidies forced consumers to retrench.
Euro Area Economy Stagnated In Q4
Economy in the Euro Area stagnated after the latest downward revision in the fourth quarter, Eurostat said in a report today.
GDP expanded 0.4% in the fourth quarter, matching the rate in the third quarter.
Positive contributions from government spending and international trade were offset by the decline in consumer spending and investments.
On an annual basis, the fourth quarter's GDP expansion was downwardly revised to 1.8% from the previous estimate of 1.9% and slower than 2.4% in the third quarter.
The Euro Area's economy expanded 3.5% in 2022 after rising 5.3% in 2021.
Indexes & Yields
The DAX index increased 0.5% to 15,631.87, the CAC-40 index fell 0.2% to 7,324.76 and the FTSE 100 index closed up 0.1% to 7,929.92.
The yield on 10-year German Bunds decreased to 2.65%, French bonds inched lower to 3.14%, UK gilts to 3.78% and Italian bonds to 4.43%.
The euro edged lower to $1.05, the British pound eased to $1.183 and the Swiss franc closed at 94.12 cents.
Brent crude oil fell 50 cents to $82.76 a barrel and the Dutch TTF natural gas eased 15 cents to $2.53 a thermal unit.
Europe Stock Movers
Adidas AG fell as much as 3% but recovered to close higher 2.2% to €147.50 after the athletic footwear maker reported disappointing 2022 sales.
Net sales in 2022 increased 6% to $23.8 billion but operating profit fell 66% to $705.4 million. Sales in the fourth quarter struggled after the company severed its relationship with the rapper Kanye West.
The ending of relationship with Ye cost the company $633 million in fourth-quarter sales.
Continental AG increased 7.6% to €78.26 after the automotive tires maker estimated earnings and margins to improve in 2023.
Symrise AG increased €96.14 after the flavor and fragrance maker forecasted core 2023 profit below expectations of some investors.
Thales SA declined 3.6% to €127.85 despite the French defense group reporting higher sales and earnings for 2022.
Restaurant Group PLC plunged 15.3% to 38.36 pence after the company reported a wider loss in the financial year 2022.
Admiral Group plc fell 4.1% to 2,003.0 pence after the UK-based financial services company proposed a lower dividend following the sharp decline in profit.
Legal & General Group plc fell 1.6% to 261.61 pence despite the UK-financial services company reporting a solid increase in earnings in 2022.
Hill & Smith PLC decreased 6.1% to 1,327.67 pence despite the infrastructure and transportation solutions provider reporting nearly two-third increase in pre-tax earnings in 2022.
- Bridgette Randall
- 08 Mar, 2023
- Frankfurt
Adidas AG fell as much as 3% but recovered to close higher 2.2% to €147.50 after the athletic footwear maker reported disappointing 2022 sales.
Net sales in 2022 increased 6% to $23.8 billion but operating profit fell 66% to $705.4 million. Sales in the fourth quarter struggled after the company severed its relationship with the rapper Kanye West.
The ending of relationship with Ye cost the company $633 million in fourth-quarter sales.
Admiral Group plc fell 4.1% to 2,003.0 pence after the UK-based financial services company proposed a lower dividend following the sharp decline in profit.
Continental AG increased 7.6% to €78.26 after the automotive tires maker estimated earnings and margins to improve in 2023.
Hill & Smith PLC decreased 6.1% to 1,327.67 pence despite the infrastructure and transportation solutions provider reporting nearly two-third increase in pre-tax earnings in 2022.
Legal & General Group plc fell 1.6% to 261.61 pence despite the UK-financial services company reporting a solid increase in earnings in 2022.
Restaurant Group PLC plunged 15.3% to 38.36 pence after the company reported a wider loss in the financial year 2022.
Symrise AG increased €96.14 after the flavor and fragrance maker forecasted core 2023 profit below expectations of some investors.
Thales SA declined 3.6% to €127.85 despite the French defense group reporting higher sales and earnings for 2022.
- Bridgette Randall
- 08 Mar, 2023
- Frankfurt
European markets lacked direction after investors weighed the latest comments from central bankers and economic data.
Market indexes opened lower following the comments from the Federal Reserve Chairman Jerome Powell suggested larger rate hikes may be necessary to cool inflation.
Closer to home, the European Central Bank next week is set to raise rates for the sixth time in a row to cool sky-high inflation driven by high energy prices.
Investors are anticipating a rate hike of 50 basis points.
On Monday, Governor of Austria's central bank Robert Holzmann said that the rates should be revised higher by the same amount at the next four meetings in a row.
Despite the previous five rate hikes, rates are still not restrictive enough in cooling inflation.
The ECB's main deposit rate is 2.5% and consumer price in the Euro Area is hovering around 8.5%.
Germany's Industrial production Expanded In January
Germany's industrial production unexpectedly rose 3.5% in January and reversed the 2.4% decline in December, the Federal Statistics Office or Destatis reported Wednesday.
Industrial production rose after intermediate goods demand surged 6.9% driven by a rise in demand for chemical and electronic equipment, the report showed.
On other hand, production of consumer goods fell 1.8% and capital goods output decreased 0.6%.
On an annual basis, the industrial production declined 1.6% after falling 3.3% in December.
Germany's Retail Sales Declined
Retail sales in January fell 0.3% after adjusting for inflation from the previous month, the latest data from Destatis showed.
January's retail turnover declined 6.9% from the previous year after higher prices and elimination of energy subsidies forced consumers to retrench.
Euro Area Economy Stagnated In Q4
Economy in the Euro Area stagnated after the latest downward revision in the fourth quarter, Eurostat said in a report today.
GDP expanded 0.4% in the fourth quarter, matching the rate in the third quarter.
Positive contributions from government spending and international trade were offset by the decline in consumer spending and investments.
On an annual basis, the fourth quarter's GDP expansion was downwardly revised to 1.8% from the previous estimate of 1.9% and slower than 2.4% in the third quarter.
The Euro Area's economy expanded 3.5% in 2022 after rising 5.3% in 2021.
Indexes & Yields
The DAX index increased 0.5% to 15,631.87, the CAC-40 index fell 0.2% to 7,324.76 and the FTSE 100 index closed up 0.1% to 7,929.92.
The yield on 10-year German Bunds decreased to 2.65%, French bonds inched lower to 3.14%, UK gilts to 3.78% and Italian bonds to 4.43%.
The euro edged lower to $1.05, the British pound eased to $1.183 and the Swiss franc closed at 94.12 cents.
Brent crude oil fell 50 cents to $82.76 a barrel and the Dutch TTF natural gas eased 15 cents to $2.53 a thermal unit.
Europe Stock Movers
Adidas AG fell as much as 3% but recovered to close higher 2.2% to €147.50 after the athletic footwear maker reported disappointing 2022 sales.
Net sales in 2022 increased 6% to $23.8 billion but operating profit fell 66% to $705.4 million. Sales in the fourth quarter struggled after the company severed its relationship with the rapper Kanye West.
The ending of relationship with Ye cost the company $633 million in fourth-quarter sales.
Continental AG increased 7.6% to €78.26 after the automotive tires maker estimated earnings and margins to improve in 2023.
Symrise AG increased €96.14 after the flavor and fragrance maker forecasted core 2023 profit below expectations of some investors.
Thales SA declined 3.6% to €127.85 despite the French defense group reporting higher sales and earnings for 2022.
Restaurant Group PLC plunged 15.3% to 38.36 pence after the company reported a wider loss in the financial year 2022.
Admiral Group plc fell 4.1% to 2,003.0 pence after the UK-based financial services company proposed a lower dividend following the sharp decline in profit.
Legal & General Group plc fell 1.6% to 261.61 pence despite the UK-financial services company reporting a solid increase in earnings in 2022.
Hill & Smith PLC decreased 6.1% to 1,327.67 pence despite the infrastructure and transportation solutions provider reporting nearly two-third increase in pre-tax earnings in 2022.
- Brian Turner
- 08 Mar, 2023
- New York City
The number of job openings declined slightly in January by 41,000 to 10.824 million from an upwardly revised 11.234 million in December, the JOLT survey from the U.S. Labor Department showed Wednesday.
Job openings in construction declined by 240,000, leisure and food services by 204,000 and insurance and financial services by 100,000 but rose in transportation, warehousing and utilities by 94,000 and nondurable goods manufacturing by 50,000.
Total hires in the month increased to 6.37 million, the largest total since August and separations were stable at 5.9 million. Quits within separations fell to 3.88 million and layoffs and discharges rose 16% or 241,000 to 1.7 million.
The JOLT data showed that 1.9 jobs were available per worker, slightly lower than in the previous months.
Record High Quits In 2022
In 2022, the annual average job openings level was 11.2 million, an increase of 1.2 million from 2021.
The annual average job openings rate was 6.8% in 2022, compared to 6.4% in 2021.
In 2022, there were 77.2 million hires, an increase of 1.2 million from 2021 and total separations increased 3.2 million in 2022 to 72.3 million.
Accounting for 70% of total separations, quits numbered 50.6 million in 2022, the highest annual level in the survey’s history dating back to 2001.
Layoffs and discharges increased by 461,000 in 2022 to 17.6 million and accounted for 24.3% of total separations.
Other separations decreased by 138,000 in 2022 to 4.1 million and accounted for 5.7% of total separations.
- Brian Turner
- 08 Mar, 2023
- New York City
The U.S. trade deficit in goods and services increased slightly in January after exports rose faster than imports, the Bureau of Economic Analysis reported Wednesday.
Exports increased 3.4% and soared 13.3% to $257.5 billion.
Imports rose 3.0% from the previous month and jumped 3.5% to $325.7 billion.
Overall trade deficit for goods and services increased 1.6% from the previous month but fell 21.9% from the previous year to $68.3 billion.
The changing nature of international supply chain was visible in the latest trade statistics as manufacturing shifted away from China to Indo Pacific and Mexico.
The U.S. recorded largest trade deficit with China but the amount has been declining as more manufacturing is shifted to Vietnam and other countries.
The international goods trade deficit with China was $21.9 billion, with the EU $18.5 billion, Mexico $12.2 billion, Vietnam $8 billion, Japan $5.6 billion and Canada $5.4 billion.
The U.S. recorded goods trade surpluses with South and Central America of $4.8 billion, the UK $2.7 billion, Australia $1.5 billion and Hong Kong $1.5 billion.
- Scott Peters
- 08 Mar, 2023
- New York City
BlackBerry Ltd increased 4.2% to $3.65 after the cybersecurity company reported preliminary quarterly results.
BlackBerry Limited said preliminary revenue in the fourth quarter is expected to be $151 million, including $107 million in cybersecurity billings.
BlackBerry’s results are expected to include a material non-cash, one-time goodwill impairment charge of as much as $440 million for the Spark reporting unit.
Total revenue in the full-year 2022 is expected to be $656 million, including cybersecurity revenue of $401 million.
Fourth quarter and full-year fiscal year 2023 revenue for BlackBerry’s Cybersecurity business unit is expected to be lower than the outlook provided during the third quarter's earnings call, primarily due to certain large government deals taking longer-than-expected.
CarParts.com, Inc decreased 2.7% to $5.95 after the online automobile parts seller reported a slightly larger quarterly loss compared to a year ago.
CarParts.com, Inc said revenue in the fourth quarter increased 12% from a year ago to $154.5 million and jumped 27% on a two-year stack.
Net loss expanded to $6.2 million from $5.0 million and diluted loss per share rose to 11 cents from 10 cents a year ago.
In the full-year, revenue increased 14% from a year ago to a record $661.6 million and increased 45% on a two-year stack.
Net loss shrank to $1.0 million from $10.0 million and diluted loss per share declined to 2 cents from 20 cents a year ago.
Cricut Inc fell 2.2% to $8.80 after the maker of connected cutting machines reported a decline in revenue and earnings in the fourth quarter.
Revenue in the quarter declined to $280.8 million from $387.8 million and net income dropped to $10.9 million from $11.9 million and diluted earnings per share was flat at 5 cents.
Full-year 2022 revenue declined to $886.3 million from to $1.3 billion and net income declined to $60.7 million from $140.5 million and diluted earnings per share fell to 28 cents from 64 cents a year ago.
Crowdstrike Holdings Inc added 1.3% to $126.57 after the cybersecurity company reported better-than-expected quarterly results. Revenue in the fourth quarter increased to $637 million and earnings per share rose to 47 cents.
Occidental Petroleum Corporation increased 1.4% to $61.70 after a regulatory filing showed that the Warren Buffett controlled Berkshire Hathaway increased its stake in the company by purchasing 5.8 million additional shares last week.
Harte Hanks, Inc increased 0.3% to $10.23 after the direct mail services company reported an increase in revenue in its latest quarter.
Harte Hanks, Inc said revenue in the fourth quarter increased 5.4% to $54.8 million from $52.0 million a year ago.
Net income increased to $21.8 million, inclusive of a one-time $19.8 million tax benefit and $1.4 million in other expenses mainly related to pension expense and foreign currency loss, compared to net income of $1.8 million a year ago.
Diluted earnings per share was $2.70 compared to 20 cents a year ago. In the full-year 2022, revenues increased 6% to $206.3 million from $194.6 million and net income rose to $36.8 million from $15 million and diluted earnings per share was $4.75 compared to $1.76 a year ago.
Stitch Fix Inc dropped 13.5% to $4.31 after the online fashion platform reported wider-than-expected loss.
Stitch Fix Inc said revenue in the fiscal second quarter ended on January 28 declined 20% to $412.1 million and net loss expanded to $65.6 million from $30.9 million and diluted loss per share rose to 58 cents from 28 cents a year ago.
Active clients in the quarter declined 11% to 3.6 million and net revenue per active client fell 6% to $516 million.
The company forecasted revenue in the fiscal third quarter ending on April 29 in the range between $385 million and $395 million, a decline between 20% and 22% from the previous year.
- Barry Adams
- 08 Mar, 2023
- New York City
Major averages edged higher as investors digested recent comments from the Federal Reserve chairman and awaited Friday's jobs data.
U.S. Treasury yields hovered near 16-year highs as investors mulled faster rate hikes and higher peak rates in the month ahead.
Private payrolls expanded at a faster pace in February, suggesting tight labor market conditions to persist despite multiple rate hikes over the last twelve months.
What is good news on the Main Street is bad news on Wall Street as investors fear that rates may have to go further in the restrictive territory before the inflation cools and may push the economy towards a recession.
Employment report tracking payrolls across all sectors of the economy are scheduled to be released on Friday by the U.S. Labor Department and investors are anticipating net job gains of closer to 300,000.
February Private Payrolls Growth Accelerated
Private sector net job addition accelerated in February, according to the latest monthly report released by the payrolls processing company ADP.
U.S. private payrolls increased by 242,000 in February, higher than the revised 119,000 increase in January.
The February's gains were driven by 190,000 additions in the service sector and 52,000 increase in the manufacturing sector.
Overall wage gains decelerated to 7.2%.
U.S. Trade Deficit Edged Higher In January
The U.S. trade deficit in goods and services increased slightly in January after exports rose faster than imports, the Bureau of Economic Analysis reported Wednesday.
Exports increased 3.4% and soared 13.3% to $257.5 billion.
Imports rose 3.0% from the previous month and jumped 3.5% to $325.7 billion.
Overall trade deficit for goods and services increased 1.6% from the previous month but fell 21.9% from the previous year to $68.3 billion.
Indexes & Yields
The S&P 500 index increased 0.1% to 3,992.05 and the Nasdaq Composite index inched higher to 0.4% to 11,576.86.
The yield on 2-year Treasury notes hovered near 5.0%, 10-year Treasury notes inched lower to 3.96% and 30-year Treasury bonds traded around 3.84%.
Crude oil prices declined 96 cents to $76.58 a barrel and natural gas prices eased 14 cents to $2.54 a thermal unit.
U.S. Stock Movers
Occidental Petroleum Corporation increased 1.4% to $61.70 after a regulatory filing showed that the Warren Buffett controlled Berkshire Hathaway increased its stake in the company by purchasing 5.8 million additional shares last week.
Crowdstrike Holdings Inc added 1.3% to $126.57 after the cybersecurity company reported better-than-expected quarterly results. Revenue in the fourth quarter increased to $637 million and earnings per share rose to 47 cents.
Stitch Fix Inc dropped 13.5% to $4.31 after the online fashion platform reported wider-than-expected loss.
Stitch Fix Inc said revenue in the fiscal second quarter ended on January 28 declined 20% to $412.1 million and net loss expanded to $65.6 million from $30.9 million and diluted loss per share rose to 58 cents from 28 cents a year ago.
BlackBerry Ltd increased 4.2% to $3.65 after the cybersecurity company reported preliminary quarterly results.
BlackBerry Limited said preliminary revenue in the fourth quarter is expected to be $151 million, including $107 million in cybersecurity billings.