U.S. Movers: Box, MongoDB, Toll Brothers

Toll Brothers increased 2% to $89.0 after the luxury home builder reported better-than-expected quarterly results.

Revenue in the fiscal fourth quarter ending in October declined to $3.02 billion from $3.7 billion, net income decreased to $445.5 million from $640.5 million, and diluted earnings per share dropped to $4.11 from $5.63 a year ago.

The backlog of homes at the end of October declined 19% to 6,578 and the value of the backlog fell 22% to $6.95 billion.

During the quarter, the company repurchased approximately 4.3 million shares at an average price of $75.70 per share, for a total of $325.5 million.

In the fiscal year, the home builder repurchased approximately 7.9 million shares at an average price of $72 per share, for a total purchase price of $565.9 million.

The home developer estimated home deliveries in the fiscal 2024 first quarter to range between 1,800 and 1,900 units and the average delivery price per unit to range between $985,000 and $1.05 million.

MongoDB decreased by 5% to $412.0 after the database developer reported quarterly results.

Total revenue in the third quarter increased 30% from a year ago to $432.9 million, and subscription revenue advanced 30% to $418.3 million.

Net loss in the quarter shrank to $29 million from $84 million, and diluted loss per share decreased to 41 cents from $1.23 a year ago.

The company guided fiscal fourth quarter revenue to range between $429 million and $433 million, adjusted earnings between $35 million and $38 million, and adjusted earnings per share between 44 cents and 46 cents.

Box Inc. fell 12.2% to $23.41 after the cloud-based content management software developer reported a muted increase in quarterly revenues and earnings.

Revenue in the fiscal third quarter increased 5% to $261.5 million from $249.9 million, net income increased to $5.64 million from $4.98 million, and diluted earnings per share rose to 4 cents from 3 cents a year ago.

The company estimated fiscal year 2024 revenue between $1.037 billion and $1.039 billion, an increase of 5% at the top of the range, and net income between 15 cents and 16 cents, including an unfavorable exchange rate impact of 17 cents.

MongoDB decreased by 5% to $412.0 after the database developer reported quarterly results.

Total revenue in the third quarter increased 30% from a year ago to $432.9 million, and subscription revenue advanced 30% to $418.3 million.

Net loss in the quarter shrank to $29 million from $84 million, and diluted loss per share decreased to 41 cents from $1.23 a year ago.

The company guided fiscal fourth quarter revenue to range between $429 million and $433 million, adjusted earnings between $35 million and $38 million, and adjusted earnings per share between 44 cents and 46 cents.

Box Inc. fell 12.2% to $23.41 after the cloud-based content management software developer reported a muted increase in quarterly revenues and earnings.

Revenue in the fiscal third quarter increased 5% to $261.5 million from $249.9 million, net income increased to $5.64 million from $4.98 million, and diluted earnings per share rose to 4 cents from 3 cents a year ago.

The company estimated fiscal year 2024 revenue between $1.037 billion and $1.039 billion, an increase of 5% at the top of the range, and net income between 15 cents and 16 cents, including an unfavorable exchange rate impact of 17 cents.

Toll Brothers increased 2% to $89.0 after the luxury home builder reported better-than-expected quarterly results.

Revenue in the fiscal fourth quarter ending in October declined to $3.02 billion from $3.7 billion, net income decreased to $445.5 million from $640.5 million, and diluted earnings per share dropped to $4.11 from $5.63 a year ago.

The backlog of homes at the end of October declined 19% to 6,578 and the value of the backlog fell 22% to $6.95 billion.

During the quarter, the company repurchased approximately 4.3 million shares at an average price of $75.70 per share, for a total of $325.5 million.

In the fiscal year, the home builder repurchased approximately 7.9 million shares at an average price of $72 per share, for a total purchase price of $565.9 million.

The home developer estimated home deliveries in the fiscal 2024 first quarter to range between 1,800 and 1,900 units and the average delivery price per unit to range between $985,000 and $1.05 million.

Job openings declined sharply in October after employers across the nation in several industries curtailed announcements for new hires.

The number of job openings declined by 617,000 to 8.7 million, the U.S. Bureau of Labor Statistics reported Tuesday.

Over the month, job openings decreased in health care and social assistance by 236,000.finance and insurance by 168,000, and real estate and rental and leasing by 49,000.

But job openings increased in information by 39,000.

The widespread decline in job vacancies lowered the ratio of openings to available workers to 1.3 to 1 from around 2 to 1 earlier in the year.

On a regional basis, job openings fell in the South by 289,000, the Midwest by 193,000, the West by 83,000, and the Northeast by 52,000.

Over the month, the number of hires and total separations changed little, at 5.9 million and 5.6 million, respectively.

Within separations, quits were 3.6 million, and layoffs and discharges were 1.6 million, and both changed little.

While job openings fell, the number of hires fell slightly, and quits, the measure of workers confidence in finding another job, declined little.

Samsara jumped 13.1% to $31.15 after the IoT company reported quarterly results.

Revenue in the third quarter ending in October rose 40% to $237.5 million from $169.8 million, net loss shrank to $45.5 million from $58.6 million, and diluted loss per share eased to 8 cents from 11 cents a year ago.

The company forecasted revenue in the fourth quarter to fall between $257 million and $259 million and for the full-year 2024 to range between $918 million and $920 million.

Revenue in the fourth quarter is expected to rise between 38% and 39%, and in the full-year advance, 41% from a year ago.

Ulta Beauty soared 11.4% to $474.48 after the company reported strong third-quarter results and tightened its full-year revenue outlook.

Revenue in the third quarter ending in October increased to $2.5 billion from $2.3 billion, comparable store sales growth plunged to 4.5% from 14.6%, and the company opened a net of 12 new stores compared to 18 a year ago.

Net income decreased to $249.5 million from $274.5 million, and diluted earnings per share fell to $5.07 from $5.34 a year ago.

The company estimated a full-year revenue range between $11.10 billion and $11.15 billion, up from the previous estimate between $11.05 billion and $11.15 billion.

The company reiterated its net new store opening estimate between 25 and 30, and its diluted earnings per share estimate was revised to a new range between $25.20 and $25.60 from the previous estimate between $25.10 and $25.60.

Comparable sales are estimated to fall between 5.0% and 5.5% from the previous estimate between 4.5% and 5.5%.

Walt Disney increased 0.2% to $92.92 after the theme park and movie studio operator reinstated its 30 cents per share dividend.

The company is battling a proxy fight challenge from activist investor Nelson Peltz, and his fund is seeking multiple board seats.

J.M. Smucker advanced 2.6% to $115.34, and the stock lacked direction after the food maker lowered its annual expectations after revenue plunged 12% from a year ago.

Revenue in the fiscal second quarter ending in October declined 12% to $1.94 billion from $2.2 billion, net income increased 2% to $194.9 million from $191.1 million, and diluted earnings per share rose to $1.90 from $1.79 a year ago.

The company tightened the upper end of its comparable sales estimate and lowered its view of free cash flow and adjusted earnings per share.

The comparable sales outlook range for fiscal 2024 was tightened to between 8.9% and 9% from the previous range of 8.5% and 9.5%, and the adjusted earnings per share range was between $9.25 and $9.65 from the previous estimate of between $9.45 and $9.85.

The company also sharply lowered its full-year free cash flow estimate to $530 million from $650 million, but its capital expenditure to increase to $610 million from the previous estimate of $550 million.

Lands End fell 3.5% to $6.45 after the apparel retailer reported weaker-than-expected quarterly results.

Revenue in the third quarter declined 12.5% to $324.7 million from $371 million, and revenue fell 9.5% excluding Land's End Japan, which closed at the end of fiscal 2022.

Net loss expanded to $112.4 million from $4.7 million, and diluted loss per share rose to $3.52 from 14 cents a year ago.

In the fourth quarter, the company estimated revenue to range between $490 million and $520 million, net income to range between $4 million and $7 million, and diluted earnings per share between 13 cents and 22 cents.

The company guided revenue in fiscal 2023 to be between $1.45 billion and $1.48 billion, net loss between $115 million and $118 million, and diluted loss per share between $3.60 and $3.70.

Gitlab soared 14.2% to $60.44 after the software developer reported better-than-expected quarterly results and the company reported adjusted operating profit for the first time.

Revenue in the third quarter increased 32% to $149.7 million from $113.0 million, net loss expanded to $285.2 million from $48.5 million, and diluted loss per share increased to $1.84 from 33 cents a year ago.

The company estimated fourth-quarter revenue to fall between $157 million and $158 million, non-GAAP operating income between $5 million and $6 million, and non-GAAP diluted earnings per share between 8 cents and 9 cents.

The company estimated revenue in the fiscal year 2024 to range between $573 million and $574 million, non-GAAP-adjusted losses between $8 million and $9 million, and non-GAAP-adjusted diluted earnings per share between 12 cents and 13 cents.

Coinbase Global jumped 9.2% to $146.10, and MicroStrategy advanced 8.2% to $571.0 after bitcoin surpassed the $40,000 level.

The surge in bitcoin also lifted the stock prices of other cryptocurrency-linked companies.

Marathon Digital Holdings soared 13% to $15.53, and Rio Platforms advanced 11.1% to $15.30.

Alaska Air Group declined 13.5% to $34.27 after the regional airline agreed to rival Hawaiian Airlines in a deal worth $1.9 billion.

Alaska Air agreed to pay $18 a share to the airline and assume $900 million of the company's debt.

Hawaii Airlines parent Hawaiian Holdings surged 181% to $13.65 in early trading, and cautious investors worried about the steep regulatory hurdles faced by the merger.

Spotify Technology jumped 6.4% to $192.30 after the music streaming company announced its plan to lay off 1,500 employees, or 17% of its staff.

The company said it hired too many people in 2020 and 2021, and it needs to control its costs and adjust to new market realities.

Europe Movers: British American Tobacco, Mining Stocks, TUI

European stocks extended their gains of the week on top of significant increases in the previous session. 

The DAX index increased 0.06% to 16,543.33, the CAC-40 index rose 0.1% to 7,393.55, and the FTSE 100 index advanced 0.3% to 7,513.13.

The yield on 10-year German bonds decreased to 2.25%; French bonds traded lower to 2.81%; the UK gilts declined to 4.05%; and Italian bonds inched lower to 4.00%.

TUI AG soared 10.5% to €6.57 after the tour operator reported operating profit that more than doubled in 2023.

Operating profit in the fiscal year 2023 ending in September surged 139% to €977 million from €568 million a year ago.

Revenue in the fourth quarter increased 11% to €8.5 billion, and operating profit jumped by €164 million to €1.203 billion.

For the full year 2023, the company swung to a profit of €306 million from a loss of €277 million a year ago.

The tour operator also lowered its debt to €1.3 billion from €3.4 billion, following strong operating cash flow and a successful €1.8 billion rights offering in April.

The tour operator forecasted revenue in fiscal 2024 to increase by "at least 10%" and underlying operating profit by "at least 25%."

British American Tobacco dropped 7.8% to 2,291.50 pence after the company reiterated its full-year 2023 earnings per share outlook.

The maker of cigarette and smokeless tobacco products generates strong cash flow, and the company said it is making progress in lowering its debt.

"BAT is a highly cash-generative business, and we expect to deliver close to 100% operating cash flow conversion in 2023.

We are making progress towards reaching the middle of our guided 2-3x adjusted net debt/adjusted EBITDA leverage range and expect to be around 2.7x by year end," said the company in an update to investors.

The company said it plans to generate more than 50% of its revenue from non-combustibles by 2035.

Mining companies were among the leading gainers after metal prices advanced in London trading.

Glencore increased 1.8% to 446.20 pence, Antofagasta gained 1.5% to 1,439.50 pence, and Anglo American advanced 2.1% to 2,199.50 pence.