Roku, Foot Locker, Alibaba & extra
Patrick T. Fallon | Bloomberg | Getty Pictures
Alibaba — Alibaba inventory dropped about 4.5% amid escalating tensions between the U.S. and China. Earlier this week, the U.S. Senate handed a invoice by unanimous consent that would end result within the delisting of Chinese language corporations like Alibaba. Friday’s decline got here regardless of a stellar earnings report from the Chinese language e-commerce big. Alibaba beat estimates on each the highest and backside strains for its fiscal fourth quarter, and topped $1 trillion in gross merchandise quantity for the primary time because of a surge in demand amid the coronavirus pandemic.
Roku — Streaming platform Roku fell about 4.5% following a downgrade to equal weight from chubby at Stephens. The explanation for the maintain ranking centered round Roku’s partnership with Good TV firm TCL. Stephens stated though the partnership is nice from a market perspective, there’s not a lot upside for Roku. “We do not assume it will possibly get significantly better from right here for Roku,” the analyst stated.
Foot Locker — Shares of Foot Locker tumbled almost 12% after the athletic footwear and attire retailer posted disappointing quarterly outcomes. The corporate misplaced an adjusted 67 cents per share for its newest quarter, wider than the 25-cent loss that Wall Avenue was anticipating, in response to Refinitiv. Foot Locker additionally briefly suspended its quarterly dividend amid the downturn introduced on by the pandemic.
Deere — The gear maker gained greater than 1% after the corporate beat top- and bottom-line expectations for the second quarter. Deere earned $2.11 per share, in contrast with estimates of $1.62, whereas income got here in at $8.22 billion, which was forward of estimates however decrease than in the identical quarter final yr. The corporate additionally stated that it expects world gear gross sales to drop between 30% and 40% this yr because of the pandemic.
Lululemon Athletica — Inventory of the athletic retailer jumped greater than 1% to a brand new all-time excessive after the corporate stated that it has reopened 150 shops throughout North America, Europe, Asia, New Zealand and Australia. The retailer stated it has plans to reopen an extra 200 shops within the subsequent two weeks.
Deckers Out of doors — The footwear inventory jumped greater than 6% after reporting increased than anticipated income for its fiscal fourth quarter. The corporate reported $374.9 million of income for the quarter, whereas analysts anticipated $355.4, in response to Refinitiv. Internet gross sales of the corporate’s Hoka One One and Teva manufacturers each elevated throughout the quarter.
Hewlett Packard — Shares of the know-how firm dropped roughly 12% after reporting quarterly outcomes that missed expectations. The corporate reported adjusted earnings per share of 22 cents and $6.01 billion in income for its fiscal second quarter. Wall Avenue analysts had been in search of 29 cents of per-share earnings and $6.30 billion of income, in response to Refinitiv. The corporate’s CEO stated in an announcement that the backlog of orders was twice as giant as regular because of the pandemic.
e.l.f. Magnificence — Shares of the cosmetics firm rallied greater than 16% on the again of better-than-expected outcomes for its fiscal fourth quarter. E.l.f. earned 6 cents per share on income of $74.7 million. Analysts polled by FactSet anticipated a revenue of 5 cents a share on gross sales of $67 million. “Given our fiscal 2020 outcomes and execution of our 5 strategic imperatives, we imagine we’re effectively positioned relative to the class to navigate the challenges posed by COVID-19,” CEO Tarang Amin stated in an announcement.
— CNBC’s Fred Imbert, Pippa Stevens, Maggie Fitzgerald, Jesse Pound and Yun Li contributed reporting.
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