Articles from StockStory

Fashion conglomerate PVH (NYSE:PVH) announced better-than-expected revenue in Q3 CY2024, but sales fell by 4.6% year on year to $2.26 billion. Its non-GAAP profit of $3.03 per share was 17% above analysts’ consensus estimates.

Young adult apparel retailer American Eagle Outfitters (NYSE:AEO) fell short of the market’s revenue expectations in Q3 CY2024, with sales flat year on year at $1.29 billion. Its non-GAAP profit of $0.48 per share was 3.4% above analysts’ consensus estimates.

Cyber security company SentinelOne (NYSE:S) met Wall Street’s revenue expectations in Q3 CY2024, with sales up 28.3% year on year to $210.6 million. The company expects next quarter’s revenue to be around $222 million, coming in 0.6% above analysts’ estimates. Its GAAP loss of $0.25 per share was 22.3% below analysts’ consensus estimates.

Aerospace and defense company AeroVironment (NASDAQ:AVAV) reported Q3 CY2024 results topping the market’s revenue expectations, with sales up 4.2% year on year to $188.5 million. On the other hand, the company’s full-year revenue guidance of $805 million at the midpoint came in 2.8% below analysts’ estimates. Its non-GAAP profit of $0.47 per share was 30.9% below analysts’ consensus estimates.

EV charging solutions provider ChargePoint Holdings (NYSE:CHPT) reported revenue ahead of Wall Street’s expectations in Q3 CY2024, but sales fell by 9.7% year on year to $99.61 million. On the other hand, next quarter’s revenue guidance of $100 million was less impressive, coming in 1% below analysts’ estimates. Its GAAP loss of $0.18 per share was in line with analysts’ consensus estimates.

Bank software company nCino (NASDAQ:NCNO) reported Q3 CY2024 results beating Wall Street’s revenue expectations, with sales up 13.8% year on year to $138.8 million. On the other hand, next quarter’s revenue guidance of $140.5 million was less impressive, coming in 2.3% below analysts’ estimates. Its non-GAAP profit of $0.21 per share was 31.3% above analysts’ consensus estimates.

Customer experience software provider Sprinklr (NYSE:CXM) reported revenue ahead of Wall Street’s expectations in Q3 CY2024, with sales up 7.7% year on year to $200.7 million. Guidance for next quarter’s revenue was better than expected at $200.5 million at the midpoint, 2% above analysts’ estimates. Its non-GAAP profit of $0.10 per share was 25.1% above analysts’ consensus estimates.

Discount retailer Five Below (NASDAQ:FIVE) reported revenue ahead of Wall Street’s expectations in Q3 CY2024, with sales up 14.6% year on year to $843.7 million. The company expects next quarter’s revenue to be around $1.37 billion, close to analysts’ estimates. Its non-GAAP profit of $0.42 per share was significantly above analysts’ consensus estimates.

Shares of low code software development platform provider Appian (Nasdaq: APPN) jumped 6.5% in the morning session after market optimism around innovators in the software as a service (SaaS) space continued to improve following strong earnings from Salesforce. The enterprise software giant showcased clear progress in capturing demand for AI solutions, signing 200 deals within a week of launching Agentforce, its new AI platform for enterprise customers. In addition, Salesforce reported thousands more deals in the pipeline, hinting at robust future growth. 

Shares of contract logistics company GXO (NYSE:GXO) fell 13.9% in the morning session after Bloomberg reported that the company turned down acquisition offers after exploring options in recent months. The stock recorded double-digit gains after Bloomberg first reported news of a potential sale. However, today's move indicates the market is adjusting its expectations, tempering enthusiasm around a possible acquisition. Separately, Chief Executive Officer Malcolm Wilson announced plans to retire next year (2025), creating additional uncertainty, which the market doesn't like.

Shares of identity management software maker Okta (OKTA) jumped 16.8% in the pre-market session after the company reported a "beat and raise" quarter. Revenue and EPS came in much higher than Wall Street's estimates during the quarter. It also raised full-year EPS guidance and beat analysts' full-year revenue guidance expectations. However, despite the promising outlook, there were cautious comments on the macro picture as the business continued to observe a challenging operating environment, with organizations scrutinizing budgets. Zooming out, we think this was still a decent quarter, given the challenging macro backdrop.

Shares of automation software company UiPath (NYSE:PATH) jumped 7.9% in the morning session after market optimism around innovators in the software as a service (SaaS) space continued to improve following strong earnings from Salesforce. The enterprise software giant showcased clear progress in capturing demand for AI solutions, signing 200 deals within a week of launching Agentforce, its new AI platform for enterprise customers. In addition, Salesforce reported thousands more deals in the pipeline, hinting at robust future growth. 

Shares of streaming TV platform Roku (NASDAQ: ROKU) jumped 13.1% in the afternoon session after Needham analyst Laura Martin suggests Roku could command a significant buyout premium, positioning it as an attractive candidate for a merger with a competitor. Martin outlined six compelling reasons for an acquisition, emphasizing Roku's extensive installed base, unique data sets, pricing power, shelf space dominance, the advantages of buying over building, and its status as the only scaled connected TV (CTV) platform currently available for purchase. 

Shares of cloud content storage and management platform Box (NYSE:BOX) fell 7.6% in the morning session after the company reported underwhelming third-quarter financial results. Its revenue was in line, and its billings slightly missed. 

Shares of discount treasure-hunt retailer Dollar Tree (NASDAQ:DLTR) jumped 7.6% in the pre-market session after the company reported impressive third-quarter results, which blew past analysts' sales, profit, and earnings expectations. Sales were driven by a 1.6% increase in traffic and a 0.2% increase in average tickets. The company added that it is making progress on plans to sell the Family Dollar business. The company also noted the plan to close 24 more underperforming stores as a part of its portfolio optimization drive. While these closures are expected to improve operational efficiency and contribute to margin expansion over time, they may create a temporary headwind for earnings growth, which likely contributed to the underwhelming EPS guidance for the next quarter. Overall, this was a strong quarter, with several promising aspects.

Shares of customer relationship management software maker Salesforce (NYSE:CRM) jumped 13.4% in the morning session after the company reported third-quarter results that exceeded analysts' sales and adjusted operating income expectations. On the other hand, EPS and some top-line growth indicators, including billings and remaining performance obligations (RPO), fell slightly below consensus estimates as products like Tableau, MuleSoft, and Slack revealed some weaknesses. Despite the mixed top-line result, CRM recorded double-digit growth in the Sales and Service Cloud segments, which is encouraging. 

Shares of women’s plus-size apparel retailer Torrid Holdings (NYSE:CURV) fell 33.9% in the morning session after the company reported weak third-quarter results, which missed analysts' revenue and EBITDA expectations. Its full-year revenue and EBITDA guidance also fell short of Wall Street's estimates. The company observed soft sales trends in late September, which continued through October. Macroeconomic pressures, such as constrained consumer spending and adverse weather events, also created a difficult operating environment. Looking ahead, management emphasizes the need for more innovative and diversified product strategies to adapt to shifting consumer preferences​. Overall, this was a weaker quarter.

Shares of footwear and apparel retailer Foot Locker (NYSE:FL) fell 17.3% in the pre-market session after the company reported disappointing third-quarter results: Revenue and EPS in the quarter fell below Wall Street's expectations. The company observed softer consumer spending trends following the peak Back-to-School period in August. Compounding the issue, a more aggressive promotional environment likely weakened its pricing power, adding pressure to margins. Its full-year EPS guidance also missed significantly. Overall, this was a weaker quarter.

Shares of artificial intelligence (AI) software company C3.ai (NYSE:AI) jumped 6.1% in the morning session after market optimism around innovators in the software as a service (SaaS) space continued to improve following strong earnings from Salesforce. The enterprise software giant showcased clear progress in capturing demand for AI solutions, signing 200 deals within a week of launching Agentforce, its new AI platform for enterprise customers. In addition, Salesforce reported thousands more deals in the pipeline, hinting at robust future growth. 

Shares of enterprise workflow software maker ServiceNow (NYSE:NOW) jumped 6% in the morning session after market optimism around innovators in the software as a service (SaaS) space continued to improve following strong earnings from Salesforce. The enterprise software giant showcased clear progress in capturing demand for AI solutions, signing 200 deals within a week of launching Agentforce, its new AI platform for enterprise customers. In addition, Salesforce reported thousands more deals in the pipeline, hinting at robust future growth. 

Shares of networking chips designer Marvell Technology (NASDAQ: MRVL) jumped 22.6% in the afternoon session after the company reported strong third-quarter results that exceeded Wall Street's sales and earnings expectations. Sales grew by 19% sequentially amid unwavering AI demand, particularly in data center end markets. In addition, Marvell expects to significantly exceed the guide of $1.5B for AI revenue this year and is optimistic about achieving its $2.5 billion target for FY26. Looking ahead, its full-year revenue and EPS guidance also exceeded consensus estimates. 

Shares of database as a service company Couchbase (NASDAQ: BASE) fell 23% in the morning session after the company reported weak third-quarter results and provided revenue guidance for the next quarter, which missed significantly - this matters much more as markets are forward-looking. The company provided conservative guidance due to macroeconomic challenges, limiting insights into upsell, migration timelines, and consumption trends. On the other hand, revenue and earnings came in ahead of expectations during the quarter. Overall, this was a challenging quarter.

E-commerce pet food and supplies retailer Chewy (NYSE:CHWY) beat Wall Street’s revenue expectations in Q3 CY2024, with sales up 4.8% year on year to $2.88 billion. Its non-GAAP profit of $0.20 per share was 12.8% below analysts’ consensus estimates.

Footwear and apparel retailer Foot Locker (NYSE:FL) missed Wall Street’s revenue expectations in Q3 CY2024, with sales falling 1.4% year on year to $1.96 billion. Its non-GAAP profit of $0.33 per share was 18.4% below analysts’ consensus estimates.

Discount treasure-hunt retailer Dollar Tree (NASDAQ:DLTR) reported revenue ahead of Wall Street’s expectations in Q3 CY2024, with sales up 3.5% year on year to $7.57 billion. The company expects next quarter’s revenue to be around $8.2 billion, close to analysts’ estimates. Its non-GAAP profit of $1.12 per share was 4.1% above analysts’ consensus estimates.