Hawaiian down on 'cocktail of bad news'
Hawaiian Electric Industries Inc shares plummeted another 20%, to $9.47, after it suspended its dividend following the Maui wildfires.
This was one of a number of details in what’s described as a cocktail of bad news for the islands’ power utility – among the others are a credit downgrade from S&P, and, Maui County filing a suit against the company.
Relief rally for sports retailer
Hibbett Inc (NASDAQ:HIBB) stock soared, up 19% at $44.16, in a relief rally on ‘better-than-feared’ quarterly financials.
The Hibbett Sporting Goods parent reported its sales declined by 4.6% to $374.9 million, with net income at $10.9 million. Earnings per share were 85 cents, beating Wall Street's lowly expectations.
Workday boosted by subs revenue
Workday Inc (NASDAQ:WDAY) started Friday just over 3% higher, at $231.84, after reporting a 19% increase in subscription revenue during the second quarter, to total $1.62 billion.
It helped total revenue reach $1.79 billion, surpassing analyst estimates.
Adjusted earnings per share meanwhile surged 72% to $1.43, and, the HR software company raised its fiscal 2024 subscription revenue guidance.
No Nvidia-like buzz for Marvell
Despite surpassing market expectations with its Q2 results, Marvell Technology (NASDAQ:MRVL) stock slid in premarket, extending a nearly 7% decline from the previous day. The stock was down another 7% today, trading at $53.06 per share.
The company reported earnings of 33 cents per share, slightly above the 32 cents anticipated by analysts. Revenue was $1.34 billion, marginally beating the forecast of $1.34 billion, but representing YoY declines of 42% and 12% respectively.
Chief executive, Matt Murphy, emphasized the growing demand for AI, which is driving their revenue outlook.
The Gap nudges higher
Gap Inc (NYSE:GPS) stock got off to a good start on Friday, up 3.8% at $9.90, after reporting mixed second-quarter results with revenue of $3.55 billion, down 8% YoY and slightly below the expected $3.57 billion. However, earnings stood at $0.34 per share, surpassing the anticipated $0.09 per share.
The company's guidance for the next quarter indicates a decline in net sales.
Intuit dips in early deals
Intuit Inc (NASDAQ:INTU) reversed early negativity, to rise 1.8% to $507.41, overcoming the release of first-quarter revenue projection at the lower end of analysts' estimates.
In Thursday’s after-hours trading, the bookkeeping software firm reported a 12% year-on-year increase in revenue for its fiscal fourth quarter, reaching $2.71 billion, and adjusted earnings of $1.66 per share, which both surpassed Wall Street expectations.
Nordstrom extends decline
Nordstrom Inc (NYSE:JWN) stock slumped nearly 8% following Thursday’s after-hours results, which included the revelation that the department store had seen its highest-ever level of shoplifting.
On the financials, Nordstrom reported better-than-expected Q2 sales and earnings, with an EPS of $0.84 and revenue of $3.77 billion, a decline of 8.3% year-on-year but above the expected $3.67 billion.
Factors like the wind-down of its Canadian operations and the shift in its ‘Anniversary Sale’ timing impacted sales. Excluding these factors, sales would have decreased by about 4% year-on-year, it said.