Levi Strauss Falls 15%, BlackBerry Narrows Losses, Micron Issues In-Line Projections Post Strong 3Q Results
27 Junho 2024 - 8:07AM
IH Market News
Levi Strauss (NYSE:LEVI) – Despite the growing
popularity of jeans, Levi Strauss reported second fiscal quarter
revenues slightly below Wall Street expectations, with $1.44
billion versus the $1.45 billion expected. However, the company
exceeded adjusted earnings per share expectations, with 16 cents
versus the 11 cents predicted. The company increased its dividend
by 8% and reaffirmed its projections for the year. Shares fell
14.8% in pre-market trading.
BlackBerry Ltd. (NYSE:BB) –
BlackBerry reported a loss of $42 million in the last quarter, or 7
cents per share, but the result was better than expected as the
company works to return to adjusted profitability. The adjusted
loss was 3 cents per share, beating expectations of a 5-cent per
share loss. Quarterly revenue was $144 million, above the
expectation of $131.6 million. For the next quarter, BlackBerry
forecasts revenue between $136 million and $144 million, with an
adjusted loss per share of 2 to 4 cents. Shares rose 5.9% in
pre-market trading.
Micron Technology (NASDAQ:MU) – Micron
Technology exceeded expectations in the third fiscal quarter, with
adjusted earnings of 62 cents per share and revenue of $6.81
billion, above the $6.67 billion expected. Despite these positive
results, shares fell about 5.5% in pre-market trading as investors
focused more on the aligned revenue forecast for the next quarter.
The company forecasts adjusted earnings of $1.08 per share and
revenue of $7.6 billion for the next quarter.
Jefferies Financial (NYSE:JEF) – Jefferies
Financial exceeded profit estimates for the second quarter,
benefiting from higher advisory fees on deals and underwriting of
stocks and bonds. Net income for common shareholders jumped to
$145.7 million, or 64 cents per share, beating the forecast of 63
cents. Total revenue rose 60%, reaching $1.66 billion, above the
$1.59 billion expected. Shares are stable in pre-market
trading.
AeroVironment (NASDAQ:AVAV) – AeroVironment, a
defense contractor, reported fourth fiscal quarter earnings and
revenue that exceeded analysts’ expectations. AeroVironment
reported earnings per share of 43 cents, surpassing analysts’
estimates of 21 cents. Additionally, the company reported revenue
of $196.98 million, exceeding analysts’ forecast of $188.56 million
by 4.46%. The company announced that it is “on track to achieve
nearly 12% revenue growth in fiscal 2025, with expected revenue
between $790 million and $820 million.”
General Mills (NYSE:GIS) – General Mills, the
maker of Cheerios cereal, forecast annual profit below estimates
and reported a larger-than-expected decline in quarterly sales,
affected by lower demand for its snack bars and pet foods, as well
as higher input costs. The company also anticipates annual growth
in its business value below its long-term projections, which led to
a drop in its shares. The company reported fourth-quarter adjusted
earnings of $1.01 per share, beating Wall Street’s forecast of 99
cents but down from $1.12 the previous year. Revenue was $4.71
billion, a 6% drop from the same period last year and below
expectations of $4.85 billion. The company also announced that its
board approved a 2% increase in the quarterly dividend, to 60 cents
per share.
Paychex (NASDAQ:PAYX) – Paychex exceeded
quarterly earnings and sales expectations, with adjusted earnings
of $1.12 per share, above the $1.10 expected, and total revenue of
$1.295 billion, slightly above the $1.293 billion expected. Revenue
grew 5% year over year. For fiscal 2025, the company projects
revenue growth between 4% and 5.5% and an increase of 5% to 7% in
adjusted earnings per share.
AeroVironment (NASDAQ:AVAV)
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