Dexcom Shares Drop 37% on Weak Revenue and Forecast; Coursera Rises 24% After Beating Q2 Revenue Estimates
26 Julho 2024 - 6:57AM
IH Market News
Dexcom (NASDAQ:DXCM) – The continuous glucose
monitor company reported second-quarter revenue of $1 billion,
below the estimate of $1.04 billion, according to LSEG. Adjusted
earnings per share of 43 cents were better than the estimated 39
cents. However, Dexcom issued a reduced annual revenue forecast of
$4 billion to $4.05 billion. Dexcom shares plummeted 36.90%
pre-market.
Coursera (NYSE:COUR) – The online course
company reported second-quarter revenue of $170.337 million,
surpassing analysts’ estimate of $164.413 million, according to
LSEG. However, Coursera posted a loss of 15 cents per share, while
analysts expected a profit of 1 cent per share. Additionally,
Coursera announced that it surpassed 2 million enrollments in its
generative AI catalog and launched a record number of entry-level
Professional Certificates in partnership with industry leaders. The
shares jumped 23.75% pre-market.
Juniper Networks (NYSE:JNPR) – The networking
and cybersecurity solutions company reported adjusted earnings of
31 cents per share and revenue of $1.19 billion in the second
quarter. These results fell short of analysts’ estimates, which
predicted 44 cents per share in earnings and $1.25 billion in
revenue, according to LSEG. Non-GAAP net income fell 46% to $101.6
million. Despite the below-expected results, Juniper reported an
increase in orders, driven by AI initiatives and strong demand in
data centers. The $14 billion merger with Hewlett Packard
Enterprise is expected by the end of 2024 or early 2025.
L3Harris Technologies (NYSE:LHX) – The advanced
defense and technology company reported adjusted second-quarter
earnings of $3.24 per share, above the expected $3.18. Sales grew
13% to $5.3 billion. L3Harris raised its 2024 earnings forecast to
$12.85 to $13.15 per share. The projected revenue for 2024 is $21.0
billion to $21.3 billion. The shares fell 0.93% pre-market.
Lazard (NYSE:LAZ) – The investment bank more
than doubled its second-quarter profit compared to last year, with
revenue of $685 million, exceeding expectations. Financial advisory
revenue grew 19%, while asset management revenue fell 1%. The
shares rose 12% on Thursday, the best performance in four years,
driven by cost reductions and increased investment banking
activity.
LPL Financial (NASDAQ:LHX) – LPL Financial
reported adjusted earnings per share of $3.88, surpassing the
estimate of $3.71, but missed the GAAP earnings expectations of
$3.43, reaching $3.23. Revenue was $2.93 billion, slightly above
the expected $2.89 billion.
NatWest (NYSE:NWG) – NatWest Group reported
pre-tax revenue of £1.7 billion in the quarter, a decline of 4.1%,
but still above analysts’ expectations of £1.29 billion. The bank’s
net interest margin decreased by 10 basis points to 2.1%. Net
interest and fee income exceeded expectations, helping to boost the
bank’s shares. NatWest raised its annual revenue forecast to around
£14 billion ($18 billion), exceeding the previous estimate of £13
to £13.5 billion, after a strong quarter driven by high-interest
rates. The company also acquired a £2.5 billion mortgage portfolio
and expects to keep expenses stable compared to 2023 despite
inflation. The shares rose 6.80% pre-market.
Boston Beer Company (NYSE:SAM) – The renowned
craft beer company reported earnings of $4.39 per share on revenue
of $579 million, while analysts expected $5.02 per share in
earnings and $597 million in revenue, according to LSEG. Net income
fell 9.8% to $52.3 million. Boston Beer maintained its 2024
earnings per share projection of $7.00 to $11.00 but revised its
volume forecast downward.
Deckers Outdoor (NYSE:DECK) – The footwear and
sportswear company reported first fiscal quarter earnings of $4.52
per share, surpassing analysts’ forecasts of $3.48 per share.
Revenue reached $825 million, above the expectation of $808
million. Deckers raised its fiscal 2025 earnings per share forecast
to a range of $29.75 to $30.65, up from a previous range of $29.50
to $30.00. The shares rose 10.64% pre-market.
Skechers USA (NYSE:SKX) – The footwear and
apparel company announced a $1 billion share repurchase and raised
its annual profit and revenue projections, forecasting sales
between $8.875 billion and $8.975 billion, and earnings per share
between $4.08 and $4.18. In the second quarter, revenue rose 7.2%
to $2.16 billion, with net income of $164.5 million.
Mohawk Industries (NYSE:MHK) – The flooring and
coverings company reported adjusted earnings of $3 per share,
excluding items, on revenue of $2.8 billion in the second quarter.
Analysts polled by FactSet predicted earnings of $2.75 per share on
revenue of $2.84 billion. Mohawk announced further restructuring
measures to save $100 million annually, aiming to cut costs due to
weak market conditions.
Norfolk Southern (NYSE:NSC) – The US rail
operator exceeded second-quarter earnings estimates, with $3.06 per
share versus the expected $2.86, thanks to strong pricing and
intermodal volumes. Operating revenue rose 2% to $3 billion,
slightly below forecasts. The adjusted operating ratio improved to
65.1%, reflecting more efficient cost control.
3M (NYSE:MMM) – 3M reports second-quarter
results on Friday, while analysts expect earnings per share of
$1.68 and sales of $5.9 billion for the second quarter. Sales
growth and margins improved in the first quarter. For 2024, the
company expects 1% sales growth and earnings between $6.80 and
$7.30 per share. The shares fell 0.14% pre-market.
Bristol Myers (NYSE:BMY) – The pharmaceutical
company is scheduled to report before the market opens on Friday.
Analysts project Bristol Myers will report adjusted earnings of
$1.62 per share and revenue of $11.54 billion in the second
quarter.
3M (NYSE:MMM)
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