U.S. stock futures declined this morning, with the Nasdaq futures dipping over 100 points. Core & Main Inc’s disappointing second-quarter results and lowered guidance led to a sharp drop in its shares. Other stocks experiencing pre-market losses include Zscaler, Ascendis Pharma, Asana, Rev Group, PagerDuty, Dollar Tree, America’s Car-Mart, and Hormel Foods.
Dick’s Sporting Goods reported strong second-quarter earnings, exceeding analysts’ expectations on both earnings and revenue. The company raised its full-year earnings guidance and expects continued sales growth, although it acknowledged potential economic headwinds in the latter half of the year.
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This week saw a surge in performance for several large-cap stocks, driven by strong earnings reports, positive guidance, and analyst upgrades. Learn which companies saw the biggest gains and why.
Ulta Beauty, Inc. (ULTA) stock is trading lower on Friday after the company lowered its fiscal year 2024 guidance, citing weaker first-half trends and a more cautious outlook. The company also reported lower-than-expected second-quarter earnings, missing analyst estimates for both earnings per share and revenue. This news sent Ulta’s stock down over 2% in early trading.
Stratasys, a 3D printing company, reported disappointing second-quarter results, missing revenue expectations and lowering its full-year guidance. The company also announced plans to reduce its workforce by 15% to cut costs and improve profitability. Despite the negative news, some analysts remain optimistic about the company’s future prospects.
MongoDB Inc. (MDB) exceeded analysts’ expectations for the second quarter, posting strong revenue growth and profitability. The company also raised its guidance for the rest of the year, sending its shares up by over 4%. Several analysts adjusted their price targets on the stock following the positive earnings report, indicating continued confidence in MongoDB’s growth potential.
Elastic N.V. (ESTC) exceeded earnings expectations in the first quarter but issued a weaker-than-expected revenue forecast for the second quarter. While the company reported strong adoption of its generative AI offerings, segmentation changes are impacting customer commitments and slowing revenue growth. Despite the revised forecast, analysts downgraded the stock, and shares closed slightly higher.
Best Buy Co., Inc. (BBY) exceeded analysts’ expectations for its second-quarter financial results, reporting adjusted earnings per share (EPS) of $1.34. The company also raised its fiscal 2025 earnings guidance. Best Buy’s strong performance was driven by robust sales in its Domestic tablet and computing categories. Despite the positive results, Best Buy lowered its revenue outlook for the year.
Ulta Beauty Inc. (ULTA) reported disappointing second-quarter financial results, missing both earnings and sales estimates. The company also lowered its full-year sales and earnings guidance, citing a decline in comparable store sales. Shares of Ulta Beauty fell sharply in after-hours trading.
