Macy’s reported better-than-expected third-quarter sales of $4.74 billion, but overall sales decreased and the company is grappling with the fallout from a $151 million accounting error. Despite this, Macy’s projects slightly improved 2024 sales guidance, though EPS expectations have been lowered.
Natera, Inc. (NTRA) reported better-than-expected third-quarter financial results, exceeding both earnings and revenue estimates. The company’s strong performance also led to an upward revision of FY24 revenue guidance, boosting investor confidence and sending shares soaring. Several analysts responded to the positive news by raising their price targets for the stock, highlighting the market’s optimism about Natera’s future.
Alight, Inc. (ALIT) exceeded analysts’ expectations for third-quarter sales and earnings, fueled by strong demand for employee benefits and wellbeing services. The company also announced a new quarterly dividend program and provided upbeat guidance for the fourth quarter. This positive performance has caught the attention of analysts, with several raising their price targets on the stock.
ZoomInfo Technologies Inc. (ZI) exceeded analysts’ expectations for its third quarter, reporting revenue of $303.6 million and adjusted earnings per share (EPS) of 28 cents. Despite the positive earnings, ZoomInfo shares fell over 16% on Wednesday. This decline comes despite the company’s optimistic outlook for the fourth quarter and fiscal year 2024.
CAVA Group Inc., the fast-casual Mediterranean restaurant chain, saw its stock price surge by 17.18% in pre-market trading on Wednesday after reporting robust third-quarter earnings and raising its annual outlook. The company exceeded both earnings and revenue expectations, demonstrating strong growth in both restaurant count and same-store sales. This impressive performance highlights CAVA’s strong position in the competitive fast-casual market.
Shares of Nature’s Miracle Holding Inc. (NMHI) have plummeted by nearly 30% following the announcement of a $3 million public offering. The offering details include unit pricing, warrant structures, and a closing date of November 12. This news comes as NMHI experiences significant volatility, having reached a 52-week high of $3.04 and a 52-week low of $0.08.
Motorola Solutions (MSI) exceeded analysts’ expectations for both earnings and revenue in the third quarter, leading to a surge in stock price and raised guidance for the full year. The company’s strong performance across all segments fueled the positive results, prompting analysts to increase their price targets on the stock.
Moderna’s stock price fell despite reporting higher-than-expected third-quarter revenue. Analysts attributed the decline to concerns about slowing vaccine demand, uncertainty around its respiratory vaccine pipeline, and potential write-downs in the fourth quarter. While some remain optimistic about the company’s long-term potential, the overall outlook for Moderna appears cautious.
Fluor Corporation (FLR) saw its shares tumble by over 16% after its third-quarter earnings fell short of analysts’ expectations. Revenue growth missed estimates, and adjusted earnings per share declined significantly year-over-year. Despite a surge in backlog, the company’s adjusted EBITDA and margins also contracted. However, Fluor announced plans to expand its share repurchase program and expects a significant gain from deconsolidating NuScale. The company also tightened its 2024 outlook.
The GEO Group, Inc. (GEO) saw its shares jump by over 9% after reporting third-quarter earnings that missed analysts’ expectations. Revenue came in below estimates due to a decline in participants in the federal Intensive Supervision Appearance Program (ISAP). While adjusted EBITDA remained relatively stable, the company revised its full-year guidance downward, leading to a mixed investor reaction.
