Tag: stock market

Shares of Hologic Inc. fell 6% late Wednesday after the maker of medical devices reported better-than-expected fiscal 2017 fourth-quarter adjusted earnings and sales but called for lower sales for fiscal 2018. Hologic said it earned $83 million, or 29 cents a share, in the quarter, compared with $92 million, or 33 cents a share, in the year-ago period. Adjusted for one-time items, the company earned 50 cents a share, compared with 52 cents a share a year ago. Revenue rose to $803 million, compared with $727 million a year ago. Analysts polled by FactSet had expected adjusted earnings of 49 cents a share on sales of $793 million. The company said it expects revenue between $3.20 billion to $3.28 billion in fiscal 2018, and adjusted per-share earnings between $2.10 and $2.15 for the year. The analysts surveyed by FactSet expect revenue around $3.30 billion for the year, and adjusted EPS of $2.15.

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Shares of ANGI Homeservices Inc. fell in Wednesday’s extended session after the home services website’s quarterly results missed Wall Street’s expectations by a large margin. This is the company’s first financial report following the merger of HomeAdvisor and Angie’s List on Sept. 29. ANGI said it swung to a third-quarter loss of $71.8 million, or 17 cents a share, from a profit of $5.1 million, or a penny a share, a year earlier. On an adjusted basis, it would have lost 2 cents a share. Revenue grew 36% to $181.7 million. Analysts surveyed by FactSet had forecast a profit of 16 cents a share on revenue of $201 million. ANGI shares slumped 3.8% after hours.

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Overstock.com Inc. shares jumped more than 12% late Wednesday after the retailer reported a narrower-than-expected quarterly loss and Chief Executive Patrick M. Byrne said the company continues to explore a “brick-and-click model,” which could include partnering with another company. Overstock.com said it lost $786,000, or 3 cents a share, in the third quarter, compared with a loss of $3.1 million, or 12 cents a share, a year ago. Revenue fell to $424 million, compared with $441.6 million a year ago. Analysts polled by FactSet had expected a loss of 9 cents a share on sales of $453 million. “I have indicated for about 18 months (and loud-and-clear in the last earnings call) that I hear the Gods of Economics whispering that the best model is a brick-and-click model,” Byrne said in a letter to investors. Such “hybridization” could take several forms, including “a strategic partnership formed with the right large partner,” he said.

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Roku Inc. shares shot up 22% in the extended session Wednesday after beating revenue and earnings expectations. Roku shares climbed 22% to $23 after hours. The company reported third-quarter net losses of $46.2 million, or $8.79 a share, compared with losses of $12.7 million or $2.66 a share, in the year-ago period. In the third quarter, $37.7 million of the $46.2 million net loss was related to an increase in the company’s preferred stock warrant liability. Adjusted losses were 10 cents a share. Revenue rose to $124.8 million from $89 million in the year-ago period. Analysts surveyed by FactSet had estimated an adjusted loss of 28 cents a share on revenue of $110.5 million. For the fourth quarter, analysts model a loss of 13 cents a share on revenue of $177.1 million. Executives offered fourth-quarter guidance of net losses of between $8 million and $14 million, on sales of between $175 million to $190 million. Roku stock has dropped 19% in the last month, with the S&P 500 index rising 1.6%. The company went public in September and priced its initial public offering at $14.

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Repealing the Affordable Care Act’s individual health-insurance mandate would leave 4 million more people uninsured in 2019, the Congressional Budget Office said Wednesday. It would also cut deficits by about $338 billion over a decade, versus the $416 billion found by an earlier estimate. In 2027, 13 million more people would be uninsured, the CBO says.

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Twilio Inc. shares gain in Wednesday’s extended session after the cloud-communications company posted in-line quarterly results. Twilio reported its third-quarter loss widened to $23.5 million, or 25 cents a share, from $11.3 million, or 13 cents a share, a year earlier. On an adjusted basis it would have lost 8 cents a share, which is in line with analysts’ average estimate in a FactSet survey. Revenue rose to $100.5 million from $71.5 million. Wall Street had projected $92.5 million. For the current quarter, Twilio expects an adjusted loss per share of 6 cents to 5 cents and revenue in a range of $102.5 million to $104.5 million. Analysts are predicting an adjusted loss per share of 6 cents and revenue of $98.7 million. Twilio shares climbed 3% after hours.

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MGM Resorts International shares fell 0.2% late Wednesday after the company reported third-quarter results above forecasts and a rise in U.S. casino sales but a decline in revenue in China. MGM said it earned $149 million, or 26 cents a share, in the quarter, compared with $536 million, or 93 cents a share, in the prior-year quarter. Revenue rose to $2.83 billion, compared with $2.52 billion a year ago. Analysts polled by FactSet had expected earnings of 7 cents a share on sales of $2.58 billion. U.S. resorts revenue rose 18% quarter-on-quarter; net revenue of MGM China fell 6%, MGM said.

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Roku Inc. shares shot up 22% in the extended session Wednesday after beating revenue and earnings expectations. Roku shares climbed 22% to $23 after hours. The company reported third-quarter net losses of $46.2 million, or $8.79 a share, compared with losses of $12.7 million or $2.66 a share, in the year-ago period. In the third quarter, $37.7 million of the $46.2 million net loss was related to an increase in the company’s preferred stock warrant liability. Adjusted losses were 10 cents a share. Revenue rose to $124.8 million from $89 million in the year-ago period. Analysts surveyed by FactSet had estimated an adjusted loss of 28 cents a share on revenue of $110.5 million. For the fourth quarter, analysts model a loss of 13 cents a share on revenue of $177.1 million. Executives offered fourth-quarter guidance of net losses of between $8 million and $14 million, on sales of between $175 million to $190 million. Roku stock has dropped 19% in the last month, with the S&P 500 index rising 1.6%. The company went public in September and priced its initial public offering at $14.

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Square Inc. posted an earnings beat and raised its outlook for the full year Wednesday afternoon, but shares still slumped more than 2% in immediate after-hours trading. Square reported a third-quarter net loss of $16 million, or 4 cents a share, on revenue of $585.2 million, up from $439 million a year ago. After adjusting for stock-based compensation expenses and other effects, Square claimed earnings of 7 cents a share, up from a penny a share a year ago, on adjusted revenue–which subtracts transaction-based costs–of $257.2 million. Analysts on average expected adjusted earnings of 5 cents a share on adjusted revenue of $245.2 million, according to FactSet. Square had projected third-quarter adjusted earnings of 4 cents to 5 cents a share on adjusted revenue of $238 million to $241 million. Square also raised its full-year outlook, saying that it now expects net revenue of $2.18 billion to $2.19 billion, after previously projecting $2.14 billion to $2.16 billion; adjusted revenue of $963 million to $966 million, after a previous forecast of $925 million to $935 million; and adjusted earnings of 24 cents to 25 cents a share, up from 21 cents to 23 cents a share. Square stock closed at $36.71, but fell lower than $36 in late trading.

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Shares of 21st Century Fox rose 1.5% late Wednesday after the media company reported fiscal first-quarter sales above Wall Street expectations and met adjusted earnings forecasts. Fox said it earned $920 million, or 46 cents, in the quarter, compared with $888 million, or 44 cents, in the year-ago period. Adjusted for one-time items, the company reported earnings of 49 cents a share, compared with 51 cents a share a year ago. Revenues rose to $7 billion, from $6.51 billion a year ago, reflecting revenue growth across all operating segments, the company said. Analysts polled by FactSet had expected adjusted earnings of 49 cents a share on sales of $6.8 billion.

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