Tag: stock market

Trade Desk Inc. shares shot up in the extended session Thursday after better-than-expected 2018 guidance and adjusted earnings beat analyst models. Trade Desk shares rose 12.6% after hours. The company reported fourth-quarter net income of $16.8 million, or 38 cents a share, compared with $10.3 million, or 24 cents a share, in the year-ago period. Adjusted earnings were 55 cents a share. Revenue rose to $102.6 million from $72.4 million in the year-ago period. Analysts surveyed by FactSet had estimated adjusted earnings of 44 cents a share on revenue of $101.7 million. For the first quarter, analysts model adjusted earnings of 10 cents a share on sales of $64.4 million. The company said it expected first-quarter sales of $73 million and full-year sales of “at least” $403 million; analysts modeled full-year sales of $391.3 million. Trade Desk stock has gained 41% in the past year, with the S&P 500 index rising 14%.

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Universal Display Corp. shares took a nose dive in the extended session Thursday after the company missed Wall Street’s earnings expectations. The display maker’s shares fell more than 10% after hours. The company reported fourth-quarter net income of $32.8 million, or 69 cents a share, compared with $25.8 million, or 55 cents a share, in the year-ago period. Adjusted earnings were 93 cents a share. Revenue grew to $115.9 million from $74.6 million in the year-ago period. Analysts surveyed by FactSet had estimated earnings of 85 cents a share on revenue of $100 million. Universal Display also raised its quarterly dividend to 6 cents a share from 3 cents a share. For the first quarter, analysts model earnings of 29 cents a share on sales of $64.8 million. The company said it expects full-year 2018 revenue of $350 million to $380 million; analysts had expected $398.2 million. Universal Display stock has gained 117% in the past year, with the S&P 500 index rising 14%.

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Xcerra Corp. called off its acquisition by a Chinese entity Thursday afternoon, the latest attempt at a Chinese purchase of a U.S. chip company to be scuttled amid resistance from the U.S. federal government. Xcerra said it and Hubei Xinyan Equity Investment Partnership had mutually agreed to call off the merger after deciding it would not be cleared by the Committee on Foreign Investment in the United States, or CFIUS. “Our transaction with Xinyan was about enabling Xcerra to accelerate its growth in the China market as well as broadening and strengthening our customer relationships around the world,” Xcerra Chief Executive Dave Tacelli said in Thursday’s announcement. “While we are disappointed that we were not able to receive approval from CFIUS on this transaction, Xcerra and Xinyan are discussing alternatives to pursue opportunities in new and existing markets in China.” Xcerra, which makes equipment used in testing chips during the manufacturing process, is just the latest small chip company to try and fail to be acquired by a Chinese company amid the nation’s thirst for chip knowledge and intellectual property. A deal for Lattice Semiconductor Corp. was scuttled by the CFIUS under President Donald Trump, which seemed to signal that such deals would not get approval; Xcerra’s failure to complete a deal could show that even companies that don’t actually make chips will have trouble obtaining approval. Xinyan had agreed last April to purchase the company for $10.25 a share, and the stock closed at $9.70 Thursday. Xcerra shares were halted in late trading Thursday before the announcement, and fell about 5% once after-hours trading resumed.

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Shares of Redfin Corp. stumbled more than 7% late Thursday after the online real-estate company reported a narrower-than-expected quarterly loss but guided for less revenue in the first quarter. Redfin said it lost $1.8 million, or 2 cents a share, in the fourth quarter, compared with a loss of $5.3 million, or $8.08 a share, in the fourth quarter of 2016. Revenue rose 43% to $95.8 million, compared with $66.8 million a year ago. Analysts polled by FactSet had expected a loss of 5 cents a share on sales of $92 million. The company said it expects revenue between $74.6 million and $78.4 million in the first quarter and a net loss between $38.7 million and $35.9 million. The analysts surveyed by FactSet expect revenue of $80 million in the first quarter.

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Special Counsel Robert Mueller announced a 32-count indictment against Paul Manafort, the Trump campaign’s former manager, and Rick Gates, who also was on the Trump campaign. The new charges include a failure to file reports of foreign bank accounts and bank fraud. Manafort and Gates allegedly engaged in a scheme to hide income they received from representing the government of Ukraine and from representing Victor Yanukovych after he fled to Russia.

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Wingstop Inc. shares dropped in the extended session Thursday after the chicken-wing franchise’s outlook fell short of Wall Street estimates. Wingstop shares fell 9% after hours. For the year, Wingstop estimates earnings of 75 cents a share, while analysts surveyed by FactSet expect earnings of 83 cents a share. The company reported fourth-quarter net income of $10.5 million, or 36 cents a share, compared with $4.3 million, or 15 cents a share, in the year-ago period. Adjusted earnings were 17 cents a share. Revenue rose to $28.3 million from $24.6 million in the year-ago period. Analysts had estimated 16 cents a share on revenue of $27.5 million.

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Planet Fitness Inc. shares shot up in the extended session Thursday after beating earnings and revenue expectations. Planet Fitness stock rose nearly 8% after hours. The company reported fourth-quarter net losses of $3.5 million, or 4 cents a share, compared with net income of $10 million, or 18 cents a share, in the year-ago period. The company logged a tax charge of $17.2 million due to changes in the U.S. tax code. Adjusted earnings were 24 cents a share. Revenue rose to $134 million from $116.4 million in the year-ago period. Analysts surveyed by FactSet had estimated adjusted earnings of 23 cents a share on revenue of $131.1 million. For the first quarter, analysts model adjusted earnings of 26 cents a share on sales of $109.3 million. The company said it expects full-year sales to increase by about 20% and adjusted earnings to grow by about 40%. Planet Fitness stock has gained 54.89% in the past year, with the S&P 500 index rising 14%.

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Shares of First Solar Inc. fell 2% late Thursday after the solar-panel maker and developer reported a narrower-than-expected adjusted per-share loss in the fourth quarter but missed quarterly sales expectations. First Solar said it lost $432 million, or $4.14 a share, in the quarter, compared with a loss of $751 million, or $7.22 a share, in the year-ago period. Adjusted for one-time items, First Solar lost 25 cents a share in the quarter, versus earnings of $1.24 a share a year ago. Revenue rose $339 million, compared with $331 million a year ago, “slightly lower than guidance as a result of certain foreign project sales that are now expected to be recognized in 2018,” the company said in a statement. Analysts polled by FactSet had expected an adjusted loss of 30 cents a share on sales of $436 million.

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Oil futures settled higher Thursday, jumping after an unexpected fall in U.S. crude inventories. West Texas Intermediate crude for April delivery on the New York Mercantile Exchange rose $1.09, or 1.8%, to settle at $62.77 a barrel. Oil turned higher after the Energy Information Administration said crude stocks fell by more than 1.6 million barrels last week, compared with expectations for a rise in inventories.

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Makeup, skincare and fragrance company Glossier has raised $52 million that it says will be used to invest in its customer experience. This brings the company’s total funding to $86 million. This latest round of funding was led by IVP and Index Ventures, existing investors. Glossier launched in 2014 and currently ships in the U.S., U.K. and Canada. Based in New York, the company also has offices in London and Montreal, after acquiring a Canadian tech agency, Dynamo. The SPDR S&P Retail ETF is up 8.6% for the last three months, outpacing the S&P 500 index , which is up 4.5% for the period.

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