Stocks saw a mixed day of trading on Thursday, with several companies reporting earnings that significantly impacted their share prices.
CarMax (NYSE: KMX ), the largest automotive retailer in the United States, saw its shares fall by 9.8% after reporting a sharp year-on-year decline in fiscal second-quarter revenue. The company reported revenue of $7.07 billion for Q2 FY2024, down 13.1% from the same quarter last year, slightly beating analyst estimates of $7.03 billion. However, its earnings per share (EPS) fell short of expectations at $0.75, a 3.3% miss against analysts' predictions. The company's same-store sales also fell by 12.5% year on year.
In contrast, Jabil Inc. (JBL) saw its shares rise by 11% after the contract electronics manufacturer reported better-than-expected fourth quarter adjusted earnings and issued first quarter core earnings guidance above estimates. The company's board also increased the current share repurchase authorization to $2.5 billion.
Chico’s Fas (CHS) experienced a dramatic increase in its stock price, soaring 62% to $7.47 after announcing it was being acquired by Sycamore Partners for $1 billion and would be taken private.
Workday Inc . (NASDAQ: WDAY ) shares declined by 8.2% after the cloud software company lowered its target for annual subscription revenue growth to a rate of between 17% and 19% over the next three years from 20%-plus during an investor presentation.
Shares of Accenture (NYSE: ACN ) dropped by 4.8% after the management consulting and tech company reported fourth-quarter revenue that missed Wall Street estimates and provided earnings guidance below consensus.
Micron Technology (NASDAQ: MU ) reported a narrower-than-expected fiscal fourth-quarter adjusted loss, but the chipmaker's revenue of $4.01 billion fell sharply from $6.64 billion a year earlier, leading to a 4.4% decline in its stock.
DigitalBridge Group (DBRG) saw its shares rise by 3.5% after J.P. Morgan upgraded the technology company to Overweight from Neutral.
Peloton Interactive (NASDAQ: PTON ) gained 2.8% after signing a five-year deal with Lululemon Athletica (NASDAQ: LULU ), making Peloton Lululemon’s exclusive provider of digital fitness content and Lululemon Peloton’s primary apparel partner.
Redfin (NASDAQ: RDFN ) rose 2% to $7.12 after DA Davidson upgraded shares of the online real estate marketplace to Neutral from Underperform, albeit with a trimmed price target of $8 from $8.50.
GameStop (NYSE: GME ) saw a modest increase of 1.1% after the videogame retailer named Ryan Cohen as president and chief executive, effective immediately.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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