Several companies saw notable stock moves following quarterly earnings reports, guidance updates, and investor reactions. Luxury brands, technology companies, restaurants, and consumer businesses were among the biggest movers.
Consumer and Retail Stocks
Tapestry — Shares of the parent company of Kate Spade and Coach fell 7% after fiscal fourth-quarter results disappointed investors. Tapestry reported earnings of $1.32 per share on revenue of $1.88 billion. While earnings exceeded the FactSet estimate of $1.28 per share, revenue was only slightly above expectations of $1.87 billion. The company also raised its quarterly dividend to 46.25 cents per share from 40 cents.
Yeti — Shares slipped nearly 4% after mixed second-quarter results. The drinkware and cooler maker reported adjusted earnings of 67 cents per share, above the FactSet estimate of 54 cents. Revenue totaled $483.9 million, slightly exceeding expectations of $483.8 million.
Birkenstock — Shares jumped 10% after the footwear company reported quarterly revenue and adjusted EBITDA above expectations. The company also said it expects full-year revenue and adjusted EBITDA to reach the high end of its previous guidance.
JD.com — U.S.-listed shares of the Chinese e-commerce company declined about 4% despite exceeding earnings expectations. Adjusted earnings came in at 6.29 yuan per share compared with the FactSet estimate of 5.61 yuan. Revenue declined year over year to 346.4 billion yuan but surpassed analyst expectations of 342.33 billion yuan.
Grocery Outlet — Shares gained 9% after the grocery retailer reported second-quarter earnings of 20 cents per share, beating analyst expectations of 13 cents. Revenue came in at $1.19 billion, above the $1.17 billion consensus estimate.
Technology and AI Stocks
Bullish — Shares rose 1% after the company reported second-quarter revenue of $92.6 million, exceeding the $87.4 million analyst estimate. Bullish also raised its full-year guidance for subscription, services, and other revenue.
Coherent — Shares fell 5% in extended trading after fourth-quarter adjusted gross margin came in roughly in line with expectations. Non-GAAP gross margin was 40.2%, compared with the StreetAccount estimate of 40%. The company’s first-quarter earnings and revenue guidance exceeded analyst expectations.
Cerebras Systems — Shares dropped nearly 18% after the artificial intelligence chip maker reported second-quarter revenue of $180 million, below the LSEG estimate of $194 million.
Cisco Systems — Shares declined 6% after fourth-quarter adjusted gross margin only slightly exceeded expectations. Gross margin came in at 66.3%, compared with the StreetAccount consensus estimate of 66%.
Financial and Industrial Stocks
EnerSys — Shares jumped 13% after the battery manufacturer reported stronger-than-expected quarterly results. Adjusted earnings reached $3.66 per share, above the FactSet estimate of $2.83. Revenue totaled $935.6 million compared with expectations of $928 million, while second-quarter earnings guidance also exceeded estimates.
Restaurant Stocks
Jack in the Box — Shares gained more than 6% after the fast-food chain reported fiscal third-quarter earnings of 96 cents per share, above analyst expectations of 88 cents.
Red Robin Gourmet Burgers — Shares increased nearly 4% after the restaurant chain exceeded analyst expectations. Red Robin reported adjusted earnings of 12 cents per share on revenue of $277.6 million, compared with estimates calling for break-even results and revenue of $265.8 million.
Other Market Movers
National Vision — Shares declined after the optical retailer issued full-year guidance that failed to impress investors. The company expects adjusted earnings of 94 cents to $1.09 per share on revenue of $2.037 billion to $2.076 billion.
StubHub — Shares fell almost 17% after second-quarter adjusted gross margin came in at 82.2%, below the StreetAccount expectation of 84.3%. The company maintained its full-year adjusted EBITDA outlook.
