The S&P 500 and Nasdaq started the week In the red after the revenue loss from Nvidia affected the broader market. The S&P 500 closed 0.12% lower at 4140.06 while the Nasdaq fell to 12,644.46.
Here are four Common Indications On Yahoo Finance:
Novafax (NVAX): The vaccine maker cut its full-year revenue forecast and missed its second-quarter estimate, sending shares down more than 30% in after-hours trading. Novavax now forecasts full-year revenue between $2 billion to $2.3 billion, down from its previous outlook of $4 billion to $5 billion. In the second quarter, Novavax reported a loss per share of $6.53 on revenue of $185.93 million, down from $298 million a year ago.
Interactive Take-Two (TTWO): Shares of the video game maker fell hours after its annual earnings forecast did not beat estimates. Take-Two expects adjusted earnings per share for fiscal year 2023 between $4.60 and $4.85, below Street’s estimate of $5.37. Revenue jumped 36% from a year ago to $1.1 billion while net bookings were $1 billion, compared to $711.4 million in the same period last year. The company also completed its merger with Zynga on May 23, 2022 and includes Zynga’s 39-day results for the quarter. Despite the missing guidance, Take-Two CEO Strauss Zelnick remained upbeat, writing in the earnings report that “our pipeline for the year continues to look very strong, and we’re excited to significantly expand our mobile presence with a platform that is the best.” in his category.”
Allbirds (bird): Retail sales guidance for the third quarter and fiscal year 22 were below analyst expectations. Allbirds now expects revenue of between $65 million and $70 million for the third quarter and $305 million to $315 million for the full year. In the second quarter, Allbirds reported revenue of $78.2 million, a 15% increase over last year and a 55% increase over 2020. U.S. physical retail channel sales grew approximately 120% compared to 2021. Allbirds Founder and Co-CEO Joey Zwillinger wrote in the earnings statement, “Our drive to performance is paying off by increasing performance footwear to 24% of our net revenue this quarter, and we see room for more growth going forward.”
frome (VRM): Shares tumbled after Vroom posted a loss of 73 cents per share on sales of $475.4 million, below street expectations of $544 million. Gross profit per unit of e-commerce of $3,629 is up 106%, while SG&A expenses are down $35 million. Tom Short, CEO of Vroom, commented, “We reported record total e-commerce earnings per unit and improved adjusted EBITDA from the previous quarter. We also began expanding the loans UACC created for Vroom, which Contribute to our improvement in gross profit per unit.” Vroom shares are down 77% since the beginning of the year.
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