Dick’s Sporting Goods saw a significant 14% increase in shares following the release of fourth-quarter results that surpassed expectations. With earnings per share of $3.85 and revenue of $3.88 billion, the sporting goods retailer outperformed analyst predictions of $3.35 per share on revenue of $3.80 billion.
Lennar Faces Decline Due to Revenue Miss
On the contrary, homebuilder Lennar experienced a 5.3% decrease in shares after reporting a revenue miss in its first quarter. The revenue of $7.31 billion fell short of the expected $7.39 billion, leading to a negative impact on the company’s stock performance.
Dollar General witnessed a 1.8% increase in shares as it surpassed expectations with its fourth-quarter results. With earnings of $1.83 per share and revenue of $9.86 billion, the discount retailer outperformed analyst predictions of $1.75 per share and $9.78 billion in revenue.
Despite posting stronger than expected quarterly results, cybersecurity provider SentinelOne saw a decline of over 15% in shares. The company reported an adjusted loss of 2 cents per share on revenue of $174 million, beating analyst expectations of a loss of 4 cents per share and revenue of $170 million.
Fintech stock Robinhood Markets experienced a 7% surge in shares after reporting a 41% rise in equity trading volumes in February compared to the previous year. This positive performance contributed to the company’s growth in the midday trading session.
RTX Receives Upgrade from Wells Fargo
RTX shares rose by 1.9% following an overweight rating upgrade from Wells Fargo. The bank’s optimistic outlook was driven by the fading impact of headwinds caused by a previous jet engine recall, indicating a positive trajectory for the company.
Under Armour Faces Challenges with Leadership Change
Sportswear company Under Armour encountered a 12.8% drop in shares after announcing the return of founder Kevin Plank as CEO. This decision raised concerns about the company’s strategic direction and performance, leading to a downgrade in stock rating by Evercore ISI.
MicroStrategy’s Investment in Bitcoin
Software developer MicroStrategy witnessed a 1.6% increase in shares after announcing a $500 million investment in bitcoin. This move, coupled with a previous 11% rise, reflects the company’s ongoing focus on cryptocurrency as a strategic investment opportunity.
Weight loss company WW International saw a significant decline of nearly 27% in shares after reports emerged that lenders had hired lawyers to prepare for debt talks. The departure of Oprah Winfrey from the board further contributed to the stock’s downfall.
Fisker’s Downturn Amidst Restructuring Talks
Electric vehicle developer Fisker experienced a 50% decrease in shares following reports of hiring restructuring advisors for a potential bankruptcy filing. This negative development raises concerns about the company’s financial stability and future outlook.
Enterprise automation company UiPath witnessed a 7.4% decline in shares after posting revenue guidance lower than expected for the first quarter. While the company exceeded consensus estimates on top and bottom lines, the weaker revenue forecast impacted investor sentiment.
U.S. Steel encountered a 1.3% decrease in shares amid worries over the proposed acquisition by Japanese company Nippon Steel. President Joe Biden’s expressed concerns further fueled uncertainty around the potential deal, leading to negative investor sentiment towards the company.