After-Market movers: The Trade Desk and Unity Software drop on guidance problems . Oct-9

After-Market:

After-Market

After-Market active stocks

Gainers

• Doximity, Inc. (DOCS) is up 24%; it reported Q2 earnings per share of $0.22, $0.05 higher than the average forecast of $0.17. Revenue for the quarter was $113.6 million, compared to the consensus estimate of $109.05 million. Doximity, Inc. expects revenue of $460-472 million in FY2024, compared to the consensus of $458.7 million.
• Hologic (NASDAQ:HOLX) is up 3% after reporting Q4 earnings per share of $0.89, $0.05 more than the analyst expectation of $0.84. Revenue for the quarter was $945.3 million, compared to the consensus estimate of $940.03 million. Hologic expects Q1 2024 earnings per share of $0.92-$0.97, compared to the consensus of $0.94. Hologic anticipates revenue of $960-985 million in Q1 2024, compared to the consensus of $1017 million. Hologic expects FY2024 earnings per share of $3.90-$4.10, compared to the consensus of $3.90. Hologic expects revenue of $3.92-4.02 billion in FY2024, compared to the consensus of $4.023 billion.

Losers

• The Trade Desk Inc . (NASDAQ:TTD) 30% LOWER;  The Trade Desk Inc. (NASDAQ:TTD) reported Q3 earnings per share of $0.33, $0.04 more than the market expectation of $0.29. Revenue for the quarter was $493 million, compared to the consensus estimate of $486.9 million. The Trade Desk Inc. forecasts Q4 2023 revenue of at least $580 million, compared to the $610.2 million consensus.
• Unity Software Inc. (U) fell 14% after reporting Q3 earnings per share of ($0.32), $0.49 less than the analyst forecast of $0.17. Revenue for the quarter was $544.2 million, compared to the consensus expectation of $554.17 million. The business also stated that it will not provide fourth-quarter or full-year 2023 guidance.
• Iridium Communications Inc. (NASDAQ:IRDM) 9% LOWER;  Qualcomm (NASDAQ:QCOM) has notified Iridium that it has opted to terminate the agreements, effective December 3, 2023.
• Illumina (NASDAQ:ILMN) is down 7%; it posted Q3 earnings per share of $0.33, $0.20 higher than the average expectation of $0.13. Revenue for the quarter was $1.12 billion, compared to the consensus forecast of $1.13 billion. Illumina expects FY2023 earnings per share of $0.60-$0.70, compared to the average of $0.80.
• TKO Group Holdings, Inc. (TKO) 5% LOWER; reported that one of its investors, Mr. Vincent K. McMahon, intends to sell 8,400,000 shares of the Company’s Class A common stock in an underwritten secondary offering.

MARKET MOVERS 

Midday-Market movers

GAINERS

• Affirm (NASDAQ:AFRM) stock jumped more than 19% after the buy-now-pay-later lender reported a shrinking deficit and a big revenue beat in its most recent quarter.
• Walt Disney (NYSE:DIS) stock climbed 7.2% in noon trading after the entertainment conglomerate impressed with its quarterly earnings, thanks in large part to increased subscriber growth at its streaming services as well as improved attendance at its theme parks in Shanghai, Hong Kong, and California.
• Twilio (NYSE:TWLO) shares climbed 2% after the cloud service provider estimated fourth-quarter profit will be higher than expected due to an increase in active customer accounts.
• AstraZeneca (NASDAQ:AZN) ADRs increased 1.5% after the company upped its annual profitability projection, aided by robust demand for its cancer drugs, and announced plans to expand its pipeline in the thriving anti-obesity market.

LOSERS

• The stock of AMC Entertainment (NYSE:AMC) plummeted 15% after the movie theater giant filed for a $350 million stock sale. It exceeded third-quarter revenue expectations, because to the popularity of the “Barbie” and “Oppenheimer” films.
• The stock of Arm Holdings (NASDAQ:ARM) plummeted 6% after the semiconductor company gave a fiscal third-quarter sales guidance that fell short of expectations, citing a significant deal that will likely arrive later than expected.
• Tesla (NASDAQ:TSLA) stock dropped 5.9% after HSBC launched coverage of the EV manufacturer with a’reduce’ recommendation, citing the major worry as delivery time.
• Tapestry (NYSE:TPR) stock dropped 3.9% after the luxury fashion company missed first-quarter sales targets due to a prolonged downturn in demand for its luxury handbags and shoes in the important North American market.
• Lyft (NASDAQ:LYFT) stock slumped 2.7% after the ride-hailing business reported lower-than-expected bookings, adding that it would struggle on the metric in the current quarter.

Earnings Calendar

Thursday, NOV 09

AstraZeneca (AZN), Wynn Resorts (WYNN), News Corp (NWSA), and Li Auto (LI). Options trading implies double-digit share price swings for Groupon (GRPN) and Archer Aviation (ACHR)  Canadian Tire, CI Financial, Rogers Communications, Quebecor, Boralex, Wheaton Precious Metals, IAMGOLD, Saputo, Sleep Country Canada, Sienna Senior Living, Constellation Software, Stantec.

Friday, NOV 10

Soho House (SHCO) StoneCo (STNE), CAE, SNC Lavalin 

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Citigroup (NYSE:C) declined 0.8% after agreeing to sell its retail wealth management portfolio in mainland China to HSBC (NYSE:HSBC), which lost 2.3%.

• Bristol-Myers Squibb (NYSE:BMY) stock dipped 0.8% after the pharmaceutical company announced a $5.8 billion acquisition of cancer medicine Mirati Therapeutics (NASDAQ:MRTX), down 4.6%, to diversify its oncology business.
• United Airlines (NASDAQ:UAL) stock fell 5%, American Airlines (NASDAQ:AAL) stock fell 4.7%, and Delta Air Lines (NYSE:DAL) stock fell 4.5%, as several airlines canceled or reduced flights to Israel in response to the escalation of violence between the country’s forces and the Palestinian group Hamas.
• The stock of Spotify (NYSE:SPOT) slumped 2.5% after Redburn-Atlantic cut its rating on the audio streaming service to ‘neutral’ from ‘buy,’ expecting that the company’s new audiobook offer will be gross margin dilutive.

• Workhorse Group Inc. (Nasdaq: WKHS) 32% HIGHER; Workhorse Group Inc. (Nasdaq: WKHS) announced that it has achieved IRS clearance as a qualified manufacturer for the Commercial Clean Vehicle Credit, as specified in Internal Revenue Code Section 30D(d)(3). With this approval, Workhorse clients can receive up to a $40,000 credit for all Workhorse vehicle deliveries in 2023 and beyond.
• Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) 29% HIGHER; Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) reported that it has reached an agreement with the Food and Drug Administration (FDA) on the global Phase 2 pivotal study of RP-A501 for Danon Disease. Danon Disease is a deadly hereditary cardiomyopathy that kills the majority of male patients at the age of 20 and the majority of female patients at the age of 40, and for which there are no authorized curative or disease-modifying medications. In the United States and Europe, the condition affects an estimated 15,000 to 30,000 people.

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