After-Market: RH dips after the results, while DocuSign rises. Sep-7

After-Market:

After-Market

After-Market active stocks

Gainers

• Smith & Wesson Brands Inc (NASDAQ:SWBI) 9% HIGHER; posted Q1 EPS of $0.13, $0.01 greater than the analyst expectation of $0.12. Revenue for the quarter came in at $114.2 million versus the consensus expectation of $104.12M.
• Smartsheet (NYSE:SMAR) 6% HIGHER; posted Q2 EPS of $0.16, $0.08 greater than the analyst expectation of $0.08. Revenue for the quarter came in at $235.6M versus the consensus expectation of $229.57M. Smartsheet forecasts Q3 2024 EPS of $0.08-$0.09, versus the consensus of $0.07. Smartsheet forecasts Q3 2024 revenue of $240-242M, versus the consensus of $241.24M. Smartsheet predicts FY2024 EPS of $0.53-$0.57, versus the consensus of $0.42. Smartsheet forecasts FY2024 sales of $950-953M, versus the consensus of $948.8M.
• DocuSign Inc (NASDAQ:DOCU) 4% HIGHER; posted Q2 EPS of $0.72, $0.06 greater than the analyst expectation of $0.66. Revenue for the quarter came in at $687.7M versus the consensus expectation of $677.56M. DocuSign’s board of directors has authorized an increase of $300M to its current stock repurchase program for a total aggregate sum of up to $500M of DocuSign’s outstanding common stock. DocuSign Inc. forecasts Q3 2024 revenue of $687-691M, below the consensus of $686.03M. DocuSign Inc. forecasts FY2024 sales of $2.725-2.737B, versus the consensus of $2.72B.
• Guidewire Software (NYSE:GWRE) 1% HIGHER; posted Q4 EPS of $0.74, $0.36 greater than the analyst expectation of $0.38. Revenue for the quarter came in at $270M versus the consensus expectation of $261.38M. Guidewire Software forecasts Q1 2024 revenue of $197-202M, below the consensus of $212.51M. Guidewire Software forecasts FY2024 revenue of $976-986M, versus the consensus of $988.72M.

Losers

• RH (NYSE:RH) 8% LOWER; posted Q2 EPS of $3.93, $1.37 more than the average forecast of $2.56. Revenue for the quarter came in at $800M versus the consensus forecast of $777.8M. RH forecasts Q3 2024 revenue of $740-760M, below the consensus of $772.87M. RH forecasts Q4 2024 revenue of revenues of $760 to $800M. RH raises the bottom of range and forecasts FY2024 revenue of $3.04-3.1 billion, versus the consensus of $3.07B.
• Hudson Pacific Properties, Inc. (NYSE:HPP) 8% LOWER; said that its Board of Directors stopped the Company’s quarterly dividend on its common shares, effective with the third quarter dividend that would have been paid in September 2023.
• Zumiez, Inc. (NASDAQ:ZUMZ) 6% LOWER; posted Q2 EPS of ($0.44), $0.23 better than the average estimate of ($0.67). Revenue for the quarter came in at $194.4M versus the consensus estimate of $190.15M. Zumiez, Inc. anticipates Q3 2024 EPS of ($0.15)-($0.25), versus the average of $0.21. Zumiez, Inc. forecasts Q3 2024 revenue of $211-216M, versus the consensus of $217.83M.

MARKET MOVERS 

Midday-Market movers

GAINERS

McDonald’s (NYSE:MCD) stock rose 0.9%; Wells Fargo raised McDonald’s (NYSE:MCD) shares to ‘overweight’ from ‘equal weight,’ saying the company is “firing on all cylinders.”

LOSERS

• The shares of ChargePoint (NYSE:CHPT) fell more than 13% after the owner of EV charging stations missed revenue estimates in its quarterly results release.
• C3.ai (NYSE:AI) stock tumbled 11% after the artificial intelligence start-up indicated its route to profitability will be delayed, raising concerns about the company’s ability to capitalize on a boom in interest in AI.
• Apple (NASDAQ:AAPL) stock slumped 3.3% following a WSJ story that China is widening its iPhone ban to include state-owned enterprises and government agencies, potentially affecting future demand in this vital market.
• Dell Technologies (NYSE:DELL) stock dropped 2% after Barclays downgraded the tech business to ‘underweight’ from ‘equal weight,’ claiming that its AI presence will not be adequate to ward off macroeconomic problems.
• Crocs (NASDAQ:CROX) stock dipped 0.8% after B. Riley downgraded the popular shoe retailer from ‘buy’ to ‘neutral,’ citing concerns over surplus footwear inventory in shops.GameStop (NYSE:GME) stock declined 0.6% after the embattled video game retailer beat revenue projections and recorded a smaller-than-expected loss.

Earnings Calendar

Friday, Sep 08 

• Kroger Company (KR)

for Details

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