Wednesday was a down day for the stock market thanks to a swoon in energy stocks, which endured a sector-wise decline of 1.4%. The total damage to the S&P 500 was 0.2%, the Dow Jones Industrial Average lost 0.3% and the Nasdaq Composite was 0.2% lower by day’s end.
As earnings season winds down, a few companies are moving following their most recent reports. A couple stocks you should keep on your radar this morning include Five Below Inc (NASDAQ:FIVE) and Salesforce.com, Inc. (NYSE:CRM). Meanwhile, Wynn Resorts, Limited (NASDAQ:WYNN) is getting a lift out of Macau.
Here’s what you need to know:
Salesforce.com, Inc. (CRM)
Salesforce stock dipped yesterday after the company posted disappointing guidance.
Earnings are predicted to come in the range of 93 cents to 95 cents per share for the cloud computing solutions provider. However, analysts expect Salesforce’s full-year results to be about 96 cents per share. Revenue guidance of $8.275 billion to $8.325 billion also only barely covered Wall Street’s expectations for about $8.3 billion.
CRM did post a beat in its second quarter, earnings 24 cents per share versus a consensus estimate of 22 cents. Revenues of $2.04 billion barely skated by expectations.
Salesforce is down 6.6% in Thursday’s premarket action. Check out our extended analysis of Salesforce’s earnings.
Wynn Resorts, Limited (WYNN)
WYNN shares were up strongly on Thursday thanks to some good news from Macau.
Gross gaming revenues in Macau grew 1.1% in August to reach $2.4 billion — the first time that metric has grown in nearly two years — according to a Barron’s report.
The report quoted Union Gaming’s Grant Govertsen:
“Leading up to the end of the month, we believe GGR was trending slightly down based on our on-the-ground observations. Obviously that changed during the final days of the month resulting in a positive finish. Clearly theopening of Wynn Palace had at least some positive impact on the high-end of the market, likely causing players to return and trial the property. This is consistent with what we’ve been hearing from our junket contacts.”
Govertsen also noted other anecdotal signs of strength, such as busier floors and more difficulty in hailing cabs.
WYNN shares were up 5% in Thursday’s premarket trade, joined by Las Vegas Sands Corp. (NYSE:LVS), which was up about 3%.
Five Below Inc (FIVE)
Teen retailer Five Below posted its fiscal second-quarter report Wednesday, and Wall Street was less than impressed.
FIVE did beat on the top and bottom lines. Second-quarter revenues of $220.1 million were up 21% year-over-year and topped analyst expectations by $1.3 million. Comps were up 3.1% for Q2. Meanwhile, earnings of 15 cents per share were up 38% and beat consensus estimates by a penny.
No, today’s weakness in FIVE stock will come thanks to the company’s guidance.
Five Below sees Q3 sales of $199 million to $202 million, filtering down to EPS of 9 to 10 cents per share. Neither midpoint satisfied Wall Street’s marks of $203.89 million and 10 cents per share.
FIVE shares were off … well, 5% this morning.
