Things were looking up for U.S. markets yesterday, as tech stocks led the charge with a 0.4% gain. The S&P 500 fell slightly over the course of the day, while the Dow Jones Industrial Average surged 0.1% and the Nasdaq Composite rose 0.3%.
Lululemon Athletica inc. (NASDAQ:LULU), Smith & Wesson Holding Corp (NASDAQ:SWHC) and VeriFone Systems Inc (NYSE:PAY) made up part of the list of companies that released their most recent financial results Thursday afternoon.
Here’s how they did:
VeriFone Systems Inc (PAY)
PAY stock is in for a disappointing day due to a lowered outlook for the current quarter.
Verifone is projecting earnings in a range of 28 to 29 cents, which is dreadfully under Wall Street’s target amount of 50 cents per share. Revenues also are expected to be weaker at $460 million, off $74 million.
For its previous quarter, the electronic payments solutions provider lost 28 cents per share, and 42 cents on an adjusted basis. That latter figure did beat estimates by 2 cents per share.
VeriFone is increasingly trying to shift toward being a payment- and commerce-services company, shedding its previous role as a payment terminals provider.
PAY shares were off 16% in Friday’s premarket trade.
Smith & Wesson Holding Corp (SWHC)
SWHC was responding timidly to the company’s fiscal first-quarter report, released Thursday evening.
The company earned 62 cents per share to leap past estimates of 8 cents. Meanwhile, the weapons retailer netted $207 million in revenue, easily getting over a bar of $198.16 million.
Second-quarter guidance was encouraging, too. Wall Street was looking for revenues of $165.4 million and earnings of 35 cents per share. Smith & Wesson projected between $220 million and $230 million in sales, filtering down to earnings of 53 to 57 cents per share.
SWHC was wavering between slight gains and losses Friday morning. Still, overall, things are looking up.
Lululemon Athletica Inc. (LULU)
Luluemon shares were heading sharply lower on Friday morning after the company reported revenues that missed Wall Street’s views.
The “athleisure” retailer said net sales for its second quarter came to $514.5 million, just shy of the consensus estimate for $516 million, but up 14% year-over-year. Earnings, however, grew 5 cents per share to 39 cents, managing to edge out analyst expectations by a penny. Comps were 4% better, 5% on a constant-dollar basis.
Full-year earnings are slated to be in the range of $2.07 to $2.15 per share, while analysts predict this figure will be $2.15 per share.
LULU stock was off 8% on Thursday morning, which InvestorPlace’s Will Ashworth says is a buying opportunity only an idiot would pass up.
As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.
