U.S. equities were on the decline Wednesday, with healthcare stocks leading the way down at 0.6%. The S&P 500 Index lost 0.2% and the Nasdaq Composite slid 0.6%, though the Dow Jones Industrial Average actually scrapped together a 0.2% gain.
The latest batch of companies reporting earnings has delivered. And as a result, Buffalo Wild Wings (NASDAQ:BWLD), Groupon Inc (NASDAQ:GRPN) and Tesla Motors Inc (NASDAQ:TSLA) are on the move.
Here’s what you should be looking out for Thursday:
Groupon Inc (GRPN)
GRPN shares are in for a rough morning despite a third-quarter earnings beat.
The online coupon provider posted a non-GAAP loss of 1 cent per share, which was half the consensus estimate of 2 cents per share. Revenues of $720.5 million also topped expectations by about $10 million. Meanwhile, Groupon also hiked its full-year revenue guidance to a range of $3.075 billion to $3.15 billion.
The bad news was deeper within.
Groupon’s gross billings suffered a year-over-year decline of 2% to $1.43 billion as it restructures its business. Gross profits fell by $14.8 million year-over-year to $314.1 million. Global units sold fell 5% year over year to 49 million due to Groupon deciding to exit its presence in certain countries. However, the company still added 1.2 million customers in North America.
GRPN also said it will buy LivingSocial in a deal that is slated to be completed in November. LivingSocial said last month that it was laying half of its 400 employees — it once employed up to 4,000 workers.
GRPN shares were sinking 8% in early Thursday trade.
Buffalo Wild Wings (BWLD)
BWLD was faring much better after reporting mixed results.
The restaurant stock earned $1.23 per share in its most recent period, topping Wall Streets estimates by a penny. Revenues came up a bit shy, though, with sales of $494 million off by $6 million. That came on slightly encouraging same-store sales, which dipped 1.6% — 10 basis points better than the consensus estimate.
For its fiscal full year, Buffalo Wild Wings expects to earn between $5.65 to $5.85 per share, putting the midpoint above estimates of $5.70 per share.
As 2017 approaches, CEO Sally Smith says the company is looking to add a different and improved casual dining experience that will help the company improve margins. A new menu is slated to be released next week.
The company also hired Alexander Ware to join as the new CFO, focusing on the company’s financial planning, accounting, tax, treasury and investor relations. He will begin his post on Oct. 31.
BWLD shares were up 5% in early trade.
Tesla Motors Inc (TSLA)
Tesla stock was booming this morning after the company delivered a much-sought-after profit for its third quarter.
The electric car maker previously announced it delivered 24,831 of its Model S sedans and Model X SUVs, which also was more than double its year-ago figure.
That resulted in revenue for the period of $2.3 billion, more than double than the $936.8 million posted a year ago. Better still, earnings came to 71 cents per share on an adjusted basis, which clobbered the expected loss of 54 cents per share. And even better, the company posted real net income of $21.9 million for the quarter. Prior to this, Tesla had suffered 12 straight quarterly losses.
For the current calendar year, Elon Musk & Co. predict that the company will sell at least 100,000 vehicles, which would double last year’s total. By 2018, this expectation climbs to 500,000 cars annually.
TSLA stock was up 5% in response.
