Abercrombie & Fitch (ANF) – The apparel retailer lost $3.29 per share for its latest quarter, wider than the loss of $1.39 per share anticipated by analysts. Revenue was also below forecasts, with sales impacted by pandemic-related closures.
Dollar General (DG) – The discount retailer reported quarterly profit of $2.56 per share, compared to a consensus estimate of $1.74 a share. Revenue exceeded forecasts as well, and a same-store sales jump of 21.7% was well above the 8.7% FactSet estimate. Dollar General said the pandemic had a significant positive impact on sales, and that it expects to exceed prior forecasts.
Dollar Tree (DLTR) – Dollar Tree earned $1.04 per share for its latest quarter, beating the 85 cents a share consensus estimate. Revenue also beat forecasts, with the discount retailer’s overall same-store sales rising 7% compared to a 4.4% consensus estimate. Dollar Tree-branded stores did see a 0.9% drop in comparable sales, compared to estimates of a 1.2% increase, but Family Dollar saw a 15.5% rise compared to the consensus estimate of 8.1%. Like rival Dollar General, Dollar Tree benefited from the change in consumer behavior spurred by the pandemic.
Burlington Stores (BURL) – The apparel retailer lost $4.76 per share for its latest quarter, wider than the loss of $1.55 a share anticipated by analysts. Revenue was well below estimates, and Burlington said it was not prepared to give 2020 guidance. Stores were closed on March 22 due to the pandemic and remained closed through the end of the quarter. Some 332 stores have reopened since then, and the remainder are expected to open by the middle of June.
Amazon.com (AMZN) – Amazon said it would offer permanent jobs to about 70% of the U.S. workers hired to cope with the increased demand generated by the Covid-19 pandemic.
Twitter (TWTR), Facebook (FB) – Twitter and Facebook are in the crosshairs of the Trump administration, with President Donald Trump set to issue an executive order targeting social media companies after Twitter began to fact-check tweet’s include those from Trump.
American Airlines (AAL) – The airline is planning to cut management and support staff by about 30%, according to a letter to employees. The airline will first offer voluntary options, then move on to involuntary reductions.
Hertz (HTZ) – Investor Carl Icahn exited his entire position in Hertz, according to an SEC filing. That comes a few days after the car rental company filed for Chapter 11 bankruptcy, a decision Icahn said he supports despite taking a “significant loss” on his position. Icahn had been Hertz’s largest shareholder.
Boeing (BA) – Boeing has restarted production of its grounded 737 Max jet. The news came shortly after Boeing announced it was cutting more than 12,300 U.S. jobs.
Box (BOX) – Box reported quarterly earnings of 10 cents per share, doubling forecasts, while the cloud computing company’s revenue also beat estimates. Box also gave an upbeat revenue forecast as it benefits from an increasing number of employees working from home.
Toll Brothers (TOL) – Toll Brothers earned 59 cents per share for its latest quarter, 14 cents a share above estimates. The luxury home builder’s revenue also above forecasts. The company scrapped its 2020 forecast due to uncertainty related to the coronavirus outbreak.
HP Inc. (HPQ) – HP Inc. beat estimates by 7 cents a share, with quarterly profit of 51 cents per share. The computer and printer maker’s revenue fell short of Wall Street projections. Laptop computer sales grew, but printing and desktop sales plunged.
Workday (WDAY) – Workday fell 4 cents a share short of estimates, with quarterly earnings of 44 cents per share. The maker of financial management and human resources software’s revenue came in slightly above forecasts. The bottom line was impacted by product development expenses and sales and marketing costs, among other factors.
e.l.f. Beauty (ELF) – e.l.f. is the target of a proxy fight by private-equity firm Marathon Partners, which plans to nominate three directors to the discount cosmetics company’s board. Marathon is dissatisfied with the company’s cost structure and stock price, among other things.
Apple (AAPL) – Apple has landed director Martin Scorsese’s next film, “Killers of the Flower Moon” for its Apple TV service, according to The Wall Street Journal. It beat out competitors such as Netflix (NFLX), which had produced Scorsese’s last film, “The Irishman.”
Delta Air Lines (DAL) – The airline will announce details of two voluntary job reduction programs today, according to a letter sent to employees by the airline’s CEO, Ed Bastian.