Check out the firms making headlines earlier than the bell Friday:
Ollie’s Bargain Outlet (OLLI) — Shares of the retailer slid more than 11% following commentary round a slowdown in the firm’s fourth-quarter traits. “Quarter-to-date, our comparable-store sales increases are tracking in the low single-digits,” CEO John Swygert stated in an announcement. Goldman Sachs downgraded the firm to a “neutral” score. The firm did, nevertheless, beat high and backside line estimates throughout the interval.
Marvell Technology (MRVL) — Shares of the semiconductor firm slid more than 5% following Marvell’s third-quarter earnings outcomes. The firm earned 25 cents per share, which was in line with Street estimates compiled by FactSet. The firm’s income of $750.1 million was simply shy of the anticipated $751 million. Storage gross sales, nevertheless, slipped quarter-over-quarter, and the firm’s fourth-quarter steerage dissatisfied the Street.
Carvana (CVNA) — Shares of the on-line automotive retailer superior more than 2% after Jefferies initiated protection on the inventory with a “buy” score. In a observe to shoppers titled “A Shiny New Model That’s Speeding Past Competition,” the agency stated Carvana operates in a “massive addressable market ripe for disruption.” Jefferies has a $300 goal on the inventory, which is about 32% above the place shares closed on Thursday.
Dish Network (DISH) — Shares of the tv supplier slid 1% following a downgrade to “neutral” by Guggenheim. The agency additionally eliminated Dish from its greatest concepts record. “While we had hoped asset value would have been realized through either a sale of spectrum, or a partnership with a deep-pocketed tech firm, those scenarios are seemingly becoming much less likely,” the agency stated in a observe to shoppers.
Stitch Fix (SFIX) — Shares of the clothes subscription service firm slid more than 2% after MKM Partners downgraded the inventory to “sell” from “neutral.” The agency famous that current social media checks level to an absence of stock and delayed shipments, amongst different issues. Wells Fargo downgraded the firm to an “underweight” score on Thursday.
Yext (YEXT) — Shares of the search know-how firm dipped more than 10% after Yext gave weaker-than-expected steerage for the present quarter. The firm stated it expects income to be between $87 million and $89 million for the fourth quarter, in comparison with the $94.three million anticipated by analysts surveyed by FactSet. The firm did, nevertheless, beat high and backside line estimates throughout the third quarter.
Ulta Beauty (ULTA) — Shares of the magnificence retailer slid more than 4% after the firm stated same-store gross sales fell 8.9% throughout the third quarter. The firm earned $1.64 per share throughout the quarter, which was forward of the $1.49 anticipated by analysts surveyed by FactSet. Revenue of $1.55 billion was barely shy of the anticipated $1.56 billion. “We see more downside than upside for ULTA shares at current levels and maintain our hold rating,” analysis agency Stifel stated following the outcomes.
—CNBC’s Michael Bloom contributed reporting.
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