Affirm stock skids as Upstart anxiety weighs on fintech sector
Stephens downgrades Affirm stock following Upstart earnings
Stephens downgrades Affirm stock following Upstart earnings
Shares of Block Inc. SQ, +0.63% inched 0.63% higher to $84.39 Tuesday, on what proved to be an all-around mixed trading session for the stock market, with the NASDAQ Composite Index COMP, +0.98% rising 0.98% to 11,737.67 and the Dow Jones Industrial Average DJIA, -0.26% falling 0.26% to 32,160.74. Block Inc. closed $204.84 below its 52-week high ($289.23), which the company achieved on August 5th.
Shares of Arlo Technologies Inc. ARLO, -5.57% rallied more than 15% in the extended session Tuesday after the maker of home security cameras and other residential security equipment reported a narrower-than-expected first-quarter loss and sales topped Wall Street expectations, helped by the “strong growth” of Arlo’s service business. Arlo said it lost $8.5 million, or 10 cents a share, in the quarter, compared with a loss of $10.7 million, or 13 cents a share, in the year-ago quarter.
Electronic Arts Inc. shares rose in the extended session Tuesday after the videogame publisher reported a mixed bag of slight beats and misses in both its results and outlook.
GXO Logistics, Inc. (NYSE:GXO – Get Rating) – Analysts at Oppenheimer increased their FY2022 EPS estimates for GXO Logistics in a research note issued to investors on Sunday, May 8th. Oppenheimer analyst S. Schneeberger now anticipates that the company will post earnings of $2.78 per share for the year, up from their prior forecast of $2.71. Oppenheimer also issued estimates for GXO Logistics’ Q4 2022 earnings at $0.84 EPS and FY2023 earnings at $3.20 EPS. GXO Logistics (NYSE:GXO – Get Rating) last issued its quarterly earnings results on Wednesday, May 4th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. GXO Logistics had a net margin of 2.15% and a return on equity of 9.11%. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same period in the prior year, the company earned $0.37 EPS. GXO Logistics’s revenue was up 14.3% on a year-over-year basis.
Allscripts Healthcare Solutions (NASDAQ:MDRX – Get Rating) was downgraded by research analysts at TheStreet from a “b” rating to a “c” rating in a research note issued to investors on Friday, TheStreetRatingsTable reports.
Amgen (NASDAQ:AMGN – Get Rating) had its price target boosted by equities research analysts at Mizuho from $202.00 to $208.00 in a research note issued on Tuesday, The Fly reports. Mizuho’s price objective would suggest a potential downside of 13.06% from the stock’s current price.
Trex (NYSE:TREX – Get Rating) was upgraded by equities researchers at Credit Suisse Group from an “underperform” rating to a “neutral” rating in a research note issued to investors on Tuesday, The Fly reports.
South Korea’s new president says he’ll present “an audacious plan” to improve North Korea’s economy if it denuclearizes.
KUWAIT – Kuwait’s Crown Prince Sheikh Meshal al-Ahmad al-Sabah finally accepted the resignation submitted by the government more than a month ago, issuing a decree on Tuesday asking it to stay on in a caretaker role, state news agency KUNA reported.