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Affirm’s fiscal fourth-quarter revenue of $446 million beat analyst estimates.
Gabe Jones/Bloomberg
Stock futures were pointing slightly higher on Friday as investors moved cautiously ahead of Federal Reserve Chairman Jerome Powell’s speech at the central bank summit in Jackson Hole, Wyoming.
These stocks were poised to make moves on Friday:
Confirms
(AFRM) rose 7.7% after revenue of $446 million in the fiscal fourth quarter beat analyst estimates and the buy-now-pay-later company posted a smaller-than-expected loss. The total cargo volume in this period amounted to $5.5 billion
Confirms
GMV expects between $5.3 billion to $5.5 billion in the first quarter.
Marvell technology
(MRVL) reported adjusted second-quarter earnings that beat analysts’ expectations but issued a third-quarter forecast that was in line with estimates, disappointing investors and sending shares of the chip maker down 4% in pre-market trading.
Electric Hawaii
(HE) fell 21% in pre-market trading after it suspended its dividend, starting in the third quarter, to “further increase its cash position”. “Taking this action will allow us to continue to allocate funds to rebuild and restore power and ensure a strong future for the facilities,” the company said. Hawaiian Electric has been accused of playing a role in starting the devastating wildfires on Maui.
AMC Entertainment
(AMC) fell 2.8% in premarket trading after falling 27% in the previous session. The movie theater chain will convert its preferred stock units into common shares on Friday. The “APEs” first appeared last year on the New York Stock Exchange as AMC attempted to raise money to pay down debt. AMC concluded a reverse stock split 10 to 1 before opening trading on Thursday.
intuit
INTU announced fourth-quarter financial earnings and revenue that beat analyst estimates. The manufacturer of TurboTax said it expects first-quarter revenue growth of about 10% to 11%, and adjusted earnings of $1.94 to $2 per share versus analyst expectations of $2.01. The stock fell 1%.
a work day
(WDAY), a provider of enterprise human resources and financial software, reported better-than-expected second-quarter adjusted earnings and a 16% jump in revenue to $1.79 billion, which also beat expectations. The company also raised its guidance for subscription revenue growth for the fiscal year.
Retailer of clothing
gap
GPS reported sales in the second quarter fell 8% to $3.55 billion, lower than Wall Street estimates, while comparable store sales fell 6%. Adjusted earnings in the quarter of 34 cents per share beat expectations that called for earnings of 9 cents. Gap estimated that third-quarter sales could fall in the low double-digit range, more than forecasts for a decline of about 7%. The stock was down 0.3% in pre-market trading.
earnings in the second quarter
Nordstrom
(JWN), the supermarket chain, beat expectations and the company confirmed its forecast for the fiscal year even as revenue fell to $3.77 billion from $4.09 billion a year earlier. Shares fell 0.7%.
Alta beauty
(ULTA) rose 1% after the cosmetics retailer raised its forecast for fiscal year sales and profits.
Write to Joe Woelfel at joseph.woelfel@barrons.com
(tags for translation)semiconductors
