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DXC Technology Plummets 22.2% After Pessimistic Projections, Doximity Stocks Surge 14% in Pre-Market, and More on Earnings

Fernanda T
Latest News
May 17 2024 7:28AM

Doximity (NYSE:DOCS) – Shares of Doximity rose 14% in pre-market trading due to a positive fiscal report for the fourth quarter. The company exceeded expectations with an adjusted earnings of $0.25 per share and revenues of $118.1 million, reflecting a 6% year-over-year increase, driven by a 9% growth in subscription revenues. It also announced plans to repurchase up to $500 million in Class A common shares with no expiration date. For 2025, Doximity forecasts revenues between $506 million and $518 million and an adjusted EBITDA of $238 million to $250 million.

DXC Technology (NYSE:DXC) – Shares of DXC Technology fell 22.2% in pre-market trading after announcing pessimistic future results. In the fourth quarter, DXC Technology reported earnings per share of $0.97, surpassing analyst expectations of $0.83. Revenue reached $3.39 billion, slightly above the consensus estimate of $3.37 billion. For the first quarter, DXC forecasts earnings per share between $0.55 and $0.60, below the analyst expectation of $0.76. For fiscal year 2025, DXC anticipates earnings per share between $2.50 and $3.00, while the analyst consensus is $3.30.

Applied Materials (NASDAQ:AMAT) – In the last quarter, Applied Materials Inc. exceeded expectations with a net profit of $1.72 billion, equivalent to $2.06 per share, compared to $1.58 billion, or $1.86 per share, from the previous year. Adjusted, the earnings were $2.09 per share, against the forecast of $1.99. Revenue remained stable at $6.65 billion, surpassing the expectation of $6.54 billion. For the next quarter, the company projects similar revenues and adjusted earnings between $1.83 and $2.19 per share. Shares fell 1% in pre-market trading.

Take-Two Interactive (NASDAQ:TTWO) – Shares of Take-Two Interactive fell 2.4% in pre-market trading after announcing that “Grand Theft Auto VI” will only arrive in the fall of 2025, delaying the release forecast and reducing reservation expectations for fiscal year 2025 to $5.55 to $5.65 billion, well below the initially forecasted $8 billion. The company also reported a GAAP net loss of $2.9 billion in the fiscal fourth quarter, significantly affected by a goodwill expense of $2.18 billion.

Cracker Barrel Old Country Store (NASDAQ:CBRL) – Shares of Cracker Barrel fell 11% in pre-market trading after forecasting profits and sales below expectations for the next two quarters, due to decreased customer flow. The company also reduced its dividends to focus on business growth, to 25 cents per share, from $1.30 per share. In the last fiscal quarter, Cracker Barrel reported a revenue of $833 million. For the fiscal third quarter, analysts expect a revenue of $835 million, and for the fiscal fourth quarter, the expectation is $913 million.

Globant (NYSE:GLOB) – Globant reported solid financial performance in its latest report, meeting analyst expectations exactly with earnings per share of $1.53. Additionally, the company reported revenue of $571.08 million, slightly exceeding the analyst projection of $570.79 million by a margin of 0.05%. Shares are stable in pre-market.

Flowers Foods (NYSE:FLO) – Flowers Foods reported sales of $1.577 billion in the first quarter, an increase of 2.8% year-over-year. Net profit grew by 3.3%, reaching $73 million, with earnings per share (EPS) stable at $0.38, slightly below estimates. The forecast for adjusted EPS for 2024 is $1.20 to $1.30, surpassing the expectations of $1.24. Shares are stable in pre-market.

Adecoagro (NYSE:AGRO) – Shares of Adecoagro are stable in pre-market after announcing earnings per share of 22 cents in the first quarter of 2024, with revenue of $253.80 million, surpassing analyst expectations by 3.59%, who anticipated $245.00 million.