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Dexcom Shares Drop 37% on Weak Revenue and Forecast; Coursera Rises 24% After Beating Q2 Revenue Estimates

Fernanda T
Latest News
July 26 2024 5:57AM

Dexcom (NASDAQ:DXCM) – The continuous glucose monitor company reported second-quarter revenue of $1 billion, below the estimate of $1.04 billion, according to LSEG. Adjusted earnings per share of 43 cents were better than the estimated 39 cents. However, Dexcom issued a reduced annual revenue forecast of $4 billion to $4.05 billion. Dexcom shares plummeted 36.90% pre-market.

Coursera (NYSE:COUR) – The online course company reported second-quarter revenue of $170.337 million, surpassing analysts’ estimate of $164.413 million, according to LSEG. However, Coursera posted a loss of 15 cents per share, while analysts expected a profit of 1 cent per share. Additionally, Coursera announced that it surpassed 2 million enrollments in its generative AI catalog and launched a record number of entry-level Professional Certificates in partnership with industry leaders. The shares jumped 23.75% pre-market.

Juniper Networks (NYSE:JNPR) – The networking and cybersecurity solutions company reported adjusted earnings of 31 cents per share and revenue of $1.19 billion in the second quarter. These results fell short of analysts’ estimates, which predicted 44 cents per share in earnings and $1.25 billion in revenue, according to LSEG. Non-GAAP net income fell 46% to $101.6 million. Despite the below-expected results, Juniper reported an increase in orders, driven by AI initiatives and strong demand in data centers. The $14 billion merger with Hewlett Packard Enterprise is expected by the end of 2024 or early 2025.

L3Harris Technologies (NYSE:LHX) – The advanced defense and technology company reported adjusted second-quarter earnings of $3.24 per share, above the expected $3.18. Sales grew 13% to $5.3 billion. L3Harris raised its 2024 earnings forecast to $12.85 to $13.15 per share. The projected revenue for 2024 is $21.0 billion to $21.3 billion. The shares fell 0.93% pre-market.

Lazard (NYSE:LAZ) – The investment bank more than doubled its second-quarter profit compared to last year, with revenue of $685 million, exceeding expectations. Financial advisory revenue grew 19%, while asset management revenue fell 1%. The shares rose 12% on Thursday, the best performance in four years, driven by cost reductions and increased investment banking activity.

LPL Financial (NASDAQ:LPLA) – LPL Financial reported adjusted earnings per share of $3.88, surpassing the estimate of $3.71, but missed the GAAP earnings expectations of $3.43, reaching $3.23. Revenue was $2.93 billion, slightly above the expected $2.89 billion.

NatWest (NYSE:NWG) – NatWest Group reported pre-tax revenue of £1.7 billion in the quarter, a decline of 4.1%, but still above analysts’ expectations of £1.29 billion. The bank’s net interest margin decreased by 10 basis points to 2.1%. Net interest and fee income exceeded expectations, helping to boost the bank’s shares. NatWest raised its annual revenue forecast to around £14 billion ($18 billion), exceeding the previous estimate of £13 to £13.5 billion, after a strong quarter driven by high-interest rates. The company also acquired a £2.5 billion mortgage portfolio and expects to keep expenses stable compared to 2023 despite inflation. The shares rose 6.80% pre-market.

Boston Beer Company (NYSE:SAM) – The renowned craft beer company reported earnings of $4.39 per share on revenue of $579 million, while analysts expected $5.02 per share in earnings and $597 million in revenue, according to LSEG. Net income fell 9.8% to $52.3 million. Boston Beer maintained its 2024 earnings per share projection of $7.00 to $11.00 but revised its volume forecast downward.

Deckers Outdoor (NYSE:DECK) – The footwear and sportswear company reported first fiscal quarter earnings of $4.52 per share, surpassing analysts’ forecasts of $3.48 per share. Revenue reached $825 million, above the expectation of $808 million. Deckers raised its fiscal 2025 earnings per share forecast to a range of $29.75 to $30.65, up from a previous range of $29.50 to $30.00. The shares rose 10.64% pre-market.

Skechers USA (NYSE:SKX) – The footwear and apparel company announced a $1 billion share repurchase and raised its annual profit and revenue projections, forecasting sales between $8.875 billion and $8.975 billion, and earnings per share between $4.08 and $4.18. In the second quarter, revenue rose 7.2% to $2.16 billion, with net income of $164.5 million.

Mohawk Industries (NYSE:MHK) – The flooring and coverings company reported adjusted earnings of $3 per share, excluding items, on revenue of $2.8 billion in the second quarter. Analysts polled by FactSet predicted earnings of $2.75 per share on revenue of $2.84 billion. Mohawk announced further restructuring measures to save $100 million annually, aiming to cut costs due to weak market conditions.

Norfolk Southern (NYSE:NSC) – The US rail operator exceeded second-quarter earnings estimates, with $3.06 per share versus the expected $2.86, thanks to strong pricing and intermodal volumes. Operating revenue rose 2% to $3 billion, slightly below forecasts. The adjusted operating ratio improved to 65.1%, reflecting more efficient cost control.

3M (NYSE:MMM) – 3M reports second-quarter results on Friday, while analysts expect earnings per share of $1.68 and sales of $5.9 billion for the second quarter. Sales growth and margins improved in the first quarter. For 2024, the company expects 1% sales growth and earnings between $6.80 and $7.30 per share. The shares fell 0.14% pre-market.

Bristol Myers (NYSE:BMY) – The pharmaceutical company is scheduled to report before the market opens on Friday. Analysts project Bristol Myers will report adjusted earnings of $1.62 per share and revenue of $11.54 billion in the second quarter.