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Find out which companies are making the headlines before the Friday bell:
Ollie’s Bargain Outlet (OLLI) – Shares of the retailer slipped more than 11% following comments about the company’s slowing trends in the fourth quarter. “Since the start of the quarter, our comparable store sales increases have been at a lower figure,” CEO John Swygert said in a statement. Goldman Sachs downgraded the company to a “neutral” rating. The company, however, exceeded both upper and lower earnings estimates during the period.
Marvell Technology (MRVL) – Shares of the semiconductor company slipped more than 5% following Marvell’s third quarter results. The company earned 25 cents per share, which was in line with Street estimates compiled by FactSet. The company’s revenue of $ 750.1 million was slightly lower than the $ 751 million forecast. Storage sales, however, slipped quarter over quarter, and the company’s fourth-quarter forecast disappointed the streets.
Carvana (CVNA) – Shares of the online auto retailer rose more than 2% after Jefferies initiated a hedge on the stock with a “buy” rating. In a note to clients titled “A Brilliant New Model That Accelerates Past Competition,” the firm said Carvana operates in a “massive addressable market ready to be disrupted.” Jefferies has a target of $ 300 on the stock, about 32% above the stock close on Thursday.
Dish Network (DISH) – Shares of the TV provider slipped 1% following a downgrade to “neutral” by Guggenheim. The company also removed Dish from its best ideas list. “While we had hoped that the value of the assets would have been realized either by a sale of spectrum or by partnering with a deep-pocketed tech company, these scenarios appear to become much less likely,” the company said in a note. to customers.
Stitch Fix (SFIX) – Shares of the clothing subscription services company slipped more than 2% after MKM Partners demoted the stock to “sell” from “neutral”. The company noted that recent social media checks indicate, among other things, a lack of inventory and delayed shipments. Wells Fargo downgraded the company to an “underweight” rating on Thursday.
Yext (YEXT) – Shares of the research technology company fell more than 10% after Yext gave weaker-than-expected guidance for the current quarter. The company said it expected fourth-quarter revenue of between $ 87 million and $ 89 million, up from $ 94.3 million expected by analysts polled by FactSet. The company did, however, beat both upper and lower earnings estimates in the third quarter.
Ulta Beauty (ULTA) – Shares of the beauty product retailer fell more than 4% after the company said same-store sales fell 8.9% in the third quarter. The company earned $ 1.64 per share in the quarter, which was ahead of the $ 1.49 expected by analysts polled by FactSet. Revenues of $ 1.55 billion were slightly below the expected $ 1.56 billion. “We see more decline than rise for ULTA stocks at current levels and we are maintaining our sustaining rating,” research firm Stifel said after the results.
—Michael Bloom of CNBC contributed reporting.
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