Top Earnings Movers for Wednesday, March 22, 2023
Top Earnings Movers
GameStop Beat Expectations
GameStop (GME) reported earnings of $0.16 per share on revenue of $2.23 billion for the fiscal fourth quarter ended January 2023. The consensus estimate was a loss of $0.16 per share on revenue of $2.18 billion. The Earnings Whisper number was a loss of $0.20 per share. The company beat expectations by 180.00% while revenue fell 1.22% compared to the same quarter a year ago.
The stock is currently trading at $24.82, which is up 40.6% on the day, with volume of 52.9 million shares. This is more than 11 times the average volume of 4.7 million shares over the past quarter. The stock has averaged a move of 7.2% on earnings over the past six quarters and options were priced for a 13.4% move.
Gamestop Corp is a multichannel video game retailer. It sells new and pre-owned video game hardware, physical and digital video game software, accessories, as well as PC entertainment software, new and pre-owned mobile and consumer electronics products.
Spectrum Pharmaceuticals Beat Expectations
Spectrum Pharmaceuticals (SPPI) reported a loss of $0.06 per share on revenue of $10.11 million for the fourth quarter ended December 2022. The consensus estimate was a loss of $0.09 per share on revenue of $8.92 million. The Earnings Whisper number was a loss of $0.08 per share. The company beat expectations by 25.00%.
The stock is currently trading at $0.74, which is down 10.4% on the day, with volume of 3.3 million shares. The average daily volume over the past quarter was 1.8 million. The stock has averaged a move of 3.9% on earnings over the past six quarters.
Spectrum Pharmaceuticals is a biopharmaceutical company focused on acquiring, developing, and commercializing novel and targeted oncology therapies.
Petco Health and Wellness Company Beat Expectations
Petco Health and Wellness Company (WOOF) reported earnings of $0.23 per share on revenue of $1.58 billion for the fiscal fourth quarter ended January 2023. The consensus earnings estimate was $0.24 per share on revenue of $1.57 billion. The Earnings Whisper number was $0.22 per share. The company beat expectations by 4.55% while revenue grew 4.20% on a year-over-year basis.
The stock is currently trading at $8.85, which is down 13.0% on the day, with volume of 7.5 million shares. This is more than 3 times the average volume of 2.3 million shares over the past quarter. The stock has averaged a move of 10.0% on earnings over the past six quarters and options were priced for a 13.5% move.
The company said it expects fiscal 2024 non-GAAP earnings of $0.54 to $0.62 per share on revenue of $6.150 billion to $6.275 billion. The current consensus earnings estimate is $0.70 per share on revenue of $6.35 billion for the year ending January 31, 2024.
Petco is a category-defining health and wellness company focused on improving the lives of pets, pet parents and our own Petco partners.
AAR Missed Expectations
AAR (AIR) reported earnings of $0.75 per share on revenue of $521.10 million for the fiscal third quarter ended February 2023. The consensus earnings estimate was $0.68 per share on revenue of $481.82 million. The Earnings Whisper number was $0.82 per share. The company missed expectations by 8.54% while revenue grew 15.24% on a year-over-year basis.
The stock is currently trading at $56.10, which is up 6.6% on the day, with volume of 217.9 thousand shares. The average daily volume over the past quarter was 217.5 thousand. The stock has averaged a move of 4.3% on earnings over the past six quarters.
AAR Corp along with its subsidiaries is engaged in providing products & services including overhaul, repair & engineering services to aviation & government & defense markets. It is also engaged in design, manufacture, & repair of transportation pallets.
Wave Life Sciences Missed Consensus Estimates
Wave Life Sciences (WVE) reported a loss of $0.47 per share on revenue of $1.24 million for the fourth quarter ended December 2022. The consensus estimate was a loss of $0.42 per share on revenue of $7.06 million. The company missed consensus estimates by 11.90% while revenue fell 29.80% compared to the same quarter a year ago.
The stock is currently trading at $3.87, which is down 8.7% on the day, with volume of 337.7 thousand shares. The average daily volume over the past quarter was 652.2 thousand. The stock has averaged a move of 7.6% on earnings over the past six quarters.
WAVE Life Sciences Pte. Ltd. is a preclinical biopharmaceutical company. It designs, develops and commercializes nucleic acid therapeutic candidates for Huntington's disease, Duchenne muscular dystrophy and inflammatory bowel disease. Huntington's disease, the Company has programs targeting HTT SNP-1 and HTT SNP-2; DMD, targeting Exon 51 and in IBD, it is targeting SMAD7. The Company has late-stage discovery programs in epidermolysis bullosa simplex, in which it is targeting KRT14 SNP-1 and KRT14 SNP-2 and in DMD, it is focused on an additional DMD target, Activin Receptor type IIb. WAVE Life Sciences Pte. Ltd. is based in Singapore.
Shoe Carnival Missed Expectations
Shoe Carnival (SCVL) reported earnings of $0.79 per share on revenue of $290.78 million for the fiscal fourth quarter ended January 2023. The consensus earnings estimate was $0.78 per share on revenue of $310.49 million. The Earnings Whisper number was $0.80 per share. The company missed expectations by 1.25% while revenue fell 7.21% compared to the same quarter a year ago.
The stock is currently trading at $25.27, which is up 8.2% on the day, with volume of 416.3 thousand shares. The average daily volume over the past quarter was 372.7 thousand. The stock has averaged a move of 7.5% on earnings over the past six quarters and options were priced for a 10.3% move.
The company said it expects first quarter revenue of approximately $301.65 million and fiscal 2024 earnings of $3.96 to $4.20 per share on revenue of $1.26 billion to $1.32 billion. The current consensus revenue estimate is $342.90 million for the quarter ending April 30, 2023 and earnings of $4.08 per share on revenue of $1.39 billion for the year ending January 31, 2024.
Shoe Carnival is a family footwear retailer, offers customers an assortment of moderately priced dress, casual and athletic footwear for men, women and children.