5 big earnings reports: Bed Bath & Beyond, Illumina

let atwWrapper,atwContainerWidth,atwSliderBox,atwTotalWidth; function initATWSlider() { atwWrapper = $('.relatedInstruments'); atwSliderBox = atwWrapper.find('.slider'); atwContainerWidth = atwWrapper.width(); atwTotalWidth = atwSliderBox.width(); if(window.domainId === '2' || window.domainId === '3'){ atwWrapper.find('.sliderRight').addClass('js-slider-prev'); atwWrapper.find('.sliderLeft').addClass('js-slider-next'); } else { atwWrapper.find('.sliderRight').addClass('js-slider-next'); atwWrapper.find('.sliderLeft').addClass('js-slider-prev'); } if(atwSliderBox.find('.instrumentBox').length > 6){ atwWrapper.find('.js-slider-next').fadeIn(600); } } function atwMoveRight() { atwWrapper.find('.js-slider-prev').fadeIn(150); $(".slider > :visible:first").hide(150) $(".slider > :visible:last").next().show(150); if(!$(".slider > :visible:last").next().find('.name')()){ atwWrapper.find('.js-slider-next').fadeOut(150); return; } } function atwMoveLeft() { atwWrapper.find('.js-slider-next').fadeIn(150); $(".slider > :visible:last").hide(150); $(".slider > :visible:first").prev().show(150); if(!$(".slider > :visible:first").prev().find('.name')()){ atwWrapper.find('.js-slider-prev').fadeOut(150); return; } } initATWSlider(); //update star icon on adding/removing instrument to/from specific watchlist atwWrapper.on('click', 'label.addRow', function() { let parent = $(this).parent(); let checkedPortfolio = false; parent.find('input[type=checkbox]').each(function () { if($(this).is(':checked')){ checkedPortfolio = true; } }); let closestStar = $(this).closest('.addToPortWrapper').find('.star'); if(checkedPortfolio){ closestStar.addClass('added'); }else{ closestStar.removeClass('added'); } }); //update star icon on creating new watchlist atwWrapper.find('.js-create-watchlist-portfolio').find('a.js-create').on('click',function () { let parent = $(this).parent(); let watchlistName = parent.find('input[type=text]').val(); if(!watchlistName){ return; } let star = $(this).closest('.addToPortWrapper').find('.star'); star.addClass('added'); }); //update star icon on adding new position atwWrapper.find('.js-create-holdings-portfolio').find('.js-submit').on('click',function () { let addPositionForm = $(this).closest('.addToPortfolioPop').find('.holdingsContent'); let amount = addPositionForm.find('.js-amount').val(); if(amount < 1){ return; } let star = $(this).closest('.addToPortWrapper').find('.star'); star.addClass('added'); }); atwWrapper.find('.instrumentBox').find('.shortInfo').on('click',function () { if(!window.ga){ return; } let pairId = $(this).parent().find('.js-add-to-portfolio').attr('data-pair-id'); let pairType = window.atwPairTypes[pairId]; window.ga('allSitesTracker.send', 'event', 'content', 'symbol link clicked', '', { "dimension147":"symbol_link_clicked", "dimension163":"click", "dimension148":"symbol", "dimension162":"content add to watchlist", "dimension161":"article page", "dimension142":"article", "dimension75":pairType, "dimension138":pairId, "dimension118":"2977970" }); window.open($(this).attr('data-href')); }); window.atwPairTypes = {"6389":"Equities","8062":"Equities","13081":"Equities","21140":"Equities","994018":"Equities","1162794":"Equities"};

By Davit Kirakosyan

AiVIF.com - In case you missed it, here are yesterday's 5 biggest earnings announcements. Get this news in real time by signing up for AiVIFPro.

Bed Bath & Beyond (NASDAQ:BBBY) shares closed up more than 27%, and surged 23% after-hours, despite the company reporting lower-than-expected financial results for Q3. Retail investors drove stock prices higher as they speculated that the company could be a target for acquisition. Q3 EPS came in at ($3.65), significantly worse than the consensus estimate of ($2.38). Revenue fell 33% year-over-year to $1.26 billion, missing the consensus estimate of $1.33 billion. The company said it will lay off more employees in an attempt to reduce costs. This comes a week after Bed Bath announced it was exploring options including bankruptcy.

Illumina (NASDAQ:ILMN) shares closed down more than 6% on weaker-than-expected 2023 profit guidance. The company sees fiscal 2023 EPS in the range of $1.25-$1.50, compared with the consensus of $2.99, and revenue in the range of $4.90-$5.03, compared with the consensus of $5 billion. Following the announcement, Cowen lowered its price target on the stock to $296 from $350.00 and said that "after a number of disappointing qtrs & guidance cuts, on top of the unpopular GRAIL deal, investor confidence is shaken."

SYNNEX (NYSE:SNX) shares closed up more than 4% after the company reported better-than-expected Q4 results. EPS came in at $3.44, compared with the consensus estimate of $2.93, and revenue was $16.2 billion (up 4.1% year-over-year), beating the consensus estimate of $15.79 billion. The company expects Q1/23 EPS in the range of $2.60-$3.00, compared with the consensus of $3.05, and revenue in the range of $15.2-16.2 billion, compared with the consensus of $15.85 billion.

Ichor Holdings (NASDAQ:ICHR) shares plunged more than 16% after-hours following the company’s announced preliminary results for Q4/22. Q4 revenue is expected to be in the range of $300-$302 million, missing the consensus estimate of $335 million.

Albertsons (NYSE:ACI) reported its Q3 results, with EPS of $0.87 coming in better than the consensus estimate of $0.67. Revenue was $18.2 billion, beating the consensus estimate of $17.59 billion. The earnings report comes after the company accepted a $24.6 billion merger offer from Kroger (NYSE:KR) in October.

***

If you’re interested in upgrading your search for new investing ideas, check out AiVIFPro.