Strong quarter boosts Michael Kors
Jon "DRJ" Najarian | firstname.lastname@example.org
Beats on Earnings, Sales, Outlook
The fashion retailer is spiking higher this morning after reporting quarterly earnings of $0.34 per share, well above the consensus forecast of $0.20 EPS. Revenues came in at $414.9 million, driven by a 37 percent rise in same-store sales, versus Wall Street's estimate of $368.3 million. For the next quarter, the company issued guidance of $0.33 to $0.35 EPS, easily besting the $0.28 projected by analysts. KORS is up more than 11 percent to $47.28 in the pre-market.
Envivio Share Price Is Cut in Half
The Internet video-delivery company is in a free-fall after revenue guidance badly missed expectations as management blamed macro-economic weakness. The company said last night that revenues for its fiscal second quarter would come in at $10 million to $11 million, well below the $17.7 million consensus estimate. ENVI is down more than 47.5 percent to $3 on my tradeMONSTER extended-hours platform.
Groupon Continues to Plummet
The daily-discount service is falling further today after missing Wall Street's revenue expectations last night. Second-quarter revenues totaled $568.3 million, compared with the consensus estimate of $573 million. Groupon did beat earnings expectations, with $0.08 per share versus the $0.03 EPS forecast. The company projected third-quarter revenues of $580 million to $620 million versus the $604 million that analysts had been looking for. GRPN is plunging about 22 percent to $5.82 this morning.