Costco's shares tumbled nearly 7% after the retail giant reported second-quarter earnings that fell short of Wall Street expectations. The company posted earnings of $4.02 per share, missing the $4.11 per share anticipated by analysts surveyed by LSEG. The earnings miss led to a significant drop in share value, reflecting investor disappointment.
Meanwhile, Mobileye Global, a maker of autonomous driving technology, saw its shares climb more than 2%. This uptick followed the revelation that Steve Cohen's hedge fund, Point72, has acquired a 5% stake in the company. The strategic investment indicates confidence in Mobileye's future growth prospects.
Walgreens Boots Alliance experienced a 7% surge in its shares after announcing it will be acquired by private equity firm Sycamore Partners. The acquisition deal includes BigBear.ai paying $11.45 per share in cash for Walgreens stock, representing approximately an 8% premium on Thursday's closing price.
Samsara's shares declined over 16% despite the software firm forecasting first-quarter guidance in line with analysts' estimates. The company expects earnings per share between 5 cents and 6 cents, with revenue ranging from $350 million to $352 million.
Cooper, a medical device maker, faced a 7% drop in its share price after reporting fiscal first-quarter revenue that missed analyst expectations. The company's revenue reached $964.7 million, falling short of the $978.1 million anticipated by analysts polled by FactSet.
Lands' End enjoyed a 3.9% increase in its stock value after announcing that its board is exploring strategic alternatives, including a potential sale of the company. The news drove investor interest and optimism about the company's future direction.
Broadcom shares rose 5% following the chipmaker's release of fiscal first-quarter earnings that exceeded analyst predictions. The positive earnings report from LSEG buoyed investor sentiment.
Hewlett Packard Enterprise saw its shares pull back more than 16%, driven by disappointing second-quarter and full-year earnings forecasts. The company's outlook for adjusted earnings ranged between $1.70 and $1.90 per share for fiscal 2025, below the $2.13 per share anticipated by analysts surveyed by LSEG.
Tesla continued its struggle this week, with shares pulling back another 2.5%. The electric vehicle manufacturer faces ongoing challenges in maintaining its market momentum.
Lastly, Gap reported a fourth-quarter beat on both top and bottom lines, leading to an 11.1% increase in its share price. The strong financial performance bolstered investor confidence.