In the late-morning trading on Tuesday, the Dow Jones industrials were up 1.49%, the S&P 500 up 2.03% and the Nasdaq up 2.33%. February’s consumer price index came in as expected, up 6% in 12 months, and core inflation was up 5.5% year over year.
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After U.S. markets closed on Monday, GitLab reported fourth-quarter revenue that beat expectations and a net loss per share that was also better than expected. What was dragging the shares down Tuesday was lukewarm revenue guidance for both the current year and the full 2024 fiscal year. Shares traded down 28% Tuesday.
Lennar, SentinelOne and StoneCo are on deck to report quarterly results after markets close on Tuesday. Look for Adobe and UiPath to post their results late Wednesday.
First thing Thursday morning, the following four companies are scheduled to report earnings.
Academy Sports
Sporting gear retailer Academy Sports and Outdoors Inc. (NASDAQ: ASO) has seen its share price soar by nearly 90% over the past 12 months. After posting a new all-time high early in February, the stock has slipped in by about 2.8%. Rival Dick’s Sporting Goods reported better-than-expected revenue and earnings. Then the company doubled its dividend. Prior to reporting results for its third quarter, Academy’s one-year return was nearly three times better than Dick’s. Did Academy bring that game to the fourth quarter?
Of 13 brokerages covering the firm, 12 have a Buy or Strong Buy rating and the other rates it at Hold. At a recent share price of around $60.00, the upside potential based on a median price target of $70.00 is 16.7%. At the high price target of $80.00, the upside potential is about 33.3%.
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