에 대한 최신 뉴스 Buckle (NYSE:BKE) 주식

Buckle

Buckle Inc is a retailer of casual apparel, footwear, and accessories. The company retails medium to better-priced casual apparel, footwear, and accessories for fashion-conscious young men and women. It retails under the brand names 'Buckle' and 'The Buckle'. Buckle markets a wide selection of mostly brand-name casual apparel including denim, other casual bottoms, tops, sportswear, outerwear, accessories, and footwear.

Buckle Inc

BANK OF EAST ASIA LTD REG by Bank of East Asia Limited

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The Board also authorized a $0.35 per share quarterly dividend to be paid to shareholders of record at the close of business on January 15, 2025. Both the $2.50 per share special cash dividend and the $0.35 per share quarterly dividend ($2.85 per share in total) are payable on January 29, 2025 and will be paid together.

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Buckle Board Authorizes $2.50 Per Share Special Cash Dividend

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Shares of retail companies are trading higher possibly amid overall market strength. The sector may be gaining as investors evaluate the impact of Black Friday sales.

Buckle (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKE#NYSE">BKE</a>) just disclosed its Q3 earnings on Friday, November 22, 2024 at 06:50 AM.
Here's a brief overview of the earnings report.
<h3>Earnings</h3>
Buckle beat estimated earnings by 5.0%, reporting an EPS of $0.88 versus an estimate of $0.84.
Revenue was down $9.84 million from the same period last year.
<h3>Earnings History Overview</h3>
The company beat on EPS by $0.02 in the previous quarter, leading to a 5.0% increase share price change the next day.
Here's a look at Buckle's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.76</td>
<td>0.74</td>
<td>1.44</td>
<td>0.98</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.78</td>
<td>0.69</td>
<td>1.59</td>
<td>1.04</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>272.42M</td>
<td>263.64M</td>
<td>383.63M</td>
<td>316.70M</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>282.39M</td>
<td>262.48M</td>
<td>382.38M</td>
<td>303.46M</td>
</tr>
</tbody>
</table>

To track all earnings releases for Buckle <a href="https://www.benzinga.com/quote/BKE/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings

Buckle Q3 Earnings Assessment

General

Buckle shares are trading higher after the company reported better-than-expected Q3 EPS and sales.

Buckle (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKE#NYSE">BKE</a>) reported quarterly earnings of $0.88 per share which beat the analyst consensus estimate of $0.84 by 4.76 percent. This is a 15.38 percent decrease over earnings of $1.04 per share from the same period last year. The company reported quarterly sales of $293.62 million which beat the analyst consensus estimate of $286.02 million by 2.66 percent. This is a 3.24 percent decrease over sales of $303.46 million the same period last year.

Buckle Q3 EPS $0.88 Beats $0.84 Estimate, Sales $293.62M Beat $286.02M Estimate

U.S. stocks were lower, with the Dow Jones index falling more than 200 points on Tuesday.
Shares of Tyson Foods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSN#NYSE">TSN</a>) rose sharply during Monday's session following <a href="https://www.benzinga.com/news/earnings/24/11/41900813/tyson-foods-q4-earnings-revenue-and-eps-beat-beef-gains-outshine-chicken-dip-more">upbeat quarterly earnings</a>.
The company reported fourth-quarter adjusted earnings per share of 92 cents beating the street view 69 cents. Quarterly revenues of $13.565 billion (+1.6%) outpaced the analyst consensus of $13.392 billion.
Tyson shares jumped 8.5% to close at $63.79 on Monday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Taysha Gene Therapies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSHA#NASDAQ">TSHA</a>) shares surged 39.8% to $2.2781. Needham reiterated a Buy rating on the stock and Cantor Fitzgerald reiterated an Overweight rating.</li>
<li>NWTN Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWTN#NASDAQ">NWTN</a>) gained 33.6% to $1.5827.</li>
<li>Altimmune, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALT#NASDAQ">ALT</a>) rose 30.2% to $9.57 after the company reported better-than-expected third-quarter financial results. Also, UBS initiated coverage on the stock with a Buy rating and announced a price target of $26.</li>
<li>Shopify Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NYSE">SHOP</a>) gained 25.5% to $112.97 following strong quarterly sales.</li>
<li>Revance Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RVNC#NASDAQ">RVNC</a>) rose 19% to $4.1300.</li>
<li>Priority Technology Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRTH#NASDAQ">PRTH</a>) gained 16.7% to $8.63.</li>
<li>Alight, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALIT#NYSE">ALIT</a>) shares rose 13.6% to $8.48 after the company reported better-than-expected third-quarter sales results and issued fourth-quarter adjusted EPS guidance with its midpoint above estimates..</li>
<li>Grab Holdings Limite (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRAB#NASDAQ">GRAB</a>) gained 11.7% to $4.8990 after the company reported better-than-expected quarterly financial results and raised its FY25 revenue guidance above estimates.</li>
<li>Sea Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SE#NYSE">SE</a>) gained 10.8% to $108.00 after the company reported better-than-expected third-quarter sales, despite a miss on EPS estimates..</li>
<li>The Buckle, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKE#NYSE">BKE</a>) rose 5.4% to $47.57 after UBS upgraded the stock from Sell to Neutral and raised its price target from $31 to $46.</li>
<li>Live Nation Entertainment, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYV#NYSE">LYV</a>) gained 4.4% to $129.21 following third-quarter results. </li>
</ul>
Read More: 
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/41877638/jim-cramer-tech-stock-go-to-160-recommends-buying-dominos-pizza">Jim Cramer: This Tech Stock Can &#8216;Go To 160,&#8217; Recommends Buying Domino&#8217;s Pizza</a></li>
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Tyson Foods Posts Better-Than-Expected Earnings, Joins Shopify, Sea, Buckle And Other Big Stocks Moving Higher On Tuesday

Buckle shares are trading higher after UBS upgraded the stock from Sell to Neutral and raised its price target from $31 to $46.

UBS analyst Mauricio Serna upgrades Buckle (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKE#NYSE">BKE</a>) from Sell to Neutral and raises the price target from $31 to $46.

Upgrades

Price Target

Analyst Ratings

UBS Upgrades Buckle to Neutral, Raises Price Target to $46

<ul>
<li>The Buckle, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKE#NYSE">BKE</a>) announced today that comparable store net sales, for stores open at least one year, for the 4-week period ended November 2, 2024 increased 0.6 percent from comparable store net sales for the 4-week period ended November 4, 2023. Net sales for the 4-week fiscal month ended November 2, 2024 increased 0.1 percent to $87.9 million from net sales of $87.8 million for the prior year 4-week fiscal month ended October 28, 2023.</li>
<li>Comparable store net sales for the 13-week third quarter ended November 2, 2024 decreased 0.7 percent from comparable store net sales for the 13-week period ended November 4, 2023. Net sales for the 13-week fiscal third quarter ended November 2, 2024 decreased 3.2 percent to $293.6 million compared to net sales of $303.5 million for the prior year 13-week fiscal third quarter ended October 28, 2023.</li>
<li>Comparable store net sales year-to-date for the 39-week period ended November 2, 2024 decreased 5.4 percent from comparable store net sales for the 39-week period ended November 4, 2023. Net sales for the 39-week fiscal period ended November 2, 2024 decreased 4.6 percent to $838.5 million compared to net sales of $878.7 million for the prior year 39-week fiscal period ended October 28, 2023</li>
</ul>

The Buckle Reports October Sales Of $87.9M Vs. $87.8M YoY

Net sales for the 4-week fiscal month ended November 2, 2024 increased 0.1 percent to $87.9 million from net sales of $87.8 million for the prior year 4-week fiscal month ended October 28, 2023.

Buckle October Comparable Store Net Sales Increase 0.6%

Net sales for the 5-week fiscal month ended October 5, 2024 decreased&nbsp;2.5 percent&nbsp;to&nbsp;$100.6 million&nbsp;from net sales of&nbsp;$103.1 million&nbsp;for the prior year 5-week fiscal month ended September 30, 2023.

Buckle September Comparable Store Net Sales Decrease 4.3%

The Nasdaq 100 closed higher by over 1% during Monday's session. Investors, meanwhile, focused on some notable insider trades.
When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company's prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.
Below is a look at a few recent notable insider sales. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">Workday</h3>
<ul>
<li>The Trade: Workday, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDAY#NASDAQ">WDAY</a>) Director George J Still Jr <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 7,500 shares</a> at an average price of $255.45. The insider received around $1.9 million from selling those shares.</li>
<li>What's Happening: On Aug. 22, Workday reported better-than-expected second-quarter financial results and approved a new buyback program to repurchase up to an additional $1.0 billion of shares of its Class A common stock.</li>
<li>What Workday Does: Workday is a software company that offers human capital management, or HCM, financial management, and business planning solutions.</li>
</ul>
<h3 class="wp-block-heading">Buckle</h3>
<ul>
<li>The Trade: The Buckle, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKE#NYSE">BKE</a>) SVP Leasing Brett P Milkie <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 16,000 shares</a> at an average price of $41.35. The insider received around $661,560 from selling those shares.</li>
<li>What's Happening: On Aug. 23, Buckle reported better-than-expected second-quarter revenue results.</li>
<li>What Buckle Does: Buckle Inc is a retailer of casual apparel, footwear, and accessories.</li>
</ul>
<h3 class="wp-block-heading">Paycom Software</h3>
<ul>
<li>The Trade: Paycom Software, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAYC#NYSE">PAYC</a>) CEO and President Chad R. Richison <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 3,900 shares</a> at an average price of $155.46. The insider received around $606,298 from selling those shares.</li>
<li>What's Happening: On July 31, Paycom Software posted upbeat quarterly earnings</li>
<li>What Paycom Software Does: Paycom is a fast-growing provider of payroll and human capital management software primarily targeting clients with 50-10,000 employees in the United States.</li>
</ul>
<h3 class="wp-block-heading">MarineMax</h3>
<ul>
<li>The Trade: MarineMax, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HZO#NYSE">HZO</a>) Clint Moore <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 2,500 shares</a> at an average price of $30.03. The insider received around $75,075 from selling those shares.</li>
<li>What's Happening: On Sept. 9, Citigroup analyst James Hardiman upgraded MarineMax from Neutral to Buy and raised the price target from $40 to $44.</li>
<li>What MarineMax Does: MarineMax Inc is a United-States-based company that sells new and used recreational boats under premium brands, and related marine products, like engines, parts, and accessories.</li>
</ul>
Check This Out: 
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<li><a href="https://www.benzinga.com/news/earnings/24/09/40785814/dow-jumps-over-1-following-last-weeks-selloff-investor-sentiment-improves-but-fear-greed-index-rema">Dow Jumps Over 1% Following Last Week&#8217;s Selloff: Investor Sentiment Improves, But Fear &amp; Greed Index Remains In &#8216;Fear&#8217; Zone</a></li>
</ul>

Short Ideas

Insider Trades

Pre-Market Outlook

PAYC

WDAY

Workday, Buckle And 2 Other Stocks Executives Are Selling

Federal Reserve Chairman Jerome Powell has dispelled any remaining uncertainty by signaling that the central bank is preparing to shift its monetary policy, effectively paving the way for <a href="https://www.benzinga.com/etfs/sector-etfs/24/08/40529209/jerome-powell-time-has-come-for-interest-rate-cuts-cooling-in-labor-market-unmistakable">imminent interest rate cuts. </a>
His remarks triggered a rally in rate-sensitive assets and pushed the dollar towards the lowest close since July 2023.
&#8220;The time has come for policy to adjust. The direction of travel is clear,&#8221; Powell announced at the<a href="https://www.benzinga.com/topic/jackson-hole"> Jackson Hole Symposium </a>on Friday in Wyoming.
Powell expressed increased confidence in inflation returning to the 2% target and highlighted a heightened focus on the labor market, noting that conditions are cooling.
The market found significant support in Powell&#8217;s indication the Federal Reserve has &#8220;ample room&#8221; to respond to any emerging risks.
Small-cap stocks <a href="https://www.benzinga.com/markets/equities/24/08/40530908/powells-rate-cut-signal-triggers-small-cap-rally-gold-makes-record-highs-dollar-tumbles-7-etfs-o">emerged as clear winners</a> following Powell&#8217;s speech on Friday, with the Russell 2000 index surging by 3% by midday trading in New York. Traders flocked to these companies, anticipating significant relief from the prospect of lower borrowing costs.
Regional banks, as tracked by the SPDR S&amp;P Regional Banking (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>), were the brightest market spot, with the industry gauge rallying over 4.5%. All of its 141 constituents showed a positive performance. 
In contrast, large-cap indices maintained their gains from the market open, showing only little reaction to Powell&#8217;s remarks.
In the forex market, the dollar extended its decline, falling by 0.7% and heading toward its fifth negative weekly close with the sharpest decline since mid-November 2023. The decline in Treasury yields weighed on the greenback.
Commodities rallied, with gold up over 1.1% setting fresh all-time highs, and silver soaring 2.5%. Crude oil also surged, up 2.4%, while copper gained 1.7%. 
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rose 2.25% to $61,863.
<h1 class="wp-block-heading">Friday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,214.91</td>
<td>3.0%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,605.24</td>
<td>0.6%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>40,948.96</td>
<td>0.6%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,602.01</td>
<td>0.6%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1:00 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent082324&amp;t=be2bearmibe3na1">Benzinga Pro</a> data: 
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.5% higher to $559.11.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose 0.6% to $409.93.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.5% to $477.32.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rallied 3% to $220.06.</li>
<li>The Real Estate Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) outperformed, by 1.6%. The Consumer Staples Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) lagged, down by 0.2%.</li>
</ul>
<h1 class="wp-block-heading">Friday&#8217;s Stock Movers</h1>
<ul>
<li>Restaurant chain Cava Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAVA#NYSE">CAVA</a>) rallied 23%, after upbeat financial results last quarter.</li>
<li>Other stocks reacting to earnings were BILL Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BILL#NYSE">BILL</a>) down over 5%; Buckle, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKE#NYSE">BKE</a>) up 6.9%; Ross Stores, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROST#NASDAQ">ROST</a>) up 1.3%; Ubiquiti Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UI#NYSE">UI</a>) up 5.9 and Workday, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDAY#NASDAQ">WDAY</a>), up over 11%.</li>
<li>Roku Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>) rallied over 12% after Guggenheim upgraded the stock from Neutral to Buy. </li>
<li>Mortgage-sensitive Redfin Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDFN#NASDAQ">RDFN</a>) rallied over 20%. </li>
<li>Within regional banks, Eagle Bancorp, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGBN#NYSE">EGBN</a>), United Community Banks Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UCB#NYSE">UCB</a>) and Valley National Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLY#NYSE">VLY</a>) were the strongest performers, up 10.5%, 9.6% and 8.5%, respectively. </li>
</ul>
Read More: • <a href="https://www.benzinga.com/government/24/08/40532173/powell-removes-any-uncertainty-around-september-rate-cuts-in-jackson-hole-speech-economists">Powell Removes &#8216;Any Uncertainty&#8217; Around September Rate Cuts In Jackson Hole Speech: Economists</a> 
Don&#8217;t miss the opportunity to dominate in a volatile market at the&nbsp;<a href="https://www.benzinga.com/events/small-cap/global-small-cap-conference-2024/" target="_blank" rel="noreferrer noopener">Benzinga SmallCAP Conference</a>&nbsp;on Oct. 9-10 at the Chicago Marriott Downtown Magnificent Mile. Get exclusive access to CEO presentations, 1:1 meetings with investors, and valuable insights from top financial experts. Whether you&#8217;re a trader, entrepreneur, or investor, this event offers unparalleled opportunities to grow your portfolio and network with industry leaders. Secure your spot and get your tickets today!
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Russell 2000 Outshines S&P 500, Nasdaq 100 As Powell Eyes Rate Cuts; Dollar Sinks, Regional Banks Rocket: What's Driving Markets Friday?

Buckle, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKE#NYSE">BKE</a>) shares are <a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">trading higher on Friday.</a>
The company reported second-quarter earnings per share of 78 cents, <a target="_blank" href="https://www.benzinga.com/partner/fintech/24/08/40526334/linqtos-plan-to-bring-more-wealth-generation-opportunities-to-a-generation-of-investors-thats-war" rel="noreferrer noopener">missing the street view of 80 cents.</a> Quarterly decreased 3.4% to $282.4 million, beating the analyst consensus of $272.4 million.
Comparable store net sales decreased 6.6%. Online sales decreased 15.2% to $37.0 million. Net income for the second quarter was $39.3 million, compared with $45.6 million a year ago.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40507457/palantir-snags-former-gop-leader-mike-gallagher-as-defense-chief-sparking-new-debate-over-us-tec" rel="noreferrer noopener">Palantir Snags Former GOP Leader Mike Gallagher As Defense Chief, Sparking New Debate Over US Tech Security: Report</a>
Quarterly gross profit fell to $132.534 million, lower than $138.412 million. Operating income totaled $48.26 million, lower than $56.76 million a year ago.
Buckle exited the quarter with cash and equivalents worth $309.12 million. Inventory at the end of the second quarter was $131.418 million.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, BKE stock has gained 22% in the past year. Investors can gain exposure to the stock via&nbsp;ProShares Online Retail ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ONLN#NYSE">ONLN</a>) and&nbsp;The Acquirers Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZIG#NYSE">ZIG</a>).
Price Action: BKE shares are trading higher by 7.37% to $44.74 at last check Friday.
Photo via <a href="https://commons.wikimedia.org/wiki/File:Buckle%C2%AE_-_panoramio.jpg">Wikimedia Commons</a>
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ONLN

Why Is Fashion Retailer Buckle Stock Gaining Today?

Buckle shares are trading higher after the company reported better-than-expected Q2 revenue results.

Buckle (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKE#NYSE">BKE</a>) reported quarterly earnings of $0.78 per share which beat the analyst consensus estimate of $0.76 by 2.63 percent. This is a 15.22 percent decrease over earnings of $0.92 per share from the same period last year. The company reported quarterly sales of $282.39 million which beat the analyst consensus estimate of $272.42 million by 3.66 percent. This is a 3.43 percent decrease over sales of $292.43 million the same period last year.

Earnings Beats

Buckle Q2 EPS $0.78 Misses $0.80 Estimate, Sales $282.39M Beat $272.42M Estimate

Traders apparently are baking in expectations that Federal Reserve Chairman Jerome Powell will confirm at Jackson Hole that a rate cut is forthcoming. <a href="https://www.benzinga.com/markets/equities/24/08/40517352/nasdaq-100-slumps-1-6-as-traders-turn-cautious-ahead-of-powells-jackson-hole-address-tech-stocks">After Thursday&#8217;s hiccup, </a>stocks appear on track to open higher, with the index futures modestly higher early Friday. While delving into Powell&#8217;s speech, fund manager Louis Navellier said, &#8220;I suspect he&#8217;s going to say that the inflation has been in the Fed&#8217;s target range in the last three months, and he has to address the labor market as well.&#8221;
Analysts at Macquarie expect Powell to go with a neutral tone. &#8220;We wouldn&#8217;t be surprised by a moderate tone from Powell, which could have implications for currency markets and investor sentiment,&#8221; the analysts at the firm said, Investing.com <a href="https://www.investing.com/news/stock-market-news/powell-may-strike-moderate-tone-at-jackson-hole-unlikely-to-lean-too-dovish-macquarie-3581485">reported. </a>&#8220;Yet, we doubt that Powell will be so bold as to sound so &#8216;dovish,&#8221; they reportedly said.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.71%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.45%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.30%</td>
</tr>
<tr>
<td>R2K</td>
<td>+0.50%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Friday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) climbed 0.50% to $559.01, and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) gained 0.78% to $478.55, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Session: 
Selling resumed on Thursday as a modest increase in jobless claims and a faster-than-expected expansion seen in the service sector sapped the risk appetite of traders. The major averages opened slightly higher and saw some volatility in early trading. They began to move steadily lower thereafter before ending notably lower for the session amid caution ahead of Powell&#8217;s speech on Friday.
IT stocks fell by the most, and consumer discretionary and communications services stocks also fell sharply, while energy, financial and real-estate stocks bucked the downtrend.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-1.67%</td>
<td>17,619.35</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>-0.89%</td>
<td>5,570.64</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>-0.43%</td>
<td>40,712.78</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.95%</td>
<td>2,150.03</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
The market has shown a lot of resilience as they fought back after the Aug. 5 sell-off, said Fund Strat&#8217;s Tom Lee in a CNBC interview on Thursday. &#8220;The fact we snapped back so sharply is showing you how strong the market is,&#8221; he<a href="https://www.youtube.com/watch?v=A_D-Pmk7g9A"> said. </a>The July jobs data and the sharp downward adjustment made to non-farm payrolls during the annual revision gives more ammunition for the Fed to start a cutting cycle, he added.
This, the strategist, said will give more life to the economy and the markets, especially to cyclical and small-cap stocks. The techs are still in a good place due to the artificial intelligence technology, he said, adding that Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) will reinforce that. The multiple at which tech stocks are trading is not a demanding multiple, he said.
&#8220;If tech is in a good place and then we get Fed cuts, I think it allows the overall market to expand.&#8221;
Lee suggested the Fed should get off its data-dependence stance, as it is the reason why the central bank missed the inflation turn and is now missing the soft-landing.
Upcoming Economic Data
<ul>
<li>Powell is scheduled to speak at the Jackson Hole symposium at 10 a.m. EDT.</li>
<li>The Commerce Department will release its new home sales report for July at 10 a.m. EDT, with economists, on average, expect the number to come in at a seasonally adjusted annual rate of 620,000 units, slightly up from the 617,000-unit rate in June.</li>
</ul>
See also: <a href="https://www.benzinga.com/money/best-futures-trading-software">Best Futures Trading Software</a>
Stocks In Focus:
<ul>
<li>BILL Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BILL#NYSE">BILL</a>) rose over 4% <a href="https://www.benzinga.com/premarket">in premarket trading</a> following the company&#8217;s quarterly results announcement.</li>
<li>The other stocks moving on earnings are CAVA Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAVA#NYSE">CAVA</a>) (up over 9.5%), Ross Stores, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROST#NASDAQ">ROST</a>) (nearly 5.5%) and Workday, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDAY#NASDAQ">WDAY</a>) (up over 12.5%).</li>
<li>Buckle, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKE#NYSE">BKE</a>) is <a href="https://www.benzinga.com/calendars/earnings">due to release its quarterly results</a> before the market opens.</li>
<li>Crypto-linked stocks firmed up amid the strength among cryptocurrencies. MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) climbed nearly 3% and Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) gained over 1.75%.</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures are higher following back-to-back gains in the past two sessions and gold futures also advanced, with the yellow metal trading past the $2,530-an-ounce level. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) gained modest ground and traded above the $61K level. The yield on the 10-year Treasury note edged down slightly to 3.852%.
The Asian markets had a lackluster outing, as traders reacted to the pullback by Wall Street stocks overnight and chose to remain on the sidelines ahead of Powell&#8217;s speech. European stocks were higher in early trading. 
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Image Via Shutterstock

Futures

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NVDA

US Stocks Eye Strong Start As Traders Discount Dovish Comments From Jerome Powell At Jackson Hole: Nvidia's Earnings Will Reinforce That Tech Stocks Are In Good Place, Says Strategist

Comparable store net sales for the 13-week&nbsp;second quarter&nbsp;ended August 3, 2024 decreased&nbsp;6.6 percent&nbsp;from comparable store net sales for the 13-week period ended August 5, 2023.
Net sales for the 13-week fiscal&nbsp;second quarter&nbsp;ended August 3, 2024 decreased&nbsp;3.4 percent&nbsp;to&nbsp;$282.4 million&nbsp;compared to net sales of&nbsp;$292.4 million&nbsp;for the prior year 13-week fiscal&nbsp;second quarter&nbsp;ended July 29, 2023.

Buckle July Comparable Store Net Sales Decrease 6.8%; Net Sales For The 4-Week Fiscal Month Increase 3.8% To $98.7M

The Nasdaq Composite jumped 2.64% at 17,599.40 during Wednesday&#8217;s session. Investors, meanwhile, focused on some notable insider trades.
When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company's prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.
Below is a look at a few recent notable insider sales. For more, check out<a href="https://www.benzinga.com/sec/insider-trades/"> Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">Franklin Electric</h3>
<ul>
<li>The Trade: Franklin Electric Co., Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FELE#NASDAQ">FELE</a>) Executive Chairperson Gregg C Sengstack <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 15,396 shares</a> at an average price of $105.48. The insider received around $1.6 million from selling those shares.</li>
<li>What's Happening: On July 23, Franklin Electric reported worse-than-expected second-quarter financial results.</li>
<li>What Franklin Electric Does: Franklin Electric Co Inc designs, manufactures, and distributes water and fuel pumping systems, composed of submersible motors, pumps, electronic controls, water treatment systems, and related parts and equipment</li>
</ul>
<h3 class="wp-block-heading">Buckle</h3>
<ul>
<li>The Trade: The Buckle, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKE#NYSE">BKE</a>) President and CEO Dennis H Nelson <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 20,487 shares</a> at an average price of $41.33. The insider received around $846,672 from selling those shares.</li>
<li>What's Happening: On July 11, Buckle reported June 2024 net sales of $101.7 million.</li>
<li>What Buckle Does: Buckle Inc is a retailer of casual apparel, footwear, and accessories.</li>
</ul>
<h3 class="wp-block-heading">NVIDIA</h3>
<ul>
<li>The Trade: NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) President and CEO Jen Hsun Huang <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 240,000 shares</a> at an average price of $109.93. The insider received around $26.4 million from selling those shares.</li>
<li>What's Happening: NVIDIA will host a conference call on Wednesday, Aug. 28, to discuss its financial results for the second quarter.</li>
<li>What NVIDIA Does: Nvidia is a leading developer of graphics processing units.</li>
</ul>
<h3 class="wp-block-heading">Maplebear</h3>
<ul>
<li>The Trade: Maplebear Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CART#NASDAQ">CART</a>) President and CEO Fidji Simo <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 8,500 shares</a> at an average price of $34.53. The insider received around $293,511 from selling those shares.</li>
<li>What's Happening: On July 31, Instacart and Albertsons Companies expanded partnership nationwide launching pickup services and convenience delivery.</li>
<li>What Maplebear Does: Maplebear (Instacart) operates a leading grocery delivery platform in the United States and Canada.</li>
</ul>
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40101200/top-3-health-care-stocks-that-are-set-to-fly-this-quarter">Top 3 Health Care Stocks That Are Set To Fly This Quarte</a><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40101200/top-3-health-care-stocks-that-are-set-to-fly-this-quarter">r</a> </li>
</ul>

CART

FELE

NVIDIA, Maplebear And 2 Other Stocks Insiders Are Selling

The Nasdaq Composite dipped 0.70% during Thursday's session. Investors, meanwhile, focused on some notable insider trades.
When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company's prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.
Below is a look at a few recent notable insider sales. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">Alphabet</h3>
<ul>
<li>The Trade: Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) CEO Sundar Pichai <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 22,500 shares</a> at an average price of $182.84. The insider received around $4.1 million from selling those shares.</li>
<li>What's Happening: Alphabet's Google has revealed its upcoming Pixel 9 flagship smartphones before they can be leaked yet again. This time around, the search giant also has a foldable phone in the mix.</li>
<li>What Alphabet Does: Alphabet is a holding company. Internet media giant Google is a wholly owned subsidiary.</li>
</ul>
<h3 class="wp-block-heading">Roku</h3>
<ul>
<li>The Trade: Roku, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>) President, Roku Media Charles Collier <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 3,590 shares</a> at an average price of $65.00. The insider received around $233,350 from selling those shares.</li>
<li>What's Happening: Roku will release second quarter 2024 financial results after the closing bell on Thursday, Aug. 1.</li>
<li>What Roku Does: Roku enables consumers to stream television programming. It has more than 80 million streaming households and provided well over 100 billion streaming hours in 2023.</li>
</ul>
<h3 class="wp-block-heading">Dell Technologies</h3>
<ul>
<li>The Trade: Dell Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) Director Egon Durban <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 25,381 shares</a> at an average price of $134.42. The insider received around $3.4 million from selling those shares.</li>
<li>What's Happening: On July 1, Evercore ISI maintained an Outperform rating and $165 price target on the stock.</li>
<li>What Dell Does: Dell Technologies is a broad information technology vendor, primarily supplying hardware to enterprises.</li>
</ul>
<h3 class="wp-block-heading">Buckle</h3>
<ul>
<li>The Trade: The Buckle, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKE#NYSE">BKE</a>) Director John P Peetz <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 2,500 shares</a> at an average price of $40.26. The insider received around $100,650 from selling those shares.</li>
<li>What's Happening: On July 11, Buckle reported June net sales of $101.7 million, down by 5.8% year over year.</li>
<li>What Buckle Does: Buckle Inc is a retailer of casual apparel, footwear, and accessories.</li>
</ul>
Check This Out: 
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<li><a href="https://www.benzinga.com/news/24/07/39859847/netflix-to-rally-more-than-10-here-are-10-top-analyst-forecasts-for-friday">Netflix To Rally More Than 10%? Here Are 10 Top Analyst Forecasts For Friday</a></li>
</ul>

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