Financialinsiders.com Earnings Recap Week Ending November 24th, 2017

NEW YORK, November 24, 2017 /PRNewswire/ --

U.S. stocks were flat on Wednesday after the major indexes hit record highs on Tuesday. Solid third-quarter corporate earnings results have contributed to the rally in the stock market this week. According to FactSet, 97.8 percent of the S&P 500 companies had reported an average 6.25 percent increases in the third quarter earnings on a year-over-year basis, while about 74 percent of the companies had posted better-than-expected earnings. According to CNBC, Frank Cappelleri, executive director at Instinet, said in a note to clients, "New highs were the undeniable theme once again on Tuesday…It happened for the S&P 500 and for many, many other indices, ETFs and stocks. Broad participation and a proliferation of uptrends have helped this remain the case all year." GameStop Corp. (NYSE: GME), Baozun Inc (NASDAQ: BZUN), Hewlett Packard Enterprise Co (NYSE: HPE), salesforce.com, Inc. (NYSE: CRM), Guess?, Inc. (NYSE: GES)

The S&P 500 is up about 16 percent this year and crossing the 2,600 mark for the first time on Tuesday. Improving economic data is one of the drivers of the stock market. The Labor Department on Wednesday posted the U.S. jobless claims data for the week ended November 18. Initial claims for unemployment benefits decreased by 13,000 to a seasonally adjusted 239,000 last week. Economists polled by Reuters had estimated initial claims to be 240,000 in the latest week. The Jobless claims have been below 300,000 for 142 straight weeks, the longest streak since 1970.

GameStop Corp. (NYSE: GME) stock jumped about 8% Wednesday after the company reported sales and earnings for the third quarter ended October 28, 2017. Total global sales increased 1.5% to $1.99 billion (flat in constant currency), resulting in consolidated comparable store sales growth of 1.9%. New hardware sales increased 8.8%, led by demand for Nintendo Switch, and new software sales increased 5.4% driven by a strong title lineup. Pre-owned sales declined 2.4%. Worldwide omnichannel sales increased by 38.6% on the strength of new hardware sales. Dan DeMatteo, interim chief executive officer, said in a statement, "Our third quarter sales results were driven by strong software demand and continued momentum for Nintendo Switch and collectibles… As we enter the fourth quarter, we are encouraged by the initial customer response to Microsoft's Xbox One X, and believe that the holiday season results will be driven by new console hardware and collectibles." 

Baozun Inc (NASDAQ: BZUN) announced its unaudited financial results for the third quarter ended September 30, 2017. Total net revenues were RMB890.2 million (US$ 133.8 million), an increase of 18.8% year-over-year. Income from operations was RMB27.8 million (US$ 4.2 million), an increase of 22.6% year-over-year. Mr. Vincent Qiu, Chairman and Chief Executive Officer of Baozun, explained, "We are pleased to report another outstanding quarter where we continued to strengthen our long-term competitive advantages, drove strong growth from our existing online stores and optimized efficiency with innovative new tools… I am proud of our strong performance during this year's Singles Day where we recorded total order value around RMB5 billion, almost double the amount from last year."

Hewlett Packard Enterprise Co (NYSE: HPE) announced financial results for its fiscal 2017 and the fourth quarter, ended October 31, 2017. Combined net revenue of $7.8 billion includes $7.7 billion from continuing operations and $174 million from Software, which is now included in discontinued operations. Meg Whitman, CEO of HPE, said in a press release, "With strong top line revenue growth, earnings above our previous outlook and our second consecutive quarter of sequential margin improvement, our fourth quarter results are a reflection of the progress we have made over the past two years to transform HPE into a nimble, focused and innovative organization… Today, HPE has a very strong balance sheet, an industry-leading product portfolio and a world-class leadership team ready to drive the next phase of shareholder value."

Salesforce.com, Inc. (NYSE: CRM) shares down about 1.8% after the company announced third quarter revenue was $2.68 billion, an increase of 25% year-over-year, and 23% in constant currency. Subscription and support revenues were $2.49 billion, an increase of 25% year-over-year. Professional services and other revenues were $194 million, an increase of 20% year-over-year. announced results for its fi scal third quarter ended October 31, 2017. "Salesforce delivered a record third quarter, and we're on a path to exceed $20 billion faster than any enterprise software company in history," said Marc Benioff, chairman and CEO, Salesforce. "With this phenomenal growth, we are building a company for the ages, creating value for our Trailblazers - our customers, employees, investors and communities - while helping make the world a better place for decades to come."

Guess?, Inc. (NYSE: GES) stock crashed about 10%. reported financial results for its third quarter ended October 28, 2017. Total net revenue for the third quarter of fiscal 2018 increased 3.3% to $554.1 million, compared to $536.3 million in the prior-year quarter. In constant currency, net revenue increased by 0.6%. Americas Retail revenues decreased 13.4% in U.S. dollars and 14.3% in constant currency. Retail comp sales including e-commerce decreased 10% in U.S. dollars and 11% in constant currency.Victor Herrero, Chief Executive Officer, commented, "Overall, our third quarter adjusted operating profit finished within our expectations, and adjusted earnings per share ended above the high-end of our guidance. We continue to see good momentum in Europe and Asia, where our revenues were up 19% and 17%, respectively, mainly driven by new store openings, wholesale growth and positive comp sales. We were also thrilled with the operating margin expansion in the Americas Retail despite a sales decline. This is the result of our profit improvement plan which included tight markdown management, higher IMUs, negotiated rent reductions and unprofitable store closures."

Follow us on Twitter for real time Financial News Updates: https://twitter.com/FinInsiders

Follow and talk to us on Instagram: https://www.instagram.com/financialinsiders/

Facebook Like Us to receive live feeds: https://www.facebook.com/financialinsiders/

About FinancialInsiders.com

Financialinsiders.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially-driven digital space, video production and integration of social media, FinancialInsiders.com creates 100% unique original content. FinancialInsiders.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: Financialinsiders.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.Financialinsiders.com (the "site") is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), Financialinsiders.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. Financialinsiders.com has not been compensated directly by any of the companies mentioned here in this editorial. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. Financialinsiders.com receives fees for producing and presenting high quality and sophisticated content on Financialinsiders.com along with other financial news PR media services. Financialinsiders.com does not offer any personal opinions or bias commentary as we purely incorporate public market information along with financial and corporate news. Financialinsiders.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For this release, Financialinsiders.com has not been compensated for financial news dissemination and PR services by any parties. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. Financialinsiders.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialInsiders.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. Financialinsiders.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. Financialinsiders.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by Financialinsiders.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by Financialinsiders.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.Financialinsiders.com .

For further information:
Media Contact:
info@Financialinsiders.com
+1-212-381-6028

SOURCE Financialinsiders.com

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.