Stocks to Watch: Snap, Ford, Sonos, The Container Store Group
By Ben Glickman
Snap's revenue rose 5% in the fourth quarter but missed analysts' estimates. The parent company of the social-media platform Snapchat is forecasting sales growth of 11% to 15% in the first quarter, in line with analysts' estimates, but issued guidance for adjusted Ebitda, or earnings before interest, tax, depreciation and amortization, that was more negative than analysts expected. Shares fall 33% to $11.74 after-hours.
Ford Motor projected between $10 billion and $12 billion in adjusted pre-tax income in 2024 off the strength of recent cost cuts and its truck business. The company's adjusted profit and sales in the fourth quarter topped analysts' estimates. Shares rise 6.3% to $12.83 after-hours.
Sonos's fiscal first-quarter profit rose and topped analysts' estimates, despite revenue falling in the period. The company backed its previous outlook for fiscal 2024 sales to be down 3% to up 3%. Shares rise 13% to $18.54 after-hours.
The Container Store Group reduced its outlook for fiscal 2024 sales and comparable store sales after the company's top-line results fell sharply in the fiscal third quarter. The storage and organizational products seller swung to a loss in the period. Shares fall 9.4% to $1.54 after-hours.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
February 06, 2024 19:05 ET (00:05 GMT)
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