Latest news with #KurtWolf
Yahoo
05-08-2025
- Business
- Yahoo
Pitney Bowes Inc. (PBI): A Bull Case Theory: A Bull Case Theory
We came across a bullish thesis on Pitney Bowes Inc. on by GoodHouse. In this article, we will summarize the bulls' thesis on PBI. Pitney Bowes Inc.'s share was trading at $11.53 as of August 4th. PBI's trailing and forward P/E were 14.06 and 9.00, respectively according to Yahoo Finance. A busy logistics center filled with trucks and planes, showing the scale of the companies operations. Pitney Bowes (NYSE: PBI) represents a rare opportunity in today's market: a near-monopoly business trading at roughly 5.4x free cash flow, with multiple catalysts to unlock value under the leadership of newly appointed CEO Kurt Wolf. Wolf, the company's largest shareholder and architect of its turnaround following a successful 2023 proxy fight, brings a proven capital allocation track record and has committed to prioritizing shareholder returns. After divesting its loss-making Global E-Commerce segment, Pitney Bowes now operates two core businesses: Presort and SendTech. Presort, which controls approximately 25% market share in mail sortation, generated $671 million in revenue and $217 million in EBITDA over the trailing twelve months, boasting strong margins despite being a low-growth business. The crown jewel is SendTech, a dominant equipment leasing, SaaS, and payments platform with 70% market share, producing $1.25 billion in revenue and $418 million in EBITDA at a 33.5% margin. SendTech's integrated payments arm, PB Bank, amplifies profitability with an 80%+ return on equity, fueled by low-cost customer deposits. The company expects $330–$370 million of free cash flow in 2025, or about $1.93 per share, implying an 18.6% levered FCF yield at current prices. Management plans to execute its full $150 million buyback authorization this year, with further repurchase capacity likely once leverage falls below 3.0x by Q2—earlier than anticipated. This disciplined capital allocation, combined with minimal competitive threats in a highly regulated market, creates significant upside potential. Even modest multiple expansion could drive shares toward $16–$19, while downside risk remains limited given Pitney Bowes' entrenched market position and recurring cash flow profile. Previously, we covered a bullish thesis on Pitney Bowes Inc. (PBI) by Unemployed Value Degen in March 2025, which highlighted activist involvement, restructuring benefits, and ambitious 2025 EBITDA targets. The company's stock price has appreciated by approximately 21% since our coverage. This is because restructuring and divestiture efforts strengthened its financials. GoodHouse shares a similar view but emphasizes Kurt Wolf's appointment as CEO and aggressive buybacks as key catalysts. Pitney Bowes Inc. is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 34 hedge fund portfolios held PBI at the end of the first quarter which was 34 in the previous quarter. While we acknowledge the potential of PBI as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
30-07-2025
- Business
- Business Wire
Pitney Bowes Discloses Strong Financial Results for Second Quarter 2025 and Issues CEO Letter
STAMFORD, Conn.--(BUSINESS WIRE)--Pitney Bowes Inc. (NYSE: PBI) ('Pitney Bowes' or the 'Company'), a technology-driven company that provides SaaS shipping solutions, mailing innovation, and financial services to clients around the world, today disclosed its financial results for the second quarter of 2025. In conjunction with this announcement, Pitney Bowes' CEO, Kurt Wolf, has released a letter to shareholders to provide his commentary on the quarter and updates on strategic initiatives. This letter issuance supports a format change to the Company's quarterly earnings calls, whereby management will deliver abbreviated commentary in order to devote additional time to more useful, interactive Q&A. Q2 2025 Financial Highlights Revenue was $462 million, down 6% year over year GAAP EPS was $0.17, an improvement of $0.30 year over year Adjusted EPS was $0.27, an improvement of $0.16 year over year GAAP net income of $30 million, an improvement of $55 million year over year Adjusted EBIT was $102 million, an improvement of $28 million or 37% year over year GAAP cash from operating activities was $111 million, up $31 million year over year Free Cash Flow was $106 million, and excluded $8 million of restructuring payments Earnings per share results are summarized in the table below: Second Quarter 2025 2024 GAAP EPS $0.17 ($0.14) Loss from discontinued operations, net of tax - $0.08 Restructuring charges $0.06 $0.13 Foreign currency loss on intercompany loans $0.07 - Transaction and strategic review costs $0.01 $0.04 Benefit in connection with Ecommerce Restructuring ($0.03) - Adjusted EPS $0.27 $0.11 Expand Q2 2025 CEO Commentary & Letter To read and/or download a copy of this quarter's CEO letter please click here. Q2 2025 Business Segment Reporting SendTech Solutions SendTech Solutions offers physical and digital shipping and mailing technology solutions, financing, services, supplies and other applications for small and medium businesses, retail, enterprise, and government clients around the world to help simplify and save on the sending, tracking and receiving of letters, parcels and flats. Second Quarter ($ millions) 2025 2024 % Change Reported Revenue $312 $339 (8%) Adj. Segment EBITDA $113 $108 5% Adj. Segment EBIT $101 $96 5% Expand SendTech revenue decline was driven by the end of the recent product migration, which largely concluded at the end of 2024, the ongoing shift from equipment placement to lease extensions and a decrease in mailing install base. Adjusted Segment EBITDA and EBIT improvement was driven by simplification and cost reduction initiatives. Presort Services Presort Services provides sortation services that enable clients to qualify for USPS workshare discounts in First Class Mail, Marketing Mail, Marketing Mail Flats and Bound Printed Matter. Second Quarter ($ millions) 2025 2024 % Change Reported Revenue $150 $147 2% Adj. Segment EBITDA $45 $36 25% Adj. Segment EBIT $36 $27 33% Expand Higher revenue per piece and product mix drove revenue growth. Adjusted Segment EBITDA and EBIT improvement was driven by cost reduction initiatives. Change to Segment Reporting Effective April 1, 2025, we revised our segment reporting to report the revenue and related expenses of a cross-border services contract in our SendTech Solutions reporting segment, which was previously reported in Other. Prior periods have been recast to conform to the current period presentation. 2025 Full-Year Outlook Pitney Bowes has updated its full-year revenue guidance, from a $1.95 billion to $2 billion range to a $1.90 billion to $1.95 billion range. This update, which is almost entirely attributable to Presort, stems from previously overemphasizing EBIT margins at the expense of winning and retaining certain Presort clients, which would have been profitable at lower margins. New management has reversed former management's policy to ensure Presort can leverage its strength and scale as the market leader under Debbie Pfeiffer. The Company also has raised its Adjusted EPS guidance from $1.10 to $1.30 range to a $1.20 to $1.40 range. The Company has tightened its Adjusted EBIT guidance by lowering the top end of the range and reaffirms its previously disclosed full-year guidance for Free Cash Flow. The Company's current financial guidance is as follows: $ millions, except EPS Low High Revenue $1,900 $1,950 Adjusted EBIT $450 $465 Adjusted EPS $1.20 $1.40 Free Cash Flow $330 $370 Expand Q2 2025 Earnings Conference Call Management will discuss the Company's results in a webcast today at 5:00 p.m. ET. Instructions for accessing the earnings results call are available on the Investor Relations page of the Company's website at About Pitney Bowes Pitney Bowes (NYSE: PBI) is a technology-driven company that provides SaaS shipping solutions, mailing innovation, and financial services to clients around the world – including more than 90 percent of the Fortune 500. Small businesses to large enterprises, and government entities rely on Pitney Bowes to reduce the complexity of sending mail and parcels. For the latest news, corporate announcements, and financial results, visit For additional information, visit Pitney Bowes at Adjusted Segment EBIT Adjusted Segment EBIT is the primary measure of profitability and operational performance at the segment level. Adjusted Segment EBIT includes segment revenues and related costs and expenses attributable to the segment, but excludes interest, taxes, general corporate expenses, restructuring charges, and other items not allocated to a business segment. We also report Adjusted Segment EBITDA as an additional useful measure of segment profitability and operational performance, which is calculated as Adjusted Segment EBIT plus depreciation and amortization expense of the segment. Use of Non-GAAP Measures Pitney Bowes' financial results are reported in accordance with generally accepted accounting principles (GAAP). Pitney Bowes also discloses certain non-GAAP measures, such as revenue growth on a constant currency basis, adjusted earnings before interest and taxes (Adjusted EBIT), adjusted earnings before interest, taxes, depreciation and amortization (Adjusted EBITDA), adjusted earnings per share (Adjusted EPS) and free cash flow. Revenue growth on a constant currency basis excludes the impact of changes in currency exchange rates from the prior period under comparison. Constant currency change is calculated by converting the current period non-U.S. dollar denominated revenue using the prior year's exchange rate. We believe that excluding the impacts of currency exchange rates provides a better understanding of the underlying revenue performance. Adjusted EBIT, Adjusted EBITDA and Adjusted EPS exclude the impact of restructuring charges, foreign currency gains and losses on intercompany loans, certain costs associated with the Ecommerce Restructuring, gains and losses on debt redemptions and other unusual items that we believe are not indicative to our core business operations. Free cash flow adjusts cash flow from operations calculated in accordance with GAAP for capital expenditures, restructuring payments and other special items. Management believes free cash flow provides better insight into the amount of cash available for other discretionary uses. Reconciliations of non-GAAP measures to comparable GAAP measures can be found in the attached financial schedules and at the Company's web site at: Forward-Looking Statements This document contains 'forward-looking statements' about the Company's expected or potential future business and financial performance, including, but not limited to, statements about future revenue and profitability, earnings guidance, future events or conditions, capital allocation strategy, expected cost savings and efficiency improvements, and strategic initiatives and priorities. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that could cause actual results to differ materially from those projected. Factors which could cause future financial performance to differ materially from expectations include, without limitation, changes in postal regulations or the operations and financial health of posts in the U.S. or other major markets or changes to the broader postal or shipping markets; accelerated or sudden decline in physical mail volumes or shipping volumes; the loss of some of our larger clients; changes in trade policies, tariffs and regulations;; global supply chain issues adversely impacting our third party suppliers' ability to provide us products and services; periods of difficult economic conditions, the impacts of inflation and rising prices, higher interest rates and a slow-down in economic activity, including a global recession, or a U.S. government shutdown, to the Company and our clients; changes in foreign currency exchange rates; changes in labor and transportation availability and costs; inability to successfully execute on our strategic initiatives; and other factors as more fully outlined in the Company's 2024 Form 10-K Annual Report and other reports filed with the Securities and Exchange Commission during 2025. Pitney Bowes assumes no obligation to update any forward-looking statements contained in this document as a result of new information, events, or developments. Pitney Bowes Inc. Consolidated Statements of Operations (Unaudited; in thousands, except per share amounts) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Revenue: Services $ 290,423 $ 297,253 $ 608,855 $ 619,943 Products 90,880 108,262 184,070 222,386 Financing and other 80,606 84,230 162,404 168,685 Total revenue 461,909 489,745 955,329 1,011,014 Costs and expenses: Cost of services 144,240 158,196 300,113 322,677 Cost of products 54,487 60,672 105,406 123,426 Cost of financing and other 15,656 20,398 33,163 41,685 Selling, general and administrative 170,542 192,804 336,457 379,636 Research and development 3,601 7,259 8,364 14,885 Restructuring charges 13,806 30,399 15,206 34,165 Interest expense, net 24,937 28,253 49,207 55,559 Other components of net pension and postretirement cost 1,947 (382 ) 3,801 (769 ) Other (income) expense (6,578 ) - 17,609 - Total costs and expenses 422,638 497,599 869,326 971,264 Income (loss) from continuing operations before taxes 39,271 (7,854 ) 86,003 39,750 Provision for income taxes 9,296 2,271 20,606 17,771 Income (loss) from continuing operations 29,975 (10,125 ) 65,397 21,979 Loss from discontinued operations, net of tax - (14,742 ) - (49,731 ) Net income (loss) $ 29,975 $ (24,867 ) $ 65,397 $ (27,752 ) Basic earnings (loss) per share: Continuing operations $ 0.17 $ (0.06 ) $ 0.36 $ 0.12 Discontinued operations - (0.08 ) - (0.28 ) Net income (loss) $ 0.17 $ (0.14 ) $ 0.36 $ (0.16 ) Diluted earnings (loss) per share: Continuing operations $ 0.17 $ (0.06 ) $ 0.36 $ 0.12 Discontinued operations - (0.08 ) - (0.27 ) Net income (loss) $ 0.17 $ (0.14 ) $ 0.36 $ (0.15 ) Weighted-average shares used in diluted earnings per share 181,005 178,696 182,708 181,342 The sum of the earnings per share amounts may not equal the totals due to rounding. Expand Pitney Bowes Inc. Consolidated Balance Sheets (Unaudited; in thousands) Assets June 30, 2025 December 31, 2024 Current assets: Cash and cash equivalents $ 285,177 $ 469,726 Short-term investments 15,606 16,374 Accounts and other receivables, net 155,317 159,951 Short-term finance receivables, net 506,989 535,608 Inventories 79,001 59,836 Current income taxes 1,300 10,429 Other current assets and prepayments 82,600 66,030 Total current assets 1,125,990 1,317,954 Property, plant and equipment, net 193,264 218,657 Rental property and equipment, net 23,004 24,587 Long-term finance receivables, net 638,625 610,316 Goodwill 748,530 721,003 Intangible assets, net 16,767 15,780 Operating lease assets 113,136 113,357 Noncurrent income taxes 103,767 99,773 Other assets 275,755 276,089 Total assets $ 3,238,838 $ 3,397,516 Liabilities and stockholders' deficit Current liabilities: Accounts payable and accrued liabilities $ 742,804 $ 873,626 Customer deposits at Pitney Bowes Bank 608,937 645,860 Current operating lease liabilities 27,276 26,912 Current portion of long-term debt 15,150 53,250 Advance billings 76,231 70,131 Current income taxes 18,508 2,948 Total current liabilities 1,488,906 1,672,727 Long-term debt 1,881,565 1,866,458 Deferred taxes on income 41,063 49,187 Tax uncertainties and other income tax liabilities 12,538 13,770 Noncurrent operating lease liabilities 100,244 100,804 Noncurrent customer deposits at Pitney Bowes Bank 51,977 57,977 Other noncurrent liabilities 199,354 215,026 Total liabilities 3,775,647 3,975,949 Stockholders' deficit: Common stock 270,338 270,338 Retained earnings 2,669,992 2,671,868 Accumulated other comprehensive loss (764,276 ) (839,171 ) Treasury stock, at cost (2,712,863 ) (2,681,468 ) Total stockholders' deficit (536,809 ) (578,433 ) Total liabilities and stockholders' deficit $ 3,238,838 $ 3,397,516 Expand Pitney Bowes Inc. Business Segment Revenue (Unaudited; in thousands) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 % Change 2025 2024 % Change Sending Technology Solutions $ 311,716 $ 339,273 (8 %) $ 627,322 $ 686,094 (9 %) Presort Services 150,193 146,858 2 % 328,007 316,665 4 % Total reportable segments 461,909 486,131 (5 %) 955,329 1,002,759 (5 %) Other - 3,614 (100 %) - 8,255 (100 %) Total revenue, as reported 461,909 489,745 (6 %) 955,329 1,011,014 (6 %) Impact of currency on revenue (2,686 ) (551 ) Total revenue, constant currency $ 459,223 $ 489,745 (6 %) $ 954,778 $ 1,011,014 (6 %) Expand Pitney Bowes Inc. Adjusted Segment EBIT & EBITDA (Unaudited; in thousands) Three Months Ended June 30, 2025 2024 % change Adjusted Segment EBIT (1) D&A Adjusted Segment EBITDA Adjusted Segment EBIT (1) D&A Adjusted Segment EBITDA Adjusted Segment EBIT Adjusted Segment EBITDA Sending Technology Solutions $ 101,255 $ 11,731 $ 112,986 $ 96,023 $ 11,524 $ 107,547 5 % 5 % Presort Services 35,940 9,139 45,079 27,048 8,955 36,003 33 % 25 % Total reportable segments $ 137,195 $ 20,870 158,065 $ 123,071 $ 20,479 143,550 11 % 10 % Reconciliation of Adjusted Segment EBITDA to income or loss from continuing operations before taxes: Other operations (2) - (4,121 ) Depreciation and amortization - reportable segments (20,870 ) (20,479 ) Interest expense, net (37,499 ) (44,218 ) Corporate expenses (34,902 ) (44,293 ) Restructuring charges (13,806 ) (30,399 ) Foreign currency (loss) gain on intercompany loans (17,029 ) 712 Transaction and Strategic review costs (1,266 ) (8,606 ) Benefit in connection with Ecommerce Restructuring 6,296 - Gain on debt redemption/refinancing 282 - Income (loss) from continuing operations before taxes $ 39,271 $ (7,854 ) Six Months Ended June 30, 2025 2024 % change Adjusted Segment EBIT (1) D&A Adjusted Segment EBITDA Adjusted Segment EBIT (1) D&A Adjusted Segment EBITDA Adjusted Segment EBIT Adjusted Segment EBITDA Sending Technology Solutions $ 198,282 $ 23,412 $ 221,694 $ 191,937 $ 23,429 $ 215,366 3 % 3 % Presort Services 90,719 18,408 109,127 67,377 17,713 85,090 35 % 28 % Total reportable segments $ 289,001 $ 41,820 330,821 $ 259,314 $ 41,142 300,456 11 % 10 % Reconciliation of Adjusted Segment EBITDA to income or loss from continuing operations before taxes: Other operations (2) - (4,831 ) Depreciation and amortization - reportable segments (41,820 ) (41,142 ) Interest expense, net (75,384 ) (88,127 ) Corporate expenses (67,019 ) (86,495 ) Restructuring charges (15,206 ) (34,165 ) Foreign currency (loss) gain on intercompany loans (24,624 ) 5,350 Transaction and Strategic review costs (3,156 ) (11,296 ) Benefit in connection with Ecommerce Restructuring 6,755 - Loss on debt redemption/refinancing (24,364 ) - Income from continuing operations before taxes $ 86,003 $ 39,750 Expand (1) Adjusted segment EBIT excludes interest, taxes, general corporate expenses, restructuring charges, foreign currency gains and losses from the revaluation of intercompany loans and other items that are not allocated to a business segment. (2) Other operations includes the revenue and related expenses of our former Global Ecommerce business that did not qualify for discontinued operations treatment. Expand Pitney Bowes Inc. Reconciliation of Reported Consolidated Results to Adjusted Results (Unaudited; in thousands, except per share amounts) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Reconciliation of reported net income (loss) to adjusted EBIT and adjusted EBITDA Net income (loss) $ 29,975 $ (24,867 ) $ 65,397 $ (27,752 ) Loss from discontinued operations, net of tax - 14,742 - 49,731 Provision for income taxes 9,296 2,271 20,606 17,771 Income (loss) from continuing operations before taxes 39,271 (7,854 ) 86,003 39,750 Restructuring charges 13,806 30,399 15,206 34,165 Foreign currency loss (gain) on intercompany loans 17,029 (712 ) 24,624 (5,350 ) Transaction and Strategic review costs 1,266 8,606 3,156 11,296 Benefit in connection with Ecommerce Restructuring (6,296 ) - (6,755 ) - (Gain) loss on debt redemption/refinancing (282 ) - 24,364 - Adjusted net income before tax 64,794 30,439 146,598 79,861 Interest, net 37,499 44,218 75,384 88,127 Adjusted EBIT 102,293 74,657 221,982 167,988 Depreciation and amortization 28,762 28,483 57,086 57,332 Adjusted EBITDA $ 131,055 $ 103,140 $ 279,068 $ 225,320 Reconciliation of reported diluted earnings (loss) per share to adjusted diluted earnings per share Diluted earnings (loss) per share $ 0.17 $ (0.14 ) $ 0.36 $ (0.15 ) Loss from discontinued operations, net of tax - 0.08 - 0.27 Restructuring charges 0.06 0.13 0.06 0.15 Foreign currency loss (gain) on intercompany loans 0.07 - 0.10 (0.02 ) Transaction and Strategic review costs 0.01 0.04 0.01 0.05 Benefit in connection with Ecommerce Restructuring (0.03 ) - (0.03 ) Loss on debt redemption/refinancing - - 0.10 Adjusted diluted earnings per share $ 0.27 $ 0.11 $ 0.61 $ 0.29 The sum of the earnings per share amounts may not equal the totals due to rounding. Reconciliation of reported net cash from operating activities to free cash flow Net cash from operating activities - continuing operations $ 111,388 $ 79,910 $ 94,709 $ 78,895 Capital expenditures (13,343 ) (16,466 ) (30,230 ) (30,783 ) Restructuring payments 8,412 11,708 21,518 26,697 Free cash flow $ 106,457 $ 75,152 $ 85,997 $ 74,809 Expand
Business Wire
18-06-2025
- Business
- Business Wire
Ancora Issues Statement of Support for Pitney Bowes
CLEVELAND--(BUSINESS WIRE)--Ancora Holdings Group, LLC (together with its affiliates, 'Ancora' or 'we') today issued the below statement following its decision to redeem its investment in the long-term special purpose vehicle managed by Hestia Capital Management LLC and, in turn, start directly holding its shares of Pitney Bowes Inc. (NYSE: PBI) ('Pitney Bowes' or the 'Company') due to the size of the position. Fredrick D. DiSanto, Chairman and Chief Executive Officer of Ancora Holdings Group LLC, and James Chadwick, President of Ancora Alternatives LLC, commented: 'We originally invested in Kurt Wolf's special purpose vehicle because we believed Kurt could be a catalyst of significant value creation at Pitney Bowes. More than two years later, Kurt has clearly been the driving force behind the Company's cost reductions, cash repatriation initiatives, debt reduction and the necessary divestiture of the Global Ecommerce unit. The excellent results speak for themselves. We look forward to remaining long term investors in Pitney Bowes and believe shareholders are well served by Kurt Wolf as the Company's Chief Executive Officer.' About Ancora Founded in 2003, Ancora Holdings Group, LLC offers integrated investment advisory, wealth management, retirement plan services and insurance solutions to individuals and institutions across the United States. The firm is a long-term supporter of union labor and has a history of working with union groups and public pension plans to deliver long-term value. Ancora's comprehensive service offering is complemented by a dedicated team that has the breadth of expertise and operational structure of a global institution, with the responsiveness and flexibility of a boutique firm. Ancora Alternatives is the alternative asset management division of Ancora Holdings Group, investing across three primary strategies: activism, multi-strategy and commodities. For more information about Ancora Alternatives, please visit
Yahoo
22-05-2025
- Business
- Yahoo
Why Pitney Bowes (PBI) Stock Is Up Today
Shares of shipping and mailing solutions provider Pitney Bowes (NYSE:PBI) jumped 9.9% in the afternoon session after the company appointed sitting director Kurt Wolf as its Chief Executive Officer. It also announced a $150 million share buyback program, given its strong cash flow outlook, and was exploring ways to raise its dividends. Management also provided some color on the strength of the balance sheet noting that the business was on track to achieve its 3.0x adjusted leverage ratio target by the end of the second quarter, a quarter sooner than previously announced and without needing to retire additional debt. As a reminder, a stock buyback reduces the number of outstanding shares, ensuring that more profits accrue to existing shareholders. Is now the time to buy Pitney Bowes? Access our full analysis report here, it's free. Pitney Bowes's shares are very volatile and have had 20 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business. Pitney Bowes is up 37.6% since the beginning of the year, and at $9.94 per share, it is trading close to its 52-week high of $10.86 from February 2025. Investors who bought $1,000 worth of Pitney Bowes's shares 5 years ago would now be looking at an investment worth $4,246. Today's young investors likely haven't read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
22-05-2025
- Automotive
- CNBC
Stocks making the biggest moves midday: Urban Outfitters, Advance Auto Parts, Snowflake, Sunrun and more
Check out the companies making headlines in midday trading. Advance Auto Parts — Shares skyrocketed 55% following a better-than-expected report from the car part retailer. The company lost an adjusted 22 cents per share in the third quarter, narrower than the loss of 82 cents per share anticipated by analysts polled by LSEG. Revenue came in at $2.58 billion, ahead of Wall Street's $2.50 billion forecast. Health insurance stocks — Shares fell after the Centers for Medicare & Medicaid Services announced an aggressive expansion of Medicare Advantage audits. Humana dropped more than 4.9%, while CVS Health lost more than 1%. UnitedHealth ticked 0.2% lower. Urban Outfitters — The retailer surged 22% on a stronger-than-expected earnings report for the first quarter. Urban earned $1.16 per share on revenue at $1.33 billion. Analysts surveyed by LSEG penciled in earnings per share of 84 cents and $1.29 billion in revenue. Snowflake — The data storage stock rallied 11.4% after first-quarter earnings surpassed Wall Street's predictions. Snowflake earned 24 cents, excluding items, on $1.04 billion in revenue. Analysts anticipated 21 cents in earnings per share and $1.01 billion in revenue. Sunrun — The solar stock sank nearly 40%, one of many in the sector to sell off after the House Republican tax bill appeared to be worse for green energy work than initially feared. SolarEdge and Enphase plunged more than 21% and 18%, respectively. Array Technologies slid more than 8next%, while Nextracker and First Solar both fell more than 4%. Analog Devices — The semiconductor manufacturer lost 3.4% despite beating expectations for the second fiscal quarter and offering upbeat guidance. Analog Devices earned $1.85 per share, excluding items, on $2.64 billion in revenue, while analysts polled by FactSet anticipated earnings of $1.70 per share and $2.51 billion in revenue. Pitney Bowes — Shares jumped 10.2% after the shipping firm announced that sitting director Kurt Wolf was appointed CEO. Wolf is succeeding Lance Rosenzweig, who is retiring from the chief executive role but will be a consultant to the company. Seagate Technology — The data storage company gained 3.8% after the firm announced a $5 billion share repurchase plan at its investor day. The buyback program will carry through the fiscal year ending in 2028, the company said. Williams-Sonoma — Shares of the high-end home furnishings retailer dropped 5.1% due to disappointing corporate guidance, which overshadowed quarterly figures that beat expectations. Dana — The vehicle product supplier popped 3.9% on the back of an upgrade by RBC to outperform from sector perform. RBC called the company's fundamentals "misunderstood." — CNBC's Yun Li contributed reporting
