Upstart Holdings Down 24% As Q3 Results Miss Street

Shares of Upstart Holdings, Inc. (UPST) are down 24% on Wednesday after the company announced third-quarter earnings and revenue that missed the Street estimates.

UPST is trading on the Nasdaq at $22.13, down 24.75% or $7.28 per share. It has traded between $11.93 and $72.58 in the past 52-week period.

The company reported a net loss of $40.3 million or $0.48 per share for the quarter, narrower than last year’s loss of $56.2 million or $0.69 per share.

On an adjusted basis, loss was $3.9 million or $0.05 per share, compared to the loss of $19.3 million or $0.24 per share the prior year.

Analysts on average had expected a loss of $0.02 per share, according to figures compiled by Thomson Reuters.

Revenue decreased to $134.6 million from $157.2 million the previous year. It missed the consensus estimate of $140.27 million.

Take-Two Interactive Software Climbs On Confirmation Of Grand Theft Auto Game Next Month

Take-Two Interactive Software, Inc. (TTWO) shares are gaining more than 6 percent on Wednesday morning trade after the company confirmed that it will start promoting a new Grand Theft Auto game in December. The company has scheduled its quarterly earnings today.

Currently, shares are at $145.54, up 6.77 percent from the previous close of $136.36 on a volume of 3,668,298.

Establishment Labs Holdings Falls On Wider Than Expected Q3 Loss

Establishment Labs Holdings Inc. (ESTA) shares are sliding more than 44 percent on Wednesday morning trade after the global medical technology company reported third-quarter loss wider than the prior year. On a per-share basis, the loss was wider than expected.

The quarterly loss was $29.27 million, or $1.12 per share compared to loss of $18.61 million or $0.76 per share last year. On average, 7 analysts polled by Thomson Reuters expected the company to report loss of $0.8 per share. Analysts estimates typically exclude special items.

Currently, shares are at $18.27, down 44.13 percent from the previous close of $32.70 on a volume of 1,887,225.

GAN Shares Rise On Agreement To Be Acquired By SEGA SAMMY CREATION

Shares of GAN Limited (GAN) are up 84% on Wednesday after the company announced that it has entered into a definitive Agreement and Plan of Merger with Sega Sammy Creation Inc., a wholly-owned subsidiary of Sega Sammy Holdings, Inc.

GAN is trading on the Nasdaq at $1.64, up 84.45% or $0.75 per share. It has traded between $0.83 and $2.48 in the past 52-week period.

According to the Merger Agreement, each of GAN’s issued ordinary shares will be converted into the right to receive in cash $1.97 per share representing over 120% premium to the latest closing price.

The Company stated that it will convene a special meeting of shareholders by March 31, 2024, to consider and vote to approve the merger agreement.

Upon completion of the merger, GAN will become a wholly-owned subsidiary of Sega Sammy Creation.

The company expects the merger to be finalized during the fourth quarter of 2024.

Ten-Year Note Auction Attracts Average Demand

Continuing this week’s series of announcements of the results of its long-term securities auctions, the Treasury Department on Wednesday revealed this month’s auction of $40 billion worth of ten-year notes attracted average demand.

The ten-year note auction drew a high yield of 4.519 percent and a bid-to-cover ratio of 2.45.

The Treasury sold $35 billion worth of ten-year notes last month, drawing a high yield of 4.610 percent and a bid-to-cover ratio of 2.50.

The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.

The ten previous ten-year note auctions had an average bid-to-cover ratio of 2.48.

On Tuesday, the Treasury revealed this month’s auction of $48 billion worth of three-year notes attracted modestly below average demand.

The Treasury is due to announce the results of this month’s auction of $24 billion worth of thirty-year bonds on Thursday.

The Walt Disney Co Q4 Profit Increases, beats estimates

The Walt Disney Co (DIS) revealed earnings for its fourth quarter that increased from the same period last year and beat the Street estimates.

The company’s earnings came in at $694 million, or $0.14 per share. This compares with $254 million, or $0.09 per share, in last year’s fourth quarter.

Excluding items, The Walt Disney Co reported adjusted earnings of $1.93 billion or $0.82 per share for the period.

Analysts on average had expected the company to earn $0.68 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 5.4% to $21.24 billion from $20.15 billion last year.

The Walt Disney Co earnings at a glance (GAAP) :

-Earnings (Q4): $694 Mln. vs. $254 Mln. last year.
-EPS (Q4): $0.14 vs. $0.09 last year.
-Analyst Estimate: $0.68
-Revenue (Q4): $21.24 Bln vs. $20.15 Bln last year.

FleetCor Technologies, Inc. Q3 Profit Increases, but misses estimates

FleetCor Technologies, Inc. (FLT) reported earnings for its third quarter that increased from last year but missed the Street estimates.

The company’s earnings totaled $271.50 million, or $3.64 per share. This compares with $248.89 million, or $3.29 per share, in last year’s third quarter.

Excluding items, FleetCor Technologies, Inc. reported adjusted earnings of $335.11 million or $4.49 per share for the period.

Analysts on average had expected the company to earn $4.51 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 8.7% to $970.89 million from $893.00 million last year.

FleetCor Technologies, Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $271.50 Mln. vs. $248.89 Mln. last year.
-EPS (Q3): $3.64 vs. $3.29 last year.
-Analyst Estimate: $4.51
-Revenue (Q3): $970.89 Mln vs. $893.00 Mln last year.

-Guidance:
Full year EPS guidance: $16.82 – $17.12
Full year revenue guidance: $3,774 – $3,804 Mln