Latest Stock Market News

GameStop, Rent the Runway,, and more

GameStop (GME): The retailer missed on both the top and bottom lines as sales declined amid a gaming slowdown. Third-quarter net sales of $1.19 billion were down 8.5% from a year ago, driven by a 19% drop in software sales. GameStop reported losses of $94.7 million in the third quarter, its seventh quarterly loss in a row. Inventory was $1.13 billion, compared with $1.14 billion a year ago. Shares rose as much as 4% in extended trading on Wednesday.

Rent the Runway (RENT): The company raised its full-year revenue forecast, sending shares up as much as 22% in extended trading. Rent the Runway sees revenue $293 million to $295 million, topping analyst’s estimate of $288.3 million. CEO Jennifer Hyman noted in the release that the company’s restructuring plan was ‘substantially complete’ and will focus on ‘substantially improving cash burn’ in the future. (AI): The AI software provider reported better than expected third-quarter earnings and revenue and reaffirmed its full-year revenue forecast of $255 million to $270 million. Revenue for the quarter rose 7.1% from a year ago, driven by a 26% jump in subscription sales. Shares were little-changed after hours.

The Duckhorn Portfolio (NAPA): Shares rose 3% in extended trading after the winemaker’s fiscal first-quarter net sales and profit topped expectations. Revenue for the quarter was $108.2 million, up from $104.2 million a year ago. Net income was $19.8 million, versus $21.3 million a year ago.

Duckhorn also noted its CFO Lori Beaudoin will be stepping down in the spring of 2023 after more than 13 years with the company.

Click here for the latest trending stock tickers of the Yahoo Finance platform

Click here for the latest stock market news and in-depth analysis, including events that move stocks

Read the latest financial and business news from Yahoo Finance

Download the Yahoo Finance app for Apple or Android

Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, and YouTube

Read More: GameStop, Rent the Runway,, and more

You might also like