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Hewlett Packard Enterprise Surges, Victoria's Secret Soars, Shake Shack Falls to 2023 Level on Cut 2Q
Description
On this episode of Stock Movers:
-Hewlett Packard Enterprise (HPE) shares surge. The company gave an outlook for annual sales that topped Wall Street’s estimates, citing massive growth in AI-fueled demand for its servers and networking. Revenue will increase about 31% in the fiscal year ending in October, and about 10% in the year ending in October 2027, the company said, which are significantly higher than analyst growth expectations.
-Victoria's Secret (VSXY) shares soared after the company beat earnings estimates and boosted its outlook, adding to signs of progress for Chief Executive Officer Hillary Super’s turnaround plan.
-Shake Shack (SHAK) shares fall. The burger company lowered its guidance for the second quarter about a month after first providing ranges for the period. Management cited “macroeconomic uncertainty,” as well as the “competitive landscape” for its reduced view.
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