Key Stock Gainers: AKTR, ANGI, MAXN
3:52 pm Saturday, January 08th, 2022
Atkore International (ATKR) shares soared as much as 12% after the firm raised its FY22 forecast and reported higher Q1 earnings. FY22 net sales are expected to be up mid-single digit percentages compared to FY21. ATKR raised its outlook for FY22 adj. EBITDA to $875M-925M and adj. EPS to $12.80-13.60. In a post-earnings call, ATKR forecast Q2 net sales growth of ~25%, adj. EBITDA of $240M–260M and adj. EPS of $3.55–3.85 (vs. $2.79 in the year-ago period).
Angi (NASDAQ:ANGI) is up 8.9% alongside the news that it’s teaming up with Walmart (WMT) to offer its professional services through stores and online. Walmart shoppers will be able to procure service for more than 150 common home projects, they say, covering such things as flooring, painting, plumbing, electrical, tv mounting, installation and furniture assembly. The purchase will work like any other in store or Walmart.com, with Angi engaging after the purchase to coordinate bookings.
Maxeon Solar Technologies (MAXN) opens higher after unveiling an expanded sales initiative in the U.S. commercial and industrial solar market, in which it will sell Maxeon-branded IBC solar panels together with a Performance Assurance product from Omnidian. Omnidian will bundle one year of its Shield Plan with commercial systems larger than 250 kw sold by Maxeon. As part of the collaboration, Omnidian will facilitate access for Maxeon to Omnidian’s existing U.S. customer base to quickly expand Maxeon’s C&I market footprint.
