Stocks In News: CROX, NVIV, LCID
2:01 pm Thursday, August 04th, 2022
On paper, popular casual footwear manufacturer Crocs (NASDAQ:CROX) presented a very positive picture for the consumer economy, delivering an earnings and revenue beat for the second quarter of 2022. However, management guided down expectations for the full year, inciting a significant selloff in CROX stock as well as chatter on social media. Primarily, the concerns focus on the viability of the Crocs brand amid rising economic pressures. Getting into the core figures, the footwear specialist delivered adjusted earning per share of $3.24, exceeding the consensus EPS target of $2.67. The latest print was also up substantially from the year-ago quarter’s EPS of $2.23. On the revenue front, Crocs rang up $964.6 million against expectations calling for $943.6 million. In Q2 2021, the sales tally was $640.8 million.
InVivo Therapeutics (NASDAQ:NVIV) stock is rocketing higher on Thursday despite a lack of news concerning the clinical-stage biomaterials and biotechnology company. So what has NVIV stock on the rise today? It looks like investor speculation is behind the surge in price for NVIV shares. This has them experiencing incredible volatility on Thursday that’s resulted in trading being halted five times as of this writing.
Shares of Lucid (NASDAQ:LCID) stock are falling by more than 10% after the company reported Q2 earnings below expectations. The electric vehicle (EV) company reported that it had delivered 679 vehicles during the quarter, up from 360 deliveries during Q1. Meanwhile, revenue tallied in at $97.3 million, falling below the consensus estimate of $145.49 million. Making matters worse, the revenue figure was also below the low analyst estimate of $118.47 million.
