Double-Digit Rise in Sonos (SONO) And Victoria’s Secret Parent L Brands (LB) Stocks On Thursday – Invest Chronicle
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Double-Digit Rise in Sonos (SONO) And Victoria’s Secret Parent L Brands (LB) Stocks On Thursday

Sonos Inc (SONO) soared 29.84 percent after the Californian maker of wireless audio speakers posted performance well above estimates for its fourth fiscal year which ended at the end of September. Compared with the $299 million predicted by the FactSet consensus, revenue jumped 15.5 percent year-on-year to $339.8 million. Compared to a $29.6 million loss a year ago, the Santa Barbara-based corporation reported a net income of $18.4 million. Its per-share net income was 15 cents, compared to just 2 cents predicted by analysts and -28 cents a year earlier. Sonos expects revenue of $1.44 to $1.5 billion for the start of the year, up from a consensus of $1.28 billion.

L Brands Inc (LB) went up 17.67 percent on Thursday. The parent company of Victoria’s Secret has opened a new investigation into its founder, Les Wexner, and its alleged ties with Jeffrey Epstein. In a slightly different vein, thanks to record sales growth at Bath and Body Works and the demand for lingerie brand Victoria’s Secret, the company posted better-than-expected quarterly results on Thursday.


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Macy’s Inc (M) was up 2.11 percent on Thursday as the U.S. store chain posted a net loss of $91 million or 29 cents per share for the third quarter, compared to a net profit of $2 million for the same period last year. On adjustment basis, per share loss was 19 cents. Revenues, driven by solid growth in digital revenues, totaled $3.9 billion.

The graphics processor giant, Nvidia Corporation (NVDA) was up 0.09 percent which did not really respond to its strong results the previous day. This year the stock has already taken nearly 130 percent. Nvidia posted sales of $4.73 billion for its third quarter on Wednesday evening, a rise of 57 percent compared to a forecast of $4.4 billion. Earnings per share were $2.91 from a consensus of $2.57, up 63 percent. Revenue from the data centre soared to $1.9 billion, possibly with an order from Huawei. The results were also assisted by the integration of Mellanox. The quarterly forecast indicates sales of nearly $4.8 billion, plus or minus 2%.

AstraZeneca Plc (AZN) was up 0.07% on Wall Street, but down 2.6 percent in London, responding little to its coronavirus vaccine candidate’s positive Phase II findings.

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