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Kohl's Reports 4th Quarter Earnings
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Kohl’s soars after topping Q1 estimates, even as full-year outlook underwhelms

The retailer posted far better-than-expected earnings even as sales slipped.

Nia Warfield

Kohl’s shares jumped 7% in premarket trading Thursday after it beat Q1 expectations.

The legacy retailer posted a diluted loss per share of $0.13, far better than Wall Street’s forecast for a $0.25 loss and ahead of its own guidance of a $0.20 to $0.24 loss. Revenue fell 4% year over year but still beat estimates, coming in at $3.05 billion versus the expected $3.02 billion.

The results come just weeks after former CEO Ashley Buchanan was ousted, following an investigation into personal ties with a company vendor. Looking ahead, Kohl’s expects net sales to decline 5% to 7%, and sees full-year earnings landing between $0.10 and $0.60, a range that’s on the low end of Wall Street’s $0.57 forecast.

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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