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Telsey Advisory Group analyst Dana Telsey maintains G-III Apparel Group (NASDAQ:GIII) with a Market Perform and lowers the price target from $38 to $32.
Several companies reported earnings with mixed results. Ollie's Bargain Outlet surpassed expectations with adjusted earnings of $1.42 per share, driving shares up 2.1%. G-III Apparel Group missed revenue estimates, causing shares to plunge 11.5%. Palo Alto Networks fell 9.3% after reporting subscription revenues below consensus. Uber's shares rose 1.6% despite announcing a 10% workforce reduction.
G-III Apparel (NASDAQ: GIII) stock dropped after missing Q2 revenue estimates and issuing weak Q3 guidance. Key details inside.