markets

Max Knoblauch6/5/25

Five Below spikes on earnings beat and Uber partnership

Discount store slash Squishmallow supercenter Five Below is riding high Thursday morning following strong earnings and a fresh partnership with Uber Eats.

Five Below reported first-quarter earnings after the bell Wednesday, posting a 7.1% jump in comparable sales (better than estimates). Revenue climbed nearly 20% to $970.5 million — also a beat — and the company issued better-than-expected current quarter guidance of between $975 million and $995 million.

Following the solid report, Uber and Five Below on Thursday morning announced a new partnership, bringing 1,500 of the discount stores onto the delivery app.

The retailer was down nearly 50% year to date in early April in light of its immense reliance on Chinese suppliers. Since then, tariffs have been dialed down, the company raised its guidance, and now, these impressive results. Shares have rallied nearly 30% year to date and 10% higher in trading on Thursday morning, while Uber was up slightly.

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Chicago Bulls Dennis Rodman (91), Scottie Pippen (33) and Michael Jordan (23) during game vs Miami Heat. Miami, FL 2/23/1996

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Max Knoblauch5h

Budget airline stocks dip as Spirit pilots ratify contract that’ll help the carrier stay afloat

Low-cost airlines JetBlue and Frontier are trading lower on Thursday following the news that Spirit Airlines pilots ratified modifications to their labor contract that will lower costs for the carrier, which filed for bankruptcy in August.

According to the Air Line Pilots Association, Spirit pilots approved a deal that included “temporary reductions to pay rates and retirement contributions.” Beginning January 1, hourly pay will be reduced 8% and retirement contributions will drop by half, from 16% to 8%.

“Spirit pilots made a difficult choice that provides the Company with what it needs from labor to secure financing and complete its restructuring,” said Captain Ryan P. Muller, chairman of the Spirit Airlines Master Executive Council.

Wall Street sees JetBlue and Frontier as the biggest beneficiaries to Spirit’s woes, and both carriers have attempted to purchase Spirit in recent years.

markets

Matt Phillips5h

Planet Labs rips on strong earnings report

Satellite services company Planet Labs was on track for a new record closing high after rising more than 35% in early afternoon trading on Thursday.

The roughly $5 billion company posted better-than-expected quarterly results and guided toward higher-than-expected sales for the current quarter after the close of trading Wednesday.

“AI continues to be a major tailwind as the company is seeing significant demand through enhanced capabilities for its advanced satellite data solutions,” wrote Wedbush Securities tech analyst Dan Ives, adding, “We continue to believe the PL is well-positioned at the intersection of Space and AI.” He has an “outperform” — basically a “buy” — rating and a price target of $20 on the stock.

Other satellite services AST SpaceMobile and Rocket Lab also enjoyed a bump on Thursday, seemingly riding the momentum of Planet Labs’ numbers.

Planet Labs Stock Soars After Earnings Report. Why Shares Are Headed to the Moon.

Planet Labs Stock Soars After Earnings Report. Why Shares Are Headed to the Moon.

“AI continues to be a major tailwind as the company is seeing significant demand through enhanced capabilities for its advanced satellite data solutions,” wrote Wedbush Securities tech analyst Dan Ives, adding, “We continue to believe the PL is well-positioned at the intersection of Space and AI.” He has an “outperform” — basically a “buy” — rating and a price target of $20 on the stock.

Other satellite services AST SpaceMobile and Rocket Lab also enjoyed a bump on Thursday, seemingly riding the momentum of Planet Labs’ numbers.

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