The Afterhours: Levi Strauss cuts its guidance; SEC sues Elon Musk – Proactive Investors USA
Levi Strauss & Co (NYSE:LEVI) shares fell 1.6% in extended trading Thursday after the iconic denim apparel company slashed its full-year sales forecast and fell short of quarterly revenue expectations.
The company posted revenue of $1.51 billion, down slightly from $1.52 billion a year ago and below the $1.54 billion expected by analysts. Adjusted earnings were $0.28 per share, compared to $0.40 last year and Street expectations of $0.27.
Looking ahead, Levi said it now expects full-year revenue to be flat to up 1% year-over-year, down from its previous guidance of 1.5% to 2.5% growth.
Meanwhile, the US Securities and Exchange Commission has sued Elon Musk in order to compel him to give testimony regarding his purchase of Twitter Inc (NYSE:TWTR) last year, according to a complaint filed Thursday in the Northern District of California.
Attorneys for the SEC alleged that Musk failed to appear for testimony on September 15 as required by a subpoena, which the attorneys said was…
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source: https://news.oneseocompany.com/2023/10/05/the-afterhours-levi-strauss-cuts-its-guidance-sec-sues-elon-musk-proactive-investors-usa_2023100551003.html
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