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Shares of e.l.f. Beauty (ELF) tumbled on Friday after the cosmetics and beauty products maker gave a weaker-than-expected outlook after posting a monster quarter.

E.l.f. sees full-year adjusted earnings per share (EPS) of $3.36 to $3.41, and revenue in the range of $1.28 billion to $1.30 billion. While those were higher than the company’s previous guidance, analysts had been looking for better.

The news offset e.l.f.’s blowout fiscal 2025 first-quarter results. Adjusted EPS came in at $1.10, 25 cents more than the average forecast of analysts surveyed by Visible Alpha. Revenue soared 50% to $324.5 million, also well above estimates.

The company said the jump in revenue was powered by strong retail and e-commerce channels which gained 43% and 105%, respectively. Gross profit was boosted by higher prices and volumes.

CEO Tarang Amin noted that this was the company’s 22nd consecutive quarter of both net sales growth and market share gains. He said that puts e.l.f. “in a rarified group of high growth consumer companies.” 

E.l.f. Beauty shares fell more than 14% on Friday. Despite that loss, the stock remains nearly 12% higher for 2024.

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The General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye, has said women who wear makeup, especially during their weddings, do not believe God did a perfect job on them.

Speaking at the Redemption City, Mowe, Ogun State, Adeboye said: “When you marry, you cut your coat according to your clothes. Some of you want to be like the people of the world. I can’t even imagine some of the things I see now. It wasn’t so in the beginning.

People spend hundreds of thousands of naira on ‘shoot out’ (photo shoot). And then, on the day of the wedding, the girl put on all manner of decorations. Those who do makeup are those who do not believe God did a good job.

When God created you, He did a great job, you are wonderful, perfectly made, and you cannot find any other fellow like you. You are special.

When you begin to paint, and you think you can improve on what God has already done, you are a f%%l. You can never improve on what God has done.”

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Rocket Lab USA (RKLB) shares popped Friday, a day after the company posted record revenue and a narrowing of its second-quarter loss.

The aerospace company reported revenue of $106.3 million, up 71% year-over-year and ahead of estimates from analysts polled by Visible Alpha. Its second-quarter net loss also beat forecasts, narrowing to $41.6 million from $45.9 million last year.

"This 71% year-on-year revenue increase demonstrates the strong and growing demand for our launch services and space systems products, and importantly, our team's ability to execute against it," Chief Executive Officer (CEO) Peter Beck said. 

Rocket Lab is projecting third-quarter revenue between $100 million and $105 million. Analysts polled by Visible Alpha expect $102.8 million.

Meanwhile, Rocket Lab announced that it successfully hot fired its Archimedes engine, which will be used in the company's medium-lift rocket, Neutron.

Shares of Rocket Lab surged 12% to $5.35 as of 12:50 p.m. ET but are still down around 3% this year.

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The Dow, S&P 500, and Nasdaq were little changed at midday Friday, heading to the close of a volatile week for markets that began with a global sell-off.

Akamai Technologies (AKAM) was the best-performing stock in the S&P 500 after the tech firm beat profit and sales estimates and raised its earnings guidance as it saw higher demand for its security and cloud computing offerings.

Shares of Take-Two Interactive Software (TTWO) gained after the video game maker also posted better-than-expected results and gave an upbeat outlook as net bookings rose.

Sweetgreen (SG) shares soared after the salad restaurant chain cut its losses, exceeded revenue forecasts, and raised its guidance as it added locations.

Intel (INTC) shares dropped as the chipmaker reportedly canceled an event scheduled for September after reporting wider-than-expected losses and announcing layoffs.

Shares of Insulet (PODD) slumped as the manufacturer of the Omnipod insulin delivery system missed earnings estimates amid concerns about the number of new products reaching the market.

Mondelez International (MDLZ) shares dropped as the snack food maker missed revenue estimates as consumers turned to lower-priced brands.

Oil and gold futures advanced. The yield on the 10-year Treasury note fell. The U.S. dollar lost ground to the euro, pound, and yen. Prices for most major cryptocurrencies were higher.

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Muslim faithfuls across Kano State on Saturday, August 10, observed the national special prayer and Qur’anic recitation against hardship and hunger in the country.

Daily Trust reports that the session was observed at decentralized locations across the state.

📷: @daily_trust

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