Stocks to Watch: Oxford Industries, Mobile Infrastructure, Champions Oncology

Dow Jones09-12

By Connor Hart

Oxford Industries cut its full-year outlook after posting lower-than-expected revenue and profit in the second quarter, as inflation-weary shoppers reined in discretionary spending. The owner of Tommy Bahama and Lilly Pulitzer posted per-share earnings $2.57 a share. Revenue edged 0.1% lower and missed Wall Street analysts' expectations. For the year, the company cut its revenue outlook to between $1.51 billion and $1.54 billion. Shares fall 10%, to $75.12, in after-hours trading.

Mobile Infrastructure's board authorized a share-buyback program and the company entered into a new credit agreement. The agreement for a $40.4 million revolving credit facility will provide flexibility to fund future preferred stock redemptions in cash rather than common stock and allow it to commence the stock-repurchase plan. The company has agreed to issue 250,000 shares of common stock to the lender in connection with the revolving facility, and an additional 250,000 shares if the company draws $15 million or more under the facility. Shares rise 6.4%, to $3.84, in post-market trading.

Champions Oncology swung to a profit and posted higher revenue in its fiscal first quarter. The company, which provides end-to-end oncology solutions, posted net income of $1.3 million, compared with a loss of $2.6 million in last year's quarter. Revenue rose 12%, to $14.1 million, boosted by operational improvements and efficiencies that led to an increase in bookings-to-revenue conversion percentage. Shares rise 31%, to $5.35, in after-hours trading.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

September 11, 2024 19:55 ET (23:55 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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