Core Viewpoint - Ferrari's cautious earnings outlook has disappointed investors, overshadowing the launch of its first electric vehicle, leading to a significant drop in the company's stock price, marking the largest single-day decline in nine years [1] Group 1: Earnings Outlook - Ferrari expects adjusted profits to grow from €2.72 billion this year to at least €3.6 billion (approximately $4.2 billion) by 2030, indicating a slower growth rate than previously anticipated by management three years ago [1] - The company has slightly raised its revenue forecast for this year, expecting net revenue to reach or exceed €7.1 billion, up from the previous guidance of "at least €7 billion" [2] - Adjusted EBITDA expectations have been increased by 1.5% to "at least €2.68 billion," but the projected EBITDA margin for 2030 is expected to exceed 40%, lower than the analysts' average expectation of 42% [2] Group 2: Market Reactions - Following the earnings outlook announcement, Ferrari's stock price fell by as much as 16%, the largest single-day drop since its Milan listing in January 2016, with a pre-market decline exceeding 12% in the U.S. [1] - Analysts had high expectations prior to the investor day, with some anticipating a downward adjustment in electric vehicle targets to drive significant profit growth [1] Group 3: Electric Vehicle Strategy - Ferrari has announced a reduction in its electric vehicle production plans, projecting that pure electric models will account for about 20% of its product lineup by 2030, down from the initial target of 40% set in 2022 [2] - The company is facing challenges in the electric transition, similar to other luxury car manufacturers, as affluent consumers remain hesitant to switch to plug-in electric vehicles [3] - Ferrari is also struggling to regain momentum in the Chinese market, where sales have stagnated [3]

Core Viewpoint - Ferrari NV shares experienced a significant decline after the company issued cautious forecasts regarding future earnings, disappointing investors despite the launch of its first electric vehicle [1][2]. Financial Outlook - Adjusted earnings are projected to rise to at least €3.6 billion ($4.2 billion) by 2030, up from €2.72 billion this year, indicating a slower growth rate compared to previous forecasts made three years ago [1]. - The company has raised its net revenue guidance for this year to equal or exceed €7.1 billion, an increase from the prior guidance of €7 billion or more [5]. - Adjusted EBITDA for this year has been increased by 1.5% to at least €2.68 billion [5]. - For 2030, Ferrari's adjusted EBITDA margin is expected to be over 40%, which is below analysts' average estimate of 42% [5]. Market Reaction - Ferrari's stock fell as much as 16%, marking the steepest drop since its listing in Milan in January 2016, and is currently down about 12% for the year [2]. - Trading of Ferrari shares was temporarily halted due to volatility following the announcement [2]. Analyst Expectations - Analysts had high expectations leading into the investor day, with the highest proportion of buy ratings in five years [3]. - Some analysts anticipated that a potential lowering of electric vehicle targets would enhance Ferrari's earnings, expecting ambitious mid-term targets to be unveiled [4]. - The company's projections were viewed as underwhelming compared to high expectations, with targeted free cash of about €8 billion over five years seen as low against an expectation of €9 billion [6].

Summary of Key Points Core Viewpoint - U.S. stock futures are slightly lower, with Nasdaq futures down approximately 0.1% on Thursday, indicating a cautious market sentiment [1]. Company-Specific Summaries Helen of Troy Ltd (NASDAQ:HELE) - Helen of Troy reported quarterly earnings of 59 cents per share, surpassing the analyst consensus estimate of 53 cents per share [1]. - The company achieved quarterly sales of $431.781 million, exceeding the analyst consensus estimate of $418.806 million [1]. - For FY2026, Helen of Troy projects adjusted EPS between $3.75 and $4.25, which is below market estimates of $4.58 [1]. - The company anticipates sales in the range of $1.739 billion to $1.780 billion, compared to market estimates of $1.750 billion [1]. - Shares of Helen of Troy fell 16.7% to $23.00 in pre-market trading following the earnings report [2]. Ferrari NV (NYSE:RACE) - Ferrari's shares decreased by 12.4% to $420.00 in pre-market trading after the release of its comprehensive 2030 strategic plan and updated near-term financial guidance [4]. Apogee Therapeutics, Inc. (NASDAQ:APGE) - Apogee Therapeutics' stock tumbled 9.6% to $42.70 in pre-market trading after announcing a $300 million underwritten public offering [4]. AZZ Inc (NYSE:AZZ) - AZZ Inc's shares declined by 9.4% to $96.01 in pre-market trading following weak second-quarter results [4]. Plug Power Inc. (NASDAQ:PLUG) - Plug Power's stock fell 7.8% to $3.37 in pre-market trading after a decline of more than 5% on Wednesday, despite raising $370 million from the immediate exercise of 185.4 million warrants at $2 per share [4]. Other Notable Stocks - Inventiva (NYSE:IVA) shares fell 6.3% to $5.02 in pre-market trading [4]. - NextNRG Inc (NASDAQ:NXXT) saw a decline of 5.8% to $2.59 in pre-market trading [4].

Group 1: Helen of Troy Ltd - Helen of Troy reported quarterly earnings of 59 cents per share, beating the analyst consensus estimate of 53 cents per share [1] - The company reported quarterly sales of $431.781 million, exceeding the analyst consensus estimate of $418.806 million [1] - For FY2026, Helen of Troy expects adjusted EPS of $3.75-$4.25, lower than market estimates of $4.58, and sales of $1.739 billion-$1.780 billion, compared to market estimates of $1.750 billion [1] Group 2: Stock Movements - Helen of Troy shares fell 16.7% to $23.00 in pre-market trading following the earnings report [2] - Ferrari NV shares decreased by 12.4% to $420.00 after releasing its 2030 strategic plan and updated financial guidance [4] - Apogee Therapeutics, Inc. shares tumbled 9.6% to $42.70 after announcing a $300 million public offering [4] - AZZ Inc shares declined 9.4% to $96.01 following weak second-quarter results [4] - Plug Power Inc shares fell 7.8% to $3.37 after raising $370 million from the exercise of warrants [4] - Inventiva shares decreased by 6.3% to $5.02 in pre-market trading [4] - NextNRG Inc shares fell 5.8% to $2.59 in pre-market trading [4]

Ferrari, the premium sports-car maker with an equally expensive valuation, saw its worst day ever after a capital-market day presentation. ...

Luxury sports carmaker Ferrari NV scaled back its electrification ambitions on Thursday while offering a first look at the technology underpinning its debut electric vehicle, "Elettrica.†The move, re... ...

Ferrari N.V. (NYSE:RACE) updated its long-term financial targets as part of its Capital Markets Day presentation on Thursday. The Italian automaker said it is aiming for strong growth and profitability through 2030. In terms of guidance, the company expects net revenue ...

Ferrari has started to lift the hood on its first fully EV, a project that promises to set a benchmark for how battery-powered sports cars should look, sound and drive https://t.co/cMBnawXK8c ...

Luxury sports-car maker Ferrari on Thursday raised its annual guidance and said it expected to reach revenue of around 9 billion euros ($10.5 billion) in 2030. ...

A worker on the production line at the new Ferrari NV E-building factory in Maranello, Italy, on Friday, June 21, 2024.Luxury carmaker Ferrari on Thursday scaled back its electrification ambitions, while offering a first glimpse of the technology that will power "elettrica," its first fully electric vehicle.The Maranello, Italy-based sports car manufacturer said at its Capital Markets Day event that it would target a 2030 sports car model line-up made up of 40% internal combustion engine (ICE) cars, 40% hyb ...