HP, Salesforce And 3 Stocks To Watch Heading Into Wednesday
Portfolio Pulse from Lisa Levin
Patterson Companies, HP Inc., Salesforce, Ambarella, and Brown-Forman Corporation are the stocks to watch heading into Wednesday. Patterson Companies and Brown-Forman Corporation are expected to post earnings before the opening bell. HP Inc. reported in-line earnings for Q3 but lowered its full-year forecast. Salesforce is expected to release its earnings after the market closes. Ambarella posted upbeat Q2 earnings and sales but issued a weak sales outlook for the current quarter.
August 30, 2023 | 8:07 am
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POSITIVE IMPACT
Brown-Forman Corporation is expected to report quarterly earnings at 53 cents per share on revenue of $1.05 billion. Its shares gained 2.4% to $70.70 in after-hours trading.
The expected earnings report and the increase in share price in after-hours trading indicate a positive short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Salesforce is expected to have earned $1.76 per share on revenue of $7.90 billion for the latest quarter. Its shares gained 0.5% to $213.02 in after-hours trading.
The expected earnings report and the slight increase in share price in after-hours trading indicate a positive short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Patterson Companies is expected to post quarterly earnings at 40 cents per share on revenue of $1.58 billion. Its shares gained 4.7% to $34.90 in after-hours trading.
The expected earnings report and the increase in share price in after-hours trading indicate a positive short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Ambarella posted upbeat earnings and sales results for its second quarter, but issued a weak sales outlook for the current quarter. Its shares tumbled 16.4% to $63.35 in the after-hours trading session.
Despite the upbeat Q2 earnings, the weak sales outlook for the current quarter and the significant drop in share price in after-hours trading indicate a negative short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
HP Inc. reported in-line earnings for its third quarter, but lowered its earnings forecast for the full year. Its shares dipped 10.7% to $28.00 in the after-hours trading session.
The lowered earnings forecast for the full year and the dip in share price in after-hours trading indicate a negative short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100