Streetbeat News

Earnings

BAX

Baxter International reported lower-than-expected revenue results and issued Q3 and FY23 adjusted EPS guidance, leading to a drop in its share price.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 7:28 pm

SHOO

Telsey Advisory Group analyst Dana Telsey reiterated a Market Perform rating on Steven Madden Ltd (NASDAQ:SHOO) with a price target of $39. The company is expected to report Q2 2023 results on August 2, 2023. The analyst expects a Q2 EPS of $0.48, down from $0.63 last year, and total sales to decrease 12.5% Y/Y to $468 million. Despite volatile macro conditions, the analyst believes SHOO's wholesale channel trends can improve through the year.

Portfolio Pulse from Shivani Kumaresan

July 27, 2023 | 7:27 pm

TALK

Talkspace reported better-than-expected Q2 financial results, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 7:27 pm

ULBI

Ultralife Corporation reported better-than-expected Q2 financial results, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 7:25 pm

TEAM

A significant bullish stance has been taken on Atlassian (NASDAQ:TEAM) as evidenced by unusual options activity. The overall sentiment of these big-money traders is split between 60% bullish and 40% bearish. Whales have been targeting a price range from $140.0 to $270.0 for Atlassian over the last 3 months. The price of TEAM is currently down -3.41% at $170.63. Next earnings are expected to be released in 7 days.

Portfolio Pulse from Benzinga Insights

July 27, 2023 | 7:16 pm

CSTM

Benchmark analyst Josh Sullivan reiterated a Buy rating on Constellium SE (NYSE:CSTM), raising the price target to $24 from $19. The company recently reported Q2 results, raising FY23 EBITDA guidance due to robust aerospace sales. Demand for high-value aerospace plates and other products is driving significant EBITDA per ton in Aerospace & Transportation. However, the aluminum packaging market is still transitioning out of a destocking cycle. Net leverage is now 2.7x, down 0.3x y/y. With FCF improving and CSTM moving towards the 2.5x net leverage target, the company is likely to start exploring shareholder returns.

Portfolio Pulse from Nabaparna Bhattacharya

July 27, 2023 | 7:11 pm

F

Ford Motor Company (NYSE:F) is set to release its Q2 financial results after the market close on Thursday. Analysts expect an EPS of 55 cents on revenues of $40.38 billion. Citigroup analyst Itay Michaeli maintained a Buy rating on Ford and raised the price target from $16 to $17. However, from a technical analysis standpoint, Ford’s stock looks headed lower following the earnings print, trading in a downtrend.

Portfolio Pulse from Melanie Schaffer

July 27, 2023 | 7:11 pm

UNP

Benchmark analyst Nathan P. Martin has reiterated a Buy rating on Union Pacific Corporation (UNP), raising the price target to $264 from $230, despite the company's weaker FY23 outlook. UNP's Q2 FY23 operating revenue declined by 5% YoY to $5.96 billion, missing the consensus of $6.12 billion. The company cited softening consumer markets, inflation, one-time labor expense, and increased workforce levels as impacting factors. However, shares were up as the board announced that industry veteran Jim Vena would take over as CEO next month. The analyst lowered the 3Q EPS estimate to $2.83 from $2.97 and the full-year EPS estimate to $10.85 from $11.34.

Portfolio Pulse from Nabaparna Bhattacharya

July 27, 2023 | 7:03 pm

FI

Fiserv Inc's Q2 FY23 results exceeded expectations, leading to several analysts raising their price targets and EPS estimates. The company reported a 7% Y/Y revenue growth to $4.76 billion, beating the consensus of $4.54 billion. Adjusted EPS of $1.81 also beat the consensus of $1.79. Fiserv raised its 2023 guidance for organic revenue growth to 9% - 11% and adjusted EPS to $7.40 - $7.50. Despite the positive news, Fiserv's shares are trading lower by 3.28% at $123.13.

Portfolio Pulse from Lekha Gupta

July 27, 2023 | 7:01 pm

STX

Seagate Technology Holdings (NASDAQ:STX) reported Q4 results, with revenue and non-GAAP EPS of $1.60 billion and -$0.18, below estimates. Analysts from Credit Suisse, Wedbush, Rosenblatt, and Benchmark have maintained their ratings but lowered their price targets due to ongoing budget scrutiny and inventory digestion. However, the company's liquidity concerns have eased as it reduced its debt. Analysts expect the recovery to start in 2024.

Portfolio Pulse from Anusuya Lahiri

July 27, 2023 | 6:55 pm