Streetbeat News

Earnings

FSR

Fisker Inc (NYSE:FSR) reported lower-than-expected Q2 2023 vehicle production volumes due to supply shortages, producing 1,022 Fisker Ocean SUVs instead of the targeted 1,400-1,700. However, the company surpassed its targeted assembly rate of 80 units daily and expects production to exceed 1,400 in early July. Fisker plans to boost battery pack capacity to protect the manufacturing timeline and reach higher volumes next year. FSR shares are trading higher by 6.1%.

Portfolio Pulse from Lekha Gupta

July 07, 2023 | 5:41 pm

LEVI

Levi Strauss & Co. (NYSE:LEVI) shares are trading lower after the company reported a Q2 margin decline and issued soft 2023 EPS guidance. The company reported a 9% decrease in net revenues, with wholesale net revenues decreasing by 22%. Adjusted diluted EPS is now projected between $1.10 to $1.20, down from $1.30 to $1.40. The stock is moving lower on high volume, with over 8.8 million shares traded compared to the 100-day average of 2.5 million shares.

Portfolio Pulse from Erica Kollmann

July 07, 2023 | 4:35 pm

BECN

Beacon Roofing Supply Inc (NASDAQ:BECN) has provided preliminary results for Q2 2023 and revised its 2023 outlook. The company plans to buy back 400,000 Series A Preferred shares from CD&R for $804.5 million, with the transaction expected to close by August 11, 2023. Q2 net sales are expected to be around $2.5 billion, with gross margins of about 25.4%. The company does not expect significant open market repurchases of common stock in the remainder of 2023. BECN shares are trading higher by 2.67% at $83.02.

Portfolio Pulse from Lekha Gupta

July 07, 2023 | 4:22 pm

HUM

A whale investor has taken a bullish stance on Humana (NYSE:HUM), with 50% of investors opening trades with bullish expectations and 50% with bearish. The whale has been targeting a price range from $385.0 to $465.0 for Humana over the last 3 months. The price of HUM is currently down -1.38% at $434.9. RSI indicators suggest that the stock may be oversold. Humana's next earnings are expected to be released in 26 days.

Portfolio Pulse from Benzinga Insights

July 07, 2023 | 4:17 pm

AUID

GRRR

IMBI

LEVI

NIR

PWM

U.S. stocks traded mixed with the Dow down 0.09% and NASDAQ up 0.47%. The U.S. economy added 209,000 jobs in June, below the expected 225,000. Energy shares rose by 1.2% while consumer staples fell by 0.6%. Prestige Wealth Inc. (PWM), Gorilla Technology Group Inc. (GRRR), and Near Intelligence, Inc. (NIR) saw significant stock increases. iMedia Brands, Inc. (IMBI), Levi Strauss & Co. (LEVI), and authID Inc. (AUID) experienced stock decreases.

Portfolio Pulse from Lisa Levin

July 07, 2023 | 4:05 pm

JD

A whale investor has taken a bullish stance on JD.com (NASDAQ:JD), with 54% of investors opening trades with bullish expectations and 45% with bearish. The whale has been targeting a price range from $25.0 to $45.0 for JD.com over the last 3 months. The price of JD is currently up 3.67% at $35.33. The next earnings are expected to be released in 46 days.

Portfolio Pulse from Benzinga Insights

July 07, 2023 | 3:50 pm

CVNA

Carvana Company (NYSE:CVNA) shares are trading over 10% higher on Friday. The company announced it will report its Q2 financial results after the market close on August 3. CVNA has a high short interest with 68.52% of available shares currently being sold short. The shares are trading 10.9% higher at $26.98 at the time of publication.

Portfolio Pulse from Erica Kollmann

July 07, 2023 | 3:24 pm

VMI

Valmont Industries Inc (NYSE:VMI) has agreed to acquire HR Products, an Australian irrigation parts supplier, for an undisclosed sum. The acquisition will expand Valmont's geographic footprint and grow its parts presence in a key agriculture market. The deal is expected to be immediately accretive to earnings, with Year 1 revenue of about $45 million. The transaction is expected to close in Q3 2023.

Portfolio Pulse from Shivani Kumaresan

July 07, 2023 | 2:53 pm

FSI

MOS

MT

TECK

ZEUS

Benzinga Insights has identified several value stocks in the basic materials sector, including Mosaic (MOS), Olympic Steel (ZEUS), Teck Resources (TECK), Flexible Solutions Intl (FSI), and ArcelorMittal (MT). These companies have low P/E multiples, indicating they may be undervalued. Recent earnings per share and dividend yields for these companies have also been reported.

Portfolio Pulse from Benzinga Insights

July 07, 2023 | 2:48 pm

KALV

KalVista Pharmaceuticals' shares are trading higher following the company's release of better-than-expected Q4 earnings per share (EPS).

Portfolio Pulse from Benzinga Newsdesk

July 07, 2023 | 2:38 pm