Streetbeat News

Earnings

XOM

Exxon Mobil Corp (NYSE:XOM) expects a decrease in Q2 earnings by approximately $4 billion due to lower natural gas prices and refining margins. The lower earnings may bring Exxon's net income down to around $7.5 billion. The company estimates lower Q2 earnings due to up to $2.2 billion lower earnings in the upstream division and another up to $2.2 billion decline in the energy products division. Exxon's shares are down 2.22% in the premarket session.

Portfolio Pulse from Vandana Singh

July 06, 2023 | 1:03 pm

FIS

Fidelity National Information Services (FIS) has agreed to sell a 55% stake in its Worldpay Merchant Solutions business to private equity funds managed by GTCR, valuing the business at $18.5 billion. FIS will retain a 45% stake and receive net proceeds of approximately $11.7 billion. The deal is expected to close by Q1 2024. FIS also previewed its Q2 2023 results, expecting to be above the mid-point of its revenue guidance.

Portfolio Pulse from Nabaparna Bhattacharya

July 06, 2023 | 12:55 pm

BTBT

Bit Digital, Inc. announced a 5% increase in BTC production for June 2023, driven by a higher average active hash rate. The company's treasury holdings of BTC and ETH were valued at $14.8 million and $22.7 million respectively. Bit Digital also transferred 129 BTC to its strategic partner, Auros Global Limited, for yield optimization strategies. The company had cash and cash equivalents of $18.5 million.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 12:52 pm

COTY

Coty Inc. projects its EPS growth to be in the mid-20s% CAGR for FY 23-26, and mid to high teens % CAGR for FY 26 and beyond. The company also expects its net revenues to be at the upper end of +6-8% LFL CAGR for FY23-26, and +6-8% LFL CAGR for FY26 and beyond.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 12:50 pm

NNDM

Nano Dimension Ltd. (NASDAQ:NNDM) has announced preliminary Q2/2023 revenues of $14.8 million, a 33% increase YoY, and H1/2023 revenues of $29.7 million, a 38% increase YoY. The company attributes this growth to successful business strategies, including recent acquisitions and successful integrations, and a 48% organic revenue growth since Q3/2022.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 12:45 pm

BTCY

Biotricity Inc. (NASDAQ:BTCY) has reported a strong start to its Fiscal Year 2024, with an estimated Q1-FY24 revenue growth of over 40% YoY. The company attributes this growth to recurring technology fees and customer second-device sales. The company's Biocare app has had over 10,000 downloads since its launch in January, and its second product, Biotres, is rapidly gaining traction in the industry.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 12:42 pm

ALAR

Alarum Technologies Ltd. has released preliminary guidance for Q2 2023, expecting to report its 10th consecutive record-breaking quarter with revenues projected to exceed $6.4 million. The company also projects adjusted EBITDA growth for Q2 2023 and estimates a cash balance of approximately $3.8 million as of June 30, 2023. The final results may differ and will be released by August 31, 2023.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 12:36 pm

BKE

Buckle Inc (NYSE:BKE) reported a decrease in comparable store net sales by 2.4% for the five weeks ended July 1, 2023, and a 1.8% decline in net sales for June to $108 million. Year-to-date comparable store net sales for the 22-week period ended July 1, 2023, decreased by 7.3%. Net sales for the 22-week fiscal period decreased by 6.5% to $480.2 million. BKE shares closed lower by 1.76% at $34.70 on Wednesday.

Portfolio Pulse from Shivani Kumaresan

July 06, 2023 | 12:36 pm

WULF

TeraWulf Inc. (NASDAQ:WULF) has announced its production and operations updates for June 2023. The company increased its hashrate capacity by 25% MoM to 5.5 EH/s and mined 347 BTC in June, an 8% increase over May. The total BTC mined in Q2 2023 was 909, and 1,441 BTC year to date. All self-mined BTC in June was sold, generating proceeds of approximately $9.6 million. The company also commissioned Building 2 at the Lake Mariner facility and achieved 110 MW of self-mining capacity sitewide.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 12:34 pm

PSNY

TSLA

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) shares are trading higher by around 5% after it reported strong Q2 deliveries. The company attained the highest-ever Q2 deliveries, delivering 36% Y/Y to around 15,800 vehicles, with a growth of 73% Y/Y in June. Polestar is on track to deliver 60,000-70,000 vehicles in 2023. The company also signed an agreement with Tesla, Inc. (NASDAQ:TSLA) to adopt the new North American Charging Standard (NACS).

Portfolio Pulse from Lekha Gupta

July 06, 2023 | 12:23 pm