Streetbeat News

Earnings

KSCP

Knightscope's shares have seen an upward trend after the company discussed its 2023 projections on the Stock Day Podcast. The company's stock symbol is KSCP.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 1:20 pm

ERIC

IBM

STX

The most accurate Wall Street analysts have recommended holding three high-dividend tech stocks: Telefonaktiebolaget LM Ericsson (ERIC), International Business Machines Corporation (IBM), and Seagate Technology Holdings (STX). ERIC has a dividend yield of 5.21%, IBM 5.06%, and STX 4.62%. Recent news for ERIC includes the closure of a review of its 2019 Iraq report disclosures. IBM recently inked a deal to purchase Apptio Inc for $4.6 billion. STX reported worse-than-expected Q3 adjusted EPS and sales results.

Portfolio Pulse from Lisa Levin

June 28, 2023 | 1:06 pm

SNX

TD Synnex Corp (SNX) reported worse-than-expected Q2 results and issued Q3 guidance below estimates. Q2 revenue declined 7.9% Y/Y to $14.06 billion, missing the consensus of $14.42 billion. Adjusted EPS was $2.43, below the consensus of $2.55. The company expects Q3 revenue of $13.5 billion-$14.5 billion, below the consensus of $14.96 billion. Following the announcement, Raymond James, Credit Suisse, and Barclays cut their price targets on SNX.

Portfolio Pulse from Lisa Levin

June 28, 2023 | 1:02 pm

WBA

Walgreens Boots Alliance Inc (NASDAQ:WBA) reported weaker-than-expected earnings for its third quarter and lowered its FY23 adjusted EPS guidance to $4.00-$4.05 from the previous $4.45 - $4.65. This led to a 9.3% fall in Walgreens shares to close at $28.64 on Tuesday. Following the earnings announcement, Deutsche Bank, Credit Suisse, Barclays, and JP Morgan all lowered their price targets on Walgreens.

Portfolio Pulse from Lisa Levin

June 28, 2023 | 12:57 pm

AVAV

AeroVironment Inc's shares are trading higher after the company reported its fiscal fourth-quarter financial results. The company's Q4 revenue increased by 40% YoY to $186 million, beating the consensus estimate of $164.12 million. However, its quarterly earnings of 99 cents per share missed average estimates of $1.01 per share. AeroVironment also announced a record backlog of $424.1 million, putting it on track for 20% top-line growth in fiscal 2024. The company expects full-year 2024 revenue to be in the range of $630 million to $660 million, versus estimates of $600.24 million.

Portfolio Pulse from Adam Eckert

June 28, 2023 | 12:52 pm

CCI

HOOD

LMT

Richard Saperstein of HighTower Treasury Partners recommended Lockheed Martin Corporation (LMT) due to its 5.5% free cash flow yield. Jenny Harrington of Gilman Hill Asset Management recommended Crown Castle Inc. (CCI) due to its 5.5% yield and expected growth. Josh Brown of Ritholtz Wealth Management mentioned Robinhood Markets, Inc. (HOOD) due to its recent layoffs. CCI reported Q1 revenues of $1.77 billion, beating consensus. Robinhood is cutting about 7% of its full-time staff due to reduced customer engagement.

Portfolio Pulse from Lisa Levin

June 28, 2023 | 12:34 pm

UNF

UniFirst (NYSE:UNF) reported its Q3 earnings, missing estimated earnings by 7.26% with an EPS of $1.66 versus an estimate of $1.79. However, revenue was up $65.12 million from the same period last year. Last quarter, the company beat EPS estimates which led to a 0.29% increase in the share price the next day.

Portfolio Pulse from Benzinga Insights

June 28, 2023 | 12:25 pm

MU

Micron Technology, Inc. (NASDAQ:MU) is set to release its quarterly results on June 28, 2023. Ahead of this, options markets are implying a move of around +/-6% following the earnings release. There has been a spike in options trading, with Micron trading at 1.7x its average daily call volume. Traders are expecting Micron's shares to surge more than 10% by July expiration. Analysts, however, expect Micron to post a quarterly loss at $1.57 per share on revenue of $3.67 billion.

Portfolio Pulse from Lisa Levin

June 28, 2023 | 12:24 pm

ACN

CRM

DLTR

EA

Insiders at Electronic Arts Inc. (EA), Dollar Tree, Inc. (DLTR), Accenture plc (ACN), and Salesforce, Inc. (CRM) have recently sold shares. EA is undergoing significant internal changes, Dollar Tree announced growth strategies and reaffirmed guidance, Accenture reported Q3 results and lowered FY23 revenue growth guidance, and Salesforce received an Outperform rating from Oppenheimer with a price target of $235.

Portfolio Pulse from Lisa Levin

June 28, 2023 | 12:18 pm

UNF

UniFirst has updated its fiscal 2023 revenue forecast to between $2.22 billion and $2.23 billion, up from the previous estimate of $2.21 billion to $2.22 billion. This is primarily due to strong performance in the Specialty Garments' business. However, the company's EPS is expected to be between $5.02 and $5.37, lower than the previous estimate of $7.13.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 12:12 pm