Streetbeat News

Earnings

AVAV

AeroVironment (NASDAQ:AVAV) reported its Q4 earnings results, missing estimated earnings by 1.98% with an EPS of $0.99 versus an estimate of $1.01. However, revenue was up $53.42 million from the same period last year. Last quarter, the company also missed on EPS by $0.08, which was followed by a 4.24% increase in the share price the next day.

Portfolio Pulse from Benzinga Insights

June 27, 2023 | 8:15 pm

AVAV

AeroVironment (NASDAQ:AVAV) reported Q4 earnings of $0.99 per share, missing the analyst consensus estimate of $1.01 by 1.98 percent. However, the company's quarterly sales of $186.04 million beat the analyst consensus estimate of $164.12 million by 13.36 percent. This represents a 230 percent increase in earnings and a 40.28 percent increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2023 | 8:14 pm

LVO

LiveOne, Inc (NASDAQ:LVO) reported Q4 FY23 revenue of $25.5 million, beating the consensus of $25 million. The company's Audio Division revenue grew to $22.9 million, and paid memberships increased by 39% Y/Y to 2.2 million. The operating loss improved to $(0.9) million from ($8.3) million a year ago. However, EPS loss of $(0.06) missed the consensus loss of $(0.03). LiveOne raised its FY24 Audio Division revenue guidance to $100 million - $110 million and consolidated revenue to $122 million - $130 million.

Portfolio Pulse from Anusuya Lahiri

June 27, 2023 | 7:24 pm

RAD

Rite Aid Corporation (NYSE:RAD) shares are trading lower in sympathy with Walgreens Boots Alliance after the latter lowered its fiscal year 2023 guidance. Walgreens' lowered guidance reflects consumer and category conditions, lower COVID-19 contribution, and a more cautious macroeconomic forward view. This comes two days before Rite Aid is set to report its first-quarter earnings.

Portfolio Pulse from Ryan Gustafson

June 27, 2023 | 7:21 pm

MANU

Manchester United PLC (NYSE:MANU) stock surged over 7% on Tuesday despite an EPS miss for Q3. The company reported a loss of 9 cents per share, but beat revenue estimates with $206.539 million. The surge is attributed to rumors of a potential sale of the club, possibly to Qatar's Sheikh Jassim. The stock's uptrend negated its previous downtrend pattern, and it is expected to continue rising.

Portfolio Pulse from Melanie Schaffer

June 27, 2023 | 7:20 pm

CCL

RCL

Carnival Corp (CCL) reported upbeat Q2 FY23 results, with 2023 EBITDA raised to $4.1-4.25 billion and long-term targets ahead of expectations. CCL also announced its SEA Change Program, setting performance targets through 2026. Analysts from BofA Securities, Truist Securities, and Susquehanna provided their views on the results and set new price targets. CCL shares traded higher by 8.2% at $15.80.

Portfolio Pulse from Shivani Kumaresan

June 27, 2023 | 7:11 pm

ACET

BDTX

CNTG

RIDE

SNX

SYTA

TIVC

U.S. stocks traded higher with the Nasdaq Composite gaining over 200 points. TD Synnex Corp reported worse-than-expected Q2 results and issued Q3 guidance below estimates. Centogene N.V., Black Diamond Therapeutics, and Tivic Health Systems saw their shares rise due to various positive developments. Lordstown Motors Corp filed for Chapter 11 bankruptcy, Adicet Bio shared disappointing data from its Phase 1 study, and Siyata Mobile priced a 50 million share offering, leading to a drop in their shares.

Portfolio Pulse from Lisa Levin

June 27, 2023 | 7:04 pm

FCX

A significant amount of unusual options activity has been observed for Freeport-McMoRan (NYSE:FCX), with a majority of investors taking a bullish stance. The targeted price range for the company over the last three months has been between $25.0 and $45.0. The current price of FCX is up 2.92% at $40.41, and the next earnings are expected in 23 days. Morgan Stanley has maintained their Equal-Weight rating on Freeport-McMoRan with a price target of $38.

Portfolio Pulse from Benzinga Insights

June 27, 2023 | 7:03 pm

GMS

Truist Securities analyst Keith Hughes has reiterated a Hold rating on GMS Inc. (NYSE:GMS) and raised the price target to $72 from $60. GMS reported Q4 FY23 sales growth of 1.2% Y/Y to $1.304 billion, surpassing the consensus of $1.27 billion. The analyst increased the FY 2024 EBITDA estimate to $596 million from $507 million. However, Hughes believes that the housing outlook and potential pressure on wallboard pricing will limit multiple expansions.

Portfolio Pulse from Nabaparna Bhattacharya

June 27, 2023 | 7:02 pm

SPOT

Truist Securities analyst Matthew Thornton has reiterated a Buy rating on Spotify Technology SA (NYSE:SPOT), raising the price target to $170 from $154. The company is expected to post its Q2 2023 financial results on July 25, 2023. The analyst expects 530 million monthly active users for the quarter, up from 515 million in Q1 2023. The analyst also expects FX to be a modest tailwind to revenue due to the weakness of the EUR versus other currencies. The analyst views 2Q-3Q expectations as very reasonable and sees the risk as being to the upside.

Portfolio Pulse from Nabaparna Bhattacharya

June 27, 2023 | 6:58 pm