Streetbeat News

Earnings

LOGI

VFC

VF Corp has appointed Bracken Darrell, former Logitech CEO, as its new President and CEO, effective July 17, 2023. Darrell will replace Benno Dorer, who served as Interim President and CEO since December 2022. VF Corp reported a Q4 FY23 sales decline of 3% Y/Y to $2.74 billion, slightly beating the consensus of $2.73 billion.

Portfolio Pulse from Lekha Gupta

June 20, 2023 | 1:33 pm

T

AT&T expects Q2 free cash flow to be in the $3.5B-$4B range and remains on track to deliver FY free cash flow of $16B. In wireless, the company is tracking to slightly above 300,000 Q2 postpaid phone net additions, and subscriber porting trends have normalized.

Portfolio Pulse from Happy Mohamed

June 20, 2023 | 1:32 pm

KHC

Kraft Heinz Co (KHC) has set a long-term organic net sales growth target of +2-3% according to a recent SEC filing.

Portfolio Pulse from Happy Mohamed

June 20, 2023 | 1:30 pm

DSWL

Deswell Industries reported 2H 2023 EPS of $0.16, down from $0.25 YoY, and sales of $33.105M, down from $45.708M YoY.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2023 | 1:30 pm

AGC

Grab Holdings CEO announced that the company is on track to achieve group adjusted EBITDA breakeven, regardless of any ongoing exercises. This statement comes amid the company's ongoing SPAC merger with Altimeter Growth Corp (AGC).

Portfolio Pulse from Happy Mohamed

June 20, 2023 | 1:19 pm

BABA

DB

EADSY

GOOGL

GRAB

HYMTF

NVDA

SPOT

Spotify plans to launch a more expensive subscription plan called 'Supremium' with high-fidelity audio. Grab Holdings plans to cut its workforce by 5%. Deutsche Bank applies for a digital asset custody license. Google is in talks with Indian suppliers to assemble Pixel smartphones. Chinese vendors bypass the US embargo to supply Nvidia AI chips. Alibaba names Eddie Wu as its new CEO. Hyundai unveils an $85B investment plan for EVs. Airbus confirms a 500 A320 aircraft order from IndiGo.

Portfolio Pulse from Vandana Singh

June 20, 2023 | 1:07 pm

GRUSF

Grown Rogue International Inc. reported Q2 FY23 revenue of $6 million, a 28% increase compared to Q2 FY22. Gross profit increased 18.2% to $2.6 million, while net income rose 184.6% to $411,979. The company ended the quarter with $3.8 million cash on hand.

Portfolio Pulse from Vuk Zdinjak

June 20, 2023 | 1:05 pm

AZO

HUM

JPM

WAB

CNBC's 'Halftime Report Final Trades' featured JPMorgan Chase, Westinghouse Air Brake Technologies, Humana, and AutoZone. JPMorgan is set to pay a $290 million settlement, Westinghouse acquired L&M Radiator, Humana reaffirmed its earnings guidance, and AutoZone authorized a $2 billion share buyback.

Portfolio Pulse from Lisa Levin

June 20, 2023 | 12:54 pm

MMAT

Meta Materials (MMAT) expects to have $15.3M in cash, cash equivalents, and short-term investments as of May 31, 2023. The company also anticipates incurring non-cash impairment charges of about $282M in connection with its revised operational plan.

Portfolio Pulse from Happy Mohamed

June 20, 2023 | 12:51 pm

TCON

TRACON Pharmaceuticals announced positive results from the ongoing ENVASARC Phase 2 pivotal trial for single agent Envafolimab, with a double-digit objective response rate (ORR) and no > Grade 2 drug-related toxicity. The combination of Envafolimab with Yervoy did not show synergy and will be terminated, reducing trial costs and accelerating the timeline to final data.

Portfolio Pulse from Happy Mohamed

June 20, 2023 | 12:04 pm