Streetbeat News

Earnings

BW

DRCT

MRAI

PLUG

TCON

TTD

TWOU

The Nasdaq Composite saw a significant rise, gaining around 250 points on Friday, while the Dow and S&P 500 also traded higher. The Trade Desk, Inc. (TTD) reported better-than-expected third-quarter earnings but provided a weaker revenue forecast for the fourth quarter, below analyst expectations. Other companies like TRACON Pharmaceuticals, Inc. (TCON), Direct Digital Holdings, Inc. (DRCT), and Marpai, Inc. (MRAI) saw their shares rise after reporting financial results or corporate actions. Conversely, Babcock & Wilcox Enterprises, Inc. (BW), Plug Power Inc. (PLUG), and 2U, Inc. (TWOU) experienced significant share price drops following their earnings reports and outlooks. In commodities, oil prices increased while gold and silver declined. European and Asian markets closed mostly lower, and U.S. consumer sentiment hit a six-month low.

Portfolio Pulse from Lisa Levin

November 10, 2023 | 8:07 pm

TWLO

Twilio's stock (TWLO) is experiencing an upward trend following the company's report of Q3 financial results that surpassed expectations.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 8:06 pm

GRAB

Benchmark analyst Fawne Jiang reiterated a Buy rating on Grab Holdings (NASDAQ:GRAB) with a price target of $6, following a strong quarter with group-level profitability for the first time. Jiang highlights GRAB's competitive edge in affordability and its position as a super-app and multi-region operator. Despite macro uncertainty, Jiang is confident in GRAB's market share gain and sees it as a market consolidator in Southeast Asia, recommending it as a core emerging market investment. The FY23 revenue estimate was raised to $2.34 billion, with adjusted EBITDA at $(20) million.

Portfolio Pulse from Anusuya Lahiri

November 10, 2023 | 7:57 pm

AMC

AMC Entertainment's stock is trading lower due to ongoing weakness following its Q3 financial results and the announcement of a $350 million at-the-market offering.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 7:48 pm

TSNDF

TerrAscend Corp. (OTC:TSNDF) reported strong financial performance in Q3 with a 24% QoQ and 35% YoY revenue increase to $89.2 million, beating the consensus estimate. Growth was driven by Maryland's adult-use conversion and efficiency gains. Needham analysts praised the company's strategic moves and operational realignment, projecting a solid Q4 with consistent revenue and improved EBITDA margins. TerrAscend has reduced debt by 40% and interest expenses by 30%, focusing on asset acquisition in existing states. Despite being rated as a 'Hold' and trading at an EV/EBITDA premium, the company's strategic financial management positions it for robust cash flow and steady revenue. However, risks include market expansion, regulatory challenges, and pricing dynamics in the U.S. cannabis industry.

Portfolio Pulse from Javier Hasse

November 10, 2023 | 7:45 pm

NVTA

TSM

Shares of semiconductor and chip companies are experiencing an uptick due to overall tech sector strength, AI optimism, and positive financial reports from TSMC and Navitas.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 7:39 pm

MSFT

Microsoft Corp's stock (MSFT) reached a new record high of $363.20 on November 8, 2023, after a strong Q1 earnings report and strategic investment in OpenAI. Despite a 15% drop post-July 2023, the stock has shown resilience, surpassing expectations with Q1 earnings of $2.99 per share against an estimate of $2.50. The partnership with OpenAI, including exclusive access to GPT-4, positions Microsoft as a leader in AI. The stock faces a next milestone at $366, with potential for a significant bullish trend.

Portfolio Pulse from Zaheer Anwari

November 10, 2023 | 7:39 pm

TSNDF

Following TerrAscend Corp.'s (OTC:TSNDF) strong Q3 earnings, analysts from Clarus Securities, Echelon Capital Markets, ATB Capital Markets, and Canaccord Genuity have raised their price targets and upgraded their ratings. Clarus Securities increased their target to $3.50 with a 'Buy' rating. Echelon Capital Markets upgraded to 'Speculative Buy' with a C$2.75 target. ATB Capital Markets gave an 'Outperform' rating with a C$4.00 target, and Canaccord Genuity raised their target to C$3.25, maintaining a 'Buy' rating.

Portfolio Pulse from Javier Hasse

November 10, 2023 | 7:30 pm

MCD

McDonald's Inc. (NYSE:MCD) shares are trading at $267.35, with a recent increase of 0.16% and a 7.65% rise over the past month. Despite this, the stock has fallen by 1.82% over the past year. The P/E ratio of McDonald's is 23.54, which is lower than the industry average of 122.21. This could suggest that the stock is undervalued or that shareholders expect lower future growth compared to its industry peers.

Portfolio Pulse from Benzinga Insights

November 10, 2023 | 7:30 pm

VERX

BMO Capital Markets analyst Daniel Jester maintained a Market Perform rating on Vertex, Inc. (NASDAQ:VERX) but increased the price target from $24 to $28 after the company's Q3 earnings beat and raised guidance. Vertex's Q3 total revenues were up 14.9% year-over-year at $145 million. The stock experienced a significant move post-earnings, which was unexpected. Jester sees a balanced risk/reward for VERX in the near term and has adjusted FY23 and FY24 revenue estimates upwards, while slightly lowering the FY24 EPS estimate.

Portfolio Pulse from Nabaparna Bhattacharya

November 10, 2023 | 7:29 pm