Streetbeat News

Earnings

CRDO

Credo Technology Group reported better-than-expected Q4 revenue results and issued Q1 revenue guidance above estimates, leading to multiple analysts raising their price targets on the stock.

Portfolio Pulse from Benzinga Newsdesk

June 01, 2023 | 4:54 pm

PSTG

Pure Storage (NYSE:PSTG) reported better-than-expected Q1 financial results and issued Q2 revenue guidance of $680 million, beating the consensus of $656.13 million. Multiple analysts raised price targets following the company's quarterly results.

Portfolio Pulse from Erica Kollmann

June 01, 2023 | 4:48 pm

LFCR

Lifecore Biomedical Inc (NASDAQ:LFCR) reported a Q3 FY23 revenue decline of 26% Y/Y to $27.60 million, missing the consensus of $28 million. The company is currently evaluating strategic alternatives to maximize stockholder value.

Portfolio Pulse from Lekha Gupta

June 01, 2023 | 4:40 pm

SCLX

SRNEQ

Scilex Holding Company (SCLX) reports preliminary unaudited financial results for May 2023, with estimated gross sales of $13.0M-$15.0M and net sales of $4.2M-$5.1M. The company is a majority-owned subsidiary of Sorrento Therapeutics (SRNEQ).

Portfolio Pulse from Happy Mohamed

June 01, 2023 | 4:31 pm

REED

Reed's Inc reported a Q1 FY23 sales decrease of 8.4% YoY to $11.16 million, missing the analyst consensus estimate of $14.12 million. The decrease was primarily due to tightened credit terms from suppliers, impacting inventory. The company expects to turn cash flow positive in H2 2023.

Portfolio Pulse from Shivani Kumaresan

June 01, 2023 | 4:16 pm

CRM

Salesforce (CRM) shares dropped despite reporting upbeat Q1 revenues and earnings. Analysts from Piper Sandler, Mizuho Securities, Needham, and Oppenheimer shared their insights on the company's performance and outlook, with most maintaining positive ratings and raising price targets.

Portfolio Pulse from Priya Nigam

June 01, 2023 | 4:15 pm

MRVL

Marvell Technology's shares are trading higher due to continued momentum in semiconductor stocks driven by AI optimism. The company recently reported strong Q1 results.

Portfolio Pulse from Benzinga Newsdesk

June 01, 2023 | 4:15 pm

BNED

Barnes & Noble Education reported that fiscal 2023 did not meet financial expectations, partially due to lower than expected Q4 revenue and lower Q4 gross profits.

Portfolio Pulse from Benzinga Newsdesk

June 01, 2023 | 4:15 pm

DAL

LE

Lands' End reported Q1 sales increase of 1.9% YoY to $309.56 million and a narrowed EPS loss of $(0.05). U.S. eCommerce revenue increased by 1.6%, while international eCommerce revenue decreased by 42.5%. Outfitters net revenue increased by 37.1% YoY, driven by inventory sales to Delta Air Lines.

Portfolio Pulse from Nabaparna Bhattacharya

June 01, 2023 | 4:08 pm

HRL

Hormel Foods Corporation reported Q2 financial results and reaffirmed its FY23 guidance, leading to a rise in its share price.

Portfolio Pulse from Benzinga Newsdesk

June 01, 2023 | 3:51 pm