Streetbeat News

Earnings

FL

HIBB

Hibbett Inc (HIBB) reported lower-than-expected 1Q23 earnings and sales, leading to a 25% cut in its 2023 EPS guidance. Telsey Advisory Group analyst Cristina Fernández reiterated an Outperform rating with a $70 price target. The results reflect lower demand for discretionary products, inventory buildup, and increased markdowns.

Portfolio Pulse from Shivani Kumaresan

May 26, 2023 | 4:40 pm

AMD

MRVL

NVDA

QQQ

AMD shares are trading higher, moving in sympathy with Marvell Technology following Marvell's strong Q1 results and forecast that AI revenue will double by 2024. The tech sector is also boosted by NVIDIA's Q1 earnings and optimism surrounding debt ceiling discussions.

Portfolio Pulse from AJ Fabino

May 26, 2023 | 4:33 pm

AMZN

ANF

FL

GPS

KSS

NKE

URBN

Gap Inc reports better than expected results despite declining sales across all brands and a net loss in Q4. Shares surged 15% as gross margins improved. Abercrombie & Fitch, Urban Outfitters, and Kohl's also exceeded earnings expectations. Gap needs to reposition itself for long-term growth and compete with Amazon.

Portfolio Pulse from Upwallstreet

May 26, 2023 | 4:28 pm

GCT

GigaCloud Technology (GCT) reported a year-over-year increase in Q1 financial results, leading to a rise in its share price.

Portfolio Pulse from Bill Haddad

May 26, 2023 | 4:25 pm

MRVL

Marvell Technology (MRVL) reported better-than-expected Q1 results, with analysts raising price targets and highlighting the company's AI growth potential. MRVL expects its AI exposure to double in each of the next two years.

Portfolio Pulse from Priya Nigam

May 26, 2023 | 4:22 pm

GES

Telsey Advisory Group analyst Dana Telsey reiterated a Market Perform rating on Guess? Inc (NYSE: GES) with a price target of $23. GES reported better-than-expected 1Q23 results, but management expects 2Q23 revenue to be flat to down 1.5% YoY. The company's outlook reflects cautious consumer spending in the US and uncertainties in Europe.

Portfolio Pulse from Shivani Kumaresan

May 26, 2023 | 4:20 pm

COST

Costco Wholesale Corporation reported better-than-expected Q3 adjusted EPS results, leading to a rise in its share price. The stock may also be benefiting from overall market strength due to hopes of a debt ceiling resolution.

Portfolio Pulse from Benzinga Newsdesk

May 26, 2023 | 4:16 pm

AAWH

CURLF

GTBIF

First quarter results of U.S. cannabis companies show a focus on generating positive cash flow amidst challenging operating conditions. Green Thumb Industries, Curaleaf Holdings, and Ascend Wellness reported positive cash flows while investing in growth opportunities.

Portfolio Pulse from Alexander Teicher

May 26, 2023 | 4:15 pm

BIG

GCT

PDD

Crude oil prices rose 1% while US stocks traded higher, with the Nasdaq Composite gaining over 200 points. Big Lots shares dipped 15% after reporting a Q1 sales decline of 18.3% YoY and an adjusted EPS loss of $(3.40), missing consensus estimates. GigaCloud Technology and PDD Holdings shares rose 18% and 17% respectively.

Portfolio Pulse from Lisa Levin

May 26, 2023 | 4:05 pm

DLTR

Dollar Tree shares are trading higher after a dip in price following the company's Q1 financial results announcement.

Portfolio Pulse from Benzinga Newsdesk

May 26, 2023 | 3:19 pm