Streetbeat News

Earnings

AVGO

NVDA

Broadcom Inc. (AVGO) shares rose over 7% in sympathy with NVIDIA Corp (NVDA), which reported outstanding Q1 results and strong guidance. Susquehanna analyst Christopher Rolland maintained a Positive rating for Broadcom and raised the price target to $785 from $690.

Portfolio Pulse from Ryan Gustafson

May 25, 2023 | 7:38 pm

COST

Costco Wholesale Corporation (NASDAQ:COST) is set to release its Q3 financial results after the market close. Analysts estimate earnings of $3.29 per share on revenues of $54.57 billion. Morgan Stanley analyst Simeon Gutman maintained an Overweight rating on Costco and raised the price target from $520 to $535. The stock's reaction to the earnings report will likely determine its short-term bullish or bearish pattern.

Portfolio Pulse from Melanie Schaffer

May 25, 2023 | 7:15 pm

DG

Dollar General Corporation shares are trading lower in sympathy with Dollar Tree after it reported mixed Q1 financial results and issued guidance.

Portfolio Pulse from Benzinga Newsdesk

May 25, 2023 | 7:03 pm

RL

Telsey Advisory Group analyst Dana Telsey reiterated an Outperform rating on Ralph Lauren Corp (NYSE:RL) with a price target of $140. The company reported better-than-expected 4QF23 EPS of $0.90 and sales of $1.541 billion. Asia was a particular strength, and the company's efforts to elevate the offering and attract high-value new customers are showing success.

Portfolio Pulse from Shivani Kumaresan

May 25, 2023 | 6:49 pm

SNOW

Snowflake Inc. (NYSE:SNOW) shares are trading down after the company posted Q1 financial results and lowered product revenue guidance for fiscal year 2024. Q1 revenue was $623.6 million, beating estimates, but full-year product revenue is now expected to be $2.6 billion. Altimeter Capital's Brad Gerstner remains positive on Snowflake, highlighting recent AI-focused acquisitions.

Portfolio Pulse from Ryan Gustafson

May 25, 2023 | 6:49 pm

DLTR

Dollar Tree Inc (NASDAQ: DLTR) reported 1Q23 EPS of $1.47, missing the consensus estimate of $1.52, and guided 2Q23 EPS of $0.79-$0.89, below the consensus of $1.26. Despite the disappointing results, Telsey Advisory Group analyst Joseph Feldman reiterated an Outperform rating with a price target of $165, believing the company is well-positioned for long-term market share gains.

Portfolio Pulse from Shivani Kumaresan

May 25, 2023 | 6:46 pm

BBY

NVDA

SMCI

U.S. stocks traded mixed with the Nasdaq Composite gaining over 200 points. Best Buy reported better-than-expected Q1 earnings, while crude oil dropped sharply. Information technology shares rose by 4.4%, with NVIDIA and Super Micro Computer as top gainers. Energy shares fell 1.8%.

Portfolio Pulse from Lisa Levin

May 25, 2023 | 6:39 pm

AEO

American Eagle Outfitters reported Q1 revenues of $1.08 billion, beating estimates, but higher markdowns and increased rent expenses weighed on the results. Telsey Advisory Group analyst Dana Telsey reiterated a Market Perform rating and lowered the price target to $12 from $17. The company now anticipates full-year sales to be flat to down low single digits Y/Y.

Portfolio Pulse from Nabaparna Bhattacharya

May 25, 2023 | 6:06 pm

MSFT

Microsoft shares are trading higher by 3.53% to $324.93, reaching a new 52-week high of $325.59, following NVIDIA's strong Q1 results and guidance. Microsoft's recent strength can be attributed to better-than-expected Q3 results in April.

Portfolio Pulse from Henry Khederian

May 25, 2023 | 5:18 pm

DLTR

NVDA

Dollar Tree shares dropped 14.1% after mixed Q1 results and guidance. NVIDIA shares gained 22.9% after better-than-expected Q1 results and strong sales forecast. Other stocks experienced significant price movements during Thursday's mid-day session.

Portfolio Pulse from Lisa Levin

May 25, 2023 | 5:11 pm