Streetbeat News

Earnings

GNTX

Gentex Corporation reported Q3 FY23 sales growth of 17% YoY to $575.85 million, beating the analyst consensus. However, the company's CEO warned of a potential Q4 downturn due to UAW strikes. The company's shares fell by 6.16% following the announcement.

Portfolio Pulse from Nabaparna Bhattacharya

October 27, 2023 | 4:32 pm

AMD

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) are trading higher by 3.35% to $96.81 during Friday's session, possibly in sympathy with Intel Corporation's better-than-expected Q4 results and strong guidance. Intel's success could signal a well-performing semiconductor market, potentially benefiting other companies in the industry, including AMD. This could lead to speculation that AMD may also report strong results or gain market share, driving its stock price higher.

Portfolio Pulse from Henry Khederian

October 27, 2023 | 4:31 pm

Block, Inc. (NYSE:SQ) shares have fallen nearly 10% in the last five days due to fears of U.S. payment companies following suit after French payment processing company Worldline slashed its guidance. Macroeconomic pressures including inflation and rising interest rates are also affecting consumer spending. Block is set to report its Q3 financial results on Nov. 2. More than 12 million shares have been traded in Friday's session, compared to the stock's 100-day average of 11.077 million shares.

Portfolio Pulse from Erica Kollmann

October 27, 2023 | 4:30 pm

ZYXI

Zynex, a medical technology company, reported better-than-expected Q3 financial results, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

October 27, 2023 | 4:23 pm

ABVC

ALGN

FFWM

SILC

Benzinga's Stock Whisper Index has highlighted five stocks that warrant attention for the week of Oct. 27, 2023. These include Impinj Inc, which reported strong Q3 results and Q4 guidance; ABVC Biopharma Inc, which saw shares soar after announcing a licensing deal; First Foundation Inc, which reported strong Q3 results; Silicom, which reported strong Q3 results but weaker Q4 guidance; and Align Technology, which reported weaker Q3 results and Q4 guidance.

Portfolio Pulse from Chris Katje

October 27, 2023 | 4:20 pm

SAIA

Saia Inc reported Q3 FY23 revenue growth of 6.2% YoY to $775.1 million, beating the consensus of $745.98 million. Diluted EPS remained the same at $3.67. Operating income slightly improved to $128.44 million, while the margin contracted by 102 bps to 16.6%. The company generated $416.27 million cash from operating activities for nine months ended Sept. 30, 2023. LTL shipments per workday increased 12.2%, tonnage per workday increased 6.7%, and revenue per hundredweight increased 8.4%. Total debt was $18.9 million, and SAIA ended the quarter with $249.3 million of cash on hand.

Portfolio Pulse from Akanksha Bakshi

October 27, 2023 | 4:10 pm

AMZN

GOOG

INTC

META

MSFT

Earnings calls are increasingly mentioning 'AI', reflecting the growing influence of artificial intelligence on business performance and strategy. Microsoft, Alphabet, Meta, Amazon, and Intel have all seen an uptick in the use of the term in their Q3 2023 earnings calls compared to the previous quarter. The rise of AI in earnings calls can be attributed to its integration in operations, investor interest, competitive advantage, and regulatory and ethical concerns.

Portfolio Pulse from Surbhi Jain

October 27, 2023 | 4:07 pm

BJRI

BJ's Restaurants reported Q3 financial results, leading to a rise in its share prices. Wedbush maintained an Outperform rating on the stock and increased its price target from $32 to $33.

Portfolio Pulse from Benzinga Newsdesk

October 27, 2023 | 4:06 pm

BYDDF

NIO

TSLA

XPEV

Chinese EV makers saw a rise in their stock prices after Tesla scrapped a discount on its Model Y in China. Xpeng, Li Auto, and Nio saw increases of 4%, 3%, and 2% respectively. Tesla's move is seen as a step towards profitability in the Chinese market, where it competes with these companies. This comes after Tesla's Q3 earnings fell short of expectations, with a 32.8% MoM sales decline in China. Meanwhile, BYD, another competitor, expects to increase its net profit by 67% to 102% in Q3.

Portfolio Pulse from Daniel Harrison

October 27, 2023 | 4:05 pm

DAN

Dana Incorporated reported Q3 FY23 sales growth of 5% YoY to $2.669 billion, missing the consensus of $2.695 billion. However, its adjusted EPS of $0.30 beat the analyst consensus of $0.13. The company expects FY23 sales of $10.7 billion if the UAW strike lasts till Oct. 31, but this could drop to $10.2 billion if the strike lasts till Dec. 31. If no resolution is reached by year's end at all its Detroit 3 customers, including Ford Motor Company, Dana anticipates its sales to be approximately $500 million lower.

Portfolio Pulse from Nabaparna Bhattacharya

October 27, 2023 | 4:02 pm