Streetbeat News

Earnings

LAZY

Lazydays Holdings shares are trading lower following worse-than-expected Q2 financial results.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2024 | 6:51 pm

HUBC

Hub Cyber Security shares are trading lower following the release of their FY23 financial results.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2024 | 6:46 pm

CING

HRB

NDRA

SHIM

SNDA

ZCAR

U.S. stocks traded higher with the Dow Jones, NASDAQ, and S&P 500 all posting gains. Financials led the sectors, while real estate lagged. Key movers included Cingulate Inc. (CING), Zoomcar Holdings, Inc. (ZCAR), H&R Block, Inc. (HRB), Sonida Senior Living, Inc. (SNDA), Shimmick Corporation (SHIM), and ENDRA Life Sciences Inc. (NDRA). Commodities saw oil prices drop and gold prices rise.

Portfolio Pulse from Avi Kapoor

August 16, 2024 | 6:46 pm

GLOB

Globalant shares are trading higher after the company reported better-than-expected Q2 financial results. Multiple firms have also raised their price targets on the stock.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2024 | 6:35 pm

BASE

Piper Sandler analyst Brent A. Bracelin initiated coverage on Couchbase, Inc. (NASDAQ:BASE) with an Overweight rating and a price forecast of $22. The analyst sees potential for ARR growth reacceleration, improved operating efficiency, and significant market share gains. Couchbase serves large applications for Fortune 500 companies and has strong gross margins. Despite macroeconomic challenges, the analyst anticipates a return to growth above 20% next year.

Portfolio Pulse from Nabaparna Bhattacharya

August 16, 2024 | 6:31 pm

AMAT

INTC

Applied Materials (AMAT) reported strong Q3 earnings, beating revenue and EPS estimates. Despite this, the stock declined due to light Q4 guidance and lower China revenue. Analysts remain optimistic about AMAT's long-term growth, with several maintaining or raising their price targets. Key concerns include potential export restrictions and Intel's capex cuts, but AMAT's leadership in advanced technologies and high gross margins are seen as positive factors.

Portfolio Pulse from Anusuya Lahiri

August 16, 2024 | 6:26 pm

ORGN

Origin Materials, Inc. (NASDAQ:ORGN) shares surged after reporting Q2 financial results. Despite missing earnings and sales estimates, the company secured a 2-year MOU for PET closure production, projected to generate over $100 million in revenue starting in 2025. BofA Securities upgraded ORGN to Buy, raising the price target to $3.00, citing potential profitability as early as 2026 and significant long-term growth potential in its biomass conversion technology.

Portfolio Pulse from Lekha Gupta

August 16, 2024 | 5:58 pm

AMAT

AMCR

COHR

DIA

FLO

GDX

GLOB

HRB

IWM

MRVI

QQQ

RGEN

SPY

XLC

XLF

XLRE

XLY

Wall Street saw modest gains on Friday, driven by improved consumer sentiment and strong economic data. Gold hit a record high, boosting mining stocks, while oil prices dipped due to geopolitical developments. Key ETFs and stocks showed varied performances, with notable movements in H&R Block, Amcor, Applied Materials, Coherent, Flower Foods, Globant, and Repligen.

Portfolio Pulse from Piero Cingari

August 16, 2024 | 5:38 pm

BTBT

Bit Digital Inc (NASDAQ:BTBT) shares are trading lower by 1.75% to $2.80 as traders anticipate the company's second-quarter earnings report, expected to show an EPS loss of 3 cents on revenue of $26.089 million. The company also announced its 2024 Annual General Meeting of Shareholders for September 25, where key items include the election of directors and approval of amended articles of association.

Portfolio Pulse from Henry Khederian

August 16, 2024 | 5:23 pm

RILY

B. Riley Financial (NASDAQ:RILY) shares surged after co-founder Bryant R. Riley proposed to acquire all shares he doesn't own for $7 per share, a 40% premium over the previous closing price. Riley, the largest stockholder, plans to finance the transaction with debt and possibly third-party equity. The company recently suspended its dividend, reported its largest quarterly loss, and confirmed an SEC investigation.

Portfolio Pulse from Nabaparna Bhattacharya

August 16, 2024 | 5:19 pm