Streetbeat News

Earnings

FLO

HRB

MAT

QQQ

SPY

US stocks are poised to continue their winning streak as Vice President Kamala Harris prepares to unveil her economic policy. The S&P 500 and Nasdaq Composite indices are expected to open higher, driven by positive economic data and a 'risk-on' sentiment. Key stocks and ETFs like SPY, QQQ, MAT, HRB, and FLO are showing varied premarket movements.

Portfolio Pulse from Shanthi Rexaline

August 16, 2024 | 10:38 am

ACI

AHOY

KR

PBJ

Kroger Co. (NYSE: KR) has initiated private exchange offers for Albertsons Companies, Inc. (NYSE: ACI) notes, aiming to swap up to $7.44 billion in new Kroger notes and cash. The company also plans to cut grocery prices by $1 billion following its $25 billion merger with Albertsons, which is currently facing antitrust lawsuits. The merger, announced in October 2022, aims to create a grocery giant with over 4,000 stores but is paused pending a Colorado District Court ruling. Kroger's Q1 adjusted EPS surpassed expectations, and investors can gain exposure via Invesco Food & Beverage ETF (NYSE: PBJ) and Tidal ETF Trust Newday Ocean Health ETF (NYSE: AHOY).

Portfolio Pulse from Lekha Gupta

August 16, 2024 | 10:22 am

OCFT

OneConnect Financial reported Q2 earnings per ADS of $(0.06) and a year-over-year decline in revenue from continuing operations to $95.6 million.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2024 | 10:06 am

RLX

RLX Technology reported Q2 adjusted EPADS of $0.02, which met the estimate, but sales of $86.30M missed the $87.91M estimate.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2024 | 9:33 am

SGML

Sigma Lithium reported its Q2 2024 financial results, missing both earnings and sales estimates. The company posted a GAAP EPS of C$0.13, falling short of the C$0.20 estimate, and sales of C$62.857 million, missing the C$93.394 million estimate.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2024 | 8:37 am

STG

Sunlands Technology reported a decrease in Q2 earnings per share (EPS) to $1.65 from $1.73 year-over-year (YoY) and a decline in sales to $67.73 million from $72.59 million YoY.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2024 | 8:31 am

QQQ

SPY

Paul Christopher from Wells Fargo predicts a significant upswing in the stock market, similar to the 1995 boom, due to falling inflation and stable economic growth. He expects the Federal Reserve to cut rates, which could benefit financial and tech stocks. The S&P 500 and Russell 2000 are showing strong performance, with SPY and QQQ ETFs closing higher.

Portfolio Pulse from Benzinga Neuro

August 16, 2024 | 8:09 am

MSGE

Madison Square Garden Entertainment Corp. (NYSE:MSGE) is set to release its Q4 earnings on Aug. 16. Analysts expect a quarterly loss of 52 cents per share and revenue of $169.61 million. Recent analyst ratings include a mix of Neutral, Equal-Weight, and Buy, with price targets ranging from $36 to $43.

Portfolio Pulse from Avi Kapoor

August 16, 2024 | 7:55 am

GIPR

Generation Income (NASDAQ:GIPR) reported Q2 2024 earnings of $0.03 per share, beating the analyst estimate of $0.02 by 50%. The company also reported sales of $2.259 million, surpassing the estimate of $2.250 million by 0.40%. This represents a 69.98% increase over the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2024 | 7:21 am

AXIL

AXIL Brands reported a significant increase in its FY24 earnings per share (EPS) and revenue. The EPS rose to $0.21 from $0.10 year-over-year (YoY), and revenue increased by 17% to $27.498 million from $23.521 million YoY. The gains were primarily driven by enhanced marketing and sales initiatives in the hearing protection and enhancement segment.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2024 | 7:19 am