Streetbeat News

Earnings

BEEM

Beam Global shares are trading lower after the company reported worse-than-expected Q2 financial results. B. Riley Securities also lowered its price target on the stock from $11 to $10.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 6:54 pm

OUST

Ouster Inc. (NYSE: OUST) reported weaker-than-expected Q2 sales, leading to a 27.7% drop in its stock price. Despite beating EPS estimates, the company missed revenue expectations and provided lower-than-expected Q3 revenue guidance. Analysts have adjusted their price targets downward.

Portfolio Pulse from Avi Kapoor

August 14, 2024 | 6:54 pm

ELYM

Eliem Therapeutics shares are trading lower after the company reported a year-over-year decrease in Q2 EPS results.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 6:50 pm

KITT

Nauticus Robotics, Inc. (NASDAQ:KITT) shares fell 15.9% after reporting Q2 losses of $2.75 per share on revenue of $501,710, a 55.53% decrease from last year. The company is upgrading its deepwater electronics and expects to expand revenue opportunities with two working vehicles. CEO John Gibson highlighted ongoing support from lenders and progress in a program for a major offshore producer in Brazil.

Portfolio Pulse from Erica Kollmann

August 14, 2024 | 6:47 pm

SE

BofA Securities analyst Sachin Salgaonkar reiterated a Buy rating on Sea Limited (NYSE:SE), raising the price target to $84 from $77. Sea Limited reported a 23% YoY revenue growth for Q2, beating estimates. The company is expected to benefit from e-commerce growth in Southeast Asia and expansion into Brazil. The analyst revised FY24/25 EPS estimates and target multiples for gaming and Shopee, indicating improved business momentum.

Portfolio Pulse from Nabaparna Bhattacharya

August 14, 2024 | 6:35 pm

BMY

EVO

Evotec SE (NASDAQ:EVO) reported increased sales but a significant EPS loss, leading to layoffs and strategic shifts. The company is reducing its workforce by 7% and exiting certain operations. Despite challenges, Evotec continues its partnership with Bristol Myers Squibb (NYSE:BMY), securing $75 million in payments. The company expects improved profitability in the second half of 2024.

Portfolio Pulse from Vandana Singh

August 14, 2024 | 6:30 pm

FTXL

GGME

QCOM

TSM

Qualcomm (QCOM) is expected to benefit from its edge AI positioning in smartphones and PCs, as well as its expanding presence in the auto sector. KeyBanc Capital Markets analyst John Vinh maintained an Overweight rating and a $225 price target for QCOM. Despite strong Q3 results, QCOM shares are trading lower due to potential headwinds, including the revoking of its license to sell to Huawei. Investors can gain exposure to QCOM through ETFs like Invesco Next Gen Media And Gaming ETF (GGME) and First Trust Nasdaq Semiconductor ETF (FTXL).

Portfolio Pulse from Lekha Gupta

August 14, 2024 | 6:26 pm

SIEB

Siebert Financial Corp. (NASDAQ:SIEB) reported a significant increase in its Q2 earnings and sales. The company's earnings per share (EPS) rose by 42.86% to $0.10, compared to $0.07 in the same period last year. Sales also saw an 18.59% increase, reaching $20.86 million, up from $17.59 million year-over-year.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 6:16 pm

CRWD

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) shares are moving higher as the company prepares to release its quarterly fiscal earnings on August 28. Analysts estimate an EPS of 98 cents and revenue of $958.69 million. The company is also facing legal action from Delta Air Lines over a July 19 outage, which Delta claims caused $500 million in damages. Multiple analysts have recently adjusted their price targets for CrowdStrike.

Portfolio Pulse from Dylan Berman

August 14, 2024 | 6:16 pm

SNFCA

Security National Financial Corporation (NASDAQ:SNFCA) reported a Q2 EPS of $0.30, up 11.11% YoY, and sales of $85.79M, up 2.32% YoY.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 6:03 pm