Streetbeat News

Earnings

AMBA

CLDI

DELL

GPS

MDB

NVOS

U.S. stocks traded mixed with the Dow Jones gaining 250 points, while the NASDAQ and S&P 500 fell. MongoDB shares plummeted 25% due to weak FY25 guidance, while Ambarella, The Gap, and Novo Integrated Sciences saw significant gains. Dell and Calidi Biotherapeutics shares also dropped.

Portfolio Pulse from Avi Kapoor

May 31, 2024 | 6:37 pm

ULTA

Ulta Beauty, Inc. (NASDAQ:ULTA) shares are volatile following better-than-expected Q1 earnings results. The company reported EPS of $6.47, beating estimates of $6.22, and revenue of $2.726 billion, surpassing the expected $2.721 billion. Despite the positive results, Ulta lowered its fiscal-year 2024 guidance. Analysts have adjusted their price targets, mostly lowering them.

Portfolio Pulse from Dylan Berman

May 31, 2024 | 6:31 pm

JWN

Nordstrom, Inc. (NYSE:JWN) reported first-quarter earnings with adjusted losses of 24 cents per share, missing analysts' expectations of 7 cents per share. Analysts from BMO Capital Markets, Telsey Advisory Group, JPMorgan, and BofA Securities provided mixed reactions, with ratings ranging from Market Perform to Underweight and price targets between $17 and $20. Despite topline growth, margin challenges and structural issues in the department store sector remain concerns.

Portfolio Pulse from Nabaparna Bhattacharya

May 31, 2024 | 6:23 pm

DELL

Dell Technologies (NYSE:DELL) shares fell despite beating Q1 expectations with a 6% YoY revenue increase to $22.24 billion and an adjusted EPS of $1.27. Analysts from Wells Fargo and Morgan Stanley raised their price targets, maintaining Overweight ratings.

Portfolio Pulse from Vaishali Prayag

May 31, 2024 | 6:10 pm

BBY

Best Buy Co Inc (NYSE:BBY) reported first-quarter FY24 earnings, leading to mixed analyst reactions. Truist Securities reiterated a Hold rating with a slight price target reduction, while Goldman Sachs and Telsey Advisory Group maintained positive outlooks with increased price targets. J.P. Morgan also reiterated an Overweight rating. Analysts noted better-than-expected results but highlighted ongoing macroeconomic challenges.

Portfolio Pulse from Shivani Kumaresan

May 31, 2024 | 6:10 pm

AMAT

AMD

ASX

AVGO

ENTG

FORM

KLAC

LRCX

MPWR

MRVL

UMC

Shares of semiconductor stocks are trading lower in possible sympathy with Marvell, which reported worse-than-expected Q1 earnings.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 6:06 pm

NKE

Foot Locker (NYSE:FL) reported better-than-expected comparable sales and adjusted earnings for its fiscal first quarter, indicating progress in its turnaround plan. The company also reaffirmed its full-year outlook, with expectations of growth in comparable sales and adjusted earnings per share. Foot Locker's efforts include revamping stores, enhancing its mobile app and rewards program, and strengthening its partnership with Nike (NYSE:NKE).

Portfolio Pulse from Upwallstreet

May 31, 2024 | 6:03 pm

SNOW

Snowflake Inc. (NYSE:SNOW) shares are trading lower due to a reported data breach and mixed first-quarter results. The company beat revenue estimates but missed earnings expectations and lowered its margin forecasts due to AI infrastructure expenses. Despite this, Snowflake projects strong product revenue growth for the second quarter and full year. Analysts have mixed ratings, with an average 12-month price target suggesting potential upside.

Portfolio Pulse from Erica Kollmann

May 31, 2024 | 6:01 pm

COST

Costco Wholesale Corporation (NASDAQ:COST) reported strong Q3 earnings, beating analyst estimates. Multiple analysts have raised their price targets, citing strong comparable sales, membership growth, and potential future catalysts like a membership fee hike and stock split.

Portfolio Pulse from Chris Katje

May 31, 2024 | 5:54 pm

Dollar General Corp (NYSE:DG) reported better-than-expected first-quarter FY24 earnings. Analysts from Truist Securities, BMO Capital Markets, Telsey Advisory Group, and J.P. Morgan provided mixed reviews, highlighting strategic gains but also emerging risks. Price targets were generally lowered, reflecting cautious optimism.

Portfolio Pulse from Shivani Kumaresan

May 31, 2024 | 5:53 pm