Streetbeat News

Earnings

COST

Costco Wholesale Corporation (NASDAQ:COST) is set to report its Q3 earnings on May 30. Analysts expect revenue of $58.07 billion and EPS of $3.70. Key items to watch include foot traffic data, potential membership fee increases, and market share gains. Analysts have given mixed ratings but generally positive price targets.

Portfolio Pulse from Chris Katje

May 29, 2024 | 6:33 pm

AAL

ANF

BNAI

FFIE

HLTH

LUCY

RSLS

U.S. stocks traded lower with the S&P 500 down 0.5%. Abercrombie & Fitch reported better-than-expected earnings and raised guidance. ReShape Lifesciences, Brand Engagement Network, and Innovative Eyewear saw significant stock price increases, while Cue Health, American Airlines, and Faraday Future experienced sharp declines.

Portfolio Pulse from Avi Kapoor

May 29, 2024 | 6:33 pm

SOHO

Sotherly Hotels has received a notice from Nasdaq for failing to timely file its quarterly report for Q1 2024.

Portfolio Pulse from Benzinga Newsdesk

May 29, 2024 | 6:04 pm

RBLX

Roblox Corp (NYSE:RBLX) faces a bearish outlook due to mixed earnings, a downgraded forecast, and the formation of a Death Cross. Despite some positive metrics, the stock has declined significantly, and analysts have reduced its price target.

Portfolio Pulse from Surbhi Jain

May 29, 2024 | 5:44 pm

THR

Thermon Group Holdings, Inc. (NYSE:THR) reported a 4% Y/Y increase in Q4 FY24 revenue to $127.7 million, beating consensus estimates. Despite this, shares are trading lower due to a 6% decline in adjusted EBITDA and a 17% drop in adjusted EPS. The company has set optimistic FY25 revenue and EPS goals.

Portfolio Pulse from Lekha Gupta

May 29, 2024 | 5:41 pm

AAL

AAP

ANF

CHWY

COP

DKS

HEI

MRO

OZK

TLT

UUP

VIK

Volatility surged in the market as Treasury yields and the US dollar climbed ahead of key economic releases. The CBOE Volatility Index (VIX) spiked 9%, and the yield on the 30-year Treasury note rose to 4.74%. The iShares 20+ Year Treasury Bond ETF (TLT) fell 1.3%, while the Invesco DB USD Index Bullish Fund ETF (UUP) rose 0.5%. Major US equity indices and sectors traded in the red. American Airlines (AAL) tumbled 14% after trimming Q2 earnings guidance and receiving analyst downgrades. ConocoPhillips (COP) announced an all-stock deal to buy Marathon Oil (MRO), with COP shares falling 4% and MRO rising 8%. Bank OZK (OZK) dropped 14% following a downgrade from Citigroup. Dicks Sporting Goods (DKS) spiked 15% after beating earnings expectations. Other notable stock movements included Heico Corp. (HEI) up 2.1%, Viking Holdings (VIK) down 2.7%, Chewy Inc. (CHWY) up 29%, Abercrombie & Fitch (ANF) up 22%, and Advance Auto Parts (AAP) down 8%.

Portfolio Pulse from Piero Cingari

May 29, 2024 | 5:32 pm

BMO

FFIE

RSLS

Bank of Montreal (NYSE:BMO) shares fell 7.1% after reporting worse-than-expected Q2 earnings. Other notable stock movements include ReShape Lifesciences Inc. (NASDAQ:RSLS) jumping 82.8% due to a new patent, and Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) falling 38.8% after disappointing revenue results.

Portfolio Pulse from Avi Kapoor

May 29, 2024 | 5:28 pm

CAVA

Cava Group Inc (NYSE:CAVA) reported better-than-expected earnings for Q1, with revenue up 30.3% year-over-year and earnings per share of 12 cents, beating estimates. CEO Brett Schulman attributes success to Cava's unique value proposition, attracting consumers trading down from casual dining and up from fast food. The company plans to open 50-54 new restaurants in 2024.

Portfolio Pulse from Adam Eckert

May 29, 2024 | 5:20 pm

AAPL

AMZN

GOOG

GOOGL

MAGS