Streetbeat News

Earnings

RMBS

Rambus has reported its Q3 financial results and issued Q4 licensing billings guidance, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 6:54 pm

MSCI

Investment research firm MSCI Inc reported Q3 FY23 revenue growth of 11.6% YoY to $625.44 million, slightly below consensus estimates. Adjusted EPS of $3.45 beat the consensus of $3.32. The firm saw significant growth in its ESG and Climate segment, with revenues growing 26.8% YoY to $73 million. MSCI's recent acquisitions of Burgiss and Trove are expected to strengthen its portfolio solutions. Despite the strong results, MSCI shares traded lower by 2.00% at $472.35.

Portfolio Pulse from Anusuya Lahiri

October 31, 2023 | 6:51 pm

PSMT

PriceSmart shares are trading lower following the company's worse-than-expected Q4 adjusted EPS results.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 6:49 pm

DHR

SYK

TMO

Shares of healthcare equipment and lifesciences tools are trading higher, possibly in sympathy with GE HealthCare's better-than-expected Q3 financial results.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 6:34 pm

CDIO

GPN

GRTX

KTRA

SIEN

SPRC

WOLF

The Dow Jones index gained around 50 points on Tuesday, with real estate shares jumping by 1.3%. Global Payments Inc reported better-than-expected Q3 earnings, with adjusted net revenue rising 9% Y/Y to $2.232 billion. SciSparc Ltd, Cardio Diagnostics Holdings, and Wolfspeed, Inc saw their shares rise significantly. However, Kintara Therapeutics, Galera Therapeutics, and Sientra, Inc saw their shares drop due to various setbacks.

Portfolio Pulse from Lisa Levin

October 31, 2023 | 6:32 pm

PLNT

Stifel analyst Chris O'Cull reiterated a Buy rating on Planet Fitness Inc (PLNT) with a price target of $65.00. The company is expected to report its Q3 FY23 earnings on November 7, 2023. The analyst noted that Planet Fitness' domestic system added 23-28 net units during Q3, falling short of the +33 unit Street mean. This could lead to the company lowering its unit growth outlook again. Despite these challenges, the analyst remains positive on the shares due to several opportunities to improve new unit returns for franchisees.

Portfolio Pulse from Shivani Kumaresan

October 31, 2023 | 6:31 pm

THC

Tenet Healthcare Corp (THC) reported Q3 net operating income of $101 million, down from $131 million in the prior year. However, Q3 adjusted EPS was $1.44, beating the consensus of $1.20. Net operating revenues for the quarter were $5.07 billion, up from $4.80 billion, beating the consensus of $5.02 billion. The company tightened its guidance for Q4 and FY23.

Portfolio Pulse from Vandana Singh

October 31, 2023 | 6:30 pm

ANET

Arista Networks (NYSE:ANET) reported better-than-expected Q3 results and issued strong Q4 revenue guidance. Revenue grew 28.3% Y/Y to $1.509 billion, beating the consensus of $1.480 billion. Adjusted EPS of $1.83 surpassed the consensus of $1.58. For Q4, Arista expects revenues of $1.500 billion-$1.550 billion vs. consensus of $1.47 billion. Following the earnings announcement, several analysts raised their price targets on Arista Networks.

Portfolio Pulse from Lisa Levin

October 31, 2023 | 6:22 pm

CGC

Canopy Growth Corporation (NASDAQ:CGC) shares are trading higher by more than 9% on Tuesday, despite a lack of company-specific news. The stock is attempting to recover after falling 8% in the last five days and more than 25% over the last month. The company is set to release its Q2 financial results on Nov. 9, with an expected loss of 15 cents per share and estimated quarterly revenue of $92.3 million. On Oct. 11, the company announced that it received EU GMP certification for its cannabis cultivation facility in Ontario.

Portfolio Pulse from Erica Kollmann

October 31, 2023 | 6:22 pm

ABEV

Ambev's shares are trading higher following the release of its Q3 financial results.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 6:16 pm