Streetbeat News

Earnings

GTEC

Greenland Technologies Holding Corp (GTEC) shares dropped over 12% after reporting Q3 FY23 results with revenue of $21.84 million, missing the consensus estimate of $24.27 million. The company sold more transmission products compared to the previous year and saw a 30.3% increase in gross profit, with a higher gross margin due to a shift towards higher value products. However, GTEC reported an EPS loss of $(0.07), which was below the expected $0.06 EPS. Despite challenges, the company has $21.54 million in cash and equivalents as of September 30, 2023.

Portfolio Pulse from Lekha Gupta

November 20, 2023 | 4:00 pm

AAPL

GOOGL

META

MSFT

NVDA

QQQ

SPY

TSLA

The Market Clubhouse Morning Memo provides daily trading strategies for SPY, QQQ, AAPL, MSFT, GOOGL, TSLA, META, and NVDA, based on a proprietary formula considering price, volume, and options flow. The memo outlines potential support and resistance levels for each asset, suggesting possible breakouts or reversals. Microsoft is noted for a premarket spike due to a new AI team, while NVIDIA's upcoming earnings announcement is highlighted as a key event. The focus for the week is on AI and technology companies, with traders advised to stay alert for market movements.

Portfolio Pulse from RIPS

November 20, 2023 | 3:37 pm

YMM

Full Truck Alliance Co Ltd (NYSE:YMM) reported a 25.2% year-over-year increase in Q3 FY23 sales, reaching ¥2.26 billion ($310.30 million). The growth was driven by a 25.8% rise in freight matching services revenues. Adjusted operating income surged by 88.8% Y/Y to ¥458.5 million, and adjusted net income per ADS increased to ¥0.78 ($0.11) from ¥0.46 a year ago. The company experienced a rise in general and administrative expenses due to higher share-based compensation and a settlement of a U.S. securities class action. YMM's cash and equivalents totaled $3.8 billion as of September 30, 2023. The company also repurchased 22.8 million ADSs for $147.3 million. With a 27.0% increase in fulfilled orders and a 15.0% rise in average shipper MAU, YMM expects Q4 revenues to grow by 18.2%-20.6% Y/Y. YMM shares rose by 14.19% to $8.01.

Portfolio Pulse from Lekha Gupta

November 20, 2023 | 3:22 pm

NIO

NIO Inc (NYSE:NIO) shares are trading higher on Monday, potentially due to positive comments from the company's president, Qin Lihong, at the Guangzhou auto show. Qin dismissed rumors of the company nearing bankruptcy, emphasizing Nio's 40% growth and the need to improve growth trajectory. Additionally, Nio's announcement of its 2,100th power swap station becoming active may have contributed to the positive sentiment. Investors are anticipating Nio's third-quarter financial results, following a previous quarter where the company missed analyst expectations but reported having $4.3 billion in liquidity and investments.

Portfolio Pulse from Adam Eckert

November 20, 2023 | 3:22 pm

Zoom Video Communications Inc (NASDAQ:ZM) is set to report Q3 earnings with an expected EPS of $1.08 and revenue of $1.12 billion. Analysts will focus on growth metrics for Zoom Phone, Contact Center, and Zoom One, as well as a return to Zoom Meetings. Zoom's financial health is strong with a free cash flow yield of 8.7%, $6 billion in cash reserves, and no long-term debt. The stock is rated Neutral with a consensus price target of $89.81, and Citigroup upgraded it from Sell to Neutral with a $66 target. Shares are up 1.8% to $65.32.

Portfolio Pulse from Surbhi Jain

November 20, 2023 | 3:18 pm

WSFS

KBRA released its Q3 2023 U.S. Bank Compendium and 2024 Outlook, indicating a Stable outlook for the U.S. banking industry. The report suggests that most banks with KBRA ratings will maintain their ratings in an uncertain economic environment. It covers earnings, NIM stabilization, funding costs, credit trends, and capital measures. WSFS Financial Corporation (NASDAQ:WSFS) is featured with an A-/Stable outlook. The Compendium includes various performance metrics and a quarterly ESG bulletin.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 3:09 pm

MNOV

MediciNova's stock price has increased following the announcement of positive data and results from its Phase 2 MN-166 trial in glioblastoma.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 3:08 pm

ADTN

Ubiquiti (NYSE:UI) is set to distribute a dividend of $0.60 per share with an annualized yield of 1.93% to shareholders on record as of November 10, 2023. The company has shown a positive trend in dividend per share growth from $1.10 in 2019 to $2.40 in 2022, and an increase in earnings per share from $5.22 to $5.58 over the same period. Ubiquiti's financial health appears robust, with a consistent dividend payout schedule and growing earnings, indicating potential for future dividend increases. The company's dividend yield is moderate compared to industry peers, with Adtran (NASDAQ:ADTN) leading at 6.49% annualized yield.

Portfolio Pulse from Benzinga Insights

November 20, 2023 | 3:05 pm

GABC

PFS

German American Bancorp (NASDAQ:GABC) is distributing a $0.25 per share dividend with a 3.69% yield. Shareholders as of November 9, 2023, are eligible. The company has shown consistent dividend growth from $0.68 in 2019 to $0.92 in 2022, and earnings growth from $2.30 to $3.14 per share over the same period. Provident Financial Services (NYSE:PFS) has a higher yield at 6.13%.

Portfolio Pulse from Benzinga Insights

November 20, 2023 | 3:05 pm

BRY

KRP

Kimbell Royalty Partners (NYSE:KRP) is distributing a dividend of $0.51 per share today, with an annualized yield of 12.66%. The dividend went ex-dividend on November 10, 2023. The company has shown a steady increase in dividend per share from $1.58 in 2019 to $1.88 in 2022, and earnings per share have grown from $-1.58 to $1.71 over the same period. This suggests a strong financial position and potential for future dividend increases. Berry Corp (NASDAQ:BRY) has the highest annualized dividend yield in the industry at 13.82%.

Portfolio Pulse from Benzinga Insights

November 20, 2023 | 3:05 pm