Streetbeat News

Earnings

ALLR

DBI

IBIO

REPL

SJM

SOAR

WNW

U.S. stocks traded lower with the Nasdaq Composite down over 50 points. J.M. Smucker Company (NYSE:SJM) reported Q2 earnings with sales of $1.94 billion, missing estimates but beating EPS expectations and revising FY24 EPS guidance. Volato Group, Inc. (NYSE:SOAR), Allarity Therapeutics, Inc. (NASDAQ:ALLR), and Meiwu Technology Company Limited (NASDAQ:WNW) saw their shares rise significantly. Conversely, Replimune Group, Inc. (NASDAQ:REPL), iBio, Inc. (NYSE:IBIO), and Designer Brands Inc. (NYSE:DBI) experienced sharp declines in their share prices.

Portfolio Pulse from Lisa Levin

December 05, 2023 | 2:39 pm

BYND

Beyond Meat Inc (NASDAQ:BYND) has experienced a 24% stock increase over five days despite a year-to-date decline of over 30%. This surge is attributed to a potential short squeeze, evidenced by a high FINRA short sale volume on Dec. 4. The company recently announced a 19% workforce reduction and faces financial challenges, including a high cash burn rate and declining revenue. Analysts have downgraded BYND and lowered price targets to $5-$7 following its Q3 report. The stock was trading at $8.42 at the time of publication.

Portfolio Pulse from Surbhi Jain

December 05, 2023 | 2:29 pm

CVS

PBJ

On CNBC's 'Halftime Report Final Trades,' experts shared their picks including U.S. 1 Year Treasury Bill, CVS Health Corporation, Morgan Stanley, and Invesco Food & Beverage ETF. CVS Health reported a 10.6% increase in Q3 sales, beating estimates, and is set for Investor Day on Dec. 5, 2023. Morgan Stanley appointed a new CEO effective Jan. 1. CVS Health, Morgan Stanley, and Invesco Food & Beverage ETF all saw positive price action on Monday.

Portfolio Pulse from Lisa Levin

December 05, 2023 | 2:25 pm

HOV

Hovnanian Enterprises expects Q1 revenues to be in the range of $525M-$625M with an adjusted homebuilding gross margin projected to be between 22.0% and 23.5%.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 2:25 pm

Kroger Company (NYSE:KR) reported Q3 FY23 sales of $33.96 billion, slightly down by 0.7% YoY but above analyst estimates of $33.92 billion. Adjusted EPS was 95 cents, beating the 91 cents consensus. Kroger's annual dividend yield is 2.60%, with a quarterly dividend of 29 cents per share. To earn $500 monthly from dividends, an investment of approximately $231,033 or 5,172 shares is needed. The article also explains how dividend yield is calculated and its dependence on stock price and dividend payments. KR shares rose 0.2% to close at $44.67 on Monday.

Portfolio Pulse from Lisa Levin

December 05, 2023 | 2:24 pm

HOV

Hovnanian Enterprises (NYSE:HOV) reported a significant increase in Q4 earnings per share (EPS) to $13.05, up 80.25% from $7.24 in the same quarter last year. Sales saw a marginal increase to $887.03M from $886.79M YoY.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 2:22 pm

AAPL

BLK

EADSY

ERIC

IBM

META

MMSI

MSFT

MSTR

NIO

TSLA

Cryptocurrencies Bitcoin, Ethereum, and Dogecoin experienced a spike due to 'panic buying' and a weak dollar. BlackRock received seed funding for a Bitcoin ETF, and MicroStrategy profited as Bitcoin rallied. In Brazil, legislation drafted by ChatGPT was passed unanimously. In the US, stocks like Merit Medical Systems moved lower in pre-market, while investor sentiment remained in the 'greed' zone. Tech companies like IBM, Meta, and Microsoft announced significant developments. Electric vehicle companies like Nio, Tesla, and Ford reported on sales and legal challenges. General Motors and Dave & Buster's faced business hurdles, while Ericsson secured a major deal. Airbus is close to its 2023 delivery target.

Portfolio Pulse from Akanksha Bakshi

December 05, 2023 | 2:21 pm

ALLR

Allarity Therapeutics' stock (ALLR) is trading higher following the announcement of positive initial results from its Phase 2 clinical trial for stenoparib in advanced ovarian cancer.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 2:21 pm

GME

GameStop Corp (NYSE:GME) shares have seen an 11% increase on Monday, contributing to a more than 25% gain over the past five trading days. The rise is attributed to strong retail interest, possibly bolstered by successful Black Friday and Cyber Monday sales. Investors are also reacting to the anticipation of GameStop's earnings report, expected after market close on December 6, with an estimated loss of 8 cents per share and revenue of $1.18 billion. Last quarter, GameStop exceeded expectations with a loss of 3 cents per share on revenue of $1.16 billion.

Portfolio Pulse from Adam Eckert

December 05, 2023 | 2:19 pm

CVS

During CVS's Investor Day, an executive mentioned that the implementation of a new pharmacy pricing model for commercial insurance in 2025 could lead to flat results in pharmacy and consumer wellness, as opposed to a 5% decline.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 2:09 pm