Streetbeat News

Earnings

CLSK

PATH

SMCI

TSLA

ULTA

The stock market had mixed results with the S&P 500 up, Nasdaq down, and the Dow Jones gaining. Super Micro Computer (SMCI) fell after announcing a public offering. CleanSpark (CLSK) dropped post-earnings report. Tesla (TSLA) declined around its Cybertruck event. UiPath (PATH) slightly fell, with focus on its Q3 earnings and AI investment. Ulta Beauty (ULTA) rose after positive Q3 earnings and sales trends.

Portfolio Pulse from Benzinga Neuro

December 01, 2023 | 3:19 am

POSAF

POSaBIT Systems Corporation, a cannabis payment solutions provider, reported increased financial performance for Q3 2023. Transactional sales rose 11% to $157.9 million, total revenue increased 32% to $13.6 million, and gross profit went up 10% to $3.2 million. However, the company faced an operating loss of $0.26 million and a net loss of $7.5 million, which included non-cash impairment and derivative liabilities. Adjusted EBITDA was $33 thousand. The company has recovered to 75% of its processed volume after a decline in PIN Debit Processing acceptance rate and is expanding its market share. POSaBIT extended its credit facility with Perga Capital and plans to list on the TSXV. Shares of POSAF surged 67.41% to $0.45.

Portfolio Pulse from Joana Scopel

December 01, 2023 | 12:42 am

ESTC

Elastic NV (ESTC) stock surged in after-hours trading following the company's Q2 earnings report, which exceeded analyst expectations. Elastic reported earnings of 37 cents per share, surpassing the consensus estimate of 24 cents, and quarterly sales of $310.61 million, beating the estimate of $304.11 million. The company also saw an increase in subscription customers and provided positive guidance for Q3 and full-year 2024, with anticipated earnings and revenue above estimates. CEO Ash Kulkarni highlighted investments in AI and the Elastic Relevance Engine as key drivers of customer engagement.

Portfolio Pulse from Ryan Gustafson

November 30, 2023 | 10:30 pm

DELL

Dell Technologies Inc. (NYSE:DELL) reported mixed Q3 earnings with EPS of $1.88 beating estimates but revenue of $22.25 billion missing expectations. Year-over-year, earnings decreased by 18.26% and revenue by 9.99%. The Infrastructure Solutions Group saw a 12% decline in revenue, although servers and networking grew 9% sequentially. Dell's cash flow from operations was strong at $2.2 billion for the quarter and $9.9 billion over the last 12 months. The company returned $1 billion to shareholders through buybacks and dividends. After an initial drop, Dell's stock recovered slightly in after-hours trading.

Portfolio Pulse from Ryan Gustafson

November 30, 2023 | 10:06 pm

BGI

Birks Group has reported a sales growth of 9.7% and a comparable store sales growth of 4.3% for the twenty-six week period ended September 23, 2023.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 10:06 pm

MRVL

Marvell Technology, Inc. (NASDAQ:MRVL) reported Q3 earnings with adjusted EPS of $0.41, surpassing estimates by $0.01. Revenue was $1.419 billion, exceeding expectations and marking a 6% sequential growth, but an 8% year-over-year decrease. The company's gross margin was 38.9%, and it had $725.6 million in cash. Q4 outlook anticipates revenue of $1.420 billion and non-GAAP EPS of $0.46. The stock rose 1.47% in after-hours trading.

Portfolio Pulse from Ryan Gustafson

November 30, 2023 | 9:42 pm

GCT

GigaCloud Technology anticipates its Q4 total revenues to range between $217 million and $223 million.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 9:37 pm

PATH

UiPath Inc (NYSE:PATH) reported Q3 earnings that exceeded expectations, with revenue of $325.92 million and EPS of 12 cents, surpassing estimates of $315.55 million and 7 cents, respectively. The company's revenue and annual recurring revenue both increased by 24% year-over-year. UiPath ended the quarter with $1.8 billion in cash and investments and continues to invest in AI. The company's Q4 revenue outlook is $381 million to $386 million, with an expected adjusted operating income of about $78 million. After the earnings report, PATH shares surged by 11.9% in after-hours trading to $22.19.

Portfolio Pulse from Adam Eckert

November 30, 2023 | 9:34 pm

ASTI

DOMO

IFBD

IOT

MINM

MRIN

MTC

PATH

SASI

SGN

SLNH

SMCI

In Thursday's after-market session, several information technology stocks showed significant movement. Marin Software (MRIN) saw a substantial increase of 39.6%, while Samsara (IOT) and UiPath (PATH) also rose following their Q3 earnings reports. Soluna Holdings (SLNH), Domo (DOMO), and Minim (MINM) experienced gains as well. Conversely, MMTEC (MTC), Infobird Co (IFBD), Super Micro Computer (SMCI), Ascent Solar Technologies (ASTI), Sigma Additive Solutions (SASI), and Signing Day Sports (SGN) saw their stock prices decline.

Portfolio Pulse from Benzinga Insights

November 30, 2023 | 9:30 pm

DOMO

Domo (NASDAQ:DOMO) reported Q3 earnings with an EPS of $0.0, missing the estimated $-0.12. Revenue increased by $649 thousand year-over-year. Despite beating EPS estimates last quarter, DOMO's share price fell by 35.8% the following day. Historical earnings data shows mixed performance in meeting EPS estimates.

Portfolio Pulse from Benzinga Insights

November 30, 2023 | 9:30 pm