Streetbeat News

Earnings

VIBEF

Vibe Growth Corp (OTCQB:VIBEF) reported mixed Q3 2023 results with a revenue decline of 8.1% to $3.39 million and a net loss of $1.34 million, consistent with the same period in 2022. However, the company saw an improvement in dispensary gross margin to 49.7% and a positive EBITDA of $1.17 million for the quarter. CEO Mark Waldron attributed growth to strategic changes and cost reductions. VIBEF's stock was trading at $0.021 per share.

Portfolio Pulse from Patricio Liddle

November 30, 2023 | 7:22 pm

GSK

PFE

GSK plc's CEO Emma Walmsley is optimistic about the growth potential of their RSV vaccine, Arexvy, expecting sales to exceed £1 billion in its first year. The vaccine has had a strong start in the U.S. and has been approved in Europe, Japan, and other regions. Despite competition from Pfizer Inc and concerns over litigation costs related to Zantac, Walmsley believes these will not affect GSK's capital allocation strategy. GSK shares saw a 1.03% increase to $35.86.

Portfolio Pulse from Vandana Singh

November 30, 2023 | 7:15 pm

FUV

Arcimoto Inc (NASDAQ:FUV) stock is trading lower after a recent rally, with no company-specific news to justify the surge. The selloff may be due to a late filing notice from Nasdaq for its quarterly report and negative reports highlighting financial concerns, such as dwindling cash reserves. Retail traders' concerns about the market resurgence ending and profit-taking after the stock's significant appreciation could also be contributing factors. FUV shares are down 68% year-to-date but up 60% over the past week.

Portfolio Pulse from Adam Eckert

November 30, 2023 | 7:15 pm

CBRL

IMGN

LIZI

POET

PSTG

REX

SNGX

The Nasdaq fell over 100 points while the Dow Jones gained around 300 points. Cracker Barrel's shares slid after reporting a decrease in Q1 revenues and adjusted EPS, missing consensus estimates. Soligenix, REX American Resources, and ImmunoGen saw significant share price increases, with ImmunoGen being acquired by AbbVie. Lizhi Inc., POET Technologies, and Pure Storage experienced notable declines in share prices following their respective earnings reports and public offering news. The health care sector rose, while communication services fell. Oil and gold prices dropped, while silver and copper rose. European shares closed mostly higher, and Asian markets ended on a positive note. U.S. economic data showed mixed results with a slight increase in personal spending and income, a rise in jobless claims, and a drop in pending home sales.

Portfolio Pulse from Lisa Levin

November 30, 2023 | 7:12 pm

DLTR

Dollar Tree Inc (NASDAQ:DLTR) shares rose after Q3 earnings, with analysts noting market share gains at both Dollar Tree and Family Dollar stores. Truist Securities raised the price target from $129 to $135, Goldman Sachs from $137 to $144, and BMO Capital Markets maintained a target of $170. Analysts highlighted solid sales, investments in pricing and stores, and a resilient EPS despite top-line pressures. A Family Dollar store portfolio review was also mentioned as potentially positive.

Portfolio Pulse from Priya Nigam

November 30, 2023 | 7:12 pm

COST

Telsey Advisory Group analyst Joseph Feldman has reiterated an Outperform rating on Costco Wholesale Corporation (NASDAQ:COST), raising the price target from $600 to $625. Costco reported a solid November comp of 3.5%, with core merchandise comp at 4.4%. Traffic increased by 4.8% while the average ticket decreased by 1.3%. Costco is expected to continue as a share gainer with high membership renewal rates and is projected to generate solid EPS growth in FY24. The analyst has raised the 1Q24 EPS estimate to $3.36 from $3.32. COST shares are trading slightly lower at $587.35.

Portfolio Pulse from Nabaparna Bhattacharya

November 30, 2023 | 7:09 pm

SNPS

Synopsys, Inc (NASDAQ:SNPS) sees a record backlog of $8.6 billion in Q4, with analysts from Needham, KeyBanc Capital Markets, and Stifel raising their price targets due to the company's strong performance and fundamental strength. Synopsys reported a 25% year-over-year increase in quarterly revenue at $1.599 billion and provided an FY24 outlook with 13% revenue growth and operating margin expansion. The company is exploring strategic alternatives for its Software Integrity business and maintains a strong position in the EDA and IP sectors, particularly for AI startups. Despite trading lower, analysts justify the premium valuation due to the company's recurring business model and industry-leading profitability.

Portfolio Pulse from Nabaparna Bhattacharya

November 30, 2023 | 6:58 pm

GM

General Motors Co (NYSE:GM) announced a $10 billion share buyback program and a 33% dividend increase, alongside reissued full-year guidance with lower earnings expectations of $11.7-$12.7 billion, down from $12-$14 billion. The guidance adjustment is due to extra labor costs from a UAW settlement. Goldman Sachs raised GM's price target from $42 to $45 with a Buy rating, emphasizing the need for progress in EVs, software, and autonomy. Wedbush maintained an Outperform rating but lowered its target from $46 to $40.

Portfolio Pulse from Neil Dennis

November 30, 2023 | 6:24 pm

MRK

Merck & Co Inc. (NYSE:MRK) saw a slight increase of 0.07% to $101.20 in the current market session, despite a decrease over the past month and year. The stock's P/E ratio of 56.18 is higher than the Pharmaceuticals industry average of 35.89, which could suggest that Merck is expected to perform better or may be overvalued.

Portfolio Pulse from Benzinga Insights

November 30, 2023 | 6:15 pm

TITN

Titan Machinery Inc. (TITN) shares dropped by 8.1% to $23.41 due to weaker-than-expected quarterly earnings and sales. The company reported earnings of $1.32 per share, missing estimates of $1.53 per share, and sales of $694.12 million, below the expected $727.20 million. Other stocks experienced significant movements in Thursday's mid-day session, with notable gainers and losers across various sectors.

Portfolio Pulse from Lisa Levin

November 30, 2023 | 6:13 pm