Streetbeat News

Earnings

FTCH

GME

KAVL

LESL

NEGG

ROVR

WOOF

In Wednesday's intraday session, several consumer discretionary stocks experienced significant movements. Kaival Brands Innovations (KAVL) saw a 37.6% increase, while Farfetch (FTCH) dropped by 49%. Other notable gainers include Rover Group (ROVR), GameStop (GME), Foot Locker (FL), and Newegg Commerce (NEGG). On the losing side, Petco Health and Wellness (WOOF), Sonder Holdings (SOND), and Leslies (LESL) saw substantial declines. Earnings releases influenced some of these movements, with Foot Locker's Q3 earnings and Petco's Q3 earnings being released today, and Leslies' Q4 earnings released yesterday.

Portfolio Pulse from Benzinga Insights

November 29, 2023 | 5:31 pm

COMSP

NTAP

SGE

WDAY

In Wednesday's intraday session, several information technology stocks experienced significant movements. Strong Global (SGE) saw a 24.8% increase, while NetApp (NTAP) and Workday (WDAY) rose 15.24% and 12.91% respectively, following their earnings reports. UTime (WTO), WaveDancer (WAVD), and Alpha Technology Group (ATGL) also saw gains. Conversely, ComSovereign Holding (COMSP), WeTrade Group (WETG), MicroAlgo (MLGO), CoreCard (CCRD), Jabil (JBL), and MicroCloud Hologram (HOLO) faced declines, with COMSP dropping 41%.

Portfolio Pulse from Benzinga Insights

November 29, 2023 | 5:30 pm

CSCO

SPLK

Splunk Inc (SPLK) shares saw an early rise after reporting strong Q3 results, driven by cybersecurity demand. Analysts from Truist Securities, Mizuho Securities, Needham, and KeyBanc Capital Markets provided insights, with a common price target of $157. Truist downgraded SPLK from Buy to Hold, while others maintained Neutral or Sector Weight ratings. Cisco Systems Inc. (CSCO) plans to acquire SPLK for $157 per share in cash, expected to close by end of 2024. The acquisition is seen as favorable for Splunk's shareholders and reasonable for Cisco.

Portfolio Pulse from Priya Nigam

November 29, 2023 | 5:29 pm

AMZN

WMT

Cyber Five online sales in the U.S. showed mixed results, with Adobe Analytics reporting a 7.8% increase to $38 billion, while Salesforce reported a lower growth rate. Amazon led with record sales of 1 billion items and plans to continue its sales event until Dec. 24. Bank of America analyst Justin Post reiterated a Buy rating on Amazon with a price target of $168 and on Wayfair with a price target of $72. AMZN shares traded slightly lower, while W shares traded higher.

Portfolio Pulse from Anusuya Lahiri

November 29, 2023 | 5:21 pm

VRT

Vertiv Holdings Co (NYSE:VRT) has raised its FY23 guidance due to strong demand for its digital infrastructure products and services. The company increased its net sales guidance, organic net sales growth, and adjusted EPS. Additionally, Vertiv announced a $3 billion share repurchase program and an increase in its annual cash dividend for 2023. Despite the positive news, VRT shares are trading lower by 1.517% at $41.61.

Portfolio Pulse from Shivani Kumaresan

November 29, 2023 | 5:12 pm

BIVI

FLNC

FTCH

ROVR

SEEL

VVOS

U.S. stocks traded higher, with the Dow Jones, NASDAQ, and S&P 500 all seeing gains. Real estate shares led the market, while communication services lagged. Crude oil inventories rose less than in the previous period, contrary to market expectations of a decline. Vivos Therapeutics' shares surged after FDA clearance for its sleep apnea treatment. Rover Group's stock spiked following the announcement of its acquisition by Blackstone. Fluence Energy's shares increased after reporting Q4 results and FY24 revenue guidance. BioVie, Seelos Therapeutics, and Farfetch saw significant share price drops due to negative trial results, a public offering, and a delay in financial results, respectively.

Portfolio Pulse from Lisa Levin

November 29, 2023 | 5:05 pm

WETG

WeTrade Group Inc. (NASDAQ:WETG) disclosed that its Q3 financial statements were falsely reported and not released by current management. Discrepancies include incorrect office address, misrepresented cash and bank deposits, unreported comprehensive income from a subsidiary, undisclosed BTC strategy funding, false claims of subsidiary dissolution and employee payments, inaccurate share capital information, and unmentioned legal proceedings. The report's validity is questioned, impacting trust and regulatory compliance.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 4:55 pm

INTU

Intuit's stock is trading higher following the announcement of their Q1 financial results, which surpassed expectations. The company also provided positive guidance for future performance.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 4:47 pm

AAPL

AMZN

GLD

GOOG

META

MSFT

NEM

NVDA

QQQ

SLV

SPY

TSLA

USO

The SPDR Gold Trust (GLD) is at an inflection point, with gold rallying and potentially breaking out from a long-term cup and handle pattern. The Arora Report suggests ignoring both perma gold bulls and crypto enthusiasts who downplay gold's value. Newmont Corporation (NEM) was the top performer in the S&P 500 recently. The article also notes positive early trade money flows in major tech stocks (AAPL, AMZN, GOOG, META, MSFT, NVDA, TSLA) and ETFs (SPY, QQQ). The U.S. GDP growth rate of 5.2% challenges the expectation of a Fed rate cut in Q1 2024. The Arora Report advises investors to prepare for various market scenarios with a protection band strategy.

Portfolio Pulse from The Arora Report

November 29, 2023 | 4:46 pm

NAT

Nordic American Tankers Ltd (NYSE:NAT) reported Q3 FY23 earnings with net voyage revenue of $48.04 million, up 1.4% Y/Y but below the $59.14 million consensus. EPS was $0.04, down from $0.05 in 3Q22 and missing the $0.05 consensus. Operating income and adjusted EBITDA also declined Y/Y. The company declared a $0.06 dividend per share, with a new Suezmax tanker delivery scheduled for December 4, 2023. NAT shares fell 8.4% to $3.92.

Portfolio Pulse from Akanksha Bakshi

November 29, 2023 | 4:45 pm