Streetbeat News

Earnings

DIS

HON

SNOW

Snowflake Inc (NYSE:SNOW) is set to report Q3 earnings with an expected EPS of 16 cents and revenue of $713.42 million. Analysts are focusing on cloud optimization challenges and potential AI benefits from new products like Snowflake Cortex. The stock is trading at a high P/E ratio of 246, posing downside risks if growth doesn't stabilize. Analyst ratings are generally positive, with a consensus price target of $183.27, while Morgan Stanley has a higher target of $215. Shares were up 0.73% at $171.55 recently.

Portfolio Pulse from Surbhi Jain

November 29, 2023 | 1:31 pm

SPY

The U.S. Gross Domestic Product (GDP) for the third quarter (Q3) has been reported to increase by 5.2%, surpassing the estimated 4.9%.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 1:30 pm

PCSA

Processa Pharmaceuticals, Inc. (PCSA) CEO George Ng issued a shareholder letter detailing the company's pivot to oncology drug development, focusing on Next Generation Chemotherapy (NGC) agents to improve safety and efficacy for cancer patients. The letter outlines the current pipeline, including NGC-Capecitabine (PCS6422), NGC-Gemcitabine (PCS3117), and NGC-Irinotecan (PCS11T), all targeting various cancers. Processa aims to address chemotherapy's limitations and expand its market, leveraging a strong team and regulatory science approach. The company has a stable financial position with $6.9 million in cash as of September 30, 2023, and plans to out-license non-NGC assets to supplement funding. Upcoming milestones include completing Phase 1b study enrollment for NGC-Cap by early 2024 and meeting with the FDA to discuss Phase 2 study designs.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 1:18 pm

NEGG

ROVR

SGC

TAL

TXRH

Five consumer discretionary stocks are considered overbought based on their RSI values, which may signal a potential short-term decline. Newegg Commerce (NEGG) authorized a share repurchase program, Superior Group of Companies (SGC) reported strong Q3 earnings, TAL Education Group (TAL) exceeded quarterly expectations, Texas Roadhouse (TXRH) had weaker Q3 earnings but solid sales growth, and Rover Group (ROVR) posted strong Q3 results and raised FY23 guidance.

Portfolio Pulse from Lisa Levin

November 29, 2023 | 1:16 pm

DLTR

Dollar Tree, Inc. (NASDAQ:DLTR) reported Q3 FY23 sales of $7.31 billion, missing estimates of $7.40 billion, and adjusted EPS of $0.97, below the consensus of $1.01. Same-store sales increased 3.9%, but gross margin declined due to various factors. The company repurchased shares, opened new stores, and is reviewing its Family Dollar portfolio. Q4 sales are projected between $8.6 billion and $8.8 billion, with EPS of $2.58-$2.78. The FY23 sales outlook was revised down to $30.5 billion-$30.7 billion, with EPS of $5.81-$6.01. DLTR shares fell 2.19% in premarket trading.

Portfolio Pulse from Nabaparna Bhattacharya

November 29, 2023 | 1:12 pm

MIRA

MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) announced that its product Ketamir-2, an oral formulation for depression treatment, has a predicted oral bioavailability of 80%. This is significantly higher than the current oral or intranasal absorption of ketamine. The company's lead developer highlighted the potential for Ketamir-2 to offer ease of administration and fewer side effects. IQVIA's analysis predicts that Ketamir-2 could generate an average annual sales of $3 billion by 2035, addressing the therapeutic gap in treatment-resistant depression (TRD) and major depressive disorder with suicidal ideation (MDSI). MIRA Pharmaceuticals is advancing clinical development and focusing on confirming the safety and efficacy of Ketamir-2.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 1:11 pm

WDAY

Workday, Inc. (NASDAQ:WDAY) shares increased by approximately 9% in pre-market trading following the company's release of third-quarter earnings that exceeded expectations. Workday reported earnings of $1.56 per share, surpassing the estimated $1.41 per share, and revenue of $1.87 billion, which was higher than the forecasted $1.848 billion. The company expects fourth-quarter subscription revenue of $6.598 billion and adjusted operating margins of 23.8%. Piper Sandler maintained an Overweight rating on Workday and increased the price target from $275 to $300. The article also lists other stocks that moved in pre-market trading, with some experiencing significant gains and others facing declines.

Portfolio Pulse from Lisa Levin

November 29, 2023 | 1:11 pm

ROAD

Construction Partners, Inc. reported a project backlog of $1.60 billion as of September 30, 2023, showing an increase from $1.41 billion year-over-year and a slight rise from $1.59 billion as of June 30, 2023.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 1:09 pm

AMBO

AYRO

FTCH

FUV

GME

JFBR

LESL

NEGG

SNBR

WOOF

In Wednesday's pre-market session, several consumer discretionary stocks showed significant movement. Jeffs Brands (JFBR), GameStop (GME), Newegg Commerce (NEGG), Arcimoto (FUV), and Foot Locker (FL) experienced gains, with Foot Locker's Q3 earnings released today. Conversely, Leslies (LESL), Petco Health and Wellness (WOOF), Ambow Education Holding (AMBO), Farfetch (FTCH), AYRO, and Sleep Number (SNBR) saw their stock prices fall, with LESL, WOOF, AMBO, and FTCH's earnings reports influencing their stock movements.

Portfolio Pulse from Benzinga Insights

November 29, 2023 | 1:07 pm

CBAT

ESGL

EVTL

FLNC

MCOM

MVST

MYNA

NCL

NEOV

PESI

TYGO

VIEW

In Wednesday's pre-market session, several industrial stocks showed significant movement. Fluence Energy's (FLNC) shares surged 14.9% after Q4 earnings release, while Mynaric (MYNA), Tigo Energy (TYGO), Vertical Aerospace (EVTL), Perma-Fix Environmental Services (PESI), and Microvast Holdings (MVST) also saw gains. Conversely, Northann (NCL), Micromobility com (MCOM), View (VIEW), CBAK Energy Tech (CBAT), ESGL Holdings (ESGL), and NeoVolta (NEOV) experienced declines.

Portfolio Pulse from Benzinga Insights

November 29, 2023 | 1:06 pm