Streetbeat News

Earnings

UA

Kevin Plank, founder of Under Armour, Inc. (NYSE:UA), shares his journey from starting in his grandmother's basement to building a $5 billion empire. Plank's initial capital came from his college rose business and a $40,000 credit card opportunity. Under Armour's growth from $17,000 in sales in 1996 to $5.74 billion in revenue in FY2023 is highlighted, with a significant portion of sales coming from apparel. The company has a strong direct-to-consumer presence and a brand relationship with NBA star Stephen Curry. Under Armour is part of the S&P 400 MidCap Index and its stock closed up 0.94% at $7.54.

Portfolio Pulse from Shanthi Rexaline

November 29, 2023 | 10:31 am

BILI

Bilibili (NASDAQ:BILI) reported Q3 earnings with an EPS of $-0.29, missing estimates by 11.54% compared to the expected $-0.26. Revenue decreased by $18.80 million from the same period last year. In the previous quarter, BILI beat EPS estimates but experienced a 6.38% share price drop the following day.

Portfolio Pulse from Benzinga Insights

November 29, 2023 | 10:15 am

BILI

Bilibili reported Q3 adjusted EPS of $(0.29), an improvement from $(0.63) YoY. However, sales decreased to $795.70M from $814.50M YoY, indicating a 2.31% decline.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 10:02 am

BABA

PDD

Jack Ma, co-founder of Alibaba Group Holding Ltd. (NYSE:BABA), has called for strategic changes within the company in an internal memo, while praising the strategic moves of rival PDD Holdings Inc (NASDAQ:PDD). Ma, who stepped back from Alibaba in 2020, has re-engaged with the company's direction amidst its challenges, including a slower economic recovery, rising competition, and internal organizational changes. Alibaba's shares in Hong Kong responded to Ma's comments with reduced losses, following PDD's announcement of strong Q3 FY23 revenue growth and earnings that exceeded expectations. Analysts have expressed concerns over Alibaba's performance, with Morgan Stanley removing the stock as a top pick after its Q2 results.

Portfolio Pulse from Benzinga Neuro

November 29, 2023 | 9:21 am

TM

Toyota Motor Corp (NYSE:TM) reported record sales and production for October, driven by strong demand for hybrids in North America and Europe. Global sales rose 5.6% year-on-year to 970,313 vehicles, including 327,051 electrified vehicles. U.S. sales outpaced Japan, with 195,799 vehicles sold. Production increased by 12% year-on-year to 1.04 million units, with year-to-date sales up 6.4% and production up 8.6%.

Portfolio Pulse from Anan Ashraf

November 29, 2023 | 9:02 am

ALVO

Alvotech (NASDAQ:ALVO) announced positive top-line results from a pharmacokinetic study for AVT05, a proposed biosimilar to Simponi and Simponi Aria (golimumab). The study met its primary endpoints, assessing pharmacokinetics, safety, and tolerability compared to Simponi in healthy adults.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 9:01 am

ZH

Zhihu Inc. (NYSE:ZH) reported Q3 earnings per share (EPS) of $(0.06), consistent with the same quarter last year. Sales rose to $140.10 million, a 9.31% increase from $128.17 million reported in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 8:54 am

BA

OKTA

Okta Inc. (NASDAQ:OKTA) has experienced a significant data breach affecting all users of its customer support system, a substantial increase from the initial estimate of 1% customer impact. Hackers accessed a report with names and email addresses of all clients using the support system. Okta's shares declined following the breach disclosure and further details are expected in the upcoming earnings report. Boeing Co. (NYSE:BA) also reported a separate 'cyber incident' affecting its global service division, with no threat to flight safety.

Portfolio Pulse from Ananya Gairola

November 29, 2023 | 8:02 am

CRM

CRWD

DLTR

HRL

WDAY

U.S. stock futures are trading higher, with investor focus on earnings reports from several companies. Dollar Tree (DLTR) is expected to report earnings of $1.01 per share on revenue of $7.40 billion. Workday (WDAY) reported better-than-expected third-quarter earnings, causing its shares to rise 7.1% after hours. Salesforce (CRM) is anticipated to post earnings of $2.06 per share on revenue of $8.73 billion, with its shares up 0.9% after hours. CrowdStrike (CRWD) also reported better-than-expected earnings and provided strong guidance, though its shares dropped 0.8% after hours. Hormel Foods (HRL) is expected to report earnings of 44 cents per share on revenue of $3.26 billion, with a slight 0.2% decrease in its shares after hours.

Portfolio Pulse from Lisa Levin

November 29, 2023 | 6:53 am

FL

Foot Locker, Inc. (NYSE:FL) is expected to report a significant drop in Q3 earnings with an estimate of 25 cents per share compared to $1.27 per share a year ago. Revenue is projected at $1.97 billion. The company recently entered a multiyear partnership with the NBA. Ahead of the earnings call, several analysts have downgraded FL's stock with lower price targets, citing concerns over its performance. Shares of Foot Locker rose 3.2% to close at $23.84 on Tuesday.

Portfolio Pulse from Lisa Levin

November 29, 2023 | 6:46 am