Streetbeat News

Earnings

TGT

Target Corp reported impairment charges of $64M for the three months ended October 28, 2023, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 4:58 pm

JACK

Jack In The Box Inc. (NASDAQ:JACK) reported Q4 earnings of $1.09 per share, missing the $1.15 estimate, but slightly beat revenue expectations with $372.524 million. The company's full-year 2024 earnings forecast is below estimates at $6.25 to $6.50 per share, compared to the expected $6.60. Despite this, JACK shares rose 3.5% to $71.28. Analysts from TD Cowen, Morgan Stanley, and RBC Capital adjusted their price targets following the earnings report.

Portfolio Pulse from Lisa Levin

November 22, 2023 | 4:56 pm

NVDA

Nvidia Corp. (NASDAQ:NVDA) reported Q3 earnings of $4.02 per share, surpassing the $3.36 consensus estimate, with revenue up 206% YoY to $18.12 billion, beating the $16.12 billion forecast. Q4 revenue guidance is set at $20 billion, above the $16.38 billion analysts expected. Despite the positive report, Nvidia shares dropped 3% to $484.36. Analysts from Morgan Stanley, Wells Fargo, BMO Capital, and Mizuho raised their price targets on Nvidia, maintaining positive ratings.

Portfolio Pulse from Lisa Levin

November 22, 2023 | 4:49 pm

BBY

Best Buy Co Inc (NYSE:BBY) reported Q3 FY24 results with a 7.8% sales decline to $9.76 billion, missing estimates, but beat EPS expectations with $1.29. The company lowered its FY24 revenue guidance to $43.1-$43.7 billion and tightened adjusted EPS guidance to $6.00-$6.30. Despite this, BBY shares rose 1.1%. Telsey Advisory Group, Truist Securities, and Wedbush adjusted their price targets and maintained their ratings post-earnings.

Portfolio Pulse from Lisa Levin

November 22, 2023 | 4:40 pm

ANF

Abercrombie & Fitch Co (NYSE:ANF) reported higher than expected adjusted EPS of $1.83 for Q3 FY23, beating the consensus estimate of $1.18. However, sales of $1.06 billion fell short of the $1.34 billion estimate. Comparable sales increased by 16%, and the company updated its FY23 net sales growth forecast to 12%-14%, up from 10%. Despite the strong earnings, ANF shares dropped 2.2% to $72.37. Telsey Advisory Group and Morgan Stanley raised their price targets for ANF following the earnings report.

Portfolio Pulse from Lisa Levin

November 22, 2023 | 4:33 pm

CSCO

HPQ

HP Inc (NYSE:HPQ) reported better-than-expected results for its fiscal fourth quarter, driven by gains in Print supplies and PC pricing. Despite a below-consensus guide for F1Q, trends in the PC market are considered stable. Morgan Stanley's analyst Erik Woodring maintains an Equal-Weight rating and a price target of $31 on HPQ. Cisco Systems Inc's (NASDAQ:CSCO) recent earnings had made investors wary, but HP's results may reassure stability in PC market demand. HPQ shares rose 4.09% to $29.00 following the earnings release.

Portfolio Pulse from Priya Nigam

November 22, 2023 | 4:33 pm

GNENF

LAAC

LAC

Lithium Americas (Argentina) Corp (NYSE:LAAC) is gaining attention as a strategic investment in the lithium sector following its split from Lithium Americas Corp. (NYSE:LAC). LAAC's Caucharí-Olaroz project is near completion, with 95% of capital deployed, and is expected to start generating revenue by mid-2023. In contrast, LAC faces high-interest rates and won't start production at Thacker Pass until 2026. LAAC's first quarterly report post-split showed a net income of $6.6 million, indicating financial resilience despite a recent drop in lithium carbonate prices. The company's partnership with China's Ganfeng Lithium Group (OTCPK:GNENF) adds geopolitical complexity.

Portfolio Pulse from Surbhi Jain

November 22, 2023 | 4:21 pm

AMGN

Amgen Inc. (NASDAQ:AMGN) has seen its stock drop by 0.18% in the current session, with a 3.61% decrease over the past month and a 7.54% decline over the past year. Investors are examining Amgen's P/E ratio, which is lower than the Biotechnology industry average, suggesting potential undervaluation or weaker growth prospects.

Portfolio Pulse from Benzinga Insights

November 22, 2023 | 4:15 pm

CTO

CTO Realty Growth Inc (NYSE:CTO) has sold the Eastern Commons shopping center in Henderson, Nevada, for $18.2 million. The sale of the 129,600 square foot property, which had an exit cap rate of 7.4%, resulted in a gain of approximately $1.7 million. The proceeds will be used to repay part of the company's revolving unsecured credit facility. Following the sale, CTO has about $53.7 million in 1031 restricted cash accounts. The company's Q3 FY23 sales were $28.47 million, surpassing estimates, with core FFO per share at $0.47. As of September 30, CTO had $29.6 million in cash and equivalents. CTO shares rose 0.70% to $16.58.

Portfolio Pulse from Lekha Gupta

November 22, 2023 | 4:13 pm

ADI

An in-depth comparison of Analog Devices (ADI) with its competitors in the Semiconductors & Semiconductor Equipment industry reveals potential undervaluation based on P/E, P/B, and P/S ratios. However, ADI's ROE, EBITDA, gross profit, and revenue growth are below the industry average, indicating possible inefficiencies and challenges. ADI's lower debt-to-equity ratio compared to top peers suggests a stronger financial position. The analysis suggests mixed signals for ADI's stock performance.

Portfolio Pulse from Benzinga Insights

November 22, 2023 | 4:00 pm