Streetbeat News

Earnings

ELWS

SPCE

VINO

In Wednesday's pre-market session, several industrial stocks showed significant movement. Earlyworks Co (ELWS) and Gaucho Group Holdings (VINO) were among the gainers, with ELWS rising 23.3% and VINO up 6.53%. Dragonfly Energy Hldgs (DFLI), Sidus Space (SIDU), Babcock & Wilcox (BW), and Falcons Beyond Global (FBYD) also saw gains. On the losing side, Emeren Group (SOL) and Deere (DE) experienced declines of 17.6% and 5.73%, respectively, following their earnings reports. Mesa Air Gr (MESA), Virgin Galactic Hldgs (SPCE), Safe & Green Holdings (SGBX), and C3is (CISS) also saw their stock prices drop.

Portfolio Pulse from Benzinga Insights

November 22, 2023 | 1:06 pm

GPS

LAUR

SEMR

On a day when the Nasdaq 100 saw a decline, investors took note of insider sales at Semrush Holdings (SEMR), Gap Inc. (GPS), and Laureate Education (LAUR). Dmitry Melnikov of Semrush sold shares worth approximately $772,589, while Gap's EVP Sarah Gilligan sold shares totaling around $190,204. Wengen Investments Ltd, a 10% owner of Laureate Education, sold shares for about $334,260. All three companies had reported better-than-expected earnings for the third quarter.

Portfolio Pulse from Lisa Levin

November 22, 2023 | 12:42 pm

AESI

DINO

VLO

Wall Street's most accurate analysts have recommended three high-dividend yielding energy stocks: Valero Energy Corporation (VLO), HF Sinclair Corporation (DINO), and Atlas Energy Solutions Inc. (AESI). VLO has a dividend yield of 3.31% with mixed price target adjustments, DINO yields 3.33% with a reduced price target, and AESI offers a 4.65% yield with increased price targets. VLO missed Q3 revenue estimates, DINO beat them, and AESI posted downbeat Q3 earnings.

Portfolio Pulse from Lisa Levin

November 22, 2023 | 12:32 pm

NVDA

QQQ

SPY

TLT

USO

US stock futures indicate a rebound, with Nvidia's positive movement contributing to the optimism despite retail earnings disappointments. Economic data on jobs, consumer sentiment, and durable goods orders are expected to influence the market. The S&P 500 and Nasdaq ended a five-session winning streak on Tuesday. Analyst Adam Turnquist of LPL Financial highlights the broadening market rally and investor focus on the S&P 500 resistance level at 4,600. Premarket trading saw gains for SPY and QQQ ETFs. Nvidia recovered in premarket trading, while Deere & Co. and other companies faced declines post-earnings. Oil futures and USO dropped, while the TLT ETF rose in premarket trading amid a decline in the 10-year Treasury note yield.

Portfolio Pulse from Shanthi Rexaline

November 22, 2023 | 12:24 pm

FORTY

Formula Systems (1985) reported a decrease in Q3 EPS to $1.00 from $1.09 YoY, while sales increased to $654.84M from $636.31M YoY.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 12:06 pm

GDS

GDS Holdings (NASDAQ:GDS) reported Q3 earnings per ADS of $(0.32), missing the $(0.27) estimate, and sales of $345.26M, slightly below the $345.59M estimate. This represents an 18.52% increase in losses per share and a 3.74% increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 12:05 pm

TRDA

Entrada Therapeutics plans to announce data from its ENTR-601-44-101 study in the second half of 2024. The company also expects its cash runway to last through 2025, indicating a stable financial position for the near future.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 12:04 pm

NVDA

Nvidia Corp. (NASDAQ:NVDA) experienced a premarket reversal, recovering from earlier losses and Tuesday's after-hours trading decline. This change in direction occurred after analysts dismissed concerns about China that Nvidia highlighted, focusing instead on the company's strong quarterly earnings. Nvidia reported Q3 non-GAAP earnings of $4.02 per share on revenue of $18.12 billion, surpassing consensus estimates. The company's record Data Center revenues were driven by demand for accelerated computing and generative AI. Despite anticipating lower contributions from China due to U.S. export restrictions, Nvidia expects to compensate with robust global demand. The company's Q4 revenue guidance of $20 billion is ahead of consensus estimates but below the whisper number. KeyBanc analyst John Vinh maintained an Outperform rating with a $650 price target. Nvidia's stock rose 1.35% to $506.20 in premarket trading on Wednesday.

Portfolio Pulse from Shanthi Rexaline

November 22, 2023 | 11:46 am

HPQ

HP Inc (NYSE:HPQ) shares dropped after reporting a 6.5% Y/Y decline in Q4 FY23 net revenue to $13.817 billion, slightly above consensus. Personal Systems' revenue fell 8% Y/Y, with flat total units and a mix of Consumer and Commercial PS unit changes. Adjusted EPS met expectations at $0.90. HP generated $3.6 billion in operating cash flow and $3.1 billion in free cash flow for FY23, returning $1.1 billion to shareholders through repurchases and dividends. The company announced a 5% dividend increase and provided Q1 and FY24 EPS guidance above consensus estimates. Despite this, HPQ shares fell 2.37% in premarket trading.

Portfolio Pulse from Lekha Gupta

November 22, 2023 | 11:43 am

FEDU

Four Seasons Education (NYSE:FEDU) reported a significant increase in sales to $8.52M in H1, up from $2.01M YoY, with adjusted earnings per share at $0.41.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 11:39 am