Streetbeat News

Earnings

MARK

Remark Holdings reported a year-over-year decrease in Q3 revenue, leading to a decline in its stock price.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 5:29 pm

BURL

Burlington Stores Inc (NYSE:BURL) reported Q3 FY23 revenue growth of 12% year-over-year to $2.289 billion, slightly missing consensus estimates. Comparable store sales rose by 6%, and adjusted EPS was $0.98, within guidance. Gross margin improved, and inventories decreased compared to last year. CEO Michael O'Sullivan expressed optimism for the holiday season but acknowledged external uncertainties. The company raised its FY23 adjusted EPS outlook and expects sales growth of approximately 11%. BURL shares surged 21.4% following the report.

Portfolio Pulse from Vandana Singh

November 21, 2023 | 5:28 pm

ENTA

Enanta Pharmaceuticals' stock is trading higher following the announcement of their Q4 revenue results, which exceeded expectations.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 5:24 pm

COIN

Needham analyst John Todaro maintains a Buy rating on Coinbase Global, Inc (COIN) with a $120 price target. He believes COIN is well-positioned after the crypto 'winter', noting that competitors FTX and Bittrex are gone, and Binance is retreating. Todaro is optimistic about the crypto rally and sees a $300 million revenue opportunity for Coinbase with potential Q4 revenue of $870 million and EPS of $0.22. COIN shares traded lower by 3.01% at $102.91 in premarket.

Portfolio Pulse from Anusuya Lahiri

November 21, 2023 | 5:16 pm

LRHC

La Rosa Holdings' stock price has declined following the release of their Q3 financial results.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 5:05 pm

AIRE

ANGH

BURL

GLMD

HIBB

SYM

VTVT

The Nasdaq Composite fell over 100 points, with the broader U.S. stock market also trading lower. Burlington Stores, Inc. (BURL) shares surged over 20% after reporting Q3 results that beat earnings estimates but slightly missed on revenue. Anghami Inc. (ANGH), Symbotic Inc. (SYM), and Hibbett, Inc. (HIBB) saw their shares rise significantly after positive news. Conversely, reAlpha Tech Corp. (AIRE), vTv Therapeutics Inc. (VTVT), and Galmed Pharmaceuticals Ltd. (GLMD) experienced sharp declines due to various negative developments.

Portfolio Pulse from Lisa Levin

November 21, 2023 | 5:04 pm

BABA

BIDU

MSFT

NVDA

TCEHY

Baidu Inc (NASDAQ:BIDU) reported a 6% YoY revenue increase to 4.45 billion yuan in Q3, with shares rising 2%. Despite a challenging macroeconomic environment, Baidu's AI advancements, particularly with its Ernie bot, demonstrate resilience and competitiveness. Microsoft Corporation (NASDAQ:MSFT), with a 49% stake in Open AI, hired ousted Open AI staff, including Sam Altman, strengthening its AI position. Baidu, along with Alibaba (NYSE:BABA) and Tencent Holdings Limited (OTC:TCEHY), remains a key player in China's internet sector, with Tencent also navigating US chip export curbs. Nvidia Corporation (NASDAQ:NVDA) was mentioned in relation to AI chip supplies.

Portfolio Pulse from Upwallstreet

November 21, 2023 | 5:00 pm

BDX

Becton Dickinson Inc. (NYSE:BDX) saw a 1.04% increase in its stock price to $236.09 in the current market session, despite an 8.92% decrease over the past month and a 0.52% drop over the past year. The company's P/E ratio of 45.82 is lower than the Health Care Equipment & Supplies industry average of 56.12, which could suggest it is undervalued or expected to perform worse than its peers. Investors are advised to consider the P/E ratio alongside other financial metrics and qualitative analysis for a comprehensive investment decision.

Portfolio Pulse from Benzinga Insights

November 21, 2023 | 5:00 pm

KEYS

Keysight Technologies, Inc. (NYSE:KEYS) reported Q4 earnings of $1.99 per share, surpassing estimates of $1.87, with revenue at $1.31 billion beating the $1.30 billion estimate. However, the company's Q1 guidance was below expectations, with earnings forecasted between $1.53 and $1.59 per share versus the $1.67 estimate, and revenue between $1.235 billion and $1.255 billion against the $1.24 billion estimate. Following the earnings report, Barclays lowered its price target from $144 to $134, maintaining an Equal-Weight rating, while Baird increased its price target from $155 to $160, maintaining an Outperform rating. KEYS shares dropped 0.3% to $134.53.

Portfolio Pulse from Lisa Levin

November 21, 2023 | 4:50 pm

DKS

Dick's Sporting Goods Inc (NYSE:DKS) reported a 2.8% year-on-year increase in Q3 FY23 sales to $3.042 billion, surpassing analyst estimates. Comparable store sales rose 1.7%, and adjusted EPS of $2.85 exceeded expectations. The company is optimizing its cost structure, resulting in pre-tax charges but expects to complete the review in fiscal 2023. DKS declared a quarterly dividend of $1.00 per share and raised its full-year adjusted EPS outlook. Shares rose 4.66% to $124.56.

Portfolio Pulse from Nabaparna Bhattacharya

November 21, 2023 | 4:50 pm