Streetbeat News

Earnings

MNSO

MINISO's stock price has declined following the release of their Q1 financial results.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 4:47 pm

SYM

Symbotic Inc (NASDAQ:SYM) reported Q4 sales of $392 million, surpassing the consensus estimate of $306.9 million. The company's quarterly losses narrowed to 8 cents per share from 10 cents per share year-over-year. Following the earnings report, SYM's stock price soared by 37.2% to $50.97. Analysts from Keybanc, Goldman Sachs, Needham, and Cantor Fitzgerald have updated their price targets and ratings for Symbotic, with most maintaining positive outlooks.

Portfolio Pulse from Lisa Levin

November 21, 2023 | 4:45 pm

DHI

LEN

PHM

TOL

XHB

Despite a slowdown in home sales and high interest rates, homebuilder stocks have outperformed the market in 2023. DR Horton, Lennar Corporation, Toll Brothers, and PulteGroup have seen significant gains. The SPDR Homebuilders ETF also rose. The sector's resilience is attributed to a strong desire for homeownership and limited housing supply. Supply chain issues persist, but housing starts are expected to increase as these ease. The sector's outlook for 2024 is cautiously optimistic, with potential risks from economic slowdown and labor market weakening.

Portfolio Pulse from Neil Dennis

November 21, 2023 | 4:43 pm

DY

Dycom Industries, Inc. reported Q3 financial results that exceeded expectations, leading to a rise in its stock price.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 4:42 pm

KC

Kingsoft Cloud Holdings Limited (NASDAQ:KC) shares dropped after reporting Q3 FY23 revenue of $222.754 million, below the expected $244.77 million, and a 17.5% Y/Y decline. Adjusted EPS was $(0.18), worse than the $(0.17) loss forecasted. The fall in revenue was attributed to scaling down CDN services and phasing out unprofitable clients. Public cloud services revenue decreased by 24.5%, and enterprise cloud services by 2.2%. However, gross profit rose by 60.3%, with a gross margin of 12.1% compared to 6.2% in the previous year, due to strategic adjustments and cost control. The company has $358.0 million in cash and equivalents. CEO Tao Zou plans to deepen strategic planning with Xiaomi and Kingsoft for AI cloud demand. KC shares fell by 12.16% to $4.84.

Portfolio Pulse from Nabaparna Bhattacharya

November 21, 2023 | 4:39 pm

CRH

CRH shares are up following a positive Q3 earnings update and the announcement of a $2.1 billion acquisition of materials assets in Texas.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 4:36 pm

FIHL

Fidelis Insurance Holdings reported Q3 financial results, leading to a decline in its share price.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 4:34 pm

HIBB

Hibbett's stock is trading higher following the announcement of improved Q3 earnings per share (EPS) compared to last year and revenue results that exceeded expectations. Additionally, the company has increased its earnings guidance for the fiscal year 2024.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 4:34 pm

RCEL

AVITA Medical's stock is trading lower following the company's announcement of reduced revenue guidance for FY23, which falls below analyst estimates.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 4:28 pm

BK

BNY Mellon Corp (NYSE:BK) and Lunate are investing in a new company, Alpheya, to create a wealth management technology platform for the Middle East and North Africa. Alpheya will be based in ADGM with a $300 million capital commitment and is set to start in 2024. BNY Mellon holds a minority share in Alpheya. The company aims to meet the increasing demand for digital wealth management services in the region. BNY Mellon recently reported a Q3 FY23 revenue increase of 2% Y/Y to $4.37 billion, surpassing estimates, with an adjusted EPS of $1.27. BK shares saw a slight increase of 0.21% to $47.22.

Portfolio Pulse from Lekha Gupta

November 21, 2023 | 4:27 pm