Streetbeat News

Earnings

PACK

Ranpak Hldgs (NYSE:PACK) is set to release its quarterly earnings report on October 31, 2023. Analysts estimate an earnings per share (EPS) of $-0.07. The company's past performance shows a pattern of beating EPS estimates, which often leads to an increase in share price. However, the stock has been generally negative over the last 52-week period, with shares down 11.46%.

Portfolio Pulse from Benzinga Insights

October 30, 2023 | 8:01 pm

AEHR

ON

Shares of Aehr Test Systems (NASDAQ:AEHR) fell in sympathy with ON Semiconductor (NASDAQ:ON) after the latter reported Q3 results and issued weak guidance. ON's Q3 earnings beat analyst estimates but were lower than the same period last year. The company also issued Q4 revenue guidance lower than estimates. AEHR shares fell 19.8% on unusually high trading volume.

Portfolio Pulse from Ryan Gustafson

October 30, 2023 | 8:01 pm

MPLX

MPLX is set to release its latest quarterly earnings report on October 31, 2023. Analysts estimate an EPS of $0.93. Last quarter, MPLX beat EPS by $0.05, which was followed by a 2.72% drop in the share price. Shares of MPLX were trading at $35.69 as of October 27, with a 52-week return of 3.96%.

Portfolio Pulse from Benzinga Insights

October 30, 2023 | 8:01 pm

LITE

Lumentum Holdings Inc. (NASDAQ:LITE) has announced an agreement to acquire Cloud Light for $750 million. The company expects the deal to be immediately accretive to earnings per share and more than double its cloud intra-data center infrastructure revenue in the 12-month period after the close of the transaction. Shares of LITE were up 11.4% at $40.20 at the time of publication.

Portfolio Pulse from Ryan Gustafson

October 30, 2023 | 7:43 pm

FSLR

Shares of First Solar, Inc. (NASDAQ:FSLR) are trading lower ahead of the company's Q3 earnings report due on Tuesday. The company is expected to report earnings of $2.06 per share and revenue of $894.12 million. The stock has been trading down since last Friday when the solar sector was impacted by weak Q4 guidance issued by Enphase Energy, Inc.

Portfolio Pulse from Ryan Gustafson

October 30, 2023 | 7:38 pm

SOFI

Goldman Sachs has given a bullish outlook on SoFi Technologies, Inc (NASDAQ:SOFI) following the company's Q3 earnings report. The bank highlighted SoFi's revenue, origination, contribution profit and EBITDA beat, and noted better than expected student loan refinancing demand. Goldman Sachs analyst Michael Ng rates the stock Neutral with a 12-month price target of $7. The bank expects SoFi's platform to strengthen due to upbeat student loan refinancing numbers and SoFi’s deposit and member growth.

Portfolio Pulse from Surbhi Jain

October 30, 2023 | 7:25 pm

AON

Aon plc reported better-than-expected Q3 results with adjusted earnings of $2.32 per share, beating market estimates of $2.21 per share, and sales of $2.95 billion versus expectations of $2.89 billion. However, analysts from Wells Fargo, Piper Sandler, and RBC Capital have cut their price targets on Aon following the earnings announcement.

Portfolio Pulse from Lisa Levin

October 30, 2023 | 7:08 pm

CL

Colgate-Palmolive reported its Q3 earnings, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 7:08 pm

ALZN

COMM

EAR

LMDX

MIRO

VYNE

WDC

The Dow Jones index gained over 500 points, with Western Digital Corp (WDC) announcing a plan to split its HDD and Flash businesses following upbeat Q1 results. Miromatrix Medical Inc. (MIRO) shares surged after United Therapeutics agreed to acquire the company. VYNE Therapeutics Inc. (VYNE) shares rose after announcing a private placement of $88 million and positive Phase 1b trial data. Eargo, Inc. (EAR) shares increased after announcing it will be taken private by Patient Square Capital. CommScope Holding Company, Inc. (COMM) shares dropped after reporting preliminary Q3 results. Alzamend Neuro, Inc. (ALZN) shares fell after announcing a reverse stock split. LumiraDx Limited (LMDX) shares fell after receiving a Nasdaq delisting determination.

Portfolio Pulse from Lisa Levin

October 30, 2023 | 7:06 pm

CGAU

Centerra Gold (NYSE:CGAU) is set to release its quarterly earnings report on October 31, 2023. Analysts estimate an earnings per share (EPS) of $0.17. The company's past performance shows a pattern of share price changes following earnings reports. Last quarter, the company missed EPS by $0.01, resulting in a 6.59% drop in share price. Shares of Centerra Gold were trading at $5.26 as of October 27, with a 52-week increase of 9.3%.

Portfolio Pulse from Benzinga Insights

October 30, 2023 | 7:02 pm