Streetbeat News

Earnings

AIRE

AMAT

ATGL

BABA

BIDU

CHPT

ZTO

ChargePoint Holdings, Inc. (NYSE:CHPT) reported preliminary Q3 revenue of $108 million to $113 million, significantly below the expected $150 million to $165 million, and anticipates a non-cash impairment charge of $42 million, leading to a negative GAAP gross margin of 21% to 23%. The company also announced a CEO transition, appointing Rick Wilmer as the new president and CEO. ChargePoint shares dropped 24.3% in pre-market trading. Other stocks such as ATGL, AMAT, AIRE, ZTO, BABA, JD, and BIDU also experienced pre-market losses following various financial results and market movements.

Portfolio Pulse from Lisa Levin

November 17, 2023 | 10:13 am

AZN

AstraZeneca's Truqap, in combination with Faslodex, has been approved by the FDA for HR-positive, HER2-negative advanced or metastatic breast cancer with specific biomarker alterations. The approval follows the CAPItello-291 Phase III trial results, which showed a 50% reduction in disease progression or death compared to Faslodex alone.

Portfolio Pulse from Charles Gross

November 17, 2023 | 10:12 am

HUIZ

Huize Holding Limited (NASDAQ:HUIZ) reported a decrease in Q3 sales to $40.08M, down 18.95% from $49.45M YoY. However, the company saw a positive shift in its adjusted net profit, reporting $2.5M compared to a net loss in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 9:05 am

TSLA

Elon Musk, CEO of Tesla Inc (NASDAQ:TSLA), suggested the possibility of merging Neuralink's brain-computer interface technology with Tesla's Optimus bot to create advanced bionic limbs for amputees. Musk believes that this combination could result in artificial limbs that feel completely natural. This idea was previously discussed during Neuralink's second-quarter earnings call and again when Neuralink began recruiting for its first human clinical trial.

Portfolio Pulse from Anan Ashraf

November 17, 2023 | 8:54 am

ATKR

Atkore Inc. (NYSE:ATKR) is expected to report Q4 FY2023 earnings of $4.08 per share, down from $5.52 per share a year ago, with revenue estimated at $920.43 million, a decrease from $1.03 billion. The company had mixed Q3 results but raised its FY23 adjusted earnings outlook. Shares dropped 0.7% to $135.23 recently. Analysts from B. Riley Securities, Citigroup, and RBC Capital have provided ratings and adjusted price targets for Atkore.

Portfolio Pulse from Lisa Levin

November 17, 2023 | 8:26 am

TSLA

Senator Tommy Tuberville disclosed bearish bets on Tesla (TSLA) by buying put options and selling shares ahead of Tesla's Q3 results, which led to a stock decline. He also bought call options and sold shares of U.S. Steel Corp. (X), raising conflict of interest concerns due to his position on the Senate Subcommittee on Commodities. Tuberville engaged in other significant transactions, including buying shares of META, WU, WMS, ROK, RMD, PHM, NXPI, ABBV, GSK, and selling shares of TXN, CSX, NSC, ODFL, MRK, JNJ.

Portfolio Pulse from Shanthi Rexaline

November 17, 2023 | 7:02 am

BKE

GPS

ROST

SPB

BJ's Wholesale Club, Gap, The Buckle, Ross Stores, and Spectrum Brands are in focus as investors anticipate earnings reports and react to financial results. BJ's Wholesale is expected to report earnings of 96 cents per share on revenue of $4.96 billion. Gap reported better-than-expected Q3 results, causing a 17.1% share price jump. The Buckle is expected to earn 98 cents per share on revenue of $316.70 million. Ross Stores reported upbeat Q3 results and raised FY23 guidance, leading to a 6.2% share increase. Spectrum Brands is expected to report earnings of $1.03 per share on revenue of $738.26 million, with shares falling 1.2% prior to the report.

Portfolio Pulse from Lisa Levin

November 17, 2023 | 6:59 am

BJ's Wholesale Club Holdings, Inc. (NYSE:BJ) is expected to report lower Q3 earnings at 96 cents per share compared to 99 cents per share a year ago, with projected revenue of $4.96 billion. The stock closed down 5.4% at $67.60. Analysts have recently adjusted their price targets and ratings, with Deutsche Bank downgrading to Hold and cutting the target from $79 to $71, Gordon Haskett upgrading to Buy, Goldman Sachs downgrading to Neutral and reducing the target from $75 to $73, Evercore ISI maintaining an In-Line rating and raising the target from $68 to $69, and B of A Securities maintaining a Buy rating but cutting the target from $85 to $80.

Portfolio Pulse from Lisa Levin

November 17, 2023 | 6:46 am

AMAT

BABA

GPS

TSLA

WMT

U.S. stock indices showed mixed results with the Dow Jones slightly down, Nasdaq up, and S&P 500 also rising. Applied Materials (AMAT) reported strong Q4 results, beating estimates. Alibaba (BABA) saw its stock drop despite earnings per ADS beating consensus. Walmart (WMT) reported a 5.2% sales growth in Q3 FY24 but experienced a stock decline. Gap (GPS) exceeded earnings expectations but its stock decreased. Tesla (TSLA) shares fell, aligning with recent market trends and CPI data.

Portfolio Pulse from Benzinga Neuro

November 17, 2023 | 2:08 am

ICG

Intchains reported Q3 sales of $938.00K, a significant decline attributed to the challenging cryptocurrency market. The sales volume of ASIC chips, mainly used in cryptocurrency mining machines, decreased by 70.3%, along with a reduction in their average selling price.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 11:06 pm