Streetbeat News

Earnings

WMT

Walmart Inc (NYSE:WMT) reported a 5.2% year-over-year sales growth for Q3 FY24, with sales of $160.8 billion surpassing the consensus of $159.55 billion. Adjusted EPS was $1.53, beating last year's $1.50 and the consensus of $1.52. The company raised its FY24 adjusted EPS guidance to $6.40-$6.48 and net sales growth outlook to 5.0%-5.5%. Walmart's current dividend yield is 1.46%, with a quarterly dividend of 57 cents per share. To earn $500 monthly from dividends, an investor would need 2,632 shares, valued at approximately $410,697. Walmart shares fell 8.1% to close at $156.04 on Thursday.

Portfolio Pulse from Lisa Levin

November 17, 2023 | 1:43 pm

AMAT

ASML

KLAC

LRCX

Chipmaking equipment manufacturers like Lam Research and ASML are seeing a surge in revenue from China, which accounts for over 40% of their sales, despite U.S. trade restrictions. Lam Research reported nearly half its revenue from China, while ASML, despite a ban on its most advanced systems, also saw significant Chinese sales. Applied Materials experienced elevated sales in China and anticipates a return to the typical 30% level over time. Industry experts warn that China's strategy to front-load orders may not be sustainable, and stricter export rules could impact future growth. A U.S. criminal investigation into Applied Materials for alleged export violations has raised concerns, affecting its stock and peers like KLA Corp and Lam.

Portfolio Pulse from Anusuya Lahiri

November 17, 2023 | 1:39 pm

ATKR

BKE

BTCM

CINT

DXLG

HUIZ

SPB

TWST

YTRA

Several companies are scheduled to report their earnings on November 17, 2023, with expectations for specific EPS and revenue figures for CI&T, Buckle, BJ's Wholesale Club, Atkore, and Destination XL Group. Other companies like Yatra Online, Huize Holding, Twist Bioscience, Spectrum Brands Holdings, and BIT Mining are also set to report their earnings without specified expectations.

Portfolio Pulse from Benzinga Insights

November 17, 2023 | 1:33 pm

PXDT

Pixie Dust Technologies, Inc. (PXDT) reported a 10.8% increase in FY23 revenue to $5.2M, driven by product sales, particularly the SonoRepro and iwasemi. However, service sales declined due to reduced demand for their COVID-19 related service, magickiri. R&D expenses remained flat, while SG&A expenses rose significantly due to marketing and IPO-related costs. The net loss widened to $14.5M from $8.2M the previous year. The company ended the fiscal year with $15.7M in cash and cash equivalents.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 1:33 pm

DOCS

HIMS

NTRA

OSUR

PNT

Five health care stocks are considered overbought based on their RSI values, which may signal a potential short-term decline. OraSure Technologies (OSUR) reported positive quarterly results but saw a slight share price drop. POINT Biopharma (PNT) reported a net loss and is being acquired by Lilly, with a minor share price decrease. Natera (NTRA) partnered with Merck for oncology research, experiencing a small share price fall. Doximity (DOCS) exceeded financial expectations, yet shares closed lower. Hims & Hers Health (HIMS) reported strong sales and announced a share repurchase program, with shares also closing down.

Portfolio Pulse from Lisa Levin

November 17, 2023 | 1:33 pm

CHPT

ChargePoint's stock is trading lower following the announcement of preliminary Q3 results and the appointment of a new CEO.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 1:30 pm

RHE

Regional Health Properties (AMEX:RHE) reported a narrower Q3 loss of $(0.52) per share compared to $(1.48) YoY, but sales declined to $4.14M from $11.03M YoY, indicating a mixed financial performance.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 1:28 pm

PGR

The Progressive Corporation (NYSE:PGR) reported its October 2023 results with a net income of $406 million and earnings per share (EPS) of $0.68. Net premiums written were $5.53 billion, and net premiums earned were $5.38 billion. The company experienced a combined ratio of 91.7 for the current year, an improvement from the prior year's 95.9. Progressive also saw growth in policies in force across all segments, with personal auto policies increasing by 10%, special lines by 7%, and total property business by 7%. However, the company reported a total pretax net realized loss on securities of $87.1 million.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 1:28 pm

STX

UBER

VRTX

WSM

Insiders at Williams-Sonoma, Uber Technologies, Vertex Pharmaceuticals, and Seagate Technology have recently sold shares of their companies. Williams-Sonoma's CEO sold shares after reporting better-than-expected earnings, while Uber's CEO sold shares following a revenue miss. Vertex Pharmaceuticals' EVP and CMO sold shares after a gene therapy received conditional marketing authorization in the UK. Seagate Technology's EVP & Chief Commercial Officer sold shares after reporting a significant revenue decline.

Portfolio Pulse from Lisa Levin

November 17, 2023 | 1:26 pm

CHPT

GPS

SGD

Gap Inc. (GPS) shares surged by approximately 17% in pre-market trading following the release of their Q3 financial results, which surpassed analyst expectations. The company reported earnings of $0.59 per share against an expected $0.18, with sales of $3.767 billion beating the $3.610 billion estimate. Other stocks also showed significant pre-market movements, with notable gainers including Safe and Green Development Corporation (SGD), Syntec Optics Holdings (OPTX), and Mural Oncology (MURA), among others. Conversely, several stocks experienced declines, such as Bone Biologics Corporation (BBLG), ChargePoint Holdings (CHPT), and Alpha Technology Group Limited (ATGL).

Portfolio Pulse from Lisa Levin

November 17, 2023 | 1:25 pm