Streetbeat News

Earnings

ASX

TSM

ASE Technology Holding Co, Ltd (ASX) reported a Q3 net revenue decline of 18% YoY to $4.87 billion, missing the consensus of $5.12 billion. However, the revenue grew by 13% QoQ. The company's gross margin increased by 20 bps QoQ to 16.2%, and the operating margin grew by 50 bps QoQ to 7.4%. ASX shares traded higher by 3.49% in premarket.

Portfolio Pulse from Anusuya Lahiri

October 26, 2023 | 12:49 pm

GPCR

HSTM

ICPT

NXGN

OLK

The article lists five overbought health care stocks, indicating they may be overvalued: Structure Therapeutics Inc. (GPCR), Olink Holding AB (OLK), Intercept Pharmaceuticals, Inc. (ICPT), NextGen Healthcare, Inc. (NXGN), and HealthStream, Inc. (HSTM). Overbought status is determined by the Relative Strength Index (RSI), with values above 70 indicating overbought conditions. The companies have recent news such as acquisition deals, private placements, and earnings reports.

Portfolio Pulse from Lisa Levin

October 26, 2023 | 12:49 pm

ABVC

ALT

MAT

ABVC BioPharma has entered into a term sheet to license global rights of CNS drugs to AiBtl BioPharma at a valuation of $667 million. Mattel shares are trading lower following the company's Q3 financial results. Altimmune has been granted Fast Track Designation by the FDA for Pemvidutide for the treatment of Non-Alcoholic Steatohepatitis (NASH).

Portfolio Pulse from ryanfaloona@benzinga.com

October 26, 2023 | 12:46 pm

LADR

Ladder Cap (NYSE:LADR) reported Q3 distributable earnings of $0.31 per share, beating the analyst consensus estimate of $0.29 by 6.9 percent.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 12:36 pm

KRNY

Kearny Financial (NASDAQ:KRNY) reported Q1 earnings of $0.16 per share, beating the analyst consensus estimate of $0.13 by 23.08%. However, this is a 36% decrease from the same period last year. The company also reported quarterly sales of $39.16 million, beating the estimate of $37.61 million by 4.12%, but this is a 19.31% decrease from last year.

Portfolio Pulse from mahesh@benzinga.com

October 26, 2023 | 12:35 pm

CBZ

CBIZ has projected an increase in its FY23 adjusted EPS by 11%-13% to $2.36-$2.41, compared to the estimated $2.36.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 12:34 pm

WTBA

West Bancorp reported Q3 earnings of $0.35 per share, beating the analyst consensus estimate of $0.31 by 12.9%. However, this is a 49.28% decrease from the same period last year. The company's quarterly sales of $19.46 million missed the analyst consensus estimate of $19.70 million by 1.24%, marking a 25.97% decrease from the same period last year.

Portfolio Pulse from vinayak@benzinga.com

October 26, 2023 | 12:33 pm

FCFS

FirstCash has reported strong growth in store counts year-to-date, with expectations for Q4 and full-year retail sales to grow in both the U.S. and Latin America. Retail margins are expected to remain strong at 42%-43% in the U.S. and 35%-36% in Latin America. The company's outlook for the remainder of 2023 remains highly positive due to strong Q3 results, recent pawn acquisitions, and continued growth in earning assets. Pawn operations are expected to be the primary earnings driver in 2023, contributing approximately 80% of total segment level pre-tax income for the full year.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 12:29 pm

HYMTF

Hyundai Motor Company reported a 8.7% YoY revenue growth in Q3 FY23, with an operating profit of KRW 3.82 trillion, a 146.3% YoY increase. Net profit also increased by 134% to KRW 3.3 trillion. Sales of electrified models jumped 33.3% to about 169,000 units. The company expects sales momentum to continue due to improved production status, stronger demand for Hyundai, Genesis-branded models, and lower inventory levels.

Portfolio Pulse from Shivani Kumaresan

October 26, 2023 | 12:26 pm

NVNO

enVVeno Medical Corporation (NASDAQ:NVNO) reported Q3 2023 financial results, ending the quarter with $25.7M in cash and investments. The company achieved full enrollment for its VenoValve U.S. pivotal trial and plans to expedite the development of enVVe, a transcatheter replacement venous valve. The company's cash burn for the quarter was $4.1M, in line with previous guidance. The company also closed a $28M private placement, which is expected to fund the company through several significant milestones.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 12:24 pm