Streetbeat News

Earnings

BIIB

Biogen Inc (NASDAQ:BIIB) reported Q3 FY23 sales of $2.53 billion, beating the consensus of $2.39 billion. However, the company revised its FY23 revenues to decline in a low-single-digit percentage versus FY22 due to the completed acquisition of Reata and other factors. The company's shares are trading lower by 4.60% at $234.32.

Portfolio Pulse from Vandana Singh

November 08, 2023 | 5:43 pm

BIGC

BigCommerce Holdings reported worse-than-expected Q3 revenue results, causing its shares to trade lower. The company also announced a restructuring plan to reduce its workforce by approximately 7%.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 5:41 pm

ARKK

RBLX

TARK

Roblox Corporation's stock surged by over 17% following its Q3 earnings report, which exceeded expectations. The company reported an earnings loss of 45 cents per share on revenues of $839.453 million, beating the estimated loss of 51 cents per share on revenues of $829.49 million. Daily active users also grew by 20% YoY to 70.2 million. Investors looking for a diversified approach may consider the AXS 2X Innovation ETF (TARK), which aims to return 200% of the daily performance of the ARK Innovation ETF (ARKK), where Roblox is a top ten holding.

Portfolio Pulse from Melanie Schaffer

November 08, 2023 | 5:41 pm

BYND

Beyond Meat Inc (NASDAQ:BYND) is set to report its Q3 earnings on Nov. 8. The company's financial position is challenging with a high cash burn rate, declining revenue, and $1.14 billion in convertible notes maturing in 2027. The stock is down about 50% over the past year and has a high short interest of over 40%. Analysts expect the company to report a negative 89 cents in EPS and $85.37 million in revenue. Recent price targets for the stock range between $3 and $5.

Portfolio Pulse from Surbhi Jain

November 08, 2023 | 5:41 pm

PLUS

ePlus reported its Q2 financial results and issued FY24 guidance, which led to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 5:37 pm

BRP

BRP Group's shares have fallen following the release of their Q3 financial results. Wells Fargo has also downgraded the stock from Overweight to Equal-Weight and reduced its price target from $28 to $24.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 5:36 pm

CRCT

Cricut's shares are trading lower following the company's Q3 revenue results, which were below expectations.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 5:32 pm

CTV

TBLA

UONEK

WBD

Several communication services stocks experienced significant movement during Wednesday's intraday session. Notable gainers included Innovid (CTV), Taboola.com (TBLA), AirNet Technology (ANTE), Roblox (RBLX), Vtex (VTEX), and Clear Channel Outdoor (CCO), with increases ranging from 10.61% to 21.4%. On the other hand, Urban One (UONEK, UONE), Global Mofy Metaverse (GMM), LQR House (LQR), Nextdoor Holdings (KIND), and Warner Bros. Discovery (WBD) saw decreases between 16.33% and 36.1%. Most companies released their Q3 earnings reports.

Portfolio Pulse from Benzinga Insights

November 08, 2023 | 5:31 pm

BLDE

FTCI

Several industrial stocks experienced significant price movements during Wednesday's intraday session. Blade Air Mobility, Pineapple Energy, ShiftPixy, Energy Vault Holdings, Intelligent Living, and Performant Finl were among the gainers, with increases ranging from 16.81% to 30.2%. On the other hand, FTC Solar, Custom Truck One Source, Array Technologies, Falcons Beyond Global, Innovate, and Mercury Sys were among the losers, with decreases ranging from 12.53% to 71.3%. The Q3 earnings reports for several of these companies were recently released.

Portfolio Pulse from Benzinga Insights

November 08, 2023 | 5:31 pm

AIP

EXFY

INTZ

PRSO

During Wednesday's intraday session, several information technology stocks experienced significant movements. Gainers included Peraso (PRSO), Intrusion (INTZ), Porch Group (PRCH), Oblong (OBLG), Turtle Beach (HEAR), and Bit Origin (BTOG). Losers included Expensify (EXFY), Arteris (AIP), Synchronoss Technologies (SNCR), SPI Energy (SPI), Casa Systems (CASA), and Identiv (INVE). Most of these movements were accompanied by high trading volumes and recent Q3 earnings reports.

Portfolio Pulse from Benzinga Insights

November 08, 2023 | 5:31 pm