Streetbeat News

Earnings

TEL

TE Connectivity Ltd (NYSE:TEL) reported a 2.4% YoY decline in Q3 FY23 net sales to $3.998 billion, missing the consensus of $4.05 billion. However, the company saw growth in its Transportation and Industrial segments, with revenues rising 5.8% and 1.3% YoY respectively. The non-GAAP EPS of $1.77 beat the consensus of $1.66. For Q4, TEL expects net sales of $4.0 billion and non-GAAP EPS of $1.75.

Portfolio Pulse from Anusuya Lahiri

July 26, 2023 | 5:43 pm

CGC

TLRY

Shares of Canopy Growth Corporation (NASDAQ:CGC) are trading higher, seemingly in sympathy with Tilray Brands, Inc. (NASDAQ:TLRY), which released its Q4 and fiscal year 2023 financial results, beating revenue estimates. CGC shares are trading on heavy volume, with over 19 million shares traded in the session. Canopy Growth will release its Q1 fiscal year 2024 financial results on Aug. 9.

Portfolio Pulse from Erica Kollmann

July 26, 2023 | 5:39 pm

TLRY

Tilray's shares are trading higher after the company reported better-than-expected Q4 results.

Portfolio Pulse from Bill Haddad

July 26, 2023 | 5:38 pm

SPOT

Deutsche Bank analyst Benjamin Black upgraded Spotify Technology SA (NYSE:SPOT) from Hold to Buy with a $180 price target. The upgrade is due to outperforming metrics, 3Q gross margin guide beating consensus, and narrowed operating losses. Black expects ARPU to improve from 3Q onward with pricing as a growth driver. The price increase is expected to drive about 40bps of gross margin improvement from leverage on streaming delivery costs. FY23 operating income forecast decreased due to higher write-downs and increased FX headwinds.

Portfolio Pulse from Anusuya Lahiri

July 26, 2023 | 5:38 pm

AMG

Affiliated Managers Group (AMG) shares are trading lower after the company reported mixed Q2 results.

Portfolio Pulse from Bill Haddad

July 26, 2023 | 5:32 pm

SLGN

Silgan Holdings reported worse-than-expected Q2 results and cut its FY23 outlook, leading to a decrease in its share price.

Portfolio Pulse from Bill Haddad

July 26, 2023 | 5:31 pm

MXL

SIMO

During Wednesday's intraday session, several information technology stocks experienced significant movements. Silicon Motion Technology (SIMO), Sigma Additive Solutions (SASI), Soluna Holdings (SLNH), UTStarcom Holdings (UTSI), VIA optronics (VIAO), and Phunware (PHUN) saw gains, while Inpixon (INPX), MaxLinear (MXL), Powerbridge Technologies (PBTS), SpringBig Holdings (SBIG), Rimini Street (RMNI), and UTime (UTME) experienced losses. MaxLinear's Q2 earnings were also released.

Portfolio Pulse from Benzinga Insights

July 26, 2023 | 5:30 pm

EEFT

Euronet Worldwide reported mixed Q2 results, leading to a decrease in its share prices.

Portfolio Pulse from Bill Haddad

July 26, 2023 | 5:30 pm

TDOC

Teladoc's shares are trading higher following the company's Q2 results, which exceeded expectations.

Portfolio Pulse from Bill Haddad

July 26, 2023 | 5:23 pm

META

Meta Platforms Inc's stock has seen a 139% growth this year but recently experienced an 8% decline. The stock's price has been fluctuating between support and resistance levels. The upcoming earnings report could trigger a significant move in the stock, with projections indicating a rise in earnings per share from $2.20 in Q1 to $2.91 in Q2.

Portfolio Pulse from Zaheer Anwari

July 26, 2023 | 5:18 pm