Streetbeat News

Earnings

AILE

BCDA

BIG

ENSC

LUCY

U.S. stocks rose with the Dow Jones up 1% and energy shares climbing 1.5%. Dollar General missed earnings estimates and lowered its 2024 guidance, impacting its stock negatively. BioCardia and Innovative Eyewear saw significant stock increases due to positive news, while iLearningEngines, Ensysce Biosciences, and Big Lots faced declines due to negative reports and financial challenges.

Portfolio Pulse from Avi Kapoor

August 29, 2024 | 6:30 pm

GIS

KHC

MDLZ

SJM

Inflation is impacting consumer spending across various sectors, including food companies like J M Smucker Co. Despite reporting stronger-than-expected EPS, Smucker's shares fell due to lower guidance and cautious commentary. Analysts have lowered price targets for Smucker's, and the trend may affect other food companies like Mondelez, Kraft Heinz, and General Mills. Dollar General also reported earnings below expectations, highlighting a 'cash-strapped' customer base.

Portfolio Pulse from Aaron Bry

August 29, 2024 | 6:11 pm

Zscaler (NASDAQ:ZS) has seen unusual options activity, with significant interest from large investors. The activity includes both bullish and bearish sentiments, with a focus on a price range of $177.5 to $290.0. Zscaler's stock is currently up 2.6% at $199.02, with an earnings announcement expected in 5 days. Analysts have mixed ratings, with target prices ranging from $200 to $230.

Portfolio Pulse from Benzinga Insights

August 29, 2024 | 6:01 pm

CRM

Salesforce shares remain stable after reporting strong Q2 results, surpassing EPS and sales estimates. The company also provided optimistic guidance for Q3 and FY 2025. Despite the CFO's resignation, analysts have raised their price targets.

Portfolio Pulse from Dylan Berman

August 29, 2024 | 5:58 pm

NTAP

NetApp, Inc. (NASDAQ:NTAP) reported better-than-expected earnings for its first quarter, with earnings per share of $1.56 and sales of $1.541 billion, both surpassing analyst estimates. Despite strong results, NetApp shares fell 8% to $121.40. Analysts have adjusted their price targets, with some maintaining neutral or underperform ratings.

Portfolio Pulse from Avi Kapoor

August 29, 2024 | 5:35 pm

DIA

IWM

NVDA

QQQ

SOXX

SPY

US stocks rallied on Thursday as the Dow Jones hit record highs, driven by better-than-expected GDP growth. Nvidia's stock fell over 3% due to unimpressive revenue projections, while other semiconductor stocks and ETFs like iShares Semiconductor ETF gained. Major indices and ETFs, including SPDR S&P 500 ETF Trust and Invesco QQQ Trust Series, saw positive movements.

Portfolio Pulse from Piero Cingari

August 29, 2024 | 5:34 pm

CHWY

Chewy Inc. (NYSE:CHWY) reported better-than-expected Q2 2024 results, with sales of $2.86 billion and an adjusted EPS of $0.24. Analysts have raised the price target to $32, though they note the valuation is stretched. The stock rose 1.71% to $29.21.

Portfolio Pulse from Vandana Singh

August 29, 2024 | 5:29 pm

GAP

Gap, Inc. (NYSE:GAP) reported better-than-expected Q2 earnings, with EPS of 54 cents and sales of $3.72 billion, surpassing analyst expectations. The company raised its FY24 margin outlook, driven by strong performances from Old Navy and Gap, and improved operating and gross margins. GAP shares rose 2.54% following the news.

Portfolio Pulse from Nabaparna Bhattacharya

August 29, 2024 | 5:26 pm

Li Auto Inc. (NASDAQ:LI) shares are trading higher as they recover from losses following a disappointing second-quarter earnings report. B of A Securities raised its price target for Li Auto, while JP Morgan lowered its target. Despite recent setbacks, analysts see potential upside for the stock.

Portfolio Pulse from Erica Kollmann

August 29, 2024 | 5:25 pm

SJM

JM Smucker reported better-than-expected Q1 earnings but lowered its annual outlook, leading analysts to cut their price targets. Despite the earnings beat, the company's revised guidance caused a 1.4% drop in its stock price.

Portfolio Pulse from Avi Kapoor

August 29, 2024 | 5:25 pm