Streetbeat News

Earnings

KN

Knowles Corporation reported better-than-expected Q3 adjusted EPS results, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

November 03, 2023 | 4:16 pm

AMCX

AMC Networks Inc reported a Q3 FY23 revenue decline of 6.6% Y/Y to $636.95 million, missing the consensus of $657.80 million. U.S. ad sales were down 18% at $147 million. Affiliate revenue decreased 13% due to basic subscriber declines. However, streaming subscribers increased 4% to 11.1 million and streaming revenues of $142 million increased 9%. Adjusted EPS of $1.85 fell 11.9% YY, beating the consensus of $1.28. The company lowered its full-year 2023 revenue target from $2.8 billion to $2.7 billion. AMC shares are up 17.60% at $15.50.

Portfolio Pulse from Vandana Singh

November 03, 2023 | 4:16 pm

IAS

Integral Ad Science reported better-than-expected Q3 financial results and issued FY23 revenue guidance above estimates, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

November 03, 2023 | 4:16 pm

BILL

CPS

FOXF

INSG

QRTEA

TNON

US stocks traded higher with the Dow Jones index gaining over 200 points. Real estate shares jumped by 3.1% while energy shares fell by 1%. Tenon Medical, Qurate Retail, and Cooper-Standard Holdings saw significant gains after positive news, while Fox Factory Holding, BILL Holdings, and Inseego Corp. saw significant drops after negative news. The ISM services PMI declined to 51.8 in October, from 53.6 in September.

Portfolio Pulse from Lisa Levin

November 03, 2023 | 4:12 pm

TU

Telus Corp (NYSE:TU) reported a 7.2% YoY increase in Q3 FY23 operating revenues to $3.73 billion, driven by higher volumes and project ramp-ups across key clients. The company's Health business unit reported Q3 revenues of $422 million, with a 20% EBITDA growth. Total telecom subscriber connections grew 7.2% YoY to 18.94 million, with 406,000 new customer net additions in the quarter. The company's Board declared a quarterly dividend of $0.3761 per share, reflecting a 7.1% increase from the previous year. Telus reaffirmed its FY23 outlook, expecting operating revenue growth of 9.5%-11.5%, Adjusted EBITDA growth of 7%-8%, and Free cash flow of ~1.5 billion.

Portfolio Pulse from Akanksha Bakshi

November 03, 2023 | 4:11 pm

CNK

Cinemark Holdings Inc (NYSE:CNK) reported Q3 FY23 sales growth of 34.5% YoY to $874.80 million, beating the analyst consensus. EPS of $0.61 also exceeded expectations. Admissions and concession revenues increased significantly, driven by a 27.9% increase in attendance. The company's aggregate screen count was 5,765, with commitments to open four new theatres and 41 screens over the next two years. Despite the positive report, CNK shares are trading lower by 2.02%.

Portfolio Pulse from Nabaparna Bhattacharya

November 03, 2023 | 4:09 pm

PLUG

Plug Power Inc. (NASDAQ:PLUG) shares are trading higher, with a 12% increase over the last five days. The company's shares are moving on above-average volume, with over 15.8 million shares traded in the session. The company recently joined the Department of Energy's Appalachian Regional Clean Hydrogen Hub (ARCH2) as a project partner, vendor, and service provider. Plug Power is set to report its Q3 financial results on Nov. 9, with an expected loss of 31 cents per share and quarterly revenue of $242.24 million.

Portfolio Pulse from Erica Kollmann

November 03, 2023 | 4:07 pm

RAPT

RAPT Therapeutics has announced data from its Phase 2 trial of FLX475 in combination with a checkpoint inhibitor in patients with advanced non-small cell lung cancer (NSCLC). The trial showed a confirmed objective response rate (ORR) of 40% in PD-L1 positive patients with no prior checkpoint inhibitor therapy and a median progression-free survival (PFS) of 6.3 months. The company plans to advance the development of FLX475 based on these results.

Portfolio Pulse from Benzinga Newsdesk

November 03, 2023 | 4:03 pm

PCTY

Paylocity Holding Corporation (NASDAQ:PCTY) reported better-than-expected Q1 earnings of $1.40 per share, beating market estimates of $1.14 per share. The company's revenue was $317.6 million, slightly above expectations of $316 million. Despite the positive results, Paylocity shares fell 14.1% to trade at $147.72. Analysts from Piper Sandler, Keybanc, and Needham lowered their price targets on Paylocity following the earnings announcement.

Portfolio Pulse from Lisa Levin

November 03, 2023 | 4:02 pm

TRIP

TripAdvisor (NASDAQ:TRIP) is set to release its latest quarterly earnings report on November 6, 2023. Analysts estimate an earnings per share (EPS) of $0.46. The company's past performance shows a trend of share price drops following earnings misses. The stock is currently trading at $14.66, down 34.29% over the last 52-week period.

Portfolio Pulse from Benzinga Insights

November 03, 2023 | 4:02 pm