Streetbeat News

Earnings

DOCN

INSG

Several IT stocks showed significant movement in Friday's pre-market session. DigitalOcean Holdings (DOCN), Research Frontiers (REFR), CalAmp (CAMP), Sprout Social (SPT), eGain (EGAN), and Mawson Infra Gr (MIGI) saw gains, with DOCN leading with a 27.2% increase. On the other hand, Inseego (INSG), BILL Holdings (BILL), Fortinet (FTNT), Ubiquiti (UI), WaveDancer (WAVD), and My Size (MYSZ) experienced losses, with INSG falling by 29.5%. Most of these movements were influenced by the release of Q3 earnings reports.

Portfolio Pulse from Benzinga Insights

November 03, 2023 | 1:05 pm

CAH

Cardinal Health Inc (NYSE:CAH) reported Q1 FY24 adjusted EPS of $1.73, up 44% Y/Y, beating the consensus of $1.41. Sales increased 10% to $54.80 billion, beating the consensus of $54.76 billion. The company raised its FY24 adjusted EPS guidance to $6.75-$7.00 from prior guidance of $6.50-$6.75. CAH shares are up 3.61% at $97.17 during the premarket session.

Portfolio Pulse from Vandana Singh

November 03, 2023 | 1:05 pm

QSR

Restaurant Brands International Inc (NYSE:QSR) reported Q3 FY23 sales growth of 6.4% YoY to $1.837 billion, missing the analyst consensus estimate of $1.874 billion. Consolidated comparable sales increased 7%, and net restaurants grew 4.2% versus the prior year. Adjusted EPS of $0.90 beat the consensus estimate of $0.86. The company held $1.3 billion in cash and equivalents as of September 30, 2023, and declared a dividend of $0.55 per common share. QSR shares traded lower by 3.03% at $67.00 premarket on Friday.

Portfolio Pulse from Shivani Kumaresan

November 03, 2023 | 1:00 pm

PLTR

Palantir Technologies, Inc. (NYSE:PLTR) shares traded flat in premarket trading Friday after a 20%+ rally in the previous session on the back of a third-quarter beat. Wedbush analyst Daniel Ives maintained an Outperform rating and $25 price target for Palantir stock. Palantir is witnessing heightened demand for its product portfolio across government and commercial sectors, which manifested in the third quarter double beat and guidance raise. The 23% year-over-year revenue growth in the commercial customer sector to $251 million was due to the increased adoption by new customers and the expansion of existing opportunities within AIP, as well as a faster go-to-market motion.

Portfolio Pulse from Shanthi Rexaline

November 03, 2023 | 12:56 pm

CFLT

KD

O

SITM

Jim Cramer, on CNBC's 'Mad Money Lightning Round', expressed his views on several stocks. He appreciated the work of Martin Schroeter at Kyndryl Holdings Inc (KD) and recommended Realty Income Corp (O). He also commented on the 42% drop in Confluent Inc's (CFLT) shares post earnings, stating that the company isn't as bad as the drop suggests. He admitted needing to do more research on SiTime Corp (SITM).

Portfolio Pulse from Lisa Levin

November 03, 2023 | 12:55 pm

HOWL

SQ

TNON

Block (SQ) shares are trading higher after reporting better-than-expected Q3 results and issuing Q4 guidance. Tenon Medical (TNON) passed a FDA Quality System Inspection Technique Level 2 Inspection. Werewolf Therapeutics (HOWL) presented preliminary data from a Phase 1/1b clinical trial at the Society for Immunotherapy of Cancer's annual meeting.

Portfolio Pulse from ryanfaloona@benzinga.com

November 03, 2023 | 12:54 pm

AAPL

DOCN

SQ

Several stocks are experiencing significant pre-market trading movements. Altamira Therapeutics, Eiger BioPharmaceuticals, DigitalOcean Holdings, Block, Novo Integrated Sciences, EZGO Technologies, DermTech, Hippo Holdings, Inflarx, and Rail Vision are all seeing gains, with DigitalOcean and Block both reporting better-than-expected Q3 results. On the other hand, BILL Holdings, Fortinet, Inseego Corp, Fox Factory Holding, Mountain Crest Acquisition, Biodexa Pharmaceuticals, Invo Bioscience, Secoo Holding, ARB IOT Group, and Apple are all seeing losses. Apple reported strong Q4 earnings and sales, but iPhone revenue was slightly below expectations.

Portfolio Pulse from Lisa Levin

November 03, 2023 | 12:41 pm

AAPL

AMZN

MSFT

SBUX

Starbucks Corporation has announced a strategy to focus on growing profits, which includes technology partnerships with Microsoft, Apple, and Amazon. The company plans to double hourly income in the U.S. by FY25, expand stores to 55,000 globally by 2030, and double its global Starbucks Rewards Members from 75 million within five years. Starbucks also expects FY24 revenue growth at the lower end of the 10% - 12% forecast and global comparable sales growth to be 5% - 7%.

Portfolio Pulse from Nabaparna Bhattacharya

November 03, 2023 | 12:33 pm

SPY

USA Average Hourly Earnings for October increased by 0.2%, which is lower than the estimated 0.3% and the prior 0.3%.

Portfolio Pulse from Benzinga Newsdesk

November 03, 2023 | 12:32 pm

IT

Gartner has raised its FY23 guidance. The company now expects adjusted EPS to be at least $10.90, up from the previous guidance of at least $10 and above the consensus estimate of $10.32. The company also increased its FY23 total revenue guidance from at least $5.85 billion to $5.89 billion, which is also above the consensus estimate of $5.85 billion.

Portfolio Pulse from Benzinga Newsdesk

November 03, 2023 | 12:32 pm