Streetbeat News

Earnings

SILK

Silk Road Medical Inc (NASDAQ:SILK) reported lower than expected Q3 revenue and projected FY23 revenue below consensus. The company's CEO, Erica Rogers, also announced her retirement. Following these announcements, Citi downgraded the stock from Buy to Sell, Piper Sandler lowered the price target, and Stifel downgraded the stock from Buy to Hold.

Portfolio Pulse from Vandana Singh

October 11, 2023 | 7:24 pm

CRM

A significant bullish stance on Salesforce (NYSE:CRM) has been observed, with unusual options activity. The sentiment among these big-money traders is split between 54% bullish and 45% bearish. The price target for Salesforce over the last 3 months has been between $65.0 to $230.0. Several experts have downgraded their actions but with high price targets. The next earnings are expected in 49 days.

Portfolio Pulse from Benzinga Insights

October 11, 2023 | 7:18 pm

RGLD

BMO Capital Markets analyst Jackie Przybylowski has reiterated the Market Perform rating on Royal Gold, Inc (NASDAQ:RGLD), raising the price target to $139 from $137. The company's Q3 2023 Stream Segment Sales beat the analyst's estimates in terms of gold, copper, and overall gold equivalent stream ounces sold. The analyst views ongoing debt repayment and exposure to resource growth as key catalysts for the company.

Portfolio Pulse from Nabaparna Bhattacharya

October 11, 2023 | 7:14 pm

ATO

Mizuho analyst Gabriel Moreen has reiterated a Buy rating on Atmos Energy Corporation (NYSE:ATO), but lowered the price target to $131 from $137 due to industry headwinds. The EPS estimate for FY24 is $6.42/share, implying a 6.1% growth, which is at the lower end of ATO's 6%-8% growth target. This is primarily due to sustained exogenous headwinds, particularly O&M inflation. ATO shares are trading higher by 0.70% to $111.58.

Portfolio Pulse from Nabaparna Bhattacharya

October 11, 2023 | 7:12 pm

NFLX

Piper Sandler analyst Matt Farrell maintained a Neutral rating on Netflix Inc (NASDAQ:NFLX) and lowered the price target from $440 to $400 ahead of Q3 earnings. Farrell cited concerns over margins and leadership changes, particularly the departure of the advertising business leader. He also noted potential price increases on ad-free plans and the continuation of the paid-sharing roll-out. Morgan Stanley analyst Benjamin Swinburne also maintained an Equal-Weight rating on Netflix and lowered the price target from $450 to $430.

Portfolio Pulse from Anusuya Lahiri

October 11, 2023 | 7:07 pm

GS

Goldman Sachs has announced the sale of Greensky to a consortium led by Sixth Street. The transaction is expected to result in a negative $0.19 EPS impact on Goldman Sachs' Q3 2023 results.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 6:41 pm

PEP

PepsiCo Inc (NASDAQ:PEP) reported Q3 FY23 results with sales growth of 6.7% YoY to $23.45 billion, beating the analyst consensus. Adjusted EPS of $2.25 also beat the consensus estimate of $2.15. RBC Capital and Morgan Stanley maintained their ratings, while Bernstein noted that the company's guidance for 2024 was surprisingly high. However, concerns about volume growth persist.

Portfolio Pulse from Shivani Kumaresan

October 11, 2023 | 6:40 pm

SPOT

Piper Sandler analyst Matt Farrell reiterated a Neutral rating on Spotify Technology S.A. (NYSE:SPOT) with a price target of $150. Investors have warmed up to the conservatism in the Q3 subscriber guidance following disappointing net add assumptions. Farrell noted that the price increase only impacts one month of Q3 but will fully impact Q4. He remains on the sidelines heading into the earnings announcement, seeking further clarity on subscriber trends, incremental levers for gross and operating margin, and any signs of an advertising inflection.

Portfolio Pulse from Anusuya Lahiri

October 11, 2023 | 6:35 pm

ERIC

Ericsson has announced an impairment charge of SEK 32 billion and provided an update on its Q3 earnings, which it expects to be in line with guidance.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 6:00 pm

ETWO

HYLN

PHIO

SILK

TPST

VJET

U.S. stocks traded mixed with the Dow Jones falling and NASDAQ and S&P 500 rising. Real estate shares surged while energy shares fell. Tempest Therapeutics, Phio Pharmaceuticals, and voxeljet AG saw significant increases in their shares. Silk Road Medical, E2open Parent Holdings, and Hyliion Holdings saw significant drops in their shares. Producer prices in the U.S. increased 0.5% month-over-month in September, above market expectations.

Portfolio Pulse from Lisa Levin

October 11, 2023 | 4:38 pm