Streetbeat News

Earnings

PEP

RELL

The CNN Money Fear and Greed index showed a slight easing in fear level but remained in the 'Fear' zone. U.S. stocks settled higher on Tuesday, with the 10-year Treasury yield declining to around 4.65%. PepsiCo Inc reported better-than-expected Q3 earnings. Most sectors on the S&P 500 closed positively, except for energy stocks. Investors are awaiting earnings results from Richardson Electronics, Ltd.

Portfolio Pulse from Lisa Levin

October 11, 2023 | 7:45 am

ASTR

AZZ

ETWO

RELL

VOXX

Richardson Electronics (RELL) is expected to report quarterly earnings of 3 cents per share on revenue of $51.10 million. AZZ Inc. (AZZ) posted better-than-expected results for its second quarter and reaffirmed FY24 guidance. Astra Space (ASTR) is exploring strategic options, including asset sales. VOXX International Corporation (VOXX) reported stronger-than-expected sales for its second quarter. E2open Parent Holdings Inc (ETWO) posted downbeat results for its second quarter and named Andrew Appel as interim CEO.

Portfolio Pulse from Lisa Levin

October 11, 2023 | 7:42 am

CMCL

Caledonia Mining has reported a 3Q23 gold production of 21,772 ounces at its Blanket Mine, marking a new quarterly record. This is a 3% increase from the 21,120 ounces produced in the same quarter of 2022. The total gold produced in the nine months to the end of September was 55,244 ounces. The company has reiterated its gold production guidance for 2023 of between 75,000 and 80,000 ounces.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 7:14 am

LGEJY

LG has reported its preliminary 3Q23 results, with consolidated revenues of KRW 20.7 trillion and an operating profit of KRW 996.7 billion. These figures are the second highest third-quarter figures in the company's history. The growth was driven by the home appliances and vehicle solutions businesses, despite the economic slowdown and prolonged decline in demand. The operating profit increased by more than 30 percent compared to the same period last year and the second quarter of 2023.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 6:57 am

FAST

Fastenal Company (NASDAQ:FAST) is set to release its Q3 financial results on Oct. 12, 2023. Analysts predict earnings of 50 cents per share, matching the previous year's earnings, and revenue of $1.85 billion, up from $1.80 billion. Fastenal's stock fell 1.1% to close at $55.85 on Tuesday. Recent analyst ratings include Morgan Stanley's Underweight rating with a price target of $50, Baird's Neutral rating with a price target of $57, Stifel's Buy rating with a price target of $61, and Loop Capital's Hold rating with a price target of $53.

Portfolio Pulse from Lisa Levin

October 11, 2023 | 6:56 am

SKYH

Sky Harbour Group has amended its 2Q23 cash flow statement, restating its net cash used in operating activities to $5.73M from the previously reported $9.1M.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 6:35 am

GATO

Gatos Silver reported a decline of 18% YoY in silver production at its 70% owned Cerro Los Gatos Mine, producing 2.22M ounces in 3Q23. The production of other metals such as zinc, lead, and gold also decreased compared to the previous year.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 6:16 am

HPQ

HP has announced its FY24 outlook, expecting GAAP EPS of $2.75-$3.15 and non-GAAP EPS of $3.25-$3.65, compared to the consensus of $3.47. The company also forecasts free cash flow of $3.1B-$3.6B.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 5:52 am

AZZ

AZZ Inc. reported Q2 earnings of $1.27 per share, beating the analyst consensus estimate of $1.08. The company also reported quarterly sales of $398.50 million, beating the analyst consensus estimate of $396.91 million. The Metal Coatings segment reported record sales of $169.8 million. The company reaffirmed its full-year 2024 guidance, expecting earnings per share to be between $3.85 and $4.35 and sales between $1.40 billion and $1.55 billion. Shares of AZZ were up 3.49% in the after-hours session.

Portfolio Pulse from Ryan Gustafson

October 10, 2023 | 10:57 pm

TSLA

Tesla Inc (NASDAQ:TSLA) has reached a milestone with its Model Y, surpassing two million unit sales in just three and a half years. The Model Y is now one of the bestselling electric vehicles in the world and is poised to outsell the Model 3 in the current fourth quarter. Tesla is guiding to 1.8 million units sold for the full fiscal year and aims for 50% annual production growth. The company's highly anticipated Cybertruck electric pickup is nearing its delivery milestone.

Portfolio Pulse from Chris Katje

October 10, 2023 | 9:54 pm