Streetbeat News

Earnings

RGF

The Real Good Food Company has announced that its preliminary Q3 net sales are expected to increase by 46-52% YoY, reaching a range of $55M-$57M.

Portfolio Pulse from Bill Haddad

October 10, 2023 | 8:02 pm

NFLX

Netflix shares are trading lower, continuing a nearly 15% downtrend through September and October. The stock did gain over the past week, possibly due to a Wall Street Journal report suggesting the company plans to raise prices after the actors strike ends. However, shares pulled back over 2% on Tuesday. Netflix is set to report its third-quarter earnings next Wednesday, with earnings per share estimated at $3.50 and revenue estimated at $8.53 billion.

Portfolio Pulse from Ryan Gustafson

October 10, 2023 | 7:38 pm

NOG

RBC Capital Markets analyst Scott Hanold has reiterated an Outperform rating on Northern Oil And Gas, Inc. (NYSE:NOG) with a price target of $46. Hanold anticipates strong production and capital spending avenues for NOG, with M&A being a core strategic growth option. The analyst's 3Q23 EPS/CFPS estimates for NOG have increased, reflecting final commodity prices and better oil production. Hanold also expects Q3 capital spending at $195 million, above the consensus estimate. NOG shares are trading higher by 1.27% to $41.01.

Portfolio Pulse from Nabaparna Bhattacharya

October 10, 2023 | 7:35 pm

SQ

Block, Inc. (NYSE:SQ) shares are trading higher after B of A Securities maintained its Buy rating and $71 price objective on the stock. The shares have been down 46% to near all-time lows since the end of July. The company is set to announce its Q3 financial results on Nov. 2. More than 9.7 million shares have been traded in the session, compared to the stock's 100-day average of 10.279 million shares.

Portfolio Pulse from Erica Kollmann

October 10, 2023 | 7:31 pm

AKRO

NEOG

SMX

U.S. stocks traded higher with the Dow Jones gaining around 175 points. Neogen Corporation reported weaker-than-expected results for its first quarter. SMX shares shot up 62% after the company announced it secured a majority stake in True Gold Consortium. Shares of Intrusion Inc. and Startek, Inc. also rose significantly. Akero Therapeutics, Athersys, Inc., and Ventyx Biosciences saw their shares drop after reporting disappointing results or news.

Portfolio Pulse from Lisa Levin

October 10, 2023 | 6:46 pm

DCPH

Deciphera Pharmaceuticals has an option alert for January 19 with $12.5 calls at the ask price of $1.29. This is against an open interest of 107. The company's earnings are expected on November 2 before the market opens. The reference price is $11.05.

Portfolio Pulse from Charles Gross

October 10, 2023 | 6:21 pm

EA

Benchmark analyst Mike Hickey reiterated a Buy rating and a $153 price target for Electronic Arts Inc (EA). Despite concerns over Apex Legends' growth, Hickey remains cautiously optimistic about EA's upcoming 2Q24 financial results. Key releases in the quarter included EA Sports FC 24 and Madden NFL 24, with EA Sports FC 24 showing strong launch numbers. However, the decision to remove FIFA 23 from digital stores before the launch of EA Sports FC could impact catalog sales. Hickey projects Q2 revenue of $1.70 billion vs. consensus $1.77 billion and EPS of $1.09 vs. consensus $1.25.

Portfolio Pulse from Anusuya Lahiri

October 10, 2023 | 6:05 pm

BA

Boeing Co's shares are trading higher after the company reported third-quarter deliveries of 105 commercial airplanes, bringing the total for the year to 371. The company's gross orders for the year have climbed to 848, increasing the backlog to 5,172 orders. The ongoing Israel-Hamas conflict, which has boosted several defense stocks, may also be contributing to the rise in Boeing's shares. The company is expected to report a Q3 earnings loss of $3.04 per share and quarterly revenue of $18.62 billion.

Portfolio Pulse from Adam Eckert

October 10, 2023 | 5:46 pm

AKAM

LUMN

Akamai Technologies Inc (AKAM) has acquired select Content Delivery Network contracts from Lumen Technologies Inc (LUMN). The acquisition is expected to add around $40 million-$50 million in revenue and be accretive to adjusted EPS by $0.08-$0.12 for FY24. Both companies will operate under a transition services agreement for the first 90 days, after which Lumen plans to wind down its content delivery services. No material impact of the acquisition on FY23 results is expected.

Portfolio Pulse from Lekha Gupta

October 10, 2023 | 5:06 pm

BA

Boeing's shares are trading higher following the company's Q3 deliveries report. The stock's movement may also be influenced by the ongoing Israel-Hamas conflict.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 4:37 pm