Streetbeat News

Earnings

AYI

CAG

LEVI

RPM

STZ

US stocks closed higher on Wednesday, with the Dow Jones index snapping a three-session losing streak as Treasury yields eased. RPM International Inc and Acuity Brands, Inc. saw shares gain over 6% and around 7% respectively following better-than-expected quarterly earnings. Investors are awaiting earnings results from Levi Strauss & Co., Conagra Brands, Inc. and Constellation Brands, Inc. The CNN Money Fear and Greed index remained in the 'Extreme Fear' zone.

Portfolio Pulse from Lisa Levin

October 05, 2023 | 9:04 am

EVI

EVI Industries reported Q4 earnings of $0.13 per share, an 18.18% increase YoY. The company also reported $94.04 million in sales, a 13.53% increase YoY.

Portfolio Pulse from Benzinga Newsdesk

October 05, 2023 | 6:46 am

LCID

NIO

RIVN

TSLA

Rivian Automotive, Inc. (NASDAQ:RIVN) announced a $1.5 billion green convertible senior notes offering, causing its stock to drop by 8% in after-hours trading. The proceeds will be used to finance, refinance, and invest in new or recently completed projects. The company also released its Q3 preliminary results, with revenues falling in line with expectations. Rivian expects its cash, cash equivalents, and short-term investments to stand at $9.1 billion at the end of Q3.

Portfolio Pulse from Shanthi Rexaline

October 05, 2023 | 6:37 am

STZ

Constellation Brands, Inc. (NYSE:STZ) is expected to report higher Q2 earnings of $3.36 per share, up from $3.17 per share a year ago. The company's revenue is projected to be $2.82 billion, compared to $2.51 billion in the year-ago period. Several analysts have recently updated their price targets for STZ, with the highest target being $305.

Portfolio Pulse from Lisa Levin

October 05, 2023 | 5:06 am

RIVN

Rivian Automotive has reported preliminary estimates for Q3 2023 revenue of $1.29B-$1.33B, which is in line with estimates of $1.3B. The increase in revenue is primarily due to an increase in vehicle deliveries. The company also believes its existing cash, cash equivalents, and short-term investments will be sufficient to fund operations and capital expenditures through 2025.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 9:47 pm

RIOT

Riot Platforms has announced its Bitcoin production for September, producing 362 Bitcoins and selling 340 at an average net price of $26,379 per Bitcoin.

Portfolio Pulse from Bill Haddad

October 04, 2023 | 8:48 pm

XOM

Exxon Mobil anticipates that changes in industry margins will positively impact its Q3 energy products earnings by $0.9B-$1.1B compared to Q2.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 8:43 pm

XOM

Exxon Mobil anticipates a positive impact on its Q3 upstream earnings due to changes in gas prices. The company expects an increase of $0.2B-$0.6B compared to Q2.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 8:40 pm

ACCD

Accolade, Inc. (NASDAQ:ACCD) shares fell in after-hours trading following the company's Q2 2024 earnings announcement. Despite beating sales estimates, the company's shares dropped by 9.23%. Accolade anticipates Q3 revenue to be between $95 million and $97 million, and full-year 2024 revenue between $410 million and $414 million.

Portfolio Pulse from Ryan Gustafson

October 04, 2023 | 8:37 pm

XOM

Exxon Mobil anticipates a negative impact on its Q3 Chemical Products earnings due to changes in industry margins. The company expects a decrease of $0.6B-$0.4B compared to Q2.

Portfolio Pulse from Bill Haddad

October 04, 2023 | 8:36 pm