Streetbeat News

Earnings

AMAT

Applied Materials, Inc. (AMAT) shares have dropped by about 4% amid recent volatility in semiconductor and chip stocks. This is due to Taiwan Semiconductor Manufacturing Company (TSMC) reportedly telling its suppliers to postpone the delivery of high-end chipmaking equipment due to demand uncertainty. As a major supplier of such equipment, Applied Materials' revenue and earnings could be directly affected if TSMC delays or postpones orders.

Portfolio Pulse from Henry Khederian

September 19, 2023 | 1:10 pm

DAVA

Endava reported its Q4 financial results and issued guidance, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 1:07 pm

APOG

Apogee Enterprises, Inc. (NASDAQ:APOG) reported a Q2 FY24 sales decline of 5% Y/Y to $353.675 million, missing the consensus of $372.01 million. However, adjusted EPS rose 28% Y/Y to $1.36, above the consensus of $1.12. The company also raised its FY24 adjusted EPS outlook to $4.35-$4.65 from $4.15-$4.45. APOG shares are trading higher by 4.26% to $51.41 premarket.

Portfolio Pulse from Nabaparna Bhattacharya

September 19, 2023 | 1:02 pm

MOB

NIO

RKLB

Mobilicom secured an initial order from one of Europe's largest defense contractors, causing its shares to rise by 27%. Rocket Lab USA shares fell by 29% after technical issues led to the postponement of its next mission and a revision of its Q3 guidance. NIO shares dropped by 6% following the announcement of a proposed offering of $1 billion convertible senior notes.

Portfolio Pulse from ryanfaloona@benzinga.com

September 19, 2023 | 12:46 pm

AZO

AutoZone Inc reported Q4 FY23 sales growth of 6.4% year-on-year to $5.69 billion, beating the analyst consensus of $5.61 billion. EPS of $46.46 also beat the consensus of $45.12. The company saw a 1.7% increase in domestic same-store sales and a 34.1% increase in international sales. Gross margin expanded to 52.7% and operating income climbed 10.8% Y/Y to $1.2 billion. AutoZone opened 53 new stores in the U.S. in the quarter, bringing the total store count to 7,140. The company had $1.8 billion remaining under its share repurchase authorization at year end.

Portfolio Pulse from Shivani Kumaresan

September 19, 2023 | 12:42 pm

X

United States Steel Corporation (NYSE:X) has issued an upbeat profit forecast for the current quarter, expecting an adjusted per-share profit of $1.10 to $1.15, higher than analysts' estimates of $1.01. The company's dividend yield is currently 0.66%, with a quarterly dividend amount of $0.05 a share. The article also explains how an investor can earn $500 monthly from United States Steel dividends, which would require owning approximately $915,900 worth of United States Steel, or 30,000 shares.

Portfolio Pulse from Priya Nigam

September 19, 2023 | 12:34 pm

ISPR

Ispire Technology Inc. (NASDAQ:ISPR) reported a 100.4% YoY growth in revenue from cannabis products, reaching $40 million for the fiscal year 2023. The company's overall revenue increased by 31.2%, driven by the doubling of revenues from cannabis vaping products in the US and a rise in sales of tobacco vaping products in Europe. For the fiscal year 2024, the company projects revenue for cannabis vaping products to be between $80 million and $90 million, representing a growth between 100% and 125% from fiscal year 2023.

Portfolio Pulse from Nina Zdinjak

September 19, 2023 | 12:23 pm

ESS

UDR

VICI

Three high-yielding dividend stocks in the real estate sector have been highlighted by Wall Street's most accurate analysts. These include Essex Property Trust, Inc. (ESS), UDR, Inc. (UDR), and VICI Properties Inc. (VICI). ESS recently posted better-than-expected Q2 sales results, while UDR reported worse-than-expected Q2 revenue results. VICI's total revenues surged 35.5% YoY to $898.2 million in Q2.

Portfolio Pulse from Lisa Levin

September 19, 2023 | 11:35 am

DAVA

Endava (DAVA) has provided its Q1 and FY24 guidance. For Q1, the company expects revenues between £186.0M-£187.0M and adjusted EPS of £0.34-£0.35, representing a constant currency revenue decline of 1.0%-2.0%. For FY24, Endava anticipates revenues of £780.0M-£795.0M and adjusted EPS of £1.52-£1.62, indicating a constant currency growth of 1.0%-3.0%. These estimates are based on the exchange rates as of August 31, 2023.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 11:25 am

DAVA

Endava (NYSE:DAVA) reported Q4 earnings of $0.71 per share, beating the analyst consensus estimate of $0.56 by 27.32%. This is an 11.41% increase from the same period last year. The company also reported quarterly sales of $237.53 million, beating the analyst consensus estimate of $233.43 million by 1.76%, a 4.68% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 11:19 am