Streetbeat News

Earnings

ADBE

CPRT

JBHT

LITB

MITK

Adobe Inc. reported better-than-expected Q3 earnings but issued in-line sales forecast for Q4, leading to a 1.8% drop in shares. Copart, Inc. and Mitek Systems, Inc. reported upbeat Q4 and Q2 results respectively, leading to slight gains in shares. LightInTheBox Holding Co., Ltd. is set to release its Q2 results. J.B. Hunt Transport Services, Inc. announced plans to acquire brokerage assets of BNSF Logistics, LLC, leading to a 1.6% gain in shares.

Portfolio Pulse from Lisa Levin

September 15, 2023 | 7:02 am

PPIH

Perma-Pipe Inlt Hldgs (NASDAQ:PPIH) reported a decrease in Q2 earnings and sales YoY. Earnings per share fell by 43.48% to $0.13 from $0.23, and sales dropped by 5.03% to $35.14M from $37.00M.

Portfolio Pulse from Benzinga Newsdesk

September 15, 2023 | 6:18 am

ARM

LITB

NVDA

The CNN Money Fear and Greed index showed an improvement in investor sentiment, with U.S. stocks closing higher. ARM Holdings' shares jumped over 24% on its U.S. stock market debut after its Nvidia acquisition fell through. Economic data showed producer prices and retail sales in the U.S. rose more than expected. The Dow Jones, S&P 500, and Nasdaq Composite all closed higher. Investors are awaiting earnings results from LightInTheBox Holding.

Portfolio Pulse from Lisa Levin

September 15, 2023 | 5:57 am

OKTA

Okta Inc's shares traded lower on Thursday, pulling back from recent strength. The stock has been trending higher since the end of August, following better-than-expected Q2 earnings results. However, the stock has pulled back over the last week after reaching a three-month high on Monday, with shares falling over 4% on Thursday.

Portfolio Pulse from Ryan Gustafson

September 14, 2023 | 11:00 pm

MAT

WBD

Mattel Inc (NASDAQ:MAT) reported a 25% increase in Barbie toy sales in July and August, following the success of the 'Barbie' movie. The movie, released in mid-July, broke box office records and generated significant publicity for the brand. The strong sales performance could impact Mattel's third-quarter results. Mattel's second-quarter results were already positively impacted by the movie's success, with the company beating revenue and earnings per share estimates. Mattel's CEO hinted that the strong sales could continue into the second half of 2023.

Portfolio Pulse from Chris Katje

September 14, 2023 | 10:54 pm

DTSS

EGAN

FEIM

IDAI

LPTH

MIMO

MRIN

OST

PRSO

RFIL

SLNH

SOFO

In Thursday's after-market session, several information technology stocks saw significant movement. Gainers included Frequency Electronics (NASDAQ:FEIM), Peraso (NASDAQ:PRSO), Datasea (NASDAQ:DTSS), eGain (NASDAQ:EGAN), Soluna Holdings (NASDAQ:SLNH), and Airspan Networks Hldgs (AMEX:MIMO). Losers included LightPath Technologies (NASDAQ:LPTH), Ostin Technology Group (NASDAQ:OST), RF Industries (NASDAQ:RFIL), T Stamp (NASDAQ:IDAI), Marin Software (NASDAQ:MRIN), and Sonic Foundry (NASDAQ:SOFO).

Portfolio Pulse from Benzinga Insights

September 14, 2023 | 9:31 pm

NCPL

Netcapital (NASDAQ:NCPL) reported Q1 losses of $(0.07) per share, a 450% decrease from $0.02 per share last year. However, the company's quarterly sales increased by 13.35% to $1.52 million from $1.34 million the same period last year.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 9:06 pm

AAPL

ARM

NVDA

QCOM

SFTBY

ARM Holdings PLC made its market debut with the year's largest IPO, valued at $54.5 billion. The shares closed at $63.59, up from the IPO price of $51. ARM, known for producing CPUs for Nvidia's AI-driven GPUs, was acquired by SoftBank in 2016. SoftBank retains 90% ownership, selling 10% in the IPO. ARM's CEO discussed the company's growth prospects and ongoing lawsuit with Qualcomm. The lawsuit could potentially disrupt U.S. competitiveness in the semiconductor field. ARM's revenue for fiscal 2023 slightly decreased to $2.679 billion from $2.703 billion.

Portfolio Pulse from AJ Fabino

September 14, 2023 | 9:05 pm

LEN

Lennar Corporation reported Q3 earnings of $3.91 per share, beating the analyst consensus estimate of $3.51. Quarterly sales of $8.73 billion also beat the analyst consensus estimate of $8.45 billion but fell 2.28% from the same period last year. New orders increased 37% to 19,666 homes and the new orders dollar value increased 30% to $8.6 billion. The company anticipates new orders in the fourth-quarter in a range between 16,200 and 17,200.

Portfolio Pulse from Ryan Gustafson

September 14, 2023 | 9:00 pm

NUE

Nucor Corporation (NUE) expects its Q3 earnings for the Steel Mills segment to decline quarter-over-quarter primarily due to lower pricing and, to a lesser extent, volumes.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 8:36 pm