Streetbeat News

Earnings

SAVE

Spirit Airlines, Inc. (NYSE:SAVE) stock rose over 5% on Thursday, breaking its recent downtrend caused by ongoing pressure on airlines. The company had lowered its Q3 revenue guidance last week due to rising fuel costs. However, the stock's rise was backed by above-average trading volume.

Portfolio Pulse from Ryan Gustafson

September 21, 2023 | 8:11 pm

ESP

Espey Mfg & Electronics reported Q4 earnings of $0.36 per share, a 227.27% increase YoY. However, sales decreased by 1.63% to $8.34 million compared to $8.48 million in the same period last year.

Portfolio Pulse from Happy Mohamed

September 21, 2023 | 8:10 pm

SCHL

Scholastic (NASDAQ:SCHL) reported Q1 losses of $2.20 per share, missing the analyst consensus estimate of $1.20 by 83.33%. This is a 65.41% decrease from the same period last year. The company also reported quarterly sales of $228.50 million, missing the analyst consensus estimate of $268.79 million by 14.99%. This is a 13.08% decrease from the same period last year.

Portfolio Pulse from Happy Mohamed

September 21, 2023 | 8:05 pm

FLUX

Flux Power Holdings (NASDAQ:FLUX) reported Q4 sales of $16.30 million, missing the analyst consensus estimate of $16.39 million by 0.55 percent. However, this is a 7.27 percent increase over sales of $15.20 million the same period last year.

Portfolio Pulse from Happy Mohamed

September 21, 2023 | 8:04 pm

SCHL

Scholastic (NASDAQ:SCHL) reported Q1 losses of $(2.35) per share, missing the analyst consensus estimate of $(1.20) by 95.83%. This is a 76.69% decrease from the same period last year. The company also reported quarterly sales of $228.50 million, missing the analyst consensus estimate of $268.79 million by 14.99%. This is a 13.08% decrease from the same period last year.

Portfolio Pulse from Happy Mohamed

September 21, 2023 | 8:03 pm

GOOG

GOOGL

Alphabet Inc's shares are trading lower due to overall market weakness, concerns about future rate hikes following the FOMC statement, and lower-than-expected initial jobless claims data. Economic concerns can impact Alphabet's ad revenue growth, a key metric for investors. Rising interest rates can increase the company's borrowing costs, affecting its interest expenses and potentially leading to lower profitability.

Portfolio Pulse from Henry Khederian

September 21, 2023 | 7:42 pm

VFS

VinFast expects to deliver between 40,000 and 50,000 vehicles in FY2023. The company is on track to start delivering the VF 9 in North America and the VF 6 in Vietnam by the end of this year. Deliveries of VF 7 and VF 3 are expected to commence in 2024. The company's capex for 2023-24 is expected to remain at the level incurred in 1H2023. VinFast believes it has sufficient growth potential in the coming years and continues to seek opportunities to strengthen its balance sheet.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 7:41 pm

VFS

VinFast has reported its unaudited financial results for Q2 2023. The company's quarterly revenues reached $334.1M, a 131.2% increase from Q2 2022 and a 303.3% increase from Q1 2023. Vehicle sales were $314.6M, up 147.0% from Q2 2022 and 387.3% from Q1 2023. The company delivered 9,535 EVs, a 436% increase from Q1 2023. However, the company reported a net loss of $526.7M, though this is an improvement from previous quarters.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 7:37 pm

XOM

RBC Capital Markets analyst Biraj Borkhataria reiterated a Sector Perform rating on Exxon Mobil Corporation (NYSE:XOM) with a price target of $120. The analyst noted that Exxon's investments in refining capacity are starting to yield results and could drive $10 billion in earnings growth by 2027. However, the analyst believes that some of the growth potential is already reflected in the current share price and sees better value elsewhere in the sector.

Portfolio Pulse from Nabaparna Bhattacharya

September 21, 2023 | 7:23 pm

QSG

QuantaSing Group Limited's (NASDAQ:QSG) shares have been trading lower since its Q4 earnings report last week, with a 63% drop over the past five days. The company also announced the acquisition of Kelly's Education, an online language education platform. Noble Capital Markets initiated coverage on QuantaSing with an Outperform rating and a price target of $10.

Portfolio Pulse from Ryan Gustafson

September 21, 2023 | 7:03 pm