Streetbeat News

Earnings

HRYU

Hanryu reported its Q2 financial results, following which its shares traded lower.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 7:11 pm

AMZN

SFIX

TGT

Stitch Fix Inc (NASDAQ:SFIX) reported a 22% YoY revenue drop to $375.8 million for Q4, with a net loss of $28.7 million, a 70% improvement from last year. The annual revenue fell 21% YoY to $1.6 billion, with a net loss of $172 million. The number of active clients dropped 13% YoY. Stitch Fix confirmed it will be shutting its operations in the UK. The company expects further hits, with Q1 revenue expected to decline between 18% and 20%. Amazon.com Inc (NASDAQ:AMZN) announced it will be adding 250,000 U.S. workers. Target Corporation (NYSE:TGT) plans to add 100,000 employees, flat YoY growth. Macy’s Inc (NYSE:M) will be hiring less people compared to last year’s holiday season.

Portfolio Pulse from Upwallstreet

September 19, 2023 | 7:04 pm

BRDS

Bird Global, Inc. (NYSE:BRDS) has acquired shared electric bike and scooter operator Skinny Labs, Inc, (doing business as Spin) from Berlin-based TIER Mobility for $19 million. The acquisition makes Bird the largest micromobility operator in North America by market share. Spin delivered approximately $45 million in net revenue for the 12 months ended June 30, 2023, bringing the combined net revenue for Bird and Spin to approximately $265 million for that period. The transaction is expected to have upwards of $20 million in synergies and be immediately accretive to earnings for Bird.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 6:44 pm

AVGR

AZO

ELUT

HSTO

RVNC

RXT

SXTP

US stocks traded lower with the Dow Jones falling more than 150 points. AutoZone Inc reported better-than-expected earnings for its fourth quarter. Rackspace Technology, Avinger, and Elutia Inc shares shot up after positive news. 60 Degrees Pharmaceuticals, Histogen Inc, and Revance Therapeutics shares dropped due to negative developments. The FOMC starts its two-day policy meeting today.

Portfolio Pulse from Lisa Levin

September 19, 2023 | 6:32 pm

SNX

Stifel analyst Matthew Sheerin reiterated a Buy rating on TD SYNNEX Corporation (SNX), raising the price target to $120 from $110. The company is expected to release its Q3 results on September 26, 2023. The analyst expects sales and adjusted EPS estimates of $14.037 billion and $2.49, respectively. The sales estimate reflects an 8.6% y/y decline, driven by declines in Americas and EMEA. However, advanced solutions and digital transformation initiatives are expected to offset this weakness.

Portfolio Pulse from Nabaparna Bhattacharya

September 19, 2023 | 5:18 pm

SFIX

Stitch Fix, Inc. (NASDAQ:SFIX) missed Q4 earnings estimates with net revenue decreasing 22% YoY. Analysts from Truist Securities and Telsey Advisory Group have reiterated a Hold and Market Perform rating respectively, lowering the price target to $4. The company has been facing challenges with declining active users and revenues. However, analysts see potential for a turnaround in the long term, with profitability expected by FY25.

Portfolio Pulse from Nabaparna Bhattacharya

September 19, 2023 | 4:52 pm

VITL

Vital Farms Inc (NASDAQ:VITL) has updated its long-term financial targets, forecasting annual net revenue of more than $1 billion by the end of fiscal year 2027. The company also expects a gross margin of at least 35% of net revenue by FY2027 and an adjusted EBITDA Margin in the range of 12% to 14%. For FY23, the company reaffirmed its revenue outlook of more than $465 million and expects Adjusted EBITDA of more than $35 million.

Portfolio Pulse from Shivani Kumaresan

September 19, 2023 | 4:15 pm

DAVA

Endava reported better-than-expected Q4 financial results and issued guidance, leading to a reversal in its share price from losses to gains.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 3:50 pm

SFIX

Stitch Fix's shares are trading higher despite mixed Q4 results.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 3:41 pm

TUP

Tupperware Brands (TUP) has seen a significant option alert for November 17 $2 calls. A total of 1546 contracts were traded at $0.35, compared to an open interest of 9. The company is expected to release its earnings on November 1 before the market opens.

Portfolio Pulse from Charles Gross

September 19, 2023 | 3:20 pm