Streetbeat News

Earnings

ADBE

Mizuho Securities analyst Gregg Moskowitz has upgraded Adobe Inc (NASDAQ:ADBE) from Neutral to Buy, raising the price target from $520 to $630. This comes ahead of Adobe's fiscal third-quarter earnings release, with enterprise checks suggesting a healthy performance. Moskowitz expects Adobe to exceed the fiscal third-quarter estimate for net new Digital Media ARR due to an acceleration in web traffic. He also anticipates strong large deal activity in the next quarter and sees GenAI as a significant growth driver for Adobe.

Portfolio Pulse from Priya Nigam

September 08, 2023 | 2:36 pm

AAPL

CVX

GM

GOOG

GS

HOFT

ILMN

KR

LLY

PVH

SPOT

STLA

TWTR

ZM

Elon Musk's acquisition of Twitter (now X) has reportedly lost 90% of its value. General Motors' wage offer has been branded as 'insulting' by UAW President Shawn Fain. Stellantis has opened its first Battery Technology Center in Italy. Kroger and Albertsons have agreed to sell select assets to C&S Wholesale Grocers for $1.9 billion. Kroger also reported a Q2 sales decline and reached a settlement for opioid claims. UK's NICE has endorsed Eli Lilly's diabetes medication, Mounjaro. Hooker Furnishings reported a Q2 sales decline. PVH Corp's subsidiary, Calvin Klein, has signed a licensing deal with Revman. Apple has responded to the discovery of zero-day exploits. Workers at Chevron's LNG projects in Australia have gone on strike. Zoom has engaged with regulators over Microsoft's perceived anticompetitive behavior. Google has cut ties with Joshua Wright over sexual harassment allegations. Goldman Sachs is preparing for another round of job cuts. Spotify plans to offer free audiobooks to its paying subscribers. Carl Icahn has shown support for Illumina's new CEO.

Portfolio Pulse from Vandana Singh

September 08, 2023 | 2:32 pm

GATO

KR

LTRX

SMAR

Several US stocks traded higher on Friday, with Lantronix, Smartsheet, Smith & Wesson Brands, Gatos Silver, Guidewire Software, CymaBay Therapeutics, Seneca Foods, IonQ, Lifezone Metals, Aclaris Therapeutics, STAAR Surgical, Precision Drilling, and The Kroger Co. all recording gains. Notable movements include Lantronix's 26.3% jump following better-than-expected quarterly sales, Smartsheet's 14.1% rise after a Q2 earnings beat and strong guidance, and Gatos Silver's 13% increase after an upgrade from Canaccord Genuity. The Kroger Co. rose 4% following quarterly results and reaching an opioid settlement agreement.

Portfolio Pulse from Lisa Levin

September 08, 2023 | 2:29 pm

KR

Kroger's CFO has announced that the company expects its Q3 adjusted EPS to be in line with the prior year and slightly ahead of the prior year in Q4.

Portfolio Pulse from Benzinga Newsdesk

September 08, 2023 | 2:27 pm

ARQT

BIOC

GROM

RENT

RH

VERB

U.S. stocks traded mostly higher with the Nasdaq Composite gaining around 60 points. RH (NYSE:RH) reported better-than-expected Q2 earnings, beating the analyst consensus estimate and raising its revenue guidance for 2023. Biocept, Inc. (NASDAQ:BIOC), Verb Technology Company, Inc. (NASDAQ:VERB), and Lantronix, Inc. (NASDAQ:LTRX) saw their shares rise significantly. However, Grom Social Enterprises, Inc. (NASDAQ:GROM), Rent the Runway, Inc. (NASDAQ:RENT), and Arqit Quantum Inc. (NASDAQ:ARQT) experienced a drop in their shares.

Portfolio Pulse from Lisa Levin

September 08, 2023 | 2:03 pm

FCEL

FuelCell Energy (NASDAQ:FCEL) is set to release its latest quarterly earnings report on September 11, 2023. Analysts estimate an earnings per share (EPS) of $-0.08. The company's past performance shows a mixed trend of beating and missing EPS estimates, which has led to varied stock price changes. The company's shares were trading at $1.46 as of September 07, with a 67.41% decrease over the last 52-week period.

Portfolio Pulse from Benzinga Insights

September 08, 2023 | 2:01 pm

AVO

Mission Produce (NASDAQ:AVO) is set to release its latest quarterly earnings report on Monday, 2023-09-11. Analysts estimate an earnings per share (EPS) of $0.22. The company's past performance shows a pattern of share price changes following earnings reports. The stock is currently trading at $9.05, down 42.93% over the last 52-week period.

Portfolio Pulse from Benzinga Insights

September 08, 2023 | 2:01 pm

SKIL

Skillsoft (NYSE:SKIL) is set to release its latest quarterly earnings report on Monday, 2023-09-11. Analysts estimate an EPS of $-0.19. The company's past performance shows a trend of share price drops following earnings reports. Shares are currently trading at $1.26 and are down 43.86% over the last 52-week period.

Portfolio Pulse from Benzinga Insights

September 08, 2023 | 2:01 pm

BIOX

Bioceres Crop Solutions (NASDAQ:BIOX) is set to release its latest quarterly earnings report on Monday, 2023-09-11. Analysts estimate an earnings per share (EPS) of $0.05. The company's past performance shows a trend of beating EPS estimates, which often leads to an increase in share price. However, the stock has been down 17.11% over the last 52-week period.

Portfolio Pulse from Benzinga Insights

September 08, 2023 | 2:00 pm

MTRX

Matrix Service (NASDAQ:MTRX) is set to release its latest quarterly earnings report on Monday, 2023-09-11. Analysts estimate an EPS of $-0.21. Last quarter, the company missed EPS by $0.14, followed by a 3.7% increase in share price. Shares of Matrix Service were trading at $7.98 as of September 07, with a 52-week increase of 40.74%.

Portfolio Pulse from Benzinga Insights

September 08, 2023 | 2:00 pm