Streetbeat News

Earnings

AAPL

China has banned the use of Apple's iPhones and other foreign-branded devices by government officials, which could extend to sensitive departments, government-affiliated entities, and state-owned enterprises. This could result in a substantial headwind of 5 to 10 million units for Apple, significantly impacting the tech giant. Bank of America analysts estimate that for every 1 million iPhones sold, there’s a potential $0.01-per-share impact on Apple’s earnings. If Huawei claws back 10 million units from Apple in China, it could translate into an $0.11 headwind to Apple’s 2024 earnings per share.

Portfolio Pulse from Piero Cingari

September 07, 2023 | 4:16 pm

DOOO

BRP Inc. (NASDAQ:DOOO) reported a 14% YoY increase in Q2 FY24 sales to $2.081 billion, beating the consensus estimate of $1.98 billion. The increase in sales is attributed to high deliveries of units due to improvements in the supply chain and sustained demand. The company's North American retail sales for Powersports Products increased by 41% YoY. BRP also increased its full year-end guidance for normalized EPS.

Portfolio Pulse from Nabaparna Bhattacharya

September 07, 2023 | 4:12 pm

INTA

Intapp's shares are trading lower despite the company reporting better-than-expected Q4 results.

Portfolio Pulse from Bill Haddad

September 07, 2023 | 4:09 pm

KFY

Korn Ferry (NYSE:KFY) reported Q1 FY23 total revenue growth of 0.5% YoY to $706.26 million, beating the consensus of $684.93 million. Adjusted EPS of $0.99 also beat the estimate of $0.91. However, operating income nearly halved to $56.8 million. The company's diversification strategy was credited for the positive results. KFY expects Q2 FY24 adjusted EPS of $0.91 - $1.01, versus consensus of $0.96. KFY shares are trading lower by 1.07% to $49.33.

Portfolio Pulse from Nabaparna Bhattacharya

September 07, 2023 | 4:01 pm

ABM

AREB

EDBL

PALI

SASI

SPWH

WHLR

U.S. stocks traded mostly lower with the Nasdaq Composite falling around 200 points. ABM Industries reported weaker-than-expected earnings for its third quarter, with adjusted EPS of $0.79 missing the consensus of $0.89. Sigma Additive Solutions, Wheeler Real Estate Investment Trust, and American Rebel Holdings saw their shares rise significantly. Palisade Bio, Sportsman's Warehouse Holdings, and Edible Garden AG saw their shares drop significantly.

Portfolio Pulse from Lisa Levin

September 07, 2023 | 4:00 pm

AVTR

Avantor has seen a significant increase in the number of call options for November 17 at $22.5. The company is expected to release its earnings report on October 27 before the market opens.

Portfolio Pulse from Charles Gross

September 07, 2023 | 3:46 pm

ROKU

Roku Inc (NASDAQ:ROKU) updated its Q3 guidance, leading to a pullback in shares. Analyst Laura Martin from Needham maintained a Buy rating and raised the price target from $85 to $100. Roku's new CFO, Dan Jedda, is expected to bring a free cash flow-first focus to the company. Analyst Daniel Kurnos from Benchmark reiterated a Buy rating and increased the price target from $89 to $115. Despite the company's guidance to higher revenue and EBITDA, the 2024 consensus may not change significantly due to ongoing macroeconomic uncertainty.

Portfolio Pulse from Priya Nigam

September 07, 2023 | 3:29 pm

PLAY

Dave & Buster's Entertainment Inc (NASDAQ:PLAY) reported weaker-than-expected Q2 sales of $542.10 million, missing the consensus estimate of $559.00 million. However, it beat earnings per share estimates by a cent. Following the announcement, the company's shares dipped 6%. Analysts from Raymond James, BMO Capital, and Truist Securities have subsequently lowered their price targets for the company.

Portfolio Pulse from Lisa Levin

September 07, 2023 | 3:09 pm

WPM

Wheaton Precious Metals (NYSE:WPM) is set to issue a dividend payout of $0.15 per share, resulting in an annualized dividend yield of 1.36%. The company has shown a positive trend in dividend per share from 2019 to 2022, increasing from $0.36 to $0.60. Additionally, earnings per share have also increased from $0.47 to $1.18 during the same period. This indicates a strong financial position and the ability to sustain dividend distributions.

Portfolio Pulse from Benzinga Insights

September 07, 2023 | 3:05 pm

MTRN

Materion (NYSE:MTRN) has announced a dividend payout of $0.13 per share, resulting in an annualized dividend yield of 0.49%. The company has seen an increase in dividend per share from $0.43 to $0.49 between 2019 and 2022, and an increase in earnings per share from $3.16 to $4.46 over the same period. This suggests that Materion is in good financial standing and could continue to distribute profits back to investors.

Portfolio Pulse from Benzinga Insights

September 07, 2023 | 3:05 pm