Streetbeat News

Earnings

DBI

Designer Brands Inc reported positive Q2 results, leading to an increase in its share price.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 1:39 pm

BA

Boeing's CFO has announced that the rework on the AFT Pressure Bulkhead will take longer than the Vertical Fin issue due to the inspection of hundreds of holes. The company also expects negative margins for both BCA and BDS in the current quarter.

Portfolio Pulse from Happy Mohamed

September 07, 2023 | 1:38 pm

SPWH

Sportsman's Warehouse reported worse-than-expected Q2 earnings, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 1:34 pm

ABM

ABM Industries Incorporated reported Q3 FY23 revenue growth of 3.4% Y/Y to $2.028 billion, beating the consensus of $2.01 billion. However, its adjusted EPS of $0.79 missed the consensus of $0.89. The company declared a cash dividend of $0.22 per common share and narrowed its FY23 adjusted EPS guidance range to $3.40-$3.50. ABM shares are trading lower by 5.02% premarket.

Portfolio Pulse from Nabaparna Bhattacharya

September 07, 2023 | 1:26 pm

CHPT

ChargePoint Holdings Inc (NYSE:CHPT) reported worse-than-expected Q2 financial results, causing its shares to trade lower. The company's revenue increased 39% YoY to $150.5 million, missing the consensus estimate of $153.24 million. ChargePoint also reported a quarterly loss of 35 cents per share. The company announced a reorganization of its operations, including a 10% workforce reduction, expected to result in annual operating expense savings of $30 million. Following the results, Needham analyst Chris Pierce maintained a Buy rating for ChargePoint but lowered the price target from $13 to $9. Fox Advisors analyst Steven Fox downgraded the stock from Overweight to Equal-Weight.

Portfolio Pulse from Adam Eckert

September 07, 2023 | 1:25 pm

AEO

American Eagle Outfitters, Inc. (NYSE:AEO) reported better-than-expected earnings for its second quarter and raised its FY2024 operating income guidance. The company posted quarterly earnings of 25 cents per share, beating market estimates of 16 cents per share. The company’s quarterly sales came in at $1.20 billion. American Eagle offers an annual dividend yield of 2.30%, which is a quarterly dividend amount of $0.10 a share ($0.40 a year). To earn $500 per month or $6,000 annually from dividends alone, an investment of approximately $258,000 or around 15,000 shares would be needed.

Portfolio Pulse from Lisa Levin

September 07, 2023 | 1:13 pm

ABM

ABM Industries reported mixed Q3 results and lowered the top end of its FY23 guidance range, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 1:12 pm

BB

BlackBerry Ltd (NYSE:BB) shares are trading lower after the company reported preliminary second-quarter results. The company expects Q2 revenue to be approximately $132 million, lower than previously forecasted due to select government deals failing to close during the quarter. BlackBerry revised its current year IoT revenue outlook due to a shift in the start date for some automakers' software development programs. RBC Capital analyst Paul Treiber reiterated BlackBerry with a Sector Perform rating and price target of $4.50.

Portfolio Pulse from Adam Eckert

September 07, 2023 | 1:09 pm

MEI

Methode Electronics, Inc. (NYSE:MEI) reported a 2.6% YoY net sales growth in Q1 FY24, beating consensus. However, adjusted EPS of $0.06 missed the consensus of $0.23. The company faced operational inefficiencies in its North American Auto operations due to labor and vendor issues. The company's outlook for Q2 and FY24 is below estimates. MEI shares fell by 10% in premarket trading.

Portfolio Pulse from Nabaparna Bhattacharya

September 07, 2023 | 1:06 pm

AREB

ATIF

CHPT

GDC

GHM

GLG

GTEC

LZ

QH

ROL

TTC

During Thursday's pre-market session, several industrial stocks experienced significant movement. American Rebel Holdings, ATIF Holdings, Quhuo, TD Hldgs, and Graham saw gains, while ChargePoint Hldgs, LegalZoom.com, Toro, Greenland Technologies, GD Culture Group, and Rollins experienced losses. ChargePoint and Toro's recent Q2 and Q3 earnings releases respectively may have influenced their stock performance.

Portfolio Pulse from Benzinga Insights

September 07, 2023 | 1:06 pm