Streetbeat News

Earnings

AEO

American Eagle Outfitters Inc's (NYSE:AEO) shares rose in after-hours trading following the release of its Q2 results. The company's gross margin expanded by 680 basis points to 37.7% in Q2, driven by lower markdowns, transportation and product costs, and delivery, distribution, and warehousing costs. The company also raised its full-year guidance due to stronger-than-expected Q2 results and continued momentum. Telsey Advisory Group maintained a Market Perform rating but raised the price target from $15 to $19.

Portfolio Pulse from Priya Nigam

September 07, 2023 | 2:50 pm

BLNK

CHPT

Shares of Blink Charging Co (NASDAQ:BLNK) fell by 7.67% due to disappointing Q2 results from peer EV charging company ChargePoint Holdings Inc (NASDAQ:CHPT). ChargePoint reported a net loss of 24 cents per share, missing the analyst consensus estimate of a loss of 15 cents. Its quarterly sales of $150.49 million were also slightly below the analyst consensus estimate of $153.24 million by 1.79 percent.

Portfolio Pulse from Henry Khederian

September 07, 2023 | 2:40 pm

BLNK

Blink Charging's stock price is falling in sympathy with ChargePoint, which reported worse-than-expected Q2 results.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 2:40 pm

DOCU

DocuSign, Inc. (NASDAQ:DOCU) is set to report its Q2 fiscal 2024 results on Sept. 7, 2023. Analysts predict earnings of 66 cents per share, up from 44 cents per share in the previous year, and revenue of $677.56 million, up from $622.18 million. Several analysts have revised their ratings and price targets for the company, with a range of views from 'Sell' to 'Buy'.

Portfolio Pulse from Lisa Levin

September 07, 2023 | 2:37 pm

GIII

HBI

G-III Apparel Group Ltd reported Q2 FY24 sales growth of 9% YoY to $659.76 million, beating the analyst consensus. The company also raised its FY23 adjusted EPS guidance and entered into a strategic multi-year license agreement with Hanesbrands Inc. for the design, production, and distribution of outerwear for the Champion and C9 Champion brands in North America. Following the news, GIII shares rose by 15.5%.

Portfolio Pulse from Shivani Kumaresan

September 07, 2023 | 2:34 pm

ATVI

GME

MSFT

GameStop Corporation (NYSE:GME) exceeded Wall Street estimates with its Q2 results, showing signs of successful efforts to boost the company’s digital presence. The company reported a 2% rise in revenue to $1.16 billion, attributed to significant software releases and increased sales of new gaming hardware. GameStop shares rose almost 6% in extended trading. The company is also reducing its physical presence, closing stores in Europe. Meanwhile, Microsoft (NASDAQ:MSFT) is nearing the completion of its acquisition of Activision Blizzard (NASDAQ:ATVI), and Electronic Arts (NASDAQ:EA) is focusing on growing its existing franchises.

Portfolio Pulse from Upwallstreet

September 07, 2023 | 2:20 pm

NEOG

Neogen Corp's shares are trading lower after the company reported modestly negative core growth, slightly below expectations for Q1.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 2:17 pm

DBI

Designer Brands Inc (DBI) reported a Q2 FY23 sales decline of 7.8% YoY to $792.2 million, beating the analyst consensus. Adjusted EPS of $0.59 also beat the consensus of $0.44. The company reaffirmed its FY23 EPS outlook of $1.20 - $1.50, against a consensus of $1.29. DBI shares are trading higher by 19.36% at $12.39.

Portfolio Pulse from Shivani Kumaresan

September 07, 2023 | 2:17 pm

Qudian Inc reported weak Q2 results, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 2:13 pm

AMEH

BASE

CVGW

DBI

GIII

NRIX

PATH

WLY

WRK

Despite a mostly lower trading day, several stocks recorded gains. Designer Brands, G-III Apparel Group, and Calavo Growers reported upbeat Q2 and Q3 results respectively, leading to significant stock price increases. Nurix Therapeutics rose after a deal with Seagen, while Couchbase gained following Q2 results. WestRock Company is discussing a potential combination with Smurfit Kappa Group, and UiPath reported better-than-expected Q2 results. Apollo Medical Holdings and John Wiley & Sons also saw increases following strong quarterly results.

Portfolio Pulse from Lisa Levin

September 07, 2023 | 2:01 pm