Streetbeat News

Earnings

CCJ

Cameco has revised its 2023 production forecast due to challenges at the Cigar Lake mine and Key Lake mill. The company now expects to produce up to 16.3 million pounds of uranium concentrate at Cigar Lake, down from the previous forecast of 18 million pounds. Production at Key Lake is anticipated to be 14 million pounds, down from the previous forecast of 15 million pounds. Factors impacting production include equipment reliability issues, operational changes, personnel availability, and supply chain challenges.

Portfolio Pulse from Charles Gross

September 03, 2023 | 9:48 pm

BYDDF

TSLA

Chinese EV manufacturer BYD Co Ltd., backed by Warren Buffett, reported an 86% increase in new energy vehicle deliveries for August, including plug-in hybrid and battery-electric vehicles. Battery-electric vehicle (BEV) sales reached 155,967 units in August, up 88% YoY and 11% MoM. Despite BYD's growth, Tesla Inc. continues to lead the Chinese market with a 60% YoY increase in sales, selling about 325,000 units through July. BYD's shares rose 0.4% in overseas trading, and its US-listed ADRs saw a 2.5% increase, while Tesla's stock fell about 2% in early trading Friday.

Portfolio Pulse from Benzinga Neuro

September 02, 2023 | 4:04 am

CIFR

Cipher Mining Inc. (NASDAQ:CIFR) released its unaudited production and operations update for August 2023. The company produced ~357 BTC in August, a ~15% decrease MoM, and sold ~355 BTC, ending the month with a balance of ~519 BTC. Cipher continued to expand operations at its Odessa facility and expects to energize all rigs in early September, bringing the total self-mining hash rate to 7.2 EH/s. The company also added a $10mm term credit facility with Coinbase to its treasury management platform.

Portfolio Pulse from Happy Mohamed

September 01, 2023 | 8:08 pm

OLLI

KeyBanc Capital Markets analyst Bradley B. Thomas reiterated an Overweight rating on Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI), raising the price target to $93 from $79. The company reported Q2 FY23 sales growth of 13.7% Y/Y to $514.5 million, beating the consensus of $499.0 million. The analyst believes OLLI will continue to benefit from the robust closeout environment, a recovery in margins, its remodel program, and new store growth.

Portfolio Pulse from Nabaparna Bhattacharya

September 01, 2023 | 6:55 pm

ADTX

DELL

NVOS

OLN

PD

TAOP

U.S. stocks traded mixed with the Dow Jones gaining around 50 points. Energy shares jumped by 1.9%. The U.S. economy added 187,000 jobs in August. Taoping Inc. (TAOP), Dell Technologies Inc. (DELL), and Novo Integrated Sciences, Inc. (NVOS) shares went up after positive earnings reports and announcements. Aditxt, Inc. (ADTX), PagerDuty, Inc. (PD), and Olin Corporation (OLN) shares fell due to various reasons including weak earnings forecast and leadership changes.

Portfolio Pulse from Lisa Levin

September 01, 2023 | 6:37 pm

VEEV

Veeva Systems' shares are trading higher following a Q2 earnings beat and guidance above estimates. Several analysts have raised their price targets on the stock.

Portfolio Pulse from Benzinga Newsdesk

September 01, 2023 | 6:34 pm

VMW

VMware reported mixed Q2 financial results, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

September 01, 2023 | 6:30 pm

DG

Raymond James analyst Bobby Griffin has downgraded Dollar General Corp (NYSE:DG) from Strong Buy to Outperform and lowered the price target from $200 to $160. The downgrade reflects a lower near-term earnings outlook due to margin pressure and consumer weakness. Dollar General reported Q2 FY23 sales growth of 3.9% to $9.80 billion, missing the analyst consensus. The company also lowered its FY23 EPS outlook to $7.10 - $8.30 and sales growth to 1.3% - 3.3%. Despite the downgrade, the analyst believes that Dollar General is not a permanently broken business.

Portfolio Pulse from Shivani Kumaresan

September 01, 2023 | 6:24 pm

SIG

Telsey Advisory Group analyst Dana Telsey has reiterated the Market Perform rating on Signet Jewelers Limited (NYSE:SIG), raising the price target to $82 from $71. Telsey expects engagement sales to start recovering towards the end of FY24. Despite a Q2 sales decline of 8.1% YoY, SIG beat the analyst consensus with $1.61 billion. The company continues to see FY24 sales of $7.10 billion - $7.30 billion. However, Telsey sees a more conservative back half outlook due to macro challenges and a volatile consumer spending environment.

Portfolio Pulse from Nabaparna Bhattacharya

September 01, 2023 | 6:23 pm

ELV

SPY

XLV

Elevance Health's stock price has stagnated in 2023 despite strong earnings growth, expected future growth, and an attractive forward Price/Earnings ratio. The stock is trading nearly 20% below its 52-week high, creating an attractive buy point. The company has grown earnings per share by 10.3% per year over the last five years and is expected to grow EPS by 12.7% per year over the next five years. It also has a forward P/E of 11.9 and a 1.3% dividend, which has been increasing by an average of 14.7% per year over the last 10 years.

Portfolio Pulse from Cory Mitchell

September 01, 2023 | 6:06 pm