Streetbeat News

Earnings

CNM

Core & Main reported a Q2 miss and narrowed its FY23 guidance, leading to a decrease in its share prices.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2023 | 5:12 pm

ZS

Zscaler Inc (NASDAQ:ZS) reported better-than-expected fiscal Q4 results with a 43% YoY increase in revenue to $455.01 million, beating the consensus estimate of $430.42 million. The company also reported quarterly earnings of 64 cents per share, surpassing analyst estimates of 49 cents per share. Following the announcement, several analysts increased their price targets on Zscaler. Despite the positive results, Zscaler shares fell 3.8% to trade at $156.54 on Wednesday.

Portfolio Pulse from Lisa Levin

September 06, 2023 | 4:50 pm

ASAN

Asana Inc's (ASAN) stock plummeted after Q2 earnings release. Analysts from Piper Sandler, Oppenheimer, JMP Securities, RBC Capital Markets, and KeyBanc Capital Markets provided mixed reviews. While some praised Asana's cost containment efforts and potential for growth, others pointed out the company's decelerating revenue growth and weak leading indicators. Asana's shares declined by 12.94% to $18.84.

Portfolio Pulse from Priya Nigam

September 06, 2023 | 4:47 pm

CE

KeyBanc Capital Markets analyst Aleksey Yefremov upgraded Celanese Corp (NYSE:CE) to Overweight from Sector Weight with a price target of $149. The analyst believes the company is well-positioned for global manufacturing economic recovery and organic growth opportunities. The company's debt refinancing has lowered risk-related maturities in 2023-2025 and is expected to generate enough FCF to cover maturities over the next 2+ years. The analyst revised FY23 and FY24 EBITDA and EPS estimates.

Portfolio Pulse from Lekha Gupta

September 06, 2023 | 4:43 pm

BBY

The weekly report discusses various economic indicators including job openings, housing prices, Best Buy's earnings, payroll data, spending trends, and the jobs report. Job openings have declined to just under 9MM, potentially making it easier for the Federal Reserve to pause rate hikes. Housing prices continue to rise, hitting all-time highs. Best Buy beat earnings expectations but lowered guidance, with comparable store sales down 6.2%. Payroll data showed 177,000 jobs added in August, below expectations. Consumer spending continues to increase, and the jobs report showed 187,000 jobs added in August, above expectations.

Portfolio Pulse from Gary Brode

September 06, 2023 | 4:31 pm

AKTS

Akoustis Technologies reported worse-than-expected Q4 results, leading to a drop in its share price.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2023 | 4:22 pm

LUV

NBSE

Symetryx Corporation has acquired a 20% stake in NeuBase Therapeutics and urged the board to issue a special $1 per share dividend. Meanwhile, Southwest Airlines expects Q3 operating revenue per available seat mile to be down 5%-7% year over year, compared to prior guidance of down 3%-7%. The company also sees Q3 available seat miles up about 12%, unchanged from previous guidance.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2023 | 4:17 pm

GTLB

GitLab Inc (NASDAQ:GTLB) shares climbed after reporting its Q2 results. Analysts from Truist Securities, RBC Capital Markets, William Blair, and Needham provided positive reviews, with Truist and RBC raising their price targets. GitLab reported strong quarterly results and raised its full-year guidance. However, seat contraction could remain a headwind for the next 1-2 quarters.

Portfolio Pulse from Priya Nigam

September 06, 2023 | 4:12 pm

ZS

Zscaler Inc (NASDAQ:ZS) reported impressive FQ4 results, surpassing the $2B+ ARR milestone and achieving record operating margins of 18.9%. Analysts from Canaccord Genuity, Needham, Oppenheimer, Truist Securities, and JMP Securities have maintained or reiterated positive ratings, with price targets ranging from $175 to $225. Despite the positive news, Zscaler's shares declined by 0.31% to $162.23.

Portfolio Pulse from Priya Nigam

September 06, 2023 | 4:00 pm

LMNR

Limoneira (NASDAQ:LMNR) is set to release its latest quarterly earnings report on September 7, 2023. Analysts estimate an earnings per share (EPS) of $0.15. The company's past performance shows a pattern of share price changes following earnings reports. Shares of Limoneira were trading at $15.05 as of September 5, with a 25.33% increase over the last 52-week period.

Portfolio Pulse from Benzinga Insights

September 06, 2023 | 4:00 pm