Streetbeat News

Earnings

BYDDY

GELYF

TSLA

VWAGY

Tesla's market share increased from 16% to 20% in Q2 2023, the biggest expansion among the top seven companies, despite fears of margin pressure due to aggressive price cuts. The company's EV sales rose 83% YoY, outpacing the 50% overall global battery EV sales. However, Tesla's growth trailed the 96% growth of BYD and 111% growth of Geely. Tesla's stock edged up 0.18% in premarket trading.

Portfolio Pulse from Shanthi Rexaline

August 31, 2023 | 12:46 pm

SIG

Signet Jewelers Ltd (NYSE:SIG) reported a Q2 FY24 sales decline of 8.1% YoY to $1.61 billion, beating the analyst consensus of $1.58 billion. The company's Board declared a quarterly cash dividend of $0.23 per share. Signet expects Q3 sales of $1.36 billion - $1.41 billion, versus the consensus of $1.4 billion. The company raised its FY24 adjusted EPS outlook from $9.49 - $10.09 to $9.55 - $10.14, against the Street view of $9.42. SIG shares are trading higher by 1.60% at $72.60 in premarket.

Portfolio Pulse from Shivani Kumaresan

August 31, 2023 | 12:40 pm

CHWY

CRM

OKTA

Salesforce and Okta shares are trading higher after both companies reported better-than-expected Q2 financial results and issued Q3 and FY24 adjusted EPS and revenue guidance above estimates. Chewy shares are trading lower after the company reported Q2 financial results.

Portfolio Pulse from ryanfaloona@benzinga.com

August 31, 2023 | 12:37 pm

ELAN

GOOGL

RIG

On CNBC's 'Halftime Report Final Trades', Joshua Brown of Ritholtz Wealth Management named Alphabet Inc. as his final trade, ahead of the company's annual Pixel hardware event. Jim Lebenthal of Cerity Partners named Transocean Ltd., which recently received a binding Notification of Award for work offshore India. Stephanie Link of Hightower mentioned Elanco Animal Health Incorporated, which reported strong quarterly earnings and raised its 2023 financial guidance.

Portfolio Pulse from Lisa Levin

August 31, 2023 | 12:35 pm

CRM

Salesforce Inc (NYSE:CRM) shares are trading higher after the company reported better-than-expected Q2 results and issued strong guidance. Q2 revenue increased 11% YoY to $8.6 billion, beating the consensus estimate of $8.52 billion. The company also reported quarterly earnings of $2.12 per share, beating analyst estimates of $1.90 per share. Several analysts maintained positive ratings and lifted price targets on the stock. Salesforce also announced a collaboration with IBM to accelerate AI adoption.

Portfolio Pulse from Adam Eckert

August 31, 2023 | 12:35 pm

CHWY

Chewy's shares are trading lower following the release of the company's Q2 financial results.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 12:34 pm

FIVE

Five Below has issued Q3 EPS, Q3 revenue and FY23 EPS guidance below estimates, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 12:33 pm

OKTA

Okta reported better-than-expected Q2 financial results and issued Q3 adjusted EPS and total revenue guidance above estimates. The company also raised FY24 adjusted EPS and total revenue guidance above estimates, leading to a rise in its share price.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 12:33 pm

CRM

Salesforce reported better-than-expected Q2 financial results and issued Q3 and FY24 adjusted EPS and revenue guidance above estimates. This has led to a rise in the company's share prices.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 12:32 pm

HPQ

HP Inc. reported in-line earnings for Q3 but lowered its full-year forecast. The company's Q3 earnings beat analyst estimates, but represented a decrease from the same period last year. Several analysts lowered their price targets on HP's stock following the earnings release. The article also discusses how investors can earn from HP's dividends, which currently offer an annual yield of 3.35%.

Portfolio Pulse from Lisa Levin

August 31, 2023 | 12:29 pm