Streetbeat News

Earnings

ACER

CGC

DG

DLTH

EFSH

LE

US stocks traded higher with the Nasdaq Composite gaining around 50 points. Consumer discretionary shares jumped by 0.7%. Acer Therapeutics Inc. (ACER) shares shot up 164% after Zevra Therapeutics announced it will acquire the company. 1847 Holdings LLC (EFSH) shares got a boost, shooting 44% after successful restructuring of promissory notes. Canopy Growth Corporation (CGC) shares were up, gaining 27% after the HHS called for moving marijuana to a lower-risk drug category. Lands' End, Inc. (LE) shares dropped 24% after reporting worse-than-expected Q2 results. Dollar General Corporation (DG) shares were down 14% after reporting Q2 FY23 sales growth of 3.9% YoY, missing the analyst consensus. Duluth Holdings Inc. (DLTH) shares fell 13% after reporting a YoY decrease in Q2 EPS results.

Portfolio Pulse from Lisa Levin

August 31, 2023 | 4:02 pm

OLLI

Ollie's Bargain Outlet reported better-than-expected Q2 financial results and raised its FY23 adjusted EPS and sales guidance above estimates. This has led to a rise in the company's share prices.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 3:24 pm

FLWS

1-800-FLOWERS.COM, Inc. (NASDAQ:FLWS) reported Q4 revenues of $398.81 million, missing the consensus of $413.31 million, a 17.9% Y/Y slump. However, the company beat the consensus with an adjusted EPS of $(0.28) per share. The company's gross profit margin increased to 37.1% due to lower ocean freight costs and strategic pricing initiatives. The company expects FY24 total revenues to decline in the mid-single digits compared to the prior year, but rebound during the holiday period.

Portfolio Pulse from Nabaparna Bhattacharya

August 31, 2023 | 3:22 pm

CRM

Salesforce Inc (NYSE:CRM) reported better-than-expected Q2 results and issued strong guidance, causing its shares to spike. Analysts from BMO Capital Markets, Stifel, Needham, RBC Capital Markets, and William Blair all maintained positive ratings, with several raising their price targets. Key factors contributing to the strong performance include revenue upside, healthy margin performance, and continued margin expansion. The company's growth is expected to be aided by AI solutions and pricing in the coming years.

Portfolio Pulse from Priya Nigam

August 31, 2023 | 3:21 pm

ASO

Academy Sports and Outdoors (ASO) reported better-than-expected Q2 financial results and raised its FY23 adjusted EPS guidance above estimates, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 3:16 pm

SBRA

Sabra Health Care REIT (NASDAQ:SBRA) is set to deliver a dividend payout of $0.30 per share today, equating to an annualized dividend yield of 9.39%. However, the company has seen a reduction in its dividend per share from $1.80 to $1.20 from 2019 to 2022, and a decrease in earnings per share from $2.21 in 2019 to $1.52 in 2022. This could signify a challenging financial situation for the company.

Portfolio Pulse from Benzinga Insights

August 31, 2023 | 3:05 pm

BFST

WASH

Business First Bancshares (NASDAQ:BFST) will distribute a dividend payout of $0.12 per share, with an annualized dividend yield of 2.85%. The company has shown a positive trend in both dividend per share and earnings per share from 2019 to 2022. Washington Trust Bancorp (NASDAQ:WASH) has the highest annualized dividend yield at 7.98% among its industry peers.

Portfolio Pulse from Benzinga Insights

August 31, 2023 | 3:05 pm

JILL

J. Jill, Inc. reported a Q2 2023 sales decline of 2.9% YoY to $155.7 million, missing the consensus of $152.4 million. Total company comparable sales decreased by 1.3% and direct-to-consumer net sales were down 5.1%. Adjusted EPS was $1.10, beating the consensus of 80 cents. The company expects Q3 revenues to be down in the low single digits YoY, with an adjusted EBITDA of $23 million-$25 million. Despite the sales decline, JILL shares are trading higher by 4.74% to $24.52.

Portfolio Pulse from Akanksha Bakshi

August 31, 2023 | 3:04 pm

DLTH

Duluth Holdings Inc. (NASDAQ:DLTH) reported a Q2 FY23 sales decline of 1.7% YoY to $139.10 million, beating the consensus of $138.41 million. However, the EPS loss of $(0.06) missed the analyst consensus of breakeven $(0.00). Retail store net sales decreased by 7% due to slower store traffic. The company's CFO, Dave Loretta, will step down effective September 15. Duluth reaffirmed its FY23 revenue outlook of $645 million-$660 million. DLTH shares are trading lower by 13% at $6.39.

Portfolio Pulse from Nabaparna Bhattacharya

August 31, 2023 | 3:03 pm

OKTA

Okta Inc's shares are trading higher after the company reported better-than-expected Q2 financial results and raised its guidance. The Q2 revenue of $556 million and EPS of 31 cents both beat estimates. The company also raised its full-year revenue forecast and adjusted earnings guidance. Multiple analysts have lifted their price targets for Okta following these results.

Portfolio Pulse from Adam Eckert

August 31, 2023 | 2:58 pm