Streetbeat News

Earnings

ASO

GNS

In Thursday's pre-market session, several consumer discretionary stocks saw significant movement. Genius Gr (GNS), Academy Sports (ASO), Singing Machine Co (MICS), Foresight Autonomous (FRSX), Color Star Tech (ADD), and Genesco (GCO) all saw increases, with ASO and GCO's Q2 earnings reports being released. Conversely, Lands' End (LE), Duluth Holdings (DLTH), Digital Brands Group (DBGI), LiveWire Gr (LVWR), Greenlane Hldgs (GNLN), and Hall Of Fame Resort (HOFV) all saw decreases, with LE and DLTH's Q2 earnings reports being released.

Portfolio Pulse from Benzinga Insights

August 31, 2023 | 1:06 pm

MVST

TITN

WATT

During Thursday's pre-market session, several industrials stocks saw significant movement. Microvast Holdings, 1847 Holdings, EHang Holdings, Momentus, Capstone Green Energy, and Titan Machinery saw gains, with Titan's Q2 earnings report being released. Energous, Quhuo, Greenland Technologies, GD Culture Group, iSun, and Addentax Group saw losses, with Quhuo's H1 earnings report being released.

Portfolio Pulse from Benzinga Insights

August 31, 2023 | 1:06 pm

AGIL

IFBD

MTBL

SATX

TIO

In Thursday's pre-market session, several information technology stocks showed significant movement. SatixFy Communications, Infobird Co, Tingo Group, SMX, Okta, and Ciena saw gains, with SatixFy Communications leading with a 49.6% increase. On the other hand, AgileThought, Moatable, NOVONIX, Datasea, Alarum Technologies, and Glimpse Group experienced losses, with AgileThought leading the decline at 23.9%.

Portfolio Pulse from Benzinga Insights

August 31, 2023 | 1:06 pm

CHWY

Chewy Inc's shares are trading lower after the company reported Q2 financial results that beat estimates. However, multiple analysts cut price targets on the stock. The company's Q2 revenue was $2.78 billion, beating estimates of $2.76 billion, and Q2 EPS was 15 cents, beating estimates for a loss of 5 cents. Despite the positive results, analysts from Barclays, Evercore ISI Group, Needham, and Oppenheimer lowered their price targets.

Portfolio Pulse from Adam Eckert

August 31, 2023 | 1:03 pm

BEKE

KE Holdings Inc (BEKE) shares rose by 6.39% in pre-market trading after the company reported Q2 earnings, upsized its share repurchase program, and declared a special dividend. The company's Q2 adjusted earnings per share of 27 cents beat the analyst consensus estimate of 19 cents. However, its Q2 sales of $2.69 billion missed the analyst consensus estimate of $2.73 billion by 1.6%. The company's board extended the share repurchase program from $1 billion to $2 billion and approved a special cash dividend of $0.057 per ordinary share and $0.171 per ADS.

Portfolio Pulse from Henry Khederian

August 31, 2023 | 1:02 pm

BEKE

KE Holdings reported its quarterly earnings, upsized its existing share repurchase program, and declared a special dividend. This news led to an increase in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 1:02 pm

CRWD

CrowdStrike Holdings Inc (NYSE:CRWD) reported better-than-expected Q2 results and raised its guidance, leading to a rise in its stock price. The company's Q2 revenue increased 37% YoY to $731.63 million, beating estimates of $724.13 million. It also reported earnings of 74 cents per share, surpassing estimates of 56 cents per share. Multiple analysts raised or maintained price targets well above current levels following the results. The company expects Q3 revenue between $775.4 million and $778 million, and full-year 2024 revenue between $3.03 billion and $3.04 billion.

Portfolio Pulse from Adam Eckert

August 31, 2023 | 1:01 pm

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