Streetbeat News

Earnings

VBNK

VersaBank (NASDAQ:VBNK) reported Q3 earnings of $0.28 per share, missing the analyst consensus estimate of $0.31 by 9.68%. The company also reported quarterly sales of $19.99 million, missing the analyst consensus estimate of $21.53 million by 7.13%. However, both earnings and sales have increased compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2023 | 11:04 am

PDCO

Patterson Companies has reaffirmed its FY24 adjusted EPS guidance of $2.45-$2.55, which is in line with the consensus estimate of $2.50.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2023 | 11:04 am

REX

REX American Resources reported Q2 earnings of $0.52 per share, missing the analyst consensus estimate of $0.66 by 21.21%. This is a 17.46% decrease from the same period last year. However, the company's quarterly sales of $211.98 million beat the analyst consensus estimate of $195.14 million by 8.63%, despite being an 11.80% decrease from last year.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2023 | 11:02 am

PDCO

Patterson Cos reported Q1 adjusted earnings of $0.40 per share, in line with analyst estimates, marking a 25% YoY increase. However, the company's quarterly sales of $1.576 billion missed the consensus estimate of $1.58 billion by 0.25%, despite a 3.48% YoY increase.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2023 | 11:01 am

HPQ

QQQ

SPY

The US stock rally may cool off as focus shifts to Q2 GDP and private jobs data. The tech sector could face selling pressure due to earnings-related sell-offs from companies like HP, Inc. The market is also awaiting ADP's private payrolls report and preliminary Q2 GDP data. The Nasdaq Composite and the S&P 500 indices ended at their highest levels since early August. In premarket trading, the SPDR S&P 500 ETF Trust and the Invesco QQQ ETF fell slightly. Stocks in focus include HP, Box, Inc., Ambarella, Inc., Brown-Forman Corporation, and Patterson Companies, Inc.

Portfolio Pulse from Shanthi Rexaline

August 30, 2023 | 10:57 am

UTSI

UTStarcom Holdings (NASDAQ:UTSI) reported a 15.79% increase in quarterly losses to $(0.22) per share, compared to $(0.19) per share last year. Sales also decreased by 13.05% to $6.51 million from $7.49 million in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2023 | 10:50 am

TM

Toyota Motor Corp (NYSE:TM) reported a 10% increase in global production to 918,347 vehicles in July, including subsidiaries Daihatsu Motor Co and Hino Motors Ltd. Global and overseas production reached record highs due to improved production capacity and solid demand. Worldwide sales grew 5.2% to 918,345 units. The automaker cited recovery from semiconductor shortages and COVID-19 impacts as reasons for the increase. However, Toyota paused production in all its Japanese plants due to a system malfunction.

Portfolio Pulse from Shivani Kumaresan

August 30, 2023 | 10:49 am

HPQ

HP has issued its FY23 adjusted EPS guidance below estimates, leading to a decrease in its share price.

Portfolio Pulse from Bill Haddad

August 30, 2023 | 10:43 am

JNJ

Johnson & Johnson has revised its 2023 adjusted EPS guidance to $10.00-$10.10, down from the previous guidance of $10.70-$10.80. The consensus was $10.65. The company also adjusted its operational EPS to $9.90 - $10.00, down from the prior guidance of $10.60-$10.70.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2023 | 10:40 am

JNJ

Johnson & Johnson has updated its financials and FY23 guidance following the separation from Kenvue. The company now expects 2023 reported sales growth of 7%-8%, up from the previous range of 6.5%-7.5%. Operational growth is projected at 7.5%-8.5%, and adjusted operational growth at 6.2%-7.2%.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2023 | 10:37 am