Streetbeat News

Earnings

UBS

Credit Suisse, a subsidiary of UBS, Inc. (NYSE:UBS), reported a Q2 loss of $4 billion, in line with its April forecast. The loss is attributed to its exit from non-core businesses, restructuring, and financing costs. UBS had previously announced a deal to take over Credit Suisse for 3 billion Swiss francs ($3.25 billion) after the latter suffered from rapid client withdrawal of funds and a spike in its credit default swaps.

Portfolio Pulse from Shanthi Rexaline

August 27, 2023 | 3:58 pm

ANF

ATZAF

Abercrombie & Fitch Co (NYSE:ANF) has seen its stock rise more than 100% this year following a successful rebranding under the leadership of Fran Horowitz. The company has moved away from its previous marketing strategies, which were criticized for discrimination and exclusivity, and now offers more stylish, inclusive clothing. The company's recent earnings report exceeded EPS expectations and raised guidance due to strong growth and demand.

Portfolio Pulse from Aaron Bry

August 26, 2023 | 3:41 pm

IDEX

Ideanomics reported Q2 losses of $(3.19) per share, a 3887.5% decrease YoY. The company's sales also decreased by 76.07% to $8.18 million compared to $34.20 million in the same period last year.

Portfolio Pulse from Happy Mohamed

August 25, 2023 | 8:24 pm

WLDS

Wearable Devices (NASDAQ:WLDS) reported a 44.44% increase in quarterly losses, from $(0.18) per share last year to $(0.26) per share this year. Sales also decreased by 57.14%, from $28.00K to $12.00K YoY.

Portfolio Pulse from Happy Mohamed

August 25, 2023 | 8:09 pm

EBON

Ebang Intl Hldgs (NASDAQ:EBON) reported H1 EPS of $(1.25), up 16.67% from $(1.50) YoY. However, sales were down 83.68% to $4.09M from $25.06M YoY.

Portfolio Pulse from Happy Mohamed

August 25, 2023 | 8:07 pm

CAL

Telsey Advisory Group analyst Dana Telsey has reiterated the Less Risk rating on Caleres, Inc. (NYSE:CAL) with a price target of $30. The analyst notes that CAL is driving $20 million in cost savings this year and remains focused on debt reduction. CAL is expected to report 2Q23 results on August 31, with an EPS forecast of $0.90 vs. $1.38 last year. Telsey forecasts a sales decline of 4.5% Y/Y to $706 million. The analyst expects Famous Footwear to decline 6.5% Y/Y, along with a 1.5% Y/Y contraction in the branded portfolio.

Portfolio Pulse from Nabaparna Bhattacharya

August 25, 2023 | 7:51 pm

INTU

Intuit Inc's shares are trading higher after several analysts raised their price targets following Q4 results that beat consensus estimates. The company reported Q4 EPS of $1.65, beating the estimate of $1.43, and sales of $2.71 billion, beating the estimate of $2.64 billion. The company also provided FY24 revenue estimates of $15.89 billion-$16.105 billion, higher than the $15.99 billion estimate. Several firms including Oppenheimer, Evercore ISI Group, Credit Suisse, KeyBanc, Piper Sandler, B of A Securities, Stifel, Deutsche Bank, and Goldman Sachs raised their price targets for INTU.

Portfolio Pulse from Lekha Gupta

August 25, 2023 | 7:50 pm

HTHT

H World Group has announced its interim Q2 results, which has led to a decrease in the company's share prices.

Portfolio Pulse from Benzinga Newsdesk

August 25, 2023 | 7:13 pm

LULU

Telsey Advisory Group analyst Dana Telsey reiterated an Outperform rating on Lululemon Athletica Inc. (NASDAQ:LULU) with a price target of $430. The analyst is optimistic about LULU's Q2 2023 results, expecting a Q2 total sales growth of 16.1% Y/Y to $2.170 billion, and an EPS of $2.52. LULU is also expected to open nine new stores in Q2, with a total of 50 new stores in 2023.

Portfolio Pulse from Nabaparna Bhattacharya

August 25, 2023 | 7:07 pm

ADSK

NVDA

Autodesk Inc (NASDAQ:ADSK) reported a revenue and profit beat in its fiscal second quarter, with revenue rising 9% YoY to $1.35 billion. The company also issued a better-than-expected guidance for the third quarter and full fiscal year 2024. Autodesk's strong performance is attributed to healthy product demand and the company's resilience, discipline, and action upon new opportunities.

Portfolio Pulse from Upwallstreet

August 25, 2023 | 7:00 pm