Streetbeat News

Earnings

BBY

Best Buy's CEO has announced signs of stabilization in the company's home theater business, with TV sales trends improving in Q2 and units returning to growth.

Portfolio Pulse from Happy Mohamed

August 29, 2023 | 12:23 pm

AGIL

DRTS

TIVC

Several stocks are experiencing significant pre-market movements. Tivic Health Systems (TIVC) rose 62.4% after announcing a partnership with AmerisourceBergen. Shineco (SISI), noco-noco (NCNC), Caravelle International Group (CACO), and iCoreConnect (ICCT) also saw gains. Bright Scholar Education (BEDU) rose 14.7% following its recent financial results announcement. Alpha Tau Medical (DRTS) surged 8.3% after reporting Q2 results. On the losing side, Orgenesis (ORGS), Vahanna Tech Edge Acquisition (VHNA), AgileThought (AGIL), Genius Group (GNS), and BIT Mining (BTCM) fell in pre-market trading.

Portfolio Pulse from Lisa Levin

August 29, 2023 | 12:20 pm

AZN

CTLT

DHR

JNJ

MRNA

NVO

Catalent Inc has finalized a deal with Elliott Investment Management, appointing four new independent directors to its board and establishing a Strategic and Operational Review Committee. The company reported Q4 adjusted EPS of $0.09, missing the consensus of $0.10, with sales of $1.07 billion, down 17% Y/Y. Catalent forecasts FY24 sales of $4.30 billion-$4.50 billion. The company has faced acquisition interest from multiple entities and has been navigating through multiple challenges recently.

Portfolio Pulse from Vandana Singh

August 29, 2023 | 12:17 pm

NSSC

NAPCO Security Techs (NASDAQ:NSSC) reported Q4 earnings of $0.28 per share, beating the analyst consensus estimate of $0.27 by 3.7%. However, the company's quarterly sales of $44.66 million missed the analyst consensus estimate of $45.82 million by 2.54%.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2023 | 12:03 pm

SVRE

Saverone 2014 (NASDAQ:SVRE) reported a significant increase in sales this quarter, reaching $399.00 thousand compared to $103.00 thousand in the prior year. However, the company also reported a net loss of $4.8 million, which is higher than the $3.2 million loss reported for the first half of 2022.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2023 | 11:34 am

REE

REE Automotive reported Q2 adjusted losses of $(0.07) per share, which met the analyst consensus estimate. This is unchanged from the same period last year. The company reported $943.00 thousand in sales this quarter.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2023 | 11:34 am

BZ

Kanzhun (NASDAQ:BZ) reported Q2 adjusted earnings of $0.17 per share, beating the analyst consensus estimate of $0.12 by 41.67%. This is a 112.5% increase from the same period last year. The company also reported quarterly sales of $205.15 million, beating the analyst consensus estimate of $200.56 million by 2.29%, a 23.53% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2023 | 11:22 am

CTLT

Catalent has projected its FY24 revenue to be between $4.30B and $4.50B, which is higher than the estimated $4.21B. The company also expects its adjusted net income to be between $113M and $175M, and adjusted EBITDA to be between $680M and $760M.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2023 | 11:09 am

BBY

Best Buy's Q2 FY24 report shows a decrease in comparable sales across the board. Enterprise comparable sales dropped by 6.2%, domestic comparable sales by 6.3%, international comparable sales by 5.4%, and domestic comparable online sales by 7.1%. Revenue also decreased from $10,329 million in Q2 FY23 to $9,583 million in Q2 FY24.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2023 | 11:09 am

MBUU

Malibu Boats anticipates a decline in net sales in the mid-to-high teens percentage year-over-year for the full fiscal year 2024. The company also expects its Adjusted EBITDA margin to decrease by 300-400 basis points year-over-year.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2023 | 11:08 am