Streetbeat News

Earnings

NIO

Nio reported worse-than-expected Q2 financial results and issued Q3 guidance, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2023 | 12:31 pm

GSAT

PDD

TIGR

PDD Holdings reported Q2 adjusted EPADS of $1.44, beating the $1.01 estimate, and sales of $7.21B, beating the $6.07B estimate. Globalstar appointed Dr. Paul Jacobs as CEO and announced an agreement to license XCOM Labs technology. UP Fintech Holding reported Q2 adjusted EPADS of $0.10, beating the $0.04 estimate, and sales of $66.05M, beating the $44.65M estimate.

Portfolio Pulse from ryanfaloona@benzinga.com

August 29, 2023 | 12:30 pm

SCVL

Shoe Carnival, Inc. (NASDAQ:SCVL) reported Q2 sales of $294.62 million, down 5.7% YoY but beating consensus estimates. However, its EPS of $0.71 missed the analyst consensus of $0.84. The company cited soft traffic results in lower-income households and urban markets as a reason for the decline. It also reduced its 2023 net sales outlook and EPS guidance. Despite this, the company plans to add 6 to 10 new stores in FY23 and aims to surpass 500 stores by 2028.

Portfolio Pulse from Nabaparna Bhattacharya

August 29, 2023 | 12:23 pm

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

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