Streetbeat News

Earnings

PTON

Peloton Interactive Inc's Q4 FY23 results show a 5% YoY sales decline to $642.1 million, beating the consensus of $639.9 million. However, EPS loss was $(0.68), missing the consensus loss of $(0.38). The total number of members fell 5% YoY to 6.5 million. The company's CEO, Barry McCarthy, attributed the slowdown to a shift in consumer spending towards travel and experiences, and product recalls. Peloton's shares are down by 28.60% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

August 23, 2023 | 1:14 pm

INDI

MARA

MAXN

OSS

RIOT

The article lists five tech stocks that are currently oversold and may present a buying opportunity. These include Marathon Digital Holdings, Riot Platforms, indie Semiconductor, Maxeon Solar Technologies, and One Stop Systems. The companies have reported mixed Q2 results, with some missing revenue estimates and others exceeding them.

Portfolio Pulse from Lisa Levin

August 23, 2023 | 1:12 pm

GRAB

Grab Holdings Limited (NASDAQ:GRAB) reported Q2 FY23 revenue growth of 77% YoY to $567.0 million, beating the consensus of $546.1 million. The company's Deliveries and Mobility segments drove the growth, with revenues rising 118% and 29% YoY respectively. The company reiterated its FY23 revenue outlook of $2.20 billion - $2.30 billion, up by 54% - 60% YoY. GRAB shares traded higher by 4.19% premarket.

Portfolio Pulse from Anusuya Lahiri

August 23, 2023 | 1:11 pm

WSM

Williams-Sonoma's Q2 comparable brand revenue has declined by 11.9%, with a 2-year comp of -0.6% and a 4-year comp of +39.7%.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 1:08 pm

WSM

Williams-Sonoma has revised its FY23 guidance, expecting a revenue decline of 5%-10% versus its prior guidance of -3% to +3%. The company also anticipates an operating margin of 15%-16%. Despite this, it still expects mid-to-high single-digit annual net revenue growth with an operating margin above 15% in the long term.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 1:07 pm

ANF

FL

PTON

In Wednesday's pre-market session, several consumer discretionary stocks showed significant movement. Abercrombie & Fitch, ATRenew, Zapp Electric Vehicles, BurgerFi International, Williams-Sonoma, and Allbirds saw gains, while Foot Locker, Peloton Interactive, Esports Entertainment, EBET, Mullen Automotive, and BTC Digital experienced losses. Most companies released their Q2 earnings reports.

Portfolio Pulse from Benzinga Insights

August 23, 2023 | 1:06 pm

WSM

Williams-Sonoma reported Q2 earnings of $3.12 per share, beating the analyst consensus estimate of $2.71 by 15.13%. However, the company's quarterly sales of $1.86 billion missed the analyst consensus estimate of $1.96 billion by 4.97%. This represents a 19.38% decrease in earnings and a 12.88% decrease in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 1:01 pm

FL

SKX

Skechers USA Inc (NYSE:SKX) shares are trading lower by 4.53% due to a revenue miss and lowered guidance by Foot Locker Inc, a major distributor of Skechers' products. Foot Locker's performance may reflect the overall health of the athletic footwear retail market, potentially indicating weaker consumer demand. Foot Locker's stock is slumping more than 30% following its Q2 results and lowered 2023 sales and earnings guidance.

Portfolio Pulse from Henry Khederian

August 23, 2023 | 1:01 pm

FL

NKE

Nike Inc's shares are trading lower in sympathy with Foot Locker Inc, which reported a Q2 revenue miss and lowered its guidance. This suggests weaker consumer demand for athletic footwear and apparel, potentially leading to decreased sales and revenue for Nike. Foot Locker's stock is slumping more than 30% following its Q2 results and lowered 2023 sales and earnings guidance.

Portfolio Pulse from Henry Khederian

August 23, 2023 | 1:00 pm

NEE

SYK

ZBH

On CNBC's 'Halftime Report Final Trades', Josh Brown of Ritholtz Wealth Management recommended NextEra Energy, Inc. (NEE) which reported Q2 revenue of $7.35 billion, beating estimates. Jason Snipe of Odyssey Capital Advisors recommended Stryker Corporation (SYK) which reported Q2 sales of $5 billion, up 11.2% Y/Y. Stephanie Link of Hightower picked Zimmer Biomet Holdings, Inc. (ZBH), which is down almost 18% in the past month and announced leadership changes.

Portfolio Pulse from Lisa Levin

August 23, 2023 | 12:56 pm