Streetbeat News

Earnings

MRVL

NVDA

Marvell Technology, Inc. (NASDAQ:MRVL) shares dropped as the semiconductor sector pulled back after gains in sympathy with NVIDIA Corporation (NASDAQ:NVDA), which reported strong earnings and upbeat guidance. NVIDIA beat analyst consensus estimates with quarterly earnings of $2.70 per share and sales of $13.51 billion. Marvell is set to report second-quarter earnings after the market close Thursday, with expected earnings of 32 cents per share and revenue of $1.33 billion.

Portfolio Pulse from Ryan Gustafson

August 24, 2023 | 7:05 pm

GHRS

GH Research PLC (NASDAQ:GHRS) reported its Q2 2023 financial results, revealing a cash and cash equivalents of $96.9 million, down from $166 million in Dec 2022. However, the company's total liquidity, including other financial assets and marketable securities, stands at $238.1 million, which it believes will cover operating expenses and capital expenditure requirements until 2026. The company reported a quarterly net loss of $7.7 million, compared to a net profit of $334,000 in the same quarter in 2022. GH Research is developing novel 5-MeO-DMT therapies for Treatment-Resistant Depression (TRD) and is currently conducting several clinical trials.

Portfolio Pulse from Lara Goldstein

August 24, 2023 | 7:03 pm

NVDA

Tech and AI stocks are trading lower as the sector pulls back after surging ahead of NVIDIA's Wednesday earnings reports.

Portfolio Pulse from Benzinga Newsdesk

August 24, 2023 | 6:43 pm

FUV

Arcimoto reported Q2 losses of $1.71 per share, a 338.46% decrease YoY. However, the company's sales increased by 17.41% to $1.76 million compared to the same period last year.

Portfolio Pulse from Happy Mohamed

August 24, 2023 | 6:41 pm

FUV

Arcimoto reported Q2 losses of $1.71 per share, a 338.46% increase from the same period last year when losses were $0.39 per share.

Portfolio Pulse from Happy Mohamed

August 24, 2023 | 6:40 pm

ENPH

Enphase Energy, Inc. (NASDAQ:ENPH) shares are trading lower, following a rough month for solar-related stocks. The drop is attributed to weak third-quarter revenue guidance from both Enphase and SolarEdge, and poor preliminary second-quarter results from Sunpower. Keybanc analyst Sophie Karp maintained Enphase Energy with an Overweight but lowered the price target from $267 to $200.

Portfolio Pulse from Ryan Gustafson

August 24, 2023 | 6:34 pm

A significant bearish stance has been taken on Dollar General (NYSE:DG) as indicated by unusual options activity. The overall sentiment of these big-money traders is split between 39% bullish and 60% bearish. The price of DG is down -3.19% at $153.46, and RSI indicators suggest that the stock may be oversold. Next earnings are expected to be released in 7 days.

Portfolio Pulse from Benzinga Insights

August 24, 2023 | 6:33 pm

NVDA

PLTR

Shares of Palantir Technologies Inc (NYSE:PLTR) are trading lower by approximately 6.37% amid broader tech sector weakness. The company's shares initially traded higher in sympathy with NVIDIA, which reported strong Q2 financial results and Q3 guidance. Palantir, known for its AI-driven data analytics platforms, could potentially benefit from NVIDIA's robust AI performance. NVIDIA's success might indicate improved data analytics capabilities, leading to increased demand for Palantir's platforms and services.

Portfolio Pulse from Henry Khederian

August 24, 2023 | 6:31 pm

NVDA

NVDS

Nvidia Corporation (NASDAQ:NVDA) opened about 6.6% higher on Thursday after announcing better-than-expected Q2 earnings and a $25 billion share buyback. However, the stock is expected to pull back over the next few days as it needs to print a higher low and its relative strength index (RSI) is nearing the 70% mark. The AXS 1.25x NVDA Bear Daily ETF (NASDAQ:NVDS), which tracks 125% of the opposite daily performance of NVDA, offers a way to play Nvidia bearishly.

Portfolio Pulse from Melanie Schaffer

August 24, 2023 | 6:23 pm

BLZE

DLTR

GES

OIG

SCTL

TDCX

WOOF

US stocks traded lower with the Dow Jones falling around 250 points. Dollar Tree Inc reported better-than-expected earnings and sales results for its second quarter, raising its sales guidance for FY23. TDCX Inc, Guess?, Inc, and Backblaze, Inc shares rose following positive earnings reports and raised outlooks. Orbital Infrastructure Group, Inc, Societal CDMO, Inc, and Petco Health and Wellness Company, Inc shares fell due to bankruptcy filing, pricing of public offering, and disappointing Q2 results respectively.

Portfolio Pulse from Lisa Levin

August 24, 2023 | 6:21 pm