Streetbeat News

Earnings

SPLK

Shares of Splunk Inc (NASDAQ:SPLK) surged after the company reported better than expected fiscal second-quarter results. Analysts from Mizuho Securities, Wedbush, BMO Capital Markets, and Oppenheimer provided their takeaways from the earnings release. While all analysts maintained their ratings, they raised their price targets citing strong annual recurring revenue (ARR) growth, improved operating margins, and raised F2H margin and FCF guidance. However, cloud revenue/ARR was below expectations.

Portfolio Pulse from Priya Nigam

August 24, 2023 | 5:06 pm

BLNK

Blink Charging Co (NASDAQ:BLNK) has signed a two-year contract with the Tennessee Valley Authority (TVA) to provide EV charging solutions. The agreement includes Level 2 charging equipment and DC Fast Chargers for public and commercial fleet applications. This follows Blink's strong Q2 2023 earnings, with revenues increasing to nearly $33 million. The company has also raised its 2023 revenue target to $110 million-$120 million.

Portfolio Pulse from Shivani Kumaresan

August 24, 2023 | 4:39 pm

PTON

Shares of Peloton Interactive Inc (NASDAQ:PTON) rose in early trading on Thursday, despite mixed to negative reviews from analysts following the company's Q4 earnings release. Analysts from Needham, Telsey Advisory Group, BMO Capital Markets, Goldman Sachs, Oppenheimer, and KeyBanc Capital Markets all expressed concerns about the company's financials, including a shift from lifetime value to customer acquisition costs, negative adjusted EBITDA, soft sales, and a decline in connected fitness subscribers. Despite these concerns, the stock price rose by 1.20% to $5.49 at the time of publication Thursday.

Portfolio Pulse from Priya Nigam

August 24, 2023 | 4:34 pm

SNAP

A significant number of Snap Inc. (SNAP) call options for September 8 with a strike price of $10 were purchased near the ask price. This indicates a bullish sentiment among investors. Snap's earnings report is expected on October 19, after market close.

Portfolio Pulse from Charles Gross

August 24, 2023 | 4:33 pm

NVDA

NVIDIA Corporation's (NASDAQ:NVDA) strong Q2 financial results and surging stock price have significantly increased the wealth of co-founder and CEO Jensen Huang. Huang, who owns around 3.5% of the company, saw his wealth increase by $4.2 billion, reaching a total of $46 billion. NVIDIA shares have risen over 230% year-to-date in 2023, making it the best-performing stock in the S&P 500 Index for the year.

Portfolio Pulse from Chris Katje

August 24, 2023 | 4:24 pm

BLZE

GES

OIG

SCTL

TDCX

WOOF

US stocks turned lower with the Dow Jones falling more than 200 points and NASDAQ falling 1.35%. Initial jobless claims fell by 10,000 to 230,000. TDCX Inc., Guess?, Inc., and Backblaze, Inc. saw their shares rise following positive Q2 earnings and raised revenue outlooks. Orbital Infrastructure Group, Inc., Societal CDMO, Inc., and Petco Health and Wellness Company, Inc. saw their shares drop due to bankruptcy filings, public offering pricing, and Q2 results respectively.

Portfolio Pulse from Lisa Levin

August 24, 2023 | 4:03 pm

AMD

NVDA

SSNLF

TSM

Nvidia's strong Q2 results have led to a selloff in AMD stock. Nvidia beat earnings and sales consensus, while AMD's Q2 results showed a YoY revenue drop. AMD is set to launch new graphics cards and has acquired AI software leader Mipsology. AMD also secured a deal with Samsung for its HBM3 memory technology. Both AMD and Nvidia are considering Samsung as a potential supplier due to TSM's inability to meet demand.

Portfolio Pulse from Anusuya Lahiri

August 24, 2023 | 3:54 pm

PTON

Peloton Interactive Inc (NASDAQ:PTON) shares are trading higher by 1.48% to $5.49, rebounding after a decline on Wednesday. The company reported mixed Q4 results, with 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 also issued soft Q1 revenue guidance.

Portfolio Pulse from Henry Khederian

August 24, 2023 | 3:30 pm

NVDA

NVIDIA Corporation (NASDAQ:NVDA) reported Q2 financial results that beat analysts’ estimates. Analysts from Goldman Sachs, Wedbush, Susquehanna, Morgan Stanley, Bernstein, and KeyBanc reacted positively, raising their price targets. The company saw strong demand for its generative artificial intelligence and improving supply chain. Analysts predict sustained revenue growth through 2024 due to strong demand for its Data Center segment. However, competition from large cloud service providers and other semiconductor companies is expected.

Portfolio Pulse from Chris Katje

August 24, 2023 | 3:30 pm

BBWI

FIVE

LULU

Retail stocks are experiencing a downturn following recent weak earnings reports in the sector.

Portfolio Pulse from Benzinga Newsdesk

August 24, 2023 | 3:18 pm