Streetbeat News

Earnings

ANF

FL

Several consumer discretionary stocks experienced significant movement during Wednesday's intraday session. Abercrombie & Fitch (ANF), Kaival Brands Innovations (KAVL), Beachbody Co (BODY), Williams-Sonoma (WSM), Sacks Parente Golf (SPGC), and Citi Trends (CTRN) saw gains, with ANF leading with a 22.8% increase. On the other hand, Foot Locker (FL), Peloton Interactive (PTON), Kaixin Auto Hldgs (KXIN), Regis (RGS), ToughBuilt Industries (TBLT), and Mullen Automotive (MULN) experienced losses, with FL leading the decline with a 29.9% decrease.

Portfolio Pulse from Benzinga Insights

August 23, 2023 | 5:31 pm

NVDA

Nvidia Corporation (NASDAQ:NVDA) is set to report its Q2 earnings, with the market keen to gauge its performance in the AI sector. The chipmaker giant previously announced that Q2 revenues would exceed market expectations, driven by AI-related semiconductor sales. Wall Street analysts predict earnings per share of $2.08 and revenues of $11.19 billion for the quarter, representing a 316% increase in earnings and a 67% rise in revenues YoY. Nvidia's stock has shown resilience in recent trading sessions, rebounding from the 21-day moving average support.

Portfolio Pulse from Piero Cingari

August 23, 2023 | 5:26 pm

SAFE

Goldman Sachs analyst Caitlin Burrows initiated coverage on Safehold Inc. (NYSE:SAFE) with a Buy rating and a price target of $25. The analyst expects Safehold to realize an average annual EPS growth rate of 10.6% between 2024 and 2025. Acquisition volume, yield, and debt and equity costs are expected to be the primary drivers of SAFE's future earnings growth. Safehold's business benefits from repeat business, with 40% of its customers having multiple deals with the company.

Portfolio Pulse from Nabaparna Bhattacharya

August 23, 2023 | 5:03 pm

AGIL

FL

GRAB

Several stocks experienced significant movement in Wednesday's mid-day session. AgileThought, VCI Global, iTeos Therapeutics, Apellis Pharmaceuticals, and MicroCloud Hologram were among the top gainers, with increases ranging from 34.4% to 85.5%. Notable losers included Bruush Oral Care, Foot Locker, Orbital Infrastructure Group, Ideanomics, and Sunlight Financial Holdings, with decreases ranging from 23.1% to 41.8%. Grab Holdings rose by 9% following better-than-expected Q2 earnings and a raised annual adjusted EBITDA outlook.

Portfolio Pulse from Lisa Levin

August 23, 2023 | 5:02 pm

DBGI

Digital Brands Group, Inc. (NASDAQ:DBGI) shares have been volatile with heavy trading volume, leading to multiple trading halts. The company recently executed a 1-for-25 reverse stock split. DBGI's Q2 financial reports showed earnings of 38 cents per share and revenue of $4.5 million, a 69.6% increase. The company expects Q3 and Q4 revenues to be significantly higher. Despite this, DBGI shares are down by more than 3%.

Portfolio Pulse from Erica Kollmann

August 23, 2023 | 4:43 pm

DKS

NVDA

NVIDIA's earnings are expected to hit $2.07, up 305% from last year, making it the best performing stock in the S&P 500 this year. However, if they miss, the entire stock market could go down. Sales of existing US homes fell 2.2% in July, the lowest level since January. Standard and Poor's cut ratings for 5 US banks due to the squeeze on liquidity. Goldman Sachs identified 11 near-term beneficiaries of the AI revolution. Iran will continue to raise its oil production, while Goldman predicts lower global stocks will boost oil prices. Dick's Sporting Goods missed top and bottom line estimates for the first time in 3 years.

Portfolio Pulse from GRIT Capital

August 23, 2023 | 4:40 pm

RHE

Regional Health Properties (RHE) shares were halted on a circuit breaker to the upside after the company reported its Q2 earnings. The stock is now up 27.4%.

Portfolio Pulse from Happy Mohamed

August 23, 2023 | 4:38 pm

RHE

Regional Health Props (AMEX:RHE) reported Q2 earnings of $22.68 per share, a 1222.77% increase YoY. However, sales decreased by 43.19% to $4.60 million compared to $8.09 million in the same period last year.

Portfolio Pulse from Happy Mohamed

August 23, 2023 | 4:37 pm

ISRG

MDT

Medtronic Plc's Q1 FY24 performance exceeded market expectations, with improved gross margins and effective control of operating expenses. The company's future performance is expected to be positively impacted by strategic areas and impending product launches. Analysts from William Blair, Morgan Stanley, and Oppenheimer have expressed positive sentiments about the company's performance and future prospects. Mizuho Securities raised the price target for Medtronic to $100 from $95. Medtronic's shares are up 0.07% at $83.77.

Portfolio Pulse from Vandana Singh

August 23, 2023 | 4:35 pm

SMCI

Super Micro Computer Inc (NASDAQ:SMCI) reported better-than-expected earnings for Q4 and received a forecast raise by Susquehanna analyst Mehdi Hosseini. Wedbush noted a fundamental shift in the company that created the foundation for its upbeat guidance for fiscal 2024. Matt Bryson upgraded the rating for Super Micro Computer from Underperform to Neutral, while keeping the price target unchanged at $250. The company's investments in generative AI training yielded results from March through June.

Portfolio Pulse from Priya Nigam

August 23, 2023 | 4:33 pm