Streetbeat News

Earnings

COTY

Coty Inc. reported Q2 earnings with sales growth of 16% YoY to $1.35 billion, beating the consensus of $1.31 billion. However, adjusted EPS was $0.01, missing the analyst consensus of $0.02. Following the announcement, Citigroup, Wells Fargo, and Morgan Stanley revised their price targets on Coty. Coty shares fell 2.3% to close at $10.72 on Tuesday.

Portfolio Pulse from Lisa Levin

August 23, 2023 | 1:30 pm

BJ

BJ's Wholesale Club Holdings Inc reported Q2 FY23 sales decline of 2.9% YoY to $4.96 billion, missing the analyst consensus of $5.15 billion. Adjusted EPS of $0.97 beat the analyst consensus of $0.90. The company expects FY23 EPS of $3.80-$3.92. Following the earnings announcement, B of A Securities, UBS, and Morgan Stanley lowered their price targets on BJ's Wholesale. The company's shares fell 5.1% to close at $66.16 on Tuesday.

Portfolio Pulse from Lisa Levin

August 23, 2023 | 1:24 pm

BVS

ENTX

MTTR

SWIM

Insiders at Matterport, Latham Group, Bioventus, and Entera Bio have recently acquired shares in their respective companies. Matterport's director bought 100,000 shares following the company's joining of the LOT Network. Latham Group's CEO purchased 8,000 shares after the company reported better-than-expected Q2 revenue. Bioventus' interim CEO acquired 39,885 shares after the company posted better-than-expected quarterly results. Entera Bio's director bought 40,000 shares amid the company's reported net loss of $4.5 million for H1 2023.

Portfolio Pulse from Lisa Levin

August 23, 2023 | 1:23 pm

ADI

Analog Devices, Inc (NASDAQ:ADI) reported a Q3 FY23 revenue decline of 1% YoY to $3.08 billion, missing the consensus of $3.10 billion. Adjusted EPS of $2.49 also missed the consensus of $2.52. The company's Industrial and Automotive revenues grew, while Communications and Consumer revenues declined. The company's adjusted gross margin and operating margin also fell. The company declared a quarterly cash dividend of $0.86 per share. The company's Q4 revenue and adjusted EPS outlook also fell short of consensus estimates.

Portfolio Pulse from Anusuya Lahiri

August 23, 2023 | 1:18 pm

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