Streetbeat News

Earnings

MSGM

Motorsport Games reported its Q2 financial results, which led to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 2:54 pm

AMZN

GOOG

MSFT

PFE

TEVA

S&P Global Ratings has downgraded several US regional banks due to the Federal Reserve's monetary policy. YouTube, a subsidiary of Alphabet Inc, has unveiled its AI music principles in partnership with Universal Music Group. Titan Global Capital Management USA LLC has agreed to pay over $1 million to settle charges by the SEC. Teva Pharmaceutical Industries Limited has agreed to pay $225 million in criminal fines to settle charges related to price fixing. The FDA has approved Pfizer Inc's Abrysvo vaccine. Apollo Global Management Inc has acquired a majority interest in Composite Advanced Technologies Inc. Microsoft Corp has revised its proposal to purchase Activision Blizzard Inc. Retailers with pharmacy businesses are seeing a boost in sales due to increased demand for prescription weight loss drugs. Amazon.Com Inc has unveiled its Fire TV Channels app. Waystar Inc is reportedly making strides toward an IPO. Baidu Inc, Macy's Inc, BJ's Wholesale Club Holdings Inc, Medtronic Plc, Lowe's Companies Inc, and Dick's Sporting Goods Inc have all reported their Q2 earnings.

Portfolio Pulse from Vandana Singh

August 22, 2023 | 2:51 pm

TIO

Tingo Group has announced the postponement of its Q2 earnings release, conference call, and the filing of its Form 10-Q. This has resulted in a decrease in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 2:50 pm

FLXS

Flexsteel Industries reported its Q4 financial results, which led to a decrease in the company's share prices.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 2:46 pm

LEEEF

LEEF Brands, Inc. (OTC:LEEEF) (CSE:LEEF) reported Q2 2023 financial results, with net sales of $9.3 million, up 14.6% YoY. The company also reported a gross profit of $2.9 million, an increase of 8.2% YoY, and an adjusted EBITDA of $293,268. However, the company reported a net loss of $20.3 million, higher than the $16.5 million loss in Q2 2022. The company's shares were trading 6.66% higher at $0.0192 per share.

Portfolio Pulse from Vuk Zdinjak

August 22, 2023 | 2:44 pm

GEF

GPK

OXM

TNL

UHG

Benzinga Insights has identified five value stocks in the consumer cyclical sector that may be worth watching: United Homes Gr (UHG), Travel+Leisure (TNL), Greif (GEF), Oxford Industries (OXM), and Graphic Packaging Holding (GPK). These companies have been selected based on their low P/E multiples, indicating they may be undervalued. The companies have also reported Q2 earnings per share and dividend yields.

Portfolio Pulse from Benzinga Insights

August 22, 2023 | 2:44 pm

IMMR

RELL

SURG

TSRI

Benzinga Insights has identified five value stocks in the technology sector based on quantified analysis. These include Daqo New Energy (NYSE:DQ), Surgepays (NASDAQ:SURG), TSR (NASDAQ:TSRI), Richardson Electronics (NASDAQ:RELL), and Immersion (NASDAQ:IMMR). The companies have been selected due to their low P/E multiples, indicating they may be undervalued. Recent earnings per share and dividend yield data for each company is also provided.

Portfolio Pulse from Benzinga Insights

August 22, 2023 | 2:41 pm

Fabrinet (NYSE:FN) reported better-than-expected Q4 earnings of $1.86 per share, beating the consensus estimate of $1.80. The company also reported quarterly sales of $655.87 million, surpassing the estimate of $641.41 million. Fabrinet issued Q1 earnings guidance between $1.83 and $1.90 per share, with revenue anticipated to be between $650 million and $670 million. Following the earnings announcement, analysts from Needham, Lake Street, and Northland Capital Markets raised their price targets on Fabrinet.

Portfolio Pulse from Lisa Levin

August 22, 2023 | 2:38 pm

FULC

HAS

HKD

VFS

Several stocks recorded gains in the recent trading session. Fulcrum Therapeutics shares gained 42.8% after the FDA lifted clinical hold on the company’s FTX-6058 for sickle cell disease. VinFast Auto gained 36.5% amid volatility following its recent Nasdaq debut. Fabrinet jumped 25% after reporting better-than-expected Q4 results and issuing guidance. AMTD Digital gained 13.8% after announcing a $30 million share repurchase program. Hasbro rose 7.4% after B of A Securities maintained a Buy rating and raised the price target.

Portfolio Pulse from Lisa Levin

August 22, 2023 | 2:29 pm

NIO

NIO Inc's shares have been volatile this week, with a 2.6% gain on Monday followed by a drop on Tuesday. The fluctuation follows the company's announcement of increased production of its ES6 vehicle after a temporary halt in August for manufacturing process upgrades. NIO's monthly delivery numbers have shown a steady increase in Q2, with 20,462 vehicles delivered last month. However, forecasts for China's economic expansion have been revised lower due to rate uncertainty, pressuring several Chinese companies. NIO is expected to report a Q2 loss of 36 cents per share and revenue of $1.35 billion on August 29.

Portfolio Pulse from Adam Eckert

August 22, 2023 | 2:28 pm