Streetbeat News

Earnings

PANW

SLGG

SXTC

Several stocks have seen significant movement in pre-market trading. Notably, Palo Alto Networks, Inc. (NASDAQ:PANW) shares rose by 12.3% following better-than-expected Q4 earnings and a strong billings outlook. Other gainers include China SXT Pharmaceuticals, Inc. (NASDAQ:SXTC), Tian Ruixiang Holdings Ltd (NASDAQ:TIRX), and Adial Pharmaceuticals, Inc. (NASDAQ:ADIL). On the other hand, Super League Gaming, Inc. (NASDAQ:SLGG) and Napco Security Technologies, Inc. (NASDAQ:NSSC) shares fell significantly.

Portfolio Pulse from Lisa Levin

August 21, 2023 | 12:32 pm

ADIL

Adial Pharmaceuticals (NASDAQ:ADIL) reported its Q2 2023 financial results, revealing a cash position of $1.2M, down from $4M at the end of 2022. The company received positive feedback from US and EU regulatory meetings and is planning to conduct two Phase 3 trials with AD04. The sale of Purnovate significantly reduced the company's cash burn rate. Adial also received an upfront payment of $450K from Adovate, LLC for the purchase of Purnovate's assets and business, with potential for up to $83M in total consideration.

Portfolio Pulse from Happy Mohamed

August 21, 2023 | 12:32 pm

DE

Deere & Co (NYSE:DE) reported better-than-expected Q3 earnings with net sales and revenue growth of 12% Y/Y to $15.80 billion, beating the consensus of $14.25 billion. EPS of $10.20 also surpassed the consensus of $8.20. The company raised its FY23 outlook for net income to $9.75 billion-$10.00 billion from $9.25 billion-$9.50 billion. Despite the positive results, Deere shares fell 5.3% to close at $397.02 on Friday but added 0.3% in today’s pre-market trading session. JP Morgan, Credit Suisse, and UBS revised their price targets on Deere following the earnings announcement.

Portfolio Pulse from Lisa Levin

August 21, 2023 | 12:25 pm

TKC

Turkcell Iletisim reported better-than-expected Q2 financial results, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2023 | 12:18 pm

CRGO

Freightos (NASDAQ:CRGO) reported Q2 adjusted losses of $(0.10) per share, beating the analyst consensus estimate of $(0.14) by 28.57%. This is a 87.01% increase over losses of $(0.77) per share from the same period last year. The company also reported quarterly sales of $5.09 million, beating the analyst consensus estimate of $5.00 million by 1.86%. However, this is a 1.28% decrease over sales of $5.16 million the same period last year.

Portfolio Pulse from Happy Mohamed

August 21, 2023 | 12:05 pm

GTEC

Greenland Technologies (NASDAQ:GTEC) reported Q2 earnings of $0.18 per share, beating the analyst consensus estimate of $0.03 by 500%. This is a 38.46% increase from the same period last year. The company also reported quarterly sales of $23.57 million, beating the analyst consensus estimate of $21.71 million by 8.57%. This is a 14.40% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2023 | 12:05 pm

MAC

Macerich Co (MAC) reported a 34% YoY increase in signed leases year-to-date, with 191 leases for 1.4 million square feet in Q2. Portfolio-wide occupancy rose to 92.6%, up 80 basis points YoY and 40 basis points QoQ. The company opened 263,000 square feet of new stores in Q2, a 20% increase YoY. However, Q2 sales of $212.37 million missed the estimate of $218.71 million, and FFO per share was $0.40, down from $0.46 a year ago.

Portfolio Pulse from Lekha Gupta

August 21, 2023 | 12:03 pm

PANW

Palo Alto Networks has announced Q1 and FY EPS guidance above analyst estimates, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2023 | 12:02 pm

JT

Jianpu Technology (NYSE:JT) reported Q2 adjusted EPADS of $(0.05), a 54.55% increase from $(0.11) YoY. However, sales were down 0.50% to $39.38M from $39.57M YoY.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2023 | 11:35 am

BTTR

Better Choice Co (AMEX:BTTR) reported Q2 losses of $(0.10) per share, a 33.33% improvement from $(0.15) per share YoY. However, sales decreased by 36.20% to $10.54 million from $16.52 million YoY.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2023 | 11:35 am