Streetbeat News

Earnings

STIX

Semantix (NASDAQ:STIX) reported a 42.60% decrease in sales this quarter, with sales of $9.70 million compared to $16.89 million in the same period last year. The company also reported a loss of $7.28 million.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 12:05 pm

NNOX

Nano X Imaging reported Q2 losses of $(0.18) per share, beating the analyst consensus estimate of $(0.26) by 30.77%. However, the company's quarterly sales of $2.58 million missed the analyst consensus estimate of $3.15 million by 18.03%.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 12:04 pm

AMZN

GOOG

GOOGL

META

Alphabet Inc's unit, Verily Life Sciences, is intensifying cost-cutting measures after reporting higher-than-expected losses in 2023. The company laid off 15% of its workforce and posted operating losses of $17 million more than projected. Verily is part of Alphabet's Other Bets unit, which has accumulated over $30 billion in losses. Verily's CFO reassured employees that Google would continue to provide necessary funding. Other tech giants like Amazon and Meta Platforms have also trimmed projects with no immediate commercial viability.

Portfolio Pulse from Vandana Singh

August 17, 2023 | 11:54 am

LNVGY

Lenovo Group Ltd reported a 24% year-on-year decrease in Q1 FY24 revenue to $12.9 billion, falling short of the consensus estimate of $13.84 billion. The company's Solutions and Services Group posted an 18% revenue growth, while the Infrastructure Solutions Group and Intelligent Devices Group saw declines of 8% and 28% respectively. Lenovo plans to invest $1 billion in AI deployment for businesses globally over the next three years.

Portfolio Pulse from Lekha Gupta

August 17, 2023 | 11:48 am

AVT

CSCO

QQQ

SPY

WMT

WOLF

US stock futures are showing signs of a potential rebound after a two-day slide, with Walmart Inc. (NYSE:WMT) seeing premarket gains following its above-consensus Q2 results and upgraded full-year forecast. The market is likely to focus on outcomes from a regional manufacturing survey, jobless claims, and the leading economic index. The SPDR S&P 500 ETF Trust (NYSE:SPY) and the Invesco QQQ ETF (NASDAQ:QQQ) also saw premarket gains. Stocks in focus include Cisco Systems, Inc. (NASDAQ:CSCO), Avnet, Inc. (NASDAQ:AVT), Wolfspeed, Inc. (NYSE:WOLF), Bilibili, Inc. (NASDAQ:BILI), Children’s Place, Inc. (NASDAQ:PLCE), Bill Holdings, Inc. (NYSE:BILL), Applied Materials, Inc. (NASDAQ:AMAT), Farfetch Ltd. (NYSE:FTCH), and Ross Stores, Inc. (NASDAQ:ROST).

Portfolio Pulse from Shanthi Rexaline

August 17, 2023 | 11:44 am

WMT

Walmart Inc (NYSE:WMT) reported Q2 FY24 sales growth of 5.7% YoY to $161.10 billion, beating the analyst consensus estimate. Net sales from Walmart U.S. increased 5.4% YoY, Walmart International rose 13.3%, and Sam's Club fell 0.3%. eCommerce growth was 24% and global advertising business grew by over 35%. The company raised FY24 adjusted EPS guidance from $6.10 - $6.20 to $6.36 - $6.46. WMT shares are trading higher by 1.29% at $161.32 in premarket.

Portfolio Pulse from Shivani Kumaresan

August 17, 2023 | 11:43 am

LITE

Lumentum Holdings has projected its Q1 revenue to be between $300M and $325M, which is lower than the estimated $369.1M. The company also expects its adjusted EPS to be between $0.20 and $0.35, compared to the estimated $0.58.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 11:34 am

HIPO

JRVR

LPRO

PRAA

UFCS

The article lists five financial stocks that are currently oversold, presenting a potential buying opportunity. These include Hippo Holdings Inc. (HIPO), James River Group Holdings, Ltd. (JRVR), Open Lending Corporation (LPRO), PRA Group, Inc. (PRAA), and United Fire Group, Inc. (UFCS). The companies have reported mixed Q2 results, with some beating expectations and others posting losses.

Portfolio Pulse from Lisa Levin

August 17, 2023 | 11:33 am

ARCO

Arcos Dorados Holdings (ARCO) reported Q2 earnings of $0.13 per share, missing the analyst consensus estimate of $0.14 by 7.14%. The company also reported quarterly sales of $1.04 billion, missing the analyst consensus estimate of $1.05 billion by 0.95%. However, both earnings and sales have increased compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 11:32 am

SGHC

Super Group (SGHC) reported Q2 earnings of $5.77 per share, beating the analyst consensus estimate of $0.02 by 28750 percent. This is an increase of 801.56 percent from the same period last year. The company also reported quarterly sales of $413.36 million, beating the analyst consensus estimate of $383.05 million by 7.91 percent, a 20.89 percent increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 11:32 am