Streetbeat News

Earnings

CSCO

STNE

TSLA

WMT

WOLF

US stocks ended Wednesday in the red with the Nasdaq Composite and the S&P 500 experiencing a dip. Walmart, StoneCo, Cisco, Wolfspeed, and Tesla were the top stocks that gained the attention of retail traders and investors. Walmart is set to unveil its Q2 earnings on August 17. StoneCo reported a net revenue of BRL 3 billion, marking a 28% YoY increase. Cisco's shares soared in the post-market trading following the company’s impressive Q4 earnings report. Wolfspeed’s shares took a hit in the after-hours trading due to mixed Q4 financial results and Q1 EPS guidance below market expectations. Tesla’s shares faced a sharp decline following aggressive price cuts for its Model S and X vehicles in China.

Portfolio Pulse from Benzinga Neuro

August 17, 2023 | 2:27 am

GOLF

MODG

SPGC

Sacks Parente Golf, Inc. (NASDAQ:SPGC) went public at $4 a share and closed Tuesday trading at around $26 a share, marking a 600% gain. However, the stock dropped more than 80% on Wednesday, closing at $4.54. The company, which makes luxury putters, has yet to turn a profit. Other golf stocks have had mixed performance in 2023, with Acushnet Holdings Corp (NYSE:GOLF) up more than 25% and Topgolf Callaway Brands Corp (NYSE:MODG) down about 16% on the year.

Portfolio Pulse from Aaron Bry

August 16, 2023 | 10:43 pm

RDFN

Redfin CEO Glenn Kelman has warned that high mortgage rates are slowing down the housing market, as people are not moving and therefore not listing their homes. Despite higher mortgage rates increasing monthly payments, the underlying prices of homes have not dropped significantly. This is making it difficult for companies like Redfin Corp and Zillow Group Inc to sell homes. Both companies' stocks have rallied this year, but Redfin's stock has dropped more than 40% in the last month following disappointing earnings results.

Portfolio Pulse from Aaron Bry

August 16, 2023 | 10:09 pm

AIM

BCEL

BPTH

DRIO

DRTS

LIFW

MODD

NVOS

PAVM

PIRS

TCRT

VVOS

Healthcare stocks showed significant movement in Wednesday's after-market session. Gainers included Modular Medical (MODD), Atreca (BCEL), Pieris Pharmaceuticals (PIRS), DarioHealth (DRIO), PAVmed (PAVM), and AIM ImmunoTech (AIM). Losers included Vivos Therapeutics (VVOS), Alpha Tau Medical (DRTS), Bio-Path Hldgs (BPTH), Novo Integrated Sciences (NVOS), Alaunos Therapeutics (TCRT), and MSP Recovery (LIFW).

Portfolio Pulse from Benzinga Insights

August 16, 2023 | 9:32 pm

KULR

UAVS

Several industrial stocks experienced significant movement in Wednesday's after-market session. Notable gainers included AgEagle Aerial Sys, Ocean Power Techs, Hyliion Holdings, JE Cleantech Hldgs, SKYX Platforms, and Pineapple Energy. On the other hand, KULR Tech Gr, Asure Software, AERWINS Technologies, Surf Air Mobility, GD Culture Group, and FiscalNote Holdings saw declines.

Portfolio Pulse from Benzinga Insights

August 16, 2023 | 9:32 pm

AVT

MYSZ

WISA

WOLF

In Wednesday's after-market session, several Information Technology stocks saw significant movement. Avnet, WiSA Technologies, Datasea, Iveda Solutions, Argo Blockchain, and Auddia saw gains, while EMCORE, Wolfspeed, Cyngn, My Size, Greenidge Generation Hldg, and Tempo Automation Holdings experienced losses. Earnings reports were released for Avnet, WiSA Technologies, Wolfspeed, and My Size.

Portfolio Pulse from Benzinga Insights

August 16, 2023 | 9:32 pm

SNPS

Semiconductor supplier Synopsys, Inc. (NASDAQ:SNPS) reported better-than-expected Q3 results and issued guidance. The company also announced that Sassine Ghazi will become CEO effective Jan. 1, with current CEO Aart de Geus transitioning to executive chair. Synopsys reported Q3 earnings of $2.88 per share, beating the analyst consensus estimate of $2.74, and sales of $1.49 billion, beating the estimate of $1.48 billion. The company estimates full-year revenue growth between 14% and 15%, and EPS growth between 24% and 25%.

Portfolio Pulse from Ryan Gustafson

August 16, 2023 | 9:13 pm

ATHX

Athersys reported Q2 losses of $(0.62) per share, a 72.44% increase from $(2.28) per share YoY. Sales were $49.00K, a 97.88% decrease from $2.32M YoY.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 9:04 pm

LOVE

Lovesac (LOVE) has announced that its financial statements for FY 2023, included in the annual report on Form 10-K for the fiscal year ended January 29, 2023, should no longer be relied upon.

Portfolio Pulse from Charles Gross

August 16, 2023 | 9:02 pm

WOLF

Wolfspeed, Inc. (NYSE:WOLF) reported mixed Q4 results and lowered Q1 EPS guidance, causing its shares to trade lower in the after-hours session. The company reported Q4 losses of 42 cents per share, missing the analyst consensus estimate of losses of 20 cents. However, its Q4 sales of $235.8 million beat the analyst consensus estimate of $222.82 million. Wolfspeed anticipates Q1 EPS to be between losses of 75 cents and 60 cents, lower than the Street estimate of losses of 29 cents.

Portfolio Pulse from Ryan Gustafson

August 16, 2023 | 8:57 pm