Streetbeat News

Earnings

GPS

Telsey Advisory Group analyst Dana Telsey reiterated the Market Perform rating on Gap, Inc. (NYSE:GPS) with an unchanged price target of $11. Telsey highlighted Gap's robust inventory control and cost management, expecting $150 million in annualized cost savings to be realized in 2H23. Gap's 2Q23 EPS is expected to be $0.05, down from $0.08 last year. Total sales are expected to decrease 6.4% YoY to $3.61 billion. Gap shares are currently trading higher by 2.02% to $10.35.

Portfolio Pulse from Nabaparna Bhattacharya

August 18, 2023 | 7:43 pm

SLS

SELLAS Life Sciences Group reported better-than-expected Q2 EPS results, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

August 18, 2023 | 7:37 pm

UUU

Universal Security Instruments reported its Q1 financial results, which led to a decrease in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

August 18, 2023 | 7:33 pm

VJET

Voxeljet's shares are trading lower following the release of the company's Q2 financial results.

Portfolio Pulse from Benzinga Newsdesk

August 18, 2023 | 7:08 pm

WSM

Telsey Advisory Group analyst Cristina Fernández reiterated an Outperform rating on Williams-Sonoma, Inc. (NYSE:WSM), raising the price target to $146 from $135. The analyst expects a further softening in demand for home furnishings during Williams-Sonoma's 2Q23, with a predicted decline in comparable brand sales. However, the company's diverse product range could offset this dip. The analyst also expects the gross margin in 2Q23 to be significantly pressured by high supply chain costs.

Portfolio Pulse from Nabaparna Bhattacharya

August 18, 2023 | 7:01 pm

EL

FTCH

ROSS

TGT

TJX

WMT

Discount retailers like TJX Corporation and Ross Stores Inc have thrived as consumers drift away from high-end retailers. Ross Stores topped quarterly estimates and improved its outlook, causing its shares to rise about 6%. The Estee Lauder Companies issued a weak guidance and slow recovery of its business in Asia. Farfetch Limited stock dropped after the luxury fashion e-commerce retailer posted a big revenue miss and weaker than expected guidance. This trend continues the narrative that high-end retailers are losing out, while necessities and off-price retailers are winning.

Portfolio Pulse from Upwallstreet

August 18, 2023 | 6:16 pm

CMPS

CRLBF

Cresco Labs released Q2 2023 results with a revenue of $198m, up 2% sequentially, and an adjusted EBITA stock rise to $40.9m. Columbia Care's Q2 revenues fell slightly to $129m. COMPASS Pathways announced a securities purchase agreement that could secure most of the funding for their ongoing Phase 3 psilocybin-assisted clinical therapy trial. The agreement entails the issuance of 16,076,750 American Depositary Shares and equivalent number of purchase warrants, potentially bringing in approximately $125m directly to COMPASS.

Portfolio Pulse from The Dales Report

August 18, 2023 | 5:20 pm

IOT

An option alert has been issued for Samsara with October 20 $30 calls sweep near the ask price. The volume of this option is 499 at $0.9 versus an open interest of 2671. The reference price is $23.82. Samsara's earnings report is due on August 31 after the market closes.

Portfolio Pulse from Charles Gross

August 18, 2023 | 5:18 pm

AMAT

Applied Materials reported better-than-expected Q3 financial results and issued Q4 EPS and revenue guidance above estimates, leading to a rise in its share price.

Portfolio Pulse from Benzinga Newsdesk

August 18, 2023 | 5:05 pm

EXPR

Express Inc. has issued preliminary Q2 financial results, announced a 1-for-20 reverse stock split, and plans to reduce its workforce by the end of Q3. This has led to a decrease in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

August 18, 2023 | 4:59 pm