Streetbeat News

Earnings

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

LITE

Lumentum Holdings (NASDAQ:LITE) reported Q4 earnings of $0.59 per share, beating the analyst consensus estimate of $0.55 by 7.27%. However, this is a 59.86% decrease from the same period last year. The company also reported quarterly sales of $370.80 million, beating the analyst consensus estimate of $366.47 million by 1.18%, but this is a 12.15% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 11:31 am

MSGS

Madison Square Garden (NYSE:MSGS) reported Q4 losses of $(0.39) per share, missing the analyst consensus estimate of $(0.14) by 178.57%. This is a 135.14% decrease from last year's earnings. However, the company's quarterly sales of $126.90 million beat the analyst consensus estimate of $123.77 million by 2.53%, despite being a 27.57% decrease from last year's sales.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 11:30 am

BILI

Bilibili Inc reported Q2 FY23 revenue growth of 8% YoY to $731.5 million, beating the consensus of $726.4 million. The company's average daily active users climbed 15% YoY to 96.5 million. However, revenues from mobile games were down 15% YoY due to the lack of new game launches. The company expects FY23 revenues of RMB22.5 billion - RMB23.5 billion, lower than the previous expectation due to the delay of certain game launches and lower-than-expected revenue from non-core businesses.

Portfolio Pulse from Anusuya Lahiri

August 17, 2023 | 11:25 am