Streetbeat News

Earnings

JD

JD.com reported Q2 FY23 revenue growth of 7.6% YoY to $39.7 billion, surpassing the consensus of $38.7 billion. Non-GAAP net income per ADS of $0.74 also beat the consensus of $0.66. The company's net product revenue grew by 3.5% YoY to $32.25 billion, and net service revenues rose 30.1% YoY to $7.46 billion. JD.com generated $6.14 billion in free cash flow and held $33.5 billion in cash and equivalents. Despite the positive results, the company's stock fell with the broader China index.

Portfolio Pulse from Anusuya Lahiri

August 16, 2023 | 12:30 pm

CAH

Cardinal Health Inc (NYSE:CAH) reported better-than-expected Q4 earnings and raised its FY24 guidance. The company's Q4 adjusted EPS was $1.55, up 48% Y/Y, beating the consensus of $1.48. Sales increased 13% to $53.45 billion, beating the consensus of $52.41 billion. Following the earnings announcement, Mizuho and Baird analysts increased their price targets on Cardinal Health.

Portfolio Pulse from Lisa Levin

August 16, 2023 | 12:27 pm

NVOS

SPGC

Shares of several companies including Novo Integrated Sciences, EBET, DLocal Limited, Precision BioSciences, T2 Biosystems, STRATA Skin Sciences, The Alkaline Water Company, Lineage Cell Therapeutics, Tivic Health Systems, and Biophytis S.A. are trading higher in pre-market due to various reasons such as better-than-expected financial results, strategic transactions, and strong quarterly results. On the other hand, shares of Sacks Parente Golf, Coherent Corp., Castellum, Greenbrook TMS, Carmell Therapeutics Corporation, SRM Entertainment, SCYNEXIS, Tower Semiconductor, Trevena, and Mercury Systems are trading lower in pre-market due to reasons such as downbeat quarterly results, pricing of IPO, termination of merger deal, and weak forecasts.

Portfolio Pulse from Lisa Levin

August 16, 2023 | 12:19 pm

TGT

Target Corporation (NYSE:TGT) reported its Q2 financial results, with earnings at $1.80 per share, up from 39 cents per share year-on-year, and revenue of $24.77 billion, down from $26.04 billion year-on-year. Options traders are betting on a 7% move post earnings release, with one buyer purchasing 1,200 of the September 120-puts at an average price of $4.80 per contract, implying a potential 5% fall in Target's stock by September expiration.

Portfolio Pulse from Lisa Levin

August 16, 2023 | 12:16 pm

A

Agilent Technologies reported better-than-expected Q3 earnings but lowered its full-year guidance. The company's shares lost 2.6% in pre-market trading. Analysts from Barclays, Credit Suisse, and Baird have revised their price targets for Agilent following the earnings announcement.

Portfolio Pulse from Lisa Levin

August 16, 2023 | 12:13 pm

BXRX

Baudax Bio reported Q2 losses of $(1.49) per share, a 93.84% increase over losses of $(24.20) per share from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 12:11 pm

SE

Sea Limited (NYSE:SE) reported lower than expected Q2 results, with a revenue growth of 5.2% YoY to $3.096 billion, missing the consensus of $3.420 billion. Adjusted EPS of $0.54 also missed the consensus of $0.69. Following the announcement, Sea shares fell 28.7% to close at $40.58 on Tuesday. Analysts from B of A Securities, Bernstein, and Citigroup have lowered their price targets on Sea.

Portfolio Pulse from Lisa Levin

August 16, 2023 | 12:02 pm

TWIN

Twin Disc (NASDAQ:TWIN) reported Q4 earnings of $0.62 per share, a 6.9% increase YoY. The company also reported sales of $83.92M, a 10.46% increase YoY.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 12:02 pm

BABA

FXI

KWEB

Alibaba's stock is trading lower, in line with broader index ETFs iShares China Large-Cap ETF and KraneShares Trust KraneShares CSI China Internet ETF. Alibaba Cloud's business communication platform, DingTalk, will split from Alibaba Cloud, which is planning to spinoff from Alibaba Group for an IPO. Alibaba reported a 14% YoY revenue growth in Q1 FY23, beating consensus.

Portfolio Pulse from Anusuya Lahiri

August 16, 2023 | 11:59 am

TGT

TJX

Retail companies' shares are trading higher following strong quarterly earnings from Target and TJX.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 11:53 am