Streetbeat News

Earnings

COHR

GOEV

MRCY

NIO

SPGC

TMC

TSEM

VFS

Several stocks are recording losses in today's pre-market trading session. Sacks Parente Golf shares tumbled 27.9% after announcing the pricing of its $12.8 million IPO. Coherent Corp shares declined 21.9% following the company's Q4 results. VinFast Auto shares fell 11.9% after recently completing its SPAC merger. Tower Semiconductor and Intel mutually agreed to terminate their merger deal, leading to an 11.8% dip in Tower Semiconductor shares. Mercury Systems shares declined 10.2% after reporting weaker-than-expected Q4 results and a weak FY24 forecast. TMC the metals company shares fell 5.5%, Canoo Inc fell 5% following its Q2 results, and NIO Inc fell 4% ahead of its Q2 2023 results announcement.

Portfolio Pulse from Lisa Levin

August 16, 2023 | 10:01 am

COHR

Coherent Inc. has projected its FY24 revenue to be between $4.5B and $4.7B, which is lower than the estimated $5.1B. The company also expects its adjusted EPS to be between $1.00 and $1.50, significantly lower than the estimated $2.96.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 9:56 am

COHR

Coherent Inc. has projected its Q1 revenue to be between $1.0B and $1.1B, which is below the consensus estimate of $1.17B. The company also expects its adjusted EPS to be between $0.05 and $0.20, lower than the estimated $0.46.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 9:54 am

COHR

Coherent (NASDAQ:COHR) reported Q4 adjusted earnings of $0.41 per share, beating the analyst consensus estimate of $0.38 by 7.89%. However, this is a 58.16% decrease from the same period last year. The company also reported quarterly sales of $1.21 billion, beating the analyst consensus estimate of $1.15 billion by 4.69%, a 35.85% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 9:48 am

DADA

Dada Nexus Ltd (NASDAQ:DADA) reported Q2 FY23 sales of $401.37 million, missing the analyst consensus of $418.25 million. However, the company posted its first-ever positive quarterly non-GAAP net income, with an adjusted EPS of $0.00, beating the consensus estimate of $(0.02). For Q3, DADA expects net revenues of RMB 2.8 billion - RMB 3.00 billion, representing a 17.6% - 26% growth Y/Y.

Portfolio Pulse from Shivani Kumaresan

August 16, 2023 | 9:44 am

WTER

Alkaline Water Co (NASDAQ:WTER) reported a 16% year-over-year increase in revenues, reaching a historic high of $63.8 million for FY23. The company also made significant progress on its Pathway to Profitability, reducing its net loss from $39.6 million to $27.4 million.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 9:14 am

UCL

UCLOUDLINK GROUP expects its Q3 revenue to be between $23.5M and $24.5M, which is higher than the estimated $23.1M.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 8:10 am

CSCO

DLO

MRCY

TJX

The article highlights five stocks to watch on Wednesday: The TJX Companies, Inc. (TJX), Mercury Systems, Inc. (MRCY), JD.com, Inc. (JD), DLocal Limited (DLO), and Cisco Systems, Inc. (CSCO). TJX is expected to post quarterly earnings of 76 cents per share on revenue of $12.42 billion. MRCY reported weaker-than-expected Q4 results and issued a weak FY24 forecast. JD is expected to have earned 67 cents per share on revenue of $38.66 billion. DLO reported better-than-expected Q2 results and reaffirmed FY23 revenue guidance. CSCO is expected to report quarterly earnings of $1.06 per share on revenue of $15.05 billion.

Portfolio Pulse from Lisa Levin

August 16, 2023 | 8:09 am

UCL

Ucloudlink Group (NASDAQ:UCL) reported Q2 earnings of $0.05 per share, beating the analyst consensus estimate of $0.02 by 150%. This is a 200% increase from the same period last year. The company also reported quarterly sales of $21.98 million, beating the analyst consensus estimate of $21.65 million by 1.51%. This is a 21.93% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 8:09 am

CSCO

KBE

TGT

TJX

The CNN Money Fear and Greed index showed a decline in overall sentiment among U.S. investors, with the Dow Jones falling more than 300 points. The SPDR S&P Regional Banking ETF (KBE) declined around 3%. China reported disappointing economic data, while the U.S. saw a rise in retail sales and export prices. The Home Depot, Inc. (HD) reported better-than-expected Q2 results. Investors are awaiting earnings results from Target Corporation (TGT), The TJX Companies, Inc. (TJX), JD.com, Inc. (JD) and Cisco Systems, Inc. (CSCO).

Portfolio Pulse from Lisa Levin

August 16, 2023 | 6:58 am