Streetbeat News

Earnings

DLO

DLocal Limited (NASDAQ:DLO) reported better-than-expected Q2 financial results and reaffirmed its full-year guidance, leading to a surge in its stock price. Q2 revenue increased 59% YoY to $161.1 million, beating the consensus estimate of $151.18 million. The company also reported quarterly earnings of 15 cents per share, surpassing estimates of 13 cents per share. Following the announcement, Susquehanna analyst James Friedman maintained a Positive rating for DLocal and raised the price target from $18 to $24.

Portfolio Pulse from Adam Eckert

August 16, 2023 | 1:39 pm

CCHWF

CRLBF

Cresco Labs reported a 2% sequential increase and 9.3% YoY drop in Q2 revenue to $198 million. Gross profit was $87 million, down from $112.8 million YoY. Net loss increased to $43.5 million, up from $8.3 million YoY. The company also announced the termination of a deal to acquire Columbia Care, with no penalties or fees related to the termination.

Portfolio Pulse from Jelena Martinovic

August 16, 2023 | 1:39 pm

EAT

Brinker International, Inc. (NYSE:EAT) reported Q4 revenues of $1.076 billion, slightly missing the consensus of $1.080 billion. However, the company's adjusted EPS of $1.39 beat the $1.32 estimate. The company benefited from favorable food and beverage costs, reasonable income taxes, menu pricing, and a favorable menu item mix. Comparable sales increased by 6.6%, with an increase in comparable restaurant sales of 6.3% for Chili's and 9.1% for Maggiano's. EAT shares are trading lower by 3.77% to $35 on the last check Wednesday.

Portfolio Pulse from Nabaparna Bhattacharya

August 16, 2023 | 1:34 pm

GOOGL

Alphabet (NASDAQ:GOOGL) is showing high relative strength post earnings, resisting market pullback. The company's stock gapped higher following a well-received earnings report and is now consolidating. The article suggests a swing trade setup with risk management, buying a breakout of the diagonal on the GOOG chart combined with the breakout in a horizontal type of pivot.

Portfolio Pulse from Leif Soreide

August 16, 2023 | 1:27 pm

ZIM

ZIM Integrated Shipping Services Ltd reported a 62% Y/Y sales decline to $1.31 billion, missing the consensus of $1.35 billion for Q2. The company generated an EPS loss of $(1.79), vs. consensus of $(0.88). Adjusted EBITDA fell 87% Y/Y to $275 million. The company's total cash position stood at $3.2 billion as of June 30. ZIM shares are trading lower by 5.51% at $12.70 premarket on the last check Wednesday.

Portfolio Pulse from Lekha Gupta

August 16, 2023 | 1:26 pm

SNPS

Synopsys, Inc. (NASDAQ:SNPS) is set to report its Q3 2023 financial results on Aug. 16, 2023. Analysts predict earnings of $2.74 per share, up from $2.1 per share a year ago, and revenue of $1.48 billion, up from $1.25 billion. The company's shares closed at $436.74 on Tuesday. Recent analyst ratings include Wells Fargo's Overweight rating with a price target of $505, Baird's Outperform rating with a price target of $447, B of A Securities' upgrade to Buy with a price target of $410, and Stifel's initiation of coverage with a Buy rating and a price target of $445.

Portfolio Pulse from Lisa Levin

August 16, 2023 | 1:23 pm

AMTD

HKD

AMTD Digital Inc. (NYSE:HKD) expects to achieve over 50% increase in net profit for FY23, driven by new business approaches and expansion in media, entertainment, and culture. The company's growth is also attributed to the acquisition of The Art Newspaper and the expansion of L'Officiel Inc. SAS. AMTD IDEA Group's injection of its entire equity interest in AMTD Assets Group into AMTD Digital has also contributed to the company's growth.

Portfolio Pulse from Happy Mohamed

August 16, 2023 | 1:19 pm

CAR

Avis Budget Group Inc (NASDAQ:CAR) has been fined $275,000 by New York state for refusing to rent vehicles to customers without credit cards. This practice was deemed discriminatory against low-income consumers and communities of color. In Q2 2023, Avis reported EPS of $11.01, above the consensus of $9.79, but sales of $3.12 billion missed the estimate of $3.19 billion. CAR shares closed lower by 3.30 at $224.14 on Tuesday.

Portfolio Pulse from Lekha Gupta

August 16, 2023 | 1:16 pm

PSFE

Paysafe Limited (NYSE:PSFE) reported better-than-expected Q2 FY23 results and raised its FY23 revenue guidance above estimates. The company's shares gained 23.9% to close at $14.64 on Tuesday. Following the earnings announcement, several analysts revised their price targets on Paysafe, with Credit Suisse, Susquehanna, and RBC Capital increasing their targets, while BMO Capital cut its target.

Portfolio Pulse from Lisa Levin

August 16, 2023 | 1:10 pm

HCANF

Halo Collective Inc. reported a 48.1% YoY decline in Q2 2023 revenue, amounting to $3.57 million. The company attributed the dip to an oversupply issue in Oregon and California, leading to lower prices. Additionally, Halo Collective has delisted its securities from the CBOE Exchange. Despite the revenue decline, the company saw a decrease in net loss and operating expenditures compared to Q2 2022. The company's shares closed 12.5% lower at $0.018 per share.

Portfolio Pulse from Nina Zdinjak

August 16, 2023 | 1:09 pm