Streetbeat News

Earnings

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Columbia Care Inc. released its Q2 2023 financial results, revealing $129.2 million in revenue, a 3.8% sequential increase but a 0.3% decrease from the same period last year. The company's gross profit was $52.1 million, up from $47 million in the prior quarter. The company also reported a net loss of $29 million, an improvement from the $36.6 million net loss in the prior period. The company and Cresco Labs Inc. mutually terminated a deal under which Cresco agreed to acquire all of the issued and outstanding shares of Columbia Care. Columbia Care's shares traded 0.7624% higher at $0.4282 per share at the market close on Friday.

Portfolio Pulse from Jelena Martinovic

August 14, 2023 | 2:05 pm

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Elbit Systems (NASDAQ:ESLT) is set to release its latest quarterly earnings report on Tuesday, 2023-08-15. Analysts estimate an earnings per share (EPS) of $1.53. Last quarter, the company missed EPS by $0.03, which was followed by a 0.39% increase in the share price. Shares of Elbit Systems were trading at $209.18 as of August 11, with a 52-week return of -6.81%.

Portfolio Pulse from Benzinga Insights

August 14, 2023 | 2:01 pm

TME

Tencent Music Enter Gr (NYSE:TME) is set to release its latest quarterly earnings report on Tuesday, 2023-08-15. Analysts estimate an earnings per share (EPS) of $0.14. The company's past performance shows it beat EPS by $0.02 last quarter, leading to an 8.34% increase in share price the next day. Shares of Tencent Music Enter Gr were trading at $6.09 as of August 11, with a 27.3% increase over the last 52-week period.

Portfolio Pulse from Benzinga Insights

August 14, 2023 | 2:00 pm

SE

Sea (NYSE:SE) is set to release its latest quarterly earnings report on August 15, 2023. Analysts estimate an earnings per share (EPS) of $0.42. Last quarter, the company missed EPS by $0.04, resulting in a 0.08% drop in share price. Sea's shares were trading at $57.62 as of August 11, with a 27.33% decrease over the last 52-week period.

Portfolio Pulse from Benzinga Insights

August 14, 2023 | 2:00 pm

CAH

Cardinal Health (NYSE:CAH) is set to release its latest quarterly earnings report on Tuesday, 2023-08-15. Analysts estimate an earnings per share (EPS) of $1.49. The company's past performance shows a trend of beating EPS estimates and subsequent increases in share price. Shares of Cardinal Health were trading at $92.38 as of August 11, with a 52-week increase of 32.33%.

Portfolio Pulse from Benzinga Insights

August 14, 2023 | 2:00 pm

ERJ

Embraer SA (NYSE:ERJ) reported Q2 FY23 revenue of $1.292 billion, a 27% Y/Y increase, beating the consensus of $1.162 billion. The company delivered 47 jets in Q2, a 47% Y/Y increase, and reaffirmed its FY23 outlook. However, ERJ shares are trading lower by 4.55% at $14.28.

Portfolio Pulse from Lekha Gupta

August 14, 2023 | 1:59 pm

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U.S. stocks traded mostly lower with the Dow Jones falling around 50 points. Monday.com Ltd reported better-than-expected earnings for its second quarter and raised its 2023 revenue guidance. Zynerba Pharmaceuticals, Taysha Gene Therapies, and TMC the metals company saw their shares rise significantly. BioXcel Therapeutics, Hawaiian Electric Industries, and AMC Entertainment Holdings saw their shares drop significantly.

Portfolio Pulse from Lisa Levin

August 14, 2023 | 1:57 pm

AAPL

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QCOM

Chinese tech giant Huawei reported a modest growth in its consumer business amid U.S. sanctions and slower economic recovery. The company's overall revenue rose 4.8% YoY to 178.8 billion yuan in Q2, with consumer business revenue growing only 2.2% YoY to 103.5 billion yuan in H1. Huawei's ICT infrastructure business was the biggest revenue contributor. The company also reported revenue from its EV business and AI model. Despite a struggling smartphone market, Huawei expects its flagship consumer products to return to normalcy this year.

Portfolio Pulse from Upwallstreet

August 14, 2023 | 1:48 pm

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The American Psychedelic Practitioners Association and BrainFutures have published the first-ever professional practice guidelines for psychedelic-assisted therapy. Algernon NeuroScience, a subsidiary of Algernon Pharmaceuticals, has finalized its clinical trial design for a phase 2 DMT stroke study. Atai Life Sciences, MindMed, and COMPASS Pathways have reported their Q2 2023 financial results. AdvisorShares Psychedelics ETF has seen a decrease in its weekly performance.

Portfolio Pulse from Lara Goldstein

August 14, 2023 | 1:47 pm

TMC

The Metals Company Inc (NYSE:TMC) announced a registered direct offering at $2 per share, an 82% premium to the stock's closing price on Aug. 11. The offering is led by ERAS Capital, Allseas, and several institutional investors. The transaction includes one warrant for every two common shares purchased with a strike price of $3 per share. The gross proceeds are expected to be approximately $27 million. TMC also provided a Q2 update, anticipating a net loss of $14.1 million. Post-offering, TMC believes it will have sufficient capital for at least the next year.

Portfolio Pulse from Adam Eckert

August 14, 2023 | 1:39 pm