Streetbeat News

Earnings

IBB

NVO

Novo Nordisk A/S (NYSE:NVO) reported a 29% increase in first-half sales and a 43% increase in net profit, largely due to a 367% increase in sales of its weight-loss drug Wegovy. Despite these positive results, the stock fell by 2.9% due to strong gains made earlier in the week. Year-to-date, NVO's stock is up over 35%, outperforming the S&P 500 Index's 16.3% gain and the iShares Biotechnology ETF's (NASDAQ:IBB) 2.01% decline.

Portfolio Pulse from Shanthi Rexaline

August 12, 2023 | 7:31 pm

TWOU

Ark Invest, led by Cathie Wood, acquired over 1 million shares of online education platform 2U Inc (NASDAQ:TWOU). The acquisition was divided among three of Ark's ETFs, with the majority secured through Ark Innovation. However, 2U's stock has been on a downward trend, reaching a low of $13.15 over 52 weeks. The stock plunged by 24% following an underwhelming earnings report, with an 8% decline in revenue compared to the previous year.

Portfolio Pulse from Bibhu Pattnaik

August 12, 2023 | 5:28 pm

GOOGL

LCID

NIO

RIVN

TSLA

The week ending August 1 saw a downturn in electric vehicle (EV) stocks due to inflation worries and earnings news. Key events included the resignation of Tesla's CFO Zachary Kirkhorn, PepsiCo's endorsement of Tesla's Semi, and Elon Musk's announcement of a 'mind-blowing' full-self driving software update. General Motors' pricing strategy for its new Cadillac EV was criticized, while Rivian and Lucid reported earnings. GM's Cruise and Alphabet's Waymo received approval for expanded driverless operations in San Francisco. Nio denied rumors of a partnership with Mercedes-Benz.

Portfolio Pulse from Shanthi Rexaline

August 12, 2023 | 1:30 pm

NVDA

Nvidia Corp. (NASDAQ:NVDA) shares have surged 180% this year, pushing its market value beyond $1 trillion and its price-to-earnings ratio to 220. The surge is attributed to Nvidia's leading role in the development of AI chips and software, with its H100 chips being bought in large quantities by major players like Microsoft and OpenAI. Despite high growth assumptions, analysts expect Nvidia to report a quarterly revenue of $11.08 billion, a 65% increase from the previous year.

Portfolio Pulse from Benzinga Neuro

August 12, 2023 | 2:32 am

ENS

PTRA

SPIR

TORO

Several industrial stocks experienced significant movement in Friday's after-market session. Gainers included Spire Global, Proterra, SOS, Recruiter.Com Group, EnerSys, and Addentax Group. Losers included WANG & LEE Group, Singularity Future Tech, Gaucho Group Holdings, Momentus, TOMI Environmental Solns, and Toro. Several companies had recently released their Q2 earnings.

Portfolio Pulse from Benzinga Insights

August 11, 2023 | 9:32 pm

ALPP

BLIN

SPI

Several information technology stocks experienced significant movement in Friday's after-market session. SPI Energy, Alpine 4 Holdings, BIO-key Intl, Tuya, Cepton, and Mawson Infra Gr saw gains, while Bridgeline Digital, GSE Systems, Airspan Networks Hldgs, MicroCloud Hologram, Rackspace Tech, and Actelis Networks experienced losses. Several companies released their Q2 earnings reports.

Portfolio Pulse from Benzinga Insights

August 11, 2023 | 9:31 pm

SACH

Sachem Cap (AMEX:SACH) is set to release its latest quarterly earnings report on August 14, 2023. Analysts estimate an earnings per share (EPS) of $0.10. The company's past performance shows a mixed trend of beating and missing EPS estimates, which has led to varying stock price changes. The company's shares are currently trading at $3.41 and have seen a 31.15% decrease over the last 52-week period.

Portfolio Pulse from Benzinga Insights

August 11, 2023 | 9:00 pm

AIRT

Air T reported Q1 losses of $0.19 per share, a 62% improvement from the same period last year. The company also reported a 40.28% increase in sales to $71.40 million.

Portfolio Pulse from Benzinga Newsdesk

August 11, 2023 | 8:41 pm

AGBA

AGBA Group Holding reported its Q2 revenue of $17M, marking a 325% increase year-over-year.

Portfolio Pulse from Benzinga Newsdesk

August 11, 2023 | 8:38 pm

AMC

DIS

PENN

PLUG

RIVN

The S&P 500 and Nasdaq Composite saw losses while the Dow Jones gained. July's consumer price index rose to 3.2% in annual inflation, below market expectations. Stifel's Chief Equity Strategist predicts a flat market for the rest of the year. Penn Entertainment Inc announced an exclusive sports betting deal with ESPN, causing a 20% spike in shares, but ended the week with a 4.47% loss. Disney reported a mixed third quarter, with revenue growing 4% annually but below analyst expectations. AMC Entertainment Holdings ended the week 4.37% higher after reporting earnings. Rivian Automotive Inc lost more than 16% of its value this week after reporting losses. Plug Power Inc shares tanked 20.78% despite better-than-expected quarterly results. Canopy Growth, Curaleaf Holdings, and Aurora Cannabis Inc all saw losses after reporting earnings.

Portfolio Pulse from Natan Ponieman

August 11, 2023 | 8:37 pm