Streetbeat News

Earnings

ERJ

Embraer (NYSE:ERJ) is set to release its quarterly earnings report on August 14, 2023. Analysts estimate an earnings per share (EPS) of $0.12. The company's past performance shows a mixed trend of beating and missing EPS estimates, which has led to varying impacts on the share price. Embraer's shares were trading at $14.76 as of August 10, with a 26.16% increase over the last 52-week period.

Portfolio Pulse from Benzinga Insights

August 11, 2023 | 2:00 pm

GME

WeWork Inc's stock gained over 35% on Friday, triggering speculation of it becoming the latest meme stock like GameStop. The r/WallStreetBets community is rallying behind the stock. WeWork reported dismal Q2 financial results this week, with a loss of 21 cents per share and revenues of $844.00 million, both missing consensus estimates. The session volume crossed the 63 million mark vs. the average 100-day volume of 34 million.

Portfolio Pulse from Anusuya Lahiri

August 11, 2023 | 1:51 pm

AMRS

CANO

JYNT

TSAT

YTEN

U.S. stocks traded lower following the release of PPI data, with the NASDAQ falling 0.84%. Producer prices in the U.S. increased 0.3% month-over-month in July, the biggest rise since January. Amyris, Inc. (AMRS) shares shot up 97% after filing for Chapter 11 bankruptcy. Telesat Corporation (TSAT) shares rose 48% after reporting Q2 results and a $2.1 billion deal with MDA. WeWork Inc. (WE) shares gained 43% despite doubts over its ability to stay in business. Yield10 Bioscience, Inc. (YTEN) shares dropped 58% after announcing a $3.7 million public offering. Cano Health, Inc. (CANO) shares were down 59% after reporting worse-than-expected Q2 results and expressing doubt over its ability to continue as a going concern. The Joint Corp. (JYNT) shares fell 26% after reporting Q2 operating highlights.

Portfolio Pulse from Lisa Levin

August 11, 2023 | 1:48 pm

MAR

Marriott International's Q2 earnings surpassed analyst predictions, with earnings per share of $2.26 and a quarterly revenue of $6.1 billion. The company has consistently exceeded market expectations since Q3 of June 2020, with its stock price surging by 142% over the past year. Despite significant fluctuations in 2022, the stock made a comeback, surpassing the $200 mark in July 2023.

Portfolio Pulse from Zaheer Anwari

August 11, 2023 | 1:33 pm

RBLX

Roblox Corp (RBLX) has launched Roblox Career Center, a virtual hub for early-career candidates to explore the company's work environment. The move comes as part of the company's recruitment efforts, which also included the 2020 acquisition of cognitive assessment firm Imbellus. Roblox recently reported Q2 FY23 bookings growth of 22% YoY to $780.7 million, but missed consensus on top line and EPS. RBLX shares traded lower by 0.85% premarket on the last check Friday.

Portfolio Pulse from Anusuya Lahiri

August 11, 2023 | 1:29 pm

AMZN

RIVN

TSLA

Rivian Automotive Inc (RIVN) posted better than expected Q2 results, with a narrower loss and increased production guidance. The company's stock has risen 80% over the past 90 days. Rivian made $1.12 billion in revenue, topping Refinitiv’s consensus estimate of $1 billion. The company delivered 12,640 EVs, a 59% increase compared to Q1. Rivian also raised its 2023 production outlook to 52,000 EVs, double its 2022 output. The company's CEO assured investors that liquidity is covered through 2025.

Portfolio Pulse from Upwallstreet

August 11, 2023 | 1:26 pm

SPB

Spectrum Brands Holdings Inc (NYSE:SPB) reported a Q2 2023 sales decline of 10.1% year-on-year to $735.5 million, missing the analyst consensus estimate of $780.97 million. Gross profit decreased 4.5% Y/Y to $263.5 million, and the operating loss for the quarter was $124.7 million. However, adjusted EBITDA increased 23%, and adjusted EPS of $0.75 beat the analyst consensus estimate of $0.57. The company reiterated FY23 sales outlook of mid-single digit decline.

Portfolio Pulse from Shivani Kumaresan

August 11, 2023 | 1:26 pm

SSIC

Silver Spike Investment Corp. (NASDAQ:SSIC) reported Q2 2023 financial results, with total investment income of $2.9 million, a 257% YoY increase. The company also declared a cash dividend of $0.63 per share, payable on September 29, 2023. The company's shares were trading 8.15% higher at $9.49 during Friday's pre-market session.

Portfolio Pulse from Vuk Zdinjak

August 11, 2023 | 1:21 pm

ACCO

HNI

MMM

Three industrial stocks with over 3% dividend yields have been highlighted by Wall Street's most accurate analysts. These include 3M Company (MMM) with a dividend yield of 5.78%, ACCO Brands Corporation (ACCO) with a yield of 5.19%, and HNI Corporation (HNI) with a yield of 3.94%. All three companies have recently reported better-than-expected Q2 results.

Portfolio Pulse from Lisa Levin

August 11, 2023 | 1:15 pm

CWCO

Consolidated Water (NASDAQ:CWCO) reported a Q2 2023 revenue increase of 110% YoY to $44.2 million, beating estimates of $30.27 million. Retail revenue grew 16%, services jumped 377% YoY, and manufacturing increased to $4.1 million. EPS was 47 cents (+178% YoY), beating the consensus of $0.22. The company also signed a $204 million contract to design, build, operate, and maintain a seawater desalination plant in Hawaii. CWCO shares are trading higher by 6.61% at $21.66 premarket on Friday.

Portfolio Pulse from Akanksha Bakshi

August 11, 2023 | 1:12 pm