Streetbeat News

Earnings

GMAB

Genmab A/S (NASDAQ:GMAB) announced Q3 net sales of $2.5B for DARZALEX (daratumumab), including sales of the subcutaneous product sold under the tradename DARZALEX FASPRO in the U.S. The sales were reported by Johnson & Johnson, with $1.37B in the U.S. and $1.13B in the rest of the world. Genmab receives royalties on the worldwide net sales of DARZALEX under the exclusive worldwide license to Janssen.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 10:29 am

JNJ

Johnson & Johnson has revised its FY23 adjusted EPS forecast to $10.07-$10.13, up from the previous range of $10.00-$10.10. This new estimate surpasses the consensus of $10.03.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 10:29 am

JNJ

Johnson & Johnson has updated its FY23 sales forecast to a range of $83.6B-$84.0B, up from the previous range of $83.2B-$84.0B. However, this is still below the consensus estimate of $84.53B.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 10:27 am

AMAM

EDIT

ERIC

NOK

NTCT

OBDC

SPWR

Several stocks including NetScout Systems, Ambrx Biopharma, Ericsson, SunPower Corporation, Nokia, Editas Medicine, and Blue Owl Capital Corporation recorded losses in Tuesday's pre-market trading session. NetScout Systems reported weak preliminary results for Q2 and lowered its FY24 guidance, causing its shares to dip 23%. Ambrx Biopharma's shares declined after announcing updated safety and efficacy data from an ongoing trial. Ericsson reported downbeat Q3 sales, leading to a fall in its shares.

Portfolio Pulse from Lisa Levin

October 17, 2023 | 10:25 am

JNJ

Johnson & Johnson (NYSE:JNJ) reported Q3 earnings of $2.66 per share, beating the analyst consensus estimate of $2.51 by 5.98%. This is a 19.28% increase from the same period last year. The company also reported quarterly sales of $21.35 billion, beating the analyst consensus estimate of $21.04 billion by 1.48%. This is a 6.78% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 10:22 am

NTCT

NetScout Systems Inc (NASDAQ:NTCT) shares dropped by 23% after the company posted its Q2 FY24 preliminary results and lowered its FY24 outlook. The company's Q2 revenue is expected to be $195 million-$197 million, lower than the consensus of $223.56 million. The FY24 outlook was also reduced due to industry and economic headwinds. The company is taking initiatives to manage costs and align spending with the current environment.

Portfolio Pulse from Lekha Gupta

October 17, 2023 | 9:55 am

ADTN

ADTRAN Holdings, Inc. (NASDAQ:ADTN) reported Q3 preliminary results, with revenue at $272.3 million, below the prior guidance range of $275 million-$305 million and analysts' consensus estimate of $288.18 million. The strengthened U.S. dollar negatively impacted revenue generated outside of the U.S. The company's Q3 preliminary GAAP operating margin was -30.2% and non-GAAP operating margin was -1.9%. ADTRAN added new customers in Europe and the U.S. in Q3, but expects customers to manage their inventories conservatively in Q4 due to the changed economic environment.

Portfolio Pulse from Nabaparna Bhattacharya

October 17, 2023 | 9:44 am

MBWM

Mercantile Bank (NASDAQ:MBWM) reported Q3 earnings of $1.30 per share, beating the analyst consensus estimate of $1.16 by 12.07%. This is a 28.71% increase from the same period last year. The company also reported quarterly sales of $58.20 million, beating the analyst consensus estimate of $53.31 million by 9.17%. This is a 17.27% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 9:04 am

ERIC

Ericsson has announced that it expects lower than normal seasonality in sales between Q3 and Q4 for its Networks and Cloud Software and Services. The company also expects its Q4 EBITA margin to be 10%.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 8:57 am

ERIC

Telefonaktiebolaget L M (NASDAQ:ERIC) reported Q3 earnings of $0.07 per share, meeting analyst consensus. This is a 56.25% decrease from last year's earnings. The company's quarterly sales of $5.96 billion missed the analyst consensus of $6.27 billion by 4.90%, a 7.68% decrease from last year.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 8:50 am