Streetbeat News

Earnings

BBY

Best Buy's CEO, Corie Barry, has attributed the company's slower sales to the 'funflation' economy, where consumers are spending more on experiences rather than on big-ticket electronics. The trend, which has seen a decrease in sales for Best Buy's televisions and PCs, is also affecting other sectors including appliances, pet supplies, and home improvement. Despite this, Barry remains optimistic about the future of Best Buy due to continuous innovation in the industry.

Portfolio Pulse from Benzinga Neuro

October 13, 2023 | 3:43 am

CMTL

SGH

WTO

Several Information Technology stocks experienced significant movement in Thursday's after-market session. Gainers included UTime (WTO), Comtech Telecom (CMTL), Oblong (OBLG), Intrusion (INTZ), Stronghold Digital Mining (SDIG), and AEye (LIDR). Losers included SMART Glb Hldgs (SGH), Belden (BDC), SMX (Security Matters) (SMX), ComSovereign Holding (COMS), AgileThought (AGIL), and Taoping (TAOP). Q4 earnings reports for Comtech Telecom and SMART Glb Hldgs were released.

Portfolio Pulse from Benzinga Insights

October 12, 2023 | 9:31 pm

RAD

Rite Aid Corp expects to report a significant increase in net loss for the quarter ended September 2, 2023, and a significant increase in its outstanding debt for the same quarter, compared to the corresponding quarter ended August 27, 2022.

Portfolio Pulse from Charles Gross

October 12, 2023 | 9:31 pm

BDC

Belden has revised its Q3 adjusted EPS forecast to $1.75-$1.77 from the previous $1.75-$1.85, which is lower than the estimated $1.82. The company also reduced its revenue projection to approximately $625M from the earlier $675M-$690M, against the estimated $685.19M.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 8:50 pm

CCEL

Cryo-Cell International (NASDAQ:CCEL) reported Q3 earnings of $0.08 per share, a 33.33% increase from the same period last year. The company's quarterly sales of $7.87 million beat the analyst consensus estimate of $7.77 million by 1.29%, marking a 2.21% increase over sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 8:49 pm

TTOO

T2 Biosystems, Inc. (NASDAQ:TTOO) shares fell in after-hours trading following the company's announcement of preliminary Q3 results. The company reported a 60% decrease in total revenue compared to the same period last year, mainly due to a $1.0 million decline in BARDA revenue. The company also announced FDA 510(k) clearance for the T2Biothreat Panel and 510(k) submission for Acinetobacter baumannii detection. The stock price drop follows a 43.9% decrease during regular trading due to a reverse stock split.

Portfolio Pulse from Ryan Gustafson

October 12, 2023 | 8:46 pm

DG

Dollar General Corp (NYSE:DG) shares are trading higher after the company updated its outlook and appointed a new CEO. The company now expects net sales growth to be between 1.5% and 2.5% for fiscal-year 2023, and earnings are expected to be in the range of $7.10 to $7.60 per share. Former CEO Todd Vasos has been selected to take over the role of CEO after Jeff Owen's resignation.

Portfolio Pulse from Adam Eckert

October 12, 2023 | 8:42 pm

OM

Outset Medical has reported its preliminary Q3 financial results, which has led to a decrease in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 8:36 pm

OM

Outset Medical, Inc. (NASDAQ:OM) reported preliminary Q3 2023 financial results, with revenue of $30.4M, a 9% increase YoY. The company's total cash, including restricted cash, cash equivalents, and short-term investments, was $197M as of Sept. 30, 2023. However, growth in the quarter was affected by the recent FDA warning letter and a cautious outlook on capital spending. The company remains confident about generating sustained long-term growth and reaching profitability.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 8:34 pm

IDT

IDT Corporation (NYSE:IDT) reported Q4 earnings of $0.36 per share, a 46.27% decrease from the same period last year. Sales also decreased by 7.60% to $304.00 million compared to $329.00 million last year.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 8:33 pm