Streetbeat News

Earnings

EGO

Eldorado Gold Corporation has provided updates on the tax impacts in Turkey due to the weakening of the Turkish Lira. The company expects the Turkish current income tax expense on mining profits to decrease by up to $3 million in Q3, primarily due to reductions from the investment tax credit relating to Kisladag and Efemcukuru, increased depreciation impact of revaluated fixed assets and certain legislated discounts to the enacted rate. However, an incremental current tax charge of approximately $6.2 million will be recognized in Q3 and Q4 2023 due to the enacted rate change.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 9:10 pm

VWE

Vintage Vine Estates (VWE) has updated its fiscal 2024 outlook, expecting revenues of $260M-$270M, up from the previous estimate of $255.22M. The company attributes this to its restructuring and Five-Point Plan. Gross margin is expected to be around 38%, an 800 basis point improvement on lower volume. SG&A is expected to be around $98M, excluding restructuring costs. The company also expects to face restructuring charges of $5M-$6M.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 8:54 pm

VWE

Vintage Wine Estates (NASDAQ:VWE) reported Q4 losses of $(0.24) per share, missing the analyst consensus estimate of $(0.09) by 166.67%. This is a 241.18% decrease over earnings of $0.17 per share from the same period last year. The company also reported quarterly sales of $62.10 million, missing the analyst consensus estimate of $66.87 million by 7.13%. This is a 17.79% decrease over sales of $75.54 million the same period last year.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 8:53 pm

SDIG

Stronghold Digital Mining has projected its Bitcoin production for October 2023 to be between 205-215 Bitcoin, excluding any electricity sales. The company also anticipates over 20% average hash rate growth in Q4 of 2023 compared to Q3 of 2023.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 8:36 pm

SDIG

Stronghold Digital Mining, Inc. (NASDAQ:SDIG) announced that it mined 196 Bitcoin in September 2023, generating approximately $0.2 million in energy revenue. The company experienced an unplanned outage at its Scrubgrass power plant, affecting operations. However, it achieved an all-time-high hash rate of 3.5 exahash per second by the end of the month. Stronghold also entered into a Managed Services Agreement with Frontier Mining to optimize its data centers.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 8:35 pm

PFE

Pfizer has revised its FY23 adjusted diluted EPS guidance to $1.45-$1.65, down from the original range of $3.25-$3.45. The company also anticipates full-year 2023 revenues to be $58.0 to $61.0 billion, a decrease from the previous guidance of $67.0 to $70.0 billion. This is due to lower-than-expected revenues from its COVID products, Paxlovid and Comirnaty. Pfizer also recorded a non-cash charge of $5.5 billion due to inventory write-offs for these products. However, the company expects to deliver approximately $1.0 billion in savings in 2023 through its cost realignment program.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 8:34 pm

CME

GLD

MSFT

USO

XLE

XOM

The escalating Israel-Hamas conflict, rising inflation, and surging oil prices have shaken global markets. The conflict could disrupt global oil supplies, as the Middle East accounts for about one-third of global oil production. In the US, inflation figures exceeded expectations, with the Producer Price Index surging 2.2% YoY and the Consumer Price Index inflation rising by 3.7% YoY. This has led to a spike in 30-year mortgage rates and a dip in consumer sentiment. Despite this, the Fed signals another rate hike is still possible. M&A activity picked up with Exxon Mobil acquiring Pioneer Resources and Microsoft purchasing Activision Blizzard. The week also saw strong Q3 earnings from major banks.

Portfolio Pulse from Piero Cingari

October 13, 2023 | 8:33 pm

PDEX

Pro-Dex (NASDAQ:PDEX) reported Q4 earnings of $0.42 per share, beating the analyst consensus estimate of $0.33 by 27.27%. This represents a 10.53% increase over earnings from the same period last year.

Portfolio Pulse from Happy Mohamed

October 13, 2023 | 8:06 pm

HIFS

Hingham Institution (NASDAQ:HIFS) reported a significant decrease in its Q3 earnings, with EPS of $1.32, down 79.94% from $6.58 YoY.

Portfolio Pulse from Happy Mohamed

October 13, 2023 | 8:04 pm

SGH

Stifel analyst Brian Chin reiterated a Buy rating on SMART Global Holdings, Inc. (NASDAQ:SGH), but lowered the price target to $26 from $32. The company reported Q4 earnings of $0.35 per share, missing the analyst consensus estimate of $0.45. The analyst lowered FY24 EPS to $1.05 from $2.50 and revenue to $1.22 billion from $1.76 billion. SGH shares are trading lower by 43.99% to $13.21.

Portfolio Pulse from Nabaparna Bhattacharya

October 13, 2023 | 7:49 pm