Streetbeat News

Earnings

HBI

HanesBrands Inc reported a 5% YoY decline in Q2 2023 sales to $1.44 billion, missing the analyst consensus estimate of $1.46 billion. The company's Innerwear sales increased 3% YoY, while Activewear sales declined 19%. Global Champion brand sales decreased 16%. The company's gross margin contracted 430 basis points YoY to 33.5%. HanesBrands expects 2023 sales of $5.8 billion to $5.9 billion, lower than the estimate of $6.05 billion. HBI shares are trading lower by 3.1%.

Portfolio Pulse from Shivani Kumaresan

August 10, 2023 | 2:53 pm

HCANF

Halo Collective Inc. reported a 32% decrease in FY22 revenue to $24.5M, compared to $36.2M in FY21. Despite the decline, the company saw improvements in gross profit and margins. The decrease in revenue was primarily attributed to pricing challenges in the cannabis markets of Oregon and California. The company is focusing on optimizing operations and product mix to drive long-term growth.

Portfolio Pulse from Vuk Zdinjak

August 10, 2023 | 2:53 pm

ASB

CMA

HSBC

OPHC

VBFC

The article identifies five value stocks in the financial services sector: Comerica (CMA), Village Bank & Trust Finl (VBFC), Associated Banc (ASB), HSBC Holdings (HSBC), and OptimumBank Hldgs (OPHC). All these companies have low P/E multiples, indicating they may be undervalued. However, all of them have also reported a decrease in earnings per share and dividend yield in the most recent quarter.

Portfolio Pulse from Benzinga Insights

August 10, 2023 | 2:49 pm

TAST

Carrols Restaurant Group, Inc. (NASDAQ:TAST) reported Q2 FY23 sales growth of 9.8% YoY to $485.22 million, beating the consensus of $475.23 million. Adjusted EPS of $0.27 beat the analyst consensus of $0.02. The company's Burger King and Popeyes restaurants saw comparable sales increase by 10.4% and 11.6% respectively. The company's net debt totaled $435.89 million at the end of the quarter.

Portfolio Pulse from Nabaparna Bhattacharya

August 10, 2023 | 2:46 pm

CLSK

CleanSpark, Inc. (NASDAQ:CLSK) reported Q3 losses of 12 cents per share, beating the analyst consensus estimate of a loss of 17 cents per share. However, the company missed the analyst consensus estimate of $45.71 million in sales, reporting $45.52 million instead. CleanSpark's CEO announced that the company operates over 9 EH/s of efficient computing power and has over $90 million in cash and almost 1,200 bitcoins on its balance sheet. HC Wainwright & Co. analyst Mike Colonnese maintained a Buy rating on CleanSpark and raised the price target from $12 to $14.

Portfolio Pulse from Erica Kollmann

August 10, 2023 | 2:41 pm

CLSK

Cleanspark reported better-than-expected Q3 EPS results, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

August 10, 2023 | 2:41 pm

APP

CPRI

HLLY

MGNX

PGEN

YETI

Several US stocks recorded gains in Thursday's session, with Capri Holdings Limited (CPRI) surging 56.1% after Tapestry announced a definitive agreement to acquire the company. Other notable gainers include Holley Inc. (HLLY), MacroGenics, Inc. (MGNX), YETI Holdings, Inc. (YETI), AppLovin Corporation (APP), and Precigen, Inc. (PGEN). Most of these companies reported better-than-expected Q2 results or raised their FY23 outlook.

Portfolio Pulse from Lisa Levin

August 10, 2023 | 2:39 pm

AMPY

FANG

GLP

NOG

The article lists five value stocks in the energy sector, which are traditionally undervalued. The stocks are Global Partners (GLP), Amplify Energy (AMPY), Northern Oil & Gas (NOG), Eni (E), and Diamondback Energy (FANG). All companies have reported their Q2 earnings per share and dividend yields, with most showing a decrease from Q1.

Portfolio Pulse from Benzinga Insights

August 10, 2023 | 2:39 pm

MUX

McEwen Mining Inc (MUX) reported a Q2 2023 adjusted net loss of $(0.31) per share, beating the consensus loss of $(0.74). Revenue from gold and silver sales was $34.4 million, missing the consensus of $40.0 million. The company reported a gross loss due to lower grades and longer recovery times at its Gold Bar mine operations. Cash and equivalents stood at $84.8 million, and total debt was $40.0 million at the end of Q2 2023. MUX shares are trading lower by 0.28% at $7.24.

Portfolio Pulse from Lekha Gupta

August 10, 2023 | 2:34 pm

BIDU

Shares of Baidu Inc (NASDAQ:BIDU) are trading higher by 3.5% to $147.96, in sympathy with Alibaba Group Holding's better-than-expected Q1 FY23 financial results. Alibaba reported a 14% YoY growth in revenue to $32.29 billion, surpassing the consensus of $31.20 billion. Baidu has a 52-week high of $67.87 and a 52-week low of $31.56.

Portfolio Pulse from Henry Khederian

August 10, 2023 | 2:29 pm