Streetbeat News

Earnings

OGN

Organon (NYSE:OGN) reported Q2 earnings of $1.31 per share, beating the analyst consensus estimate of $0.97 by 35.05%. This is a 4.8% increase from the same period last year. The company also reported quarterly sales of $1.61 billion, beating the analyst consensus estimate of $1.56 billion by 3.01%. This is a 1.45% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 11:31 am

BLUE

bluebird bio has reported a Q2 cash position of $291M, which is expected to provide a cash runway into Q4 2024. The company anticipates a FY23 cash burn of $270M-$300M.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 11:28 am

IHRT

iHeartMedia has projected a mid-single digit decline in its Q3 consolidated revenue. The company also expects its consolidated adjusted EBITDA to be between $195M and $205M.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 11:27 am

NEO

NeoGenomics has updated its FY23 revenue forecast to $565M-$575M, up from the previous estimate of $555M-$565M. However, the company also predicts a net loss of $107M-$100M.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 11:27 am

QQQ

SPY

US stocks are expected to pull back due to inflation anxieties. The earnings news flow is likely to drive the market, with oil's pullback and upcoming US inflation data keeping the mood cautious. Analysts from LPL Financial suggest a mild recession is likely within the next six to nine months. They recommend a neutral tactical allocation to equities, favoring developed international equities over emerging markets and large caps over small caps. In premarket trading, the SPDR S&P 500 ETF Trust and the Invesco QQQ ETF fell. Several companies including Lucid Group, Paramount Global, Chegg, Beyond Meat, Eli Lilly, Fox Corp, Expeditors International of Washington, GlobalFoundries, Novavax, UPS, Warner Music Group, Akamai Technologies, Rivian Automotive, Twilio, Upstart Holdings, and Lyft are in focus due to their earnings reports.

Portfolio Pulse from Shanthi Rexaline

August 08, 2023 | 11:26 am

TGLS

Tecnoglass Inc. has raised its FY23 revenue forecast to $830M-$855M, compared to the consensus of $845.83M. The company also increased its Adjusted EBITDA forecast to a range of $320M-$335M, implying a growth of approximately 23% at the midpoint.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 11:25 am

ARVN

Arvinas (NASDAQ:ARVN) reported Q2 earnings per share of $(1.25), beating the analyst consensus estimate of $(1.65) by 24.24%. This is a 5.3% increase over losses from the same period last year. The company also reported quarterly sales of $54.50 million, beating the analyst consensus estimate of $29.40 million by 85.37%. This is a 61.24% increase over sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 11:25 am

NFE

New Fortress Energy has revised its FY23 illustrative adjusted EBITDA guidance to $1.6 billion, while reaffirming its FY24 adjusted EBITDA at $2.4 billion.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 11:25 am

TRDA

Entrada Therapeutics reported Q2 losses of $(0.78) per share, a 5.41% decrease YoY. The company has $377M in cash, cash equivalents, and marketable securities, providing a cash runway through 2025.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 11:24 am

VIGL

Vigil Neuroscience (NASDAQ:VIGL) reported Q2 losses of $(0.52) per share, a 13.33% improvement from $(0.60) per share losses in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 11:24 am