Streetbeat News

Earnings

QMCO

Quantum Corporation has revised its Q2 and FY24 guidance downwards. For Q2, it now expects revenues of $80M and a net loss per share of $0.04. For FY24, it expects revenues of $360M and a net loss per share of $0.06. The company attributes the decline to more pronounced declines in its hyperscale and media businesses and the potential impact of a prolonged entertainment work stoppage. Despite the revenue headwinds, the company's gross margins are improving due to a higher revenue contribution from Primary Storage and non-hyperscale Secondary Storage customers.

Portfolio Pulse from Happy Mohamed

August 08, 2023 | 11:48 am

WHF

WhiteHorse Finance (NASDAQ:WHF) reported Q2 earnings of $0.46 per share, missing the analyst consensus estimate by 0.87 percent, but marking a 36.53 percent increase YoY. The company's quarterly sales of $25.59 million beat the estimate by 0.10 percent, a 27.98 percent increase YoY.

Portfolio Pulse from saritha@benzinga.com

August 08, 2023 | 11:47 am

ABEO

Abeona Therapeutics reported Q2 losses of $(0.92) per share, a 32.35% improvement from the $(1.36) per share loss reported in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 11:46 am

PLTR

Palantir Technologies, Inc. (NYSE:PLTR) shares fell in premarket trading despite reporting Q2 earnings and revenue in line with consensus estimates and raising full-year revenue guidance. The company also reported profitability for a third straight quarter. The stock's negative reaction could be due to broader market weakness, failure to outperform in Q2, and slowdown in the growth of the government segment. Wedbush analyst Daniel Ives maintained an Outperform rating and a $25 price target, while DA Davidson nearly doubled its price target from $8.5 to $15.

Portfolio Pulse from Shanthi Rexaline

August 08, 2023 | 11:45 am

QMCO

Quantum (NASDAQ:QMCO) reported Q1 losses of $(0.05) per share, missing the analyst consensus estimate of $(0.01) by 400%. The company also reported quarterly sales of $91.79 million, missing the analyst consensus estimate of $97.03 million by 5.40%. This represents a decrease in both earnings and sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 11:44 am

SCU

Sculptor Cap (NYSE:SCU) reported Q2 earnings of $0.00 per share, missing the analyst consensus estimate of $0.25 by 99.6%. This is a 99.82% decrease from the same period last year. The company also reported quarterly sales of $68.30 million, missing the analyst consensus estimate of $76.78 million by 11.04%. This is a 39.29% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 11:44 am

CRMD

Cormedix reported Q2 losses of $(0.25) per share, missing the analyst consensus estimate of $(0.24) by 4.17 percent. This represents a 31.58 percent increase in losses compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 11:42 am

LCID

Lucid Motors CEO Peter Rawlinson discussed the company's pricing strategy during the second-quarter earnings call. He highlighted the importance of getting more vehicles on the roads to build customer confidence. Lucid recently lowered vehicle prices and received positive feedback. The company plans to make 10,000 vehicles in 2023 and expects deliveries to increase in the second half of the year. Last week, Lucid cut the prices of its Air sedans by as much as $12,400.

Portfolio Pulse from Anan Ashraf

August 08, 2023 | 11:40 am

NRGV

Energy Vault has reaffirmed its FY23 outlook, expecting revenues between $325M and $425M, compared to the estimated $377.31M. The company also anticipates an adjusted EBITDA between $(50)M and $(70)M.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 11:39 am

HNI

HNI Corp expects Q3 2023 adjusted EPS to be slightly lower than Q3 2022 due to lower volume in Residential Building Products and normalization of variable compensation, partially offset by higher profitability in Workplace Furnishings. The company also expects the Kimball International acquisition to add $340 to $370 million of revenue and be solidly accretive to non-GAAP EPS in 2023, with the greatest benefit in Q4. The divestiture of Poppin is expected to be completed in Q3 2023, generating an operating loss of $3.5 to $4.0 million and revenue of $7 to $9 million.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 11:39 am