Streetbeat News

Earnings

QCOM

Qualcomm Inc's shares are trading lower by 2.8% due to continued weakness after the company reported a third-quarter revenue miss and issued guidance below consensus estimates. The company reported a 23% YoY decrease in third-quarter revenue, slightly missing the Street estimate. However, the company's earnings per share beat the Street estimate.

Portfolio Pulse from Henry Khederian

August 07, 2023 | 6:01 pm

SEDG

SolarEdge Technologies (NASDAQ:SEDG) shares are trading lower by roughly 1.16% to $180.52. The stock has dropped by 24% over the past five sessions following the company's weak third-quarter guidance. Despite reporting better-than-expected Q2 earnings and sales, the company's Q3 revenue guidance of $880 million to $920 million falls short of the consensus estimate of $1.05 billion.

Portfolio Pulse from Henry Khederian

August 07, 2023 | 5:58 pm

QCOM

Qualcomm's shares are trading lower due to continued weakness after the company reported a Q3 revenue miss and issued guidance with a midpoint below consensus estimates last week.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 5:48 pm

AMZN

DKNG

DraftKings Inc (NASDAQ:DKNG) CEO Jason Robins is optimistic about the upcoming 2023 NFL season, expecting big growth for the sports betting industry. The company's Q2 financial results beat analysts' estimates for revenue and earnings per share. The expansion of primetime games for the NFL, including a game on Black Friday, is seen as a value addition for DraftKings. The company's shares hit new 52-week highs of $34.49 during the intraday trading session on Friday, Aug. 5.

Portfolio Pulse from Chris Katje

August 07, 2023 | 5:47 pm

W

UBS analyst Atul Maheswari has upgraded Wayfair Inc (NYSE:W) to Buy from Neutral with an increased price target of $110 from $72. The analyst believes that Wayfair will enter a multi-quarter growth period with a boost in sales and profit. The company's move to reduce the cost base is expected to drive margin gains in the future. Last week, Wayfair reported a Q2 FY23 sales decline of 3.4% YoY to $3.17 billion, beating the consensus of $3.10 billion.

Portfolio Pulse from Lekha Gupta

August 07, 2023 | 5:36 pm

TRHC

Nautic Partners has agreed to acquire Tabula Rasa HealthCare Inc (NASDAQ:TRHC) for $10.50 per share in cash, valuing the company at approximately $570 million. The deal will combine Tabula Rasa with ExactCare Pharmacy, another Nautic portfolio company. The transaction is expected to close in Q4 2023. Tabula Rasa's Q2 adjusted EPS was $0.03, beating the consensus of $(0.14), and sales were $90.04 million, beating the consensus of $88.82 million. William Blair analysts have downgraded the stock to Market Perform from Outperform.

Portfolio Pulse from Vandana Singh

August 07, 2023 | 5:34 pm

GHM

IDEX

VRTV

Several industrial stocks experienced significant price movements during Monday's intraday session. Veritiv (VRTV), Graham (GHM), Perma-Fix Envirn Servs (PESI), Performance Shipping (PSHG), and Nocera (NCRA) saw their shares rise, while Ideanomics (IDEX), Markforged Holding (MKFG), Hyzon Motors (HYZN), Proterra (PTRA), Earlyworks Co (ELWS), and Surf Air Mobility (SRFM) experienced declines. The movements were accompanied by high trading volumes and recent earnings reports for some companies.

Portfolio Pulse from Benzinga Insights

August 07, 2023 | 5:31 pm

SAGE

VTGN

The article lists the stocks that gained and lost the most during Monday's mid-day trading session. Among the gainers were Vistagen Therapeutics, Save Foods, Poseida Therapeutics, and Missfresh Limited, all of which saw significant jumps in their share prices due to various positive developments. On the other hand, Sage Therapeutics, Tivic Health Systems, Yellow Corporation, and Quantum-Si incorporated were among the biggest losers, with their shares tumbling due to negative news such as worse-than-expected results and regulatory setbacks.

Portfolio Pulse from Lisa Levin

August 07, 2023 | 5:28 pm

NNBR

Zacks Small-Cap Research has set a price valuation on NN Inc.'s stock following the release of the company's Q2 2023 results. Despite a challenging demand environment, NN Inc. demonstrated improved core profitability and free cash flow generation.

Portfolio Pulse from Happy Mohamed

August 07, 2023 | 5:02 pm

PHVS

Pharvaris reported a year-over-year decrease in Q2 EPS results, leading to a drop in its share price.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 5:02 pm