Streetbeat News

Earnings

ADTX

DELL

EDBL

ESTC

ICCT

OLN

TAOP

UPTD

In Friday's mid-day session, several stocks experienced significant movements. Notable gainers included Edible Garden AG Incorporated (EDBL), TradeUP Acquisition Corp. (UPTD), and Taoping Inc. (TAOP), which reported a YoY increase in H1 EPS and sales results. Dell Technologies Inc. (DELL) and Elastic N.V. (ESTC) also gained after reporting better-than-expected Q2 results and raising their outlooks. On the other hand, Aditxt, Inc. (ADTX) and iCoreConnect Inc. (ICCT) were among the losers, with Olin Corporation (OLN) tumbling after announcing that its CEO will step down in 2024.

Portfolio Pulse from Lisa Levin

September 01, 2023 | 5:18 pm

DELL

Dell Technologies Inc (NYSE:DELL) shares spiked after the company reported its fiscal Q2 results, exceeding analysts' expectations. Analysts from Raymond James, Morgan Stanley, Evercore, and Citi have maintained positive ratings on the stock, with price targets raised to as high as $70. The company's AI assertions are gaining credibility, with 20% of year-to-date server orders being for AI-enabled servers. Dell's shares had risen by 22.78% to $69.05 at the time of publication.

Portfolio Pulse from Priya Nigam

September 01, 2023 | 4:36 pm

OLN

Olin Corp's CEO, Scott Sutton, will step down from his roles as President, CEO, and Chairman of the Board in the first half of 2024. Sutton has led a strategic transformation of Olin since 2020. The company reported a 34.9% YoY decrease in Q2 FY23 revenue to $1.7 billion, missing the consensus of $1.86 billion. Olin expects Q3 2023 adjusted EBITDA to be approximately 10% lower than Q2 2023 levels due to the difficult global economic environment and operating issues at its Texas facility.

Portfolio Pulse from Shivani Kumaresan

September 01, 2023 | 4:26 pm

ADTX

DELL

NVOS

OLN

TAOP

TIO

U.S. stocks traded mostly lower with the NASDAQ falling 0.30% and the S&P 500 dropping 0.09%. Dell Technologies Inc. (DELL) shares rose by 25% after reporting better-than-expected Q2 results and raising its outlook for the year. Taoping Inc. (TAOP) shares increased by 42% following a YoY increase in H1 EPS and sales results. Novo Integrated Sciences, Inc. (NVOS) shares gained 41% after receiving an Underwriting Clearance Notice for a $70 million coupon. Aditxt, Inc. (ADTX) shares dropped 52% after announcing a $10 million private placement. Tingo Group, Inc. (TIO) shares fell by 19% after failing to satisfy Hindenburg's concerns. Olin Corporation (OLN) shares fell by 14% after announcing the CEO's departure in 2024.

Portfolio Pulse from Lisa Levin

September 01, 2023 | 4:07 pm

DDL

Dingdong (Cayman) reported a year-over-year decrease in Q2 financial results, leading to a drop in its share price.

Portfolio Pulse from Benzinga Newsdesk

September 01, 2023 | 3:48 pm

LOVE

The Lovesac Co reported preliminary Q2 net sales results that exceeded estimates, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

September 01, 2023 | 3:46 pm

AMRK

A-Mark Precious Metals reported better-than-expected Q4 financial results, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

September 01, 2023 | 3:45 pm

BEKE

KE Holdings Inc (BEKE) shares are trading higher by 7.1% after China cut the minimum down payment on mortgages as part of stimulus measures. The company reported Q2 adjusted earnings of 27 cents per share, beating the analyst consensus estimate of 19 cents. However, quarterly sales of $2.69 billion missed the analyst consensus estimate of $2.73 billion by 1.6%. The company's board extended the share repurchase program from $1 billion to $2 billion and approved a special cash dividend of $0.057 per ordinary share and $0.171 per ADS.

Portfolio Pulse from Henry Khederian

September 01, 2023 | 3:36 pm

MDB

MongoDB, Inc. (NASDAQ:MDB) reported better-than-expected Q2 results and issued FY24 guidance above estimates. The company's shares rose 6.9% following the announcement. Several analysts, including those from Piper Sandler, Needham, JMP Securities, Oppenheimer, Stifel, Guggenheim, Barclays, and Morgan Stanley, increased their price targets on MongoDB.

Portfolio Pulse from Lisa Levin

September 01, 2023 | 3:31 pm

IOT

Samsara Inc reported better-than-expected Q2 results with a 43% Y/Y revenue growth to $219.3 million, beating the consensus of $207.49 million. The company also raised its FY24 revenue outlook. Following the announcement, Samsara's shares rose 12.9% and several analysts increased their price targets on the company's stock.

Portfolio Pulse from Lisa Levin

September 01, 2023 | 3:22 pm