Streetbeat News

Earnings

BABA

PDD

Goldman Sachs analyst Ronald Keung has upgraded PDD Holdings Inc (Pinduoduo) from Neutral to Buy with a $129 price target. This is due to PDD's significant 2Q earnings beat, driven mainly by domestic online ad revenue, and its success in blockbuster SKUs/SME merchant focus. Keung also lifted his PDD FY23E central platform EBIT forecasts. Despite aggressive strategies from Alibaba, Pinduoduo maintains a strong presence in the Chinese eCommerce platforms.

Portfolio Pulse from Anusuya Lahiri

August 30, 2023 | 3:42 pm

JNJ

KVUE

Johnson & Johnson (JNJ) has updated its 2023 projections, predicting double-digit profit growth following its recent spinoff of Kenvue Inc (KVUE). The company expects FY23 reported sales growth of 7%-8% and adjusted reported EPS of $10 to $10.10. JNJ retains a 9.5% stake in KVUE after accepting 190.9 million JNJ stock in exchange for around 1.5 billion KVUE common stock.

Portfolio Pulse from Vandana Singh

August 30, 2023 | 3:42 pm

MCFT

MasterCraft Boat Holdings Inc reported a Q4 FY23 sales decline of 15.5% YoY to $166.57 million, beating the analyst consensus. However, gross profit plunged 24.9% YoY and the gross margin compressed by 320 basis points. The company expects Q1 FY24 sales of about $98 million, significantly lower than the Street view of $133.58 million. The company's shares are trading lower by 12.9%.

Portfolio Pulse from Shivani Kumaresan

August 30, 2023 | 3:29 pm

HPE

Hewlett Packard Enterprise CEO Antonio Neri discussed the company's AI opportunities on CNBC. However, the company's Q4 revenue guidance disappointed investors.

Portfolio Pulse from Happy Mohamed

August 30, 2023 | 3:17 pm

BBY

Best Buy Co Inc (NYSE:BBY) reported better-than-expected Q2 results with sales of $9.58 billion and adjusted EPS of $1.22. However, the company revised its FY24 revenue guidance to $43.80 billion-$44.50 billion and expects a comparable sales decline of 4.5% to 6.0%. Following the results, Telsey Advisory Group, Wedbush, and UBS revised their price targets on Best Buy.

Portfolio Pulse from Lisa Levin

August 30, 2023 | 3:15 pm

AGO

FNF

Assured Guaranty (NYSE:AGO) is set to distribute a dividend payout of $0.28 per share, resulting in an annualized dividend yield of 1.86%. The company has shown a steady increase in its dividend per share and earnings per share from 2019 to 2022. Fidelity National Finl (NYSE:FNF) has the highest annualized dividend yield at 4.40% among its industry peers.

Portfolio Pulse from Benzinga Insights

August 30, 2023 | 3:05 pm

NRT

SJT

North European Oil (NYSE:NRT) is issuing a dividend payout of $0.21 per share, resulting in an annualized dividend yield of 5.61%. The company has shown an upward trajectory in dividend per share and earnings per share from 2019 to 2022. San Juan Basin Royalty (NYSE:SJT) has the highest annualized dividend yield at 24.30% among industry peers.

Portfolio Pulse from Benzinga Insights

August 30, 2023 | 3:05 pm

AY

ORA

Ormat Technologies (NYSE:ORA) is set to deliver a dividend payout of $0.12 per share, equating to an annualized dividend yield of 0.59%. The company has seen a growth in its dividend per share from $0.44 to $0.48 from 2019 to 2022, but a decrease in earnings per share from $1.73 to $1.31. Atlantica Sustainable (NASDAQ:AY) has a higher annualized dividend yield of 7.76%.

Portfolio Pulse from Benzinga Insights

August 30, 2023 | 3:05 pm

BOKF

TFC

BOK Financial (NASDAQ:BOKF) will issue a dividend payout of $0.54 per share, resulting in an annualized dividend yield of 2.42%. The company has seen an increase in dividend per share from 2019 to 2022, but a decrease in earnings per share over the same period. Truist Finl (NYSE:TFC) has the highest annualized dividend yield at 6.86% among its industry peers.

Portfolio Pulse from Benzinga Insights

August 30, 2023 | 3:05 pm

DHT

TRMD

DHT Holdings (NYSE:DHT) is set to issue a dividend payout of $0.35 per share, resulting in an annualized dividend yield of 14.26%. However, the company has seen a decline in its dividend per share from $0.20 in 2019 to $0.12 in 2022, and a decrease in earnings per share from $0.11 in 2019 to $-0.02 in 2022. This could indicate a challenging financial situation for the company.

Portfolio Pulse from Benzinga Insights

August 30, 2023 | 3:05 pm