Streetbeat News

Earnings

RIVN

Rivian Automotive Inc's board has approved a pay raise for CEO RJ Scaringe, increasing his annual base salary to $1 million, a 50% jump from his previous pay of $650,000. Additionally, Scaringe has been granted stock awards worth approximately $15 million under the company's 2021 Incentive Award Plan. The raise comes as Rivian is looking to scale production to address its long backlog and customer complaints about wait times.

Portfolio Pulse from Anan Ashraf

August 31, 2023 | 6:06 am

CHWY

CRM

CRWD

ICCT

TSLA

US stocks ended in the green on Wednesday with the Nasdaq Composite marking a gain of around 75 points. The Dow Jones Industrial Average edged up by 0.11%, while the NASDAQ climbed by 0.54%. The S&P 500 also witnessed an uptick, rising by 0.38%. iCoreConnect Inc. (NASDAQ:ICCT) surged by 118.89% after closing its business combination with FG Merger Corp. Chewy, Inc. (NYSE:CHWY) reported a 14.3% YoY increase in its Q2 net sales. CrowdStrike Holdings, Inc. (NASDAQ:CRWD) reported a 37% YoY increase in its Q2 revenue. Salesforce, Inc. (NYSE:CRM) reported an 11% YoY increase in its Q2 revenue. Tesla, Inc. (NASDAQ:TSLA) experienced a slight decrease of 0.11%.

Portfolio Pulse from Benzinga Neuro

August 31, 2023 | 2:14 am

PEGA

Pegasystems Inc. anticipates a charge of $16 million in Q3 of 2023, primarily due to cash severance and related benefit costs for terminated employees.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2023 | 8:53 pm

NIO

XPEV

Nio (NYSE:NIO) has provided another disappointing earnings call, while competitor XPeng (NYSE:XPEV) has inked a $700 million development deal with Volkswagen and a $744 million partnership with Didi, a Chinese rideshare giant. Jefferies analysts have retained a Buy rating and $25.30 price target for XPeng.

Portfolio Pulse from Thrash Capital

August 30, 2023 | 8:52 pm

PAHC

Phibro Animal Health has projected its net sales for FY24 to be between $1.0B and $1.05B, which is in line with the estimated $1.01B.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2023 | 8:43 pm

PAHC

Phibro Animal Health (NASDAQ:PAHC) reported Q4 adjusted earnings of $0.38 per share, missing the analyst consensus estimate of $0.40 by 5%. The company also reported quarterly sales of $255.00 million, missing the analyst consensus estimate of $258.55 million by 1.37%. This represents a 5.56% increase in earnings but a 0.12% decrease in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2023 | 8:41 pm

VEEV

Veeva Systems Inc. reported Q2 earnings of $1.21 per share, beating the analyst consensus estimate of $1.13. The company also reported quarterly sales of $590.20 million, surpassing the analyst consensus estimate of $587.11 million. Veeva issued Q3 earnings per share guidance between $1.26 and $1.27, and revenue estimates between $614 million and $616 million. Full-year 2024 earnings per share is anticipated to be approximately $4.68, with revenue estimated to be between $2.365 billion and $2.370 billion.

Portfolio Pulse from Ryan Gustafson

August 30, 2023 | 8:41 pm

KNOP

KNOT Offshore Partners (NYSE:KNOP) reported Q2 earnings of $0.28 per share, beating the analyst consensus estimate of $(0.03) by 1033.33 percent. This is a 3.45 percent decrease from the same period last year. The company also reported quarterly sales of $73.82 million, beating the analyst consensus estimate of $71.31 million by 3.53 percent, a 15.42 percent increase from the same period last year.

Portfolio Pulse from Happy Mohamed

August 30, 2023 | 8:39 pm

STKH

Steakholder Foods (NASDAQ:STKH) reported a 47.22% decrease in losses for H1, with EPS at $(0.04), compared to $(0.07) YoY.

Portfolio Pulse from Happy Mohamed

August 30, 2023 | 8:35 pm

FEAM

5E Advanced Materials reported a cash balance of $20.3M at the end of the fiscal year. The company's construction in progress was valued at $67.5M, a significant increase from $25.6M year-over-year.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2023 | 8:34 pm