Streetbeat News

Earnings

AEON

ALKS

BETR

CONN

FANH

HOV

LYFT

NCNO

PODD

VFS

WALD

Several US stocks recorded gains in Wednesday's trading session. AEON Biopharma, Conn's, LexinFintech Holdings, VinFast Auto, Hovnanian Enterprises, Alkermes, nCino, Insulet Corporation, Waldencast, Better Home & Finance Holding Company, Fanhua, and Lyft all saw their stock prices rise. The increases were due to various reasons including positive quarterly results, insider buying, and successful clinical trials.

Portfolio Pulse from Lisa Levin

August 30, 2023 | 2:37 pm

DELL

HPQ

NVDA

HP Inc's Q3 report showed a drop in total revenue by 9.9% YoY to $13.20 billion, falling short of Refinitiv’s consensus estimate of $13.37 billion. The company's shares fell 5.6% in after-market trading. HP's PC rival, Dell Technologies, is set to report its Q2 results on August 31st. HP's CEO, Enrique Lores, expects sequential growth in Q4 but has lowered the company's outlook due to slower than expected external conditions. HP is turning to AI for growth opportunities as its legacy businesses fade.

Portfolio Pulse from Upwallstreet

August 30, 2023 | 2:30 pm

LIZI

LIZHI Inc. reported a year-over-year decrease in Q2 earnings per share (EPS), leading to a drop in its stock price.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2023 | 2:10 pm

PDD

PDD Holdings Inc. (NASDAQ:PDD) shares rose sharply following the release of its Q2 results, with revenue growth of 66% YoY to $7.21 billion, beating the consensus of $6.07 billion. Options traders are betting on a further surge in PDD's stock, with a buyer of 2,600 of the March 105-calls at an average price of $10.39 per contract, indicating a predicted gain of at least 20% by March.

Portfolio Pulse from Priya Nigam

August 30, 2023 | 2:10 pm

CRM

Salesforce, Inc. (NYSE:CRM) is expected to report Q2 FY2024 earnings after the closing bell on Aug. 30, 2023. Analysts predict earnings of $1.90 per share, up from $1.19 per share a year ago, and revenue of $8.52 billion, up from $7.72 billion. Several analysts have recently revised their ratings and price targets for the company.

Portfolio Pulse from Lisa Levin

August 30, 2023 | 2:06 pm

AGIL

DBGI

FGEN

GLG

NAOV

OTLK

US stocks traded higher with the Dow Jones gaining around 150 points. The US economy expanded at an annualized pace of 2.1% in Q2 2023. NanoVibronix, AgileThought, and Digital Brands Group saw significant stock increases, while Outlook Therapeutics, TD Holdings, and FibroGen experienced notable drops. The US trade deficit in goods widened to $91.2 billion in July.

Portfolio Pulse from Lisa Levin

August 30, 2023 | 2:04 pm

AMZN

CONN

CVX

GOOG

HYMTF

JBLU

PVH

WBD

WMT

Several companies have made significant announcements. Warner Bros. Discovery has appointed Mark Thompson as the new leader of CNN. Hyundai's JV is investing in Korea Zinc to bolster EV battery raw material supply. Toyota's global production and sales increased in July. JetBlue has launched a new non-stop flight from New York to Amsterdam. Alphabet is trialing a new song-searching feature on YouTube. The FDA has criticized Amazon for listing unauthorized drugs. US Steel is evaluating buyout offers. Walmart is asking some pharmacists to take voluntary pay cuts. A lawsuit against Burger King alleging deceptive advertising continues. Chevron has evacuated staff from some oil platforms due to a hurricane. Conn's reported a revenue decline in Q2 FY24, while PVH's Q2 FY23 sales grew.

Portfolio Pulse from Vandana Singh

August 30, 2023 | 2:03 pm

VRA

Vera Bradley Inc (NASDAQ:VRA) reported Q2 FY24 revenue of $128.17 million, missing the consensus of $130.95 million. Direct segment revenues were down 1.5% Y/Y, while indirect segment revenues rose 0.2% Y/Y. Pura Vida segment revenues declined 3.6% Y/Y. Gross margin expanded to 56.2% from 46.4% a year ago. Adjusted EPS was $0.33, beating the estimate of $0.12. The company narrowed its FY24 outlook. VRA shares are trading higher by 10%.

Portfolio Pulse from Lekha Gupta

August 30, 2023 | 2:02 pm

CIEN

Ciena (NYSE:CIEN) is set to release its latest quarterly earnings report on August 31, 2023. Analysts estimate an earnings per share (EPS) of $0.51. The company's stock performance has been generally negative over the last 52-week period, with shares down 5.86%. The company's previous quarter saw an EPS beat by $0.13, resulting in a 2.1% increase in share price the next day.

Portfolio Pulse from Benzinga Insights

August 30, 2023 | 2:02 pm

HCP

HashiCorp (NASDAQ:HCP) is set to release its quarterly earnings report on August 31, 2023. Analysts estimate an earnings per share (EPS) of $-0.15. The company's past performance shows a pattern of beating EPS estimates but experiencing a drop in share price. The stock is currently trading at $28.69, down 6.11% over the last 52-week period.

Portfolio Pulse from Benzinga Insights

August 30, 2023 | 2:02 pm