Streetbeat News

Earnings

PDCO

Patterson Cos reported Q1 adjusted earnings of $0.40 per share, in line with analyst estimates, marking a 25% YoY increase. However, the company's quarterly sales of $1.576 billion missed the consensus estimate of $1.58 billion by 0.25%, despite a 3.48% YoY increase.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2023 | 11:01 am

HPQ

QQQ

SPY

The US stock rally may cool off as focus shifts to Q2 GDP and private jobs data. The tech sector could face selling pressure due to earnings-related sell-offs from companies like HP, Inc. The market is also awaiting ADP's private payrolls report and preliminary Q2 GDP data. The Nasdaq Composite and the S&P 500 indices ended at their highest levels since early August. In premarket trading, the SPDR S&P 500 ETF Trust and the Invesco QQQ ETF fell slightly. Stocks in focus include HP, Box, Inc., Ambarella, Inc., Brown-Forman Corporation, and Patterson Companies, Inc.

Portfolio Pulse from Shanthi Rexaline

August 30, 2023 | 10:57 am

UTSI

UTStarcom Holdings (NASDAQ:UTSI) reported a 15.79% increase in quarterly losses to $(0.22) per share, compared to $(0.19) per share last year. Sales also decreased by 13.05% to $6.51 million from $7.49 million in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2023 | 10:50 am

TM

Toyota Motor Corp (NYSE:TM) reported a 10% increase in global production to 918,347 vehicles in July, including subsidiaries Daihatsu Motor Co and Hino Motors Ltd. Global and overseas production reached record highs due to improved production capacity and solid demand. Worldwide sales grew 5.2% to 918,345 units. The automaker cited recovery from semiconductor shortages and COVID-19 impacts as reasons for the increase. However, Toyota paused production in all its Japanese plants due to a system malfunction.

Portfolio Pulse from Shivani Kumaresan

August 30, 2023 | 10:49 am

HPQ

HP has issued its FY23 adjusted EPS guidance below estimates, leading to a decrease in its share price.

Portfolio Pulse from Bill Haddad

August 30, 2023 | 10:43 am

JNJ

Johnson & Johnson has revised its 2023 adjusted EPS guidance to $10.00-$10.10, down from the previous guidance of $10.70-$10.80. The consensus was $10.65. The company also adjusted its operational EPS to $9.90 - $10.00, down from the prior guidance of $10.60-$10.70.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2023 | 10:40 am

JNJ

Johnson & Johnson has updated its financials and FY23 guidance following the separation from Kenvue. The company now expects 2023 reported sales growth of 7%-8%, up from the previous range of 6.5%-7.5%. Operational growth is projected at 7.5%-8.5%, and adjusted operational growth at 6.2%-7.2%.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2023 | 10:37 am

HTOO

Fusion Fuel Green (NASDAQ:HTOO) has reported a net profit of $13.49 million for Q2 2023.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2023 | 10:25 am

CONN

Conn's reported Q2 losses of $(1.39) per share, beating the analyst consensus estimate of $(1.53) by 9.15 percent. However, the company's quarterly sales of $306.91 million missed the analyst consensus estimate of $308.15 million by 0.40 percent. This represents a 3575 percent decrease in earnings and an 11.46 percent decrease in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2023 | 10:02 am

CAE

ERJ

Embraer SA (ERJ) and CAE Inc (CAE) have expanded their joint venture deal for pilot and cabin crew training for the E-Jet E2 family of commercial aircraft. The companies plan to launch a new pilot training program and deploy an E-Jet E2 full-flight simulator in Singapore by December 2023. This comes after ERJ reported a 27% Y/Y increase in Q2 FY23 revenue, beating consensus estimates.

Portfolio Pulse from Lekha Gupta

August 30, 2023 | 9:40 am