Streetbeat News

Earnings

VSCO

Telsey Advisory Group analyst Dana Telsey has reiterated a Market Perform rating on Victoria's Secret & Co. (NYSE:VSCO) with a price target of $21. The analyst expects Q2 EPS of $0.25 vs. $1.09 last year, due to lower traffic, conversion, and AUR in North America and increased promotional activity pressuring margins. Telsey forecasts total sales to decline 5.2% Y/Y to $1.443 billion. The analyst also highlights the management's strategies to drive growth, including a loyalty program and a more efficient store format.

Portfolio Pulse from Nabaparna Bhattacharya

August 25, 2023 | 6:49 pm

ADSK

NOW

ORCL

TEAM

Software stocks are trading higher due to a tech rebound and strong earnings from Autodesk and Intuit. Stocks mentioned include Autodesk (ADSK), ServiceNow (NOW), Oracle (ORCL), and Atlassian (TEAM).

Portfolio Pulse from Benzinga Newsdesk

August 25, 2023 | 6:48 pm

ADI

ASX

NVDA

Semiconductor and chip stocks are trading higher following NVIDIA's earnings report. The volatility in the market is affecting the stock prices of companies like ADI and ASX.

Portfolio Pulse from Benzinga Newsdesk

August 25, 2023 | 6:45 pm

AFRM

ALLG

DOMO

HIBB

U.S. stocks traded higher with the Nasdaq Composite gaining over 100 points. Affirm Holdings (AFRM), YS Biopharma (YS), and Hibbett (HIBB) shares rose significantly due to positive financial results and insider trading. Domo (DOMO) and Allego (ALLG) shares dropped due to below-consensus outlooks and lowered guidance. Hawaiian Electric Industries (HE) shares fell due to a lawsuit and dividend suspension.

Portfolio Pulse from Lisa Levin

August 25, 2023 | 6:22 pm

HIBB

Hibbett, Inc. reported a Q2 FY23 sales decline of 4.6% YoY to $374.88 million, missing the analyst consensus. However, Telsey Advisory Group analyst Cristina Fernandez reiterated an Outperform rating on the company, with a price target of $60.00. The Q2 gross margin contracted 160 basis points Y/Y to 32.8%, reflecting higher promotional activity and occupancy deleverage, offset by lower freight and logistics costs. Hibbett maintained its 2023 EPS guidance of $7.00-$7.75. HIBB shares are trading higher by 22.87% to $45.29.

Portfolio Pulse from Nabaparna Bhattacharya

August 25, 2023 | 6:20 pm

FSLY

Fastly shares are trading higher, possibly due to strong earnings from Intuit and Workday which may be lifting the software sector.

Portfolio Pulse from Benzinga Newsdesk

August 25, 2023 | 6:12 pm

NVDA

NVIDIA shares are trading lower after a recent surge due to a strong earnings report and positive guidance.

Portfolio Pulse from Benzinga Newsdesk

August 25, 2023 | 6:08 pm

WDAY

Workday Inc (NASDAQ:WDAY) shares rose after the company reported strong fiscal second-quarter results. Analysts from Needham, Morgan Stanley, Piper Sandler, KeyBanc Capital Markets, Goldman Sachs, and William Blair all maintained positive ratings on the stock, with several raising their price targets. The analysts highlighted Workday's consistent subscription revenue beat, GAAP profitability, ability to expand AI monetization, improving sales execution, and resilience amid macro headwinds.

Portfolio Pulse from Priya Nigam

August 25, 2023 | 6:03 pm

SIG

Telsey Advisory Group analyst Dana Telsey has reiterated a Market Perform rating on Signet Jewelers Ltd (SIG) with a price target of $71. The analyst expects SIG's Q2 results to show an EPS of $1.37 and total sales to decrease by 11.1% Y/Y to $1.56 billion. The company's operating expense and capital expenditures are expected to weigh on operating margin, resulting in a range of 8.9% - 9.2%. The analyst also noted that SIG's significant exposure to the bridal segment is not expected to recover until late 2024.

Portfolio Pulse from Shivani Kumaresan

August 25, 2023 | 5:59 pm

JWN

Nordstrom Inc (NYSE:JWN) beat Q2 earnings estimates but Telsey Advisory Group analyst Dana Telsey lowered the price target to $19 from $21 due to decelerating trends in Q3. Despite the Q2 beat, JWN reiterated its FY23 outlook of revenue decline of 4%-6% Y/Y. Telsey sees sales trends decelerating at the beginning of August across JWN's two banners. Citigroup and UBS also reduced their price targets for JWN.

Portfolio Pulse from Lekha Gupta

August 25, 2023 | 5:37 pm