Streetbeat News

Earnings

AFRM

AMSWA

ARDX

HIBB

Several US stocks recorded gains on Friday, with Affirm Holdings, Inc. (AFRM), Hibbett, Inc. (HIBB), American Software, Inc. (AMSWA), and Ardelyx, Inc. (ARDX) among the notable movers. AFRM's shares jumped 24.7% following better-than-expected Q4 results and guidance. HIBB climbed 21.8% after reporting upbeat quarterly earnings. AMSWA rose 10% following positive quarterly earnings. ARDX climbed 9% after Cantor Fitzgerald upgraded the stock from Neutral to Overweight and raised the price target.

Portfolio Pulse from Lisa Levin

August 25, 2023 | 2:57 pm

ULTA

Ulta Beauty reported better-than-expected Q2 earnings with a 10.1% YoY increase in revenue to $2.53 billion, beating the consensus estimate of $2.51 billion. The company also raised its full-year 2023 revenue and earnings guidance. However, its shares fell 3.4% to trade at $408.28 on Friday. Post earnings, analysts from Raymond James, Deutsche Bank, Wells Fargo, and Baird revised their price targets on Ulta Beauty.

Portfolio Pulse from Lisa Levin

August 25, 2023 | 2:52 pm

CALM

CHGG

DIT

SANW

STG

The article identifies five value stocks in the consumer defensive sector, namely S&W Seed (SANW), Sunlands Technology (STG), Cal-Maine Foods (CALM), Amcon Distributing (DIT), and Chegg (CHGG). The companies are considered undervalued based on their low price-to-earnings (P/E) multiples. The article also provides recent earnings per share and dividend yield data for each company.

Portfolio Pulse from Benzinga Insights

August 25, 2023 | 2:40 pm

BCC

HCC

PRM

SUZ

Benzinga Insights has identified Suzano, Warrior Met Coal, United States Steel, Boise Cascade, and Perimeter Solutions as notable value stocks in the basic materials sector. These stocks have low P/E multiples, indicating potential undervaluation. Recent earnings reports show mixed results among these companies.

Portfolio Pulse from Benzinga Insights

August 25, 2023 | 2:39 pm

AAPL

AMZN

GOOG

META

MSFT

NVDA

QQQ

TSLA

Stock market bears are predicting an end to the AI-driven rally, pointing to a potential double top pattern on the chart. The 'sell the news' reaction to NVIDIA's earnings report is causing concern. Money flows in tech stocks like Apple, Amazon, Alphabet, Meta Platforms, Microsoft, NVIDIA, and Tesla were positive after hours but turned negative in the premarket. Investors are awaiting Powell's speech at Jackson Hole, with concerns that he may advocate for a higher long-term policy rate. Early trade money flows are positive for Amazon, Microsoft, Meta Platforms, and Apple, but negative for Tesla, Alphabet, and NVIDIA.

Portfolio Pulse from The Arora Report

August 25, 2023 | 2:35 pm

GPS

Gap Inc. reported better-than-expected Q2 adjusted EPS results and issued FY23 net sales guidance, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

August 25, 2023 | 2:30 pm

Ubiquiti Inc. reported a year-over-year increase in its Q4 financial results, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

August 25, 2023 | 2:28 pm

TGT

Target Corp (TGT) shares have fallen by nearly 7% over the past five sessions due to mixed earnings in the retail sector. The drop was triggered by Dick's Sporting Goods lowering its guidance, which could reflect lower consumer confidence or spending. This sentiment could extend to Target, as both companies have sporting goods segments that target similar demographics. Investors are concerned that consumers might be cutting back on discretionary spending, which could negatively impact Target's sales and growth prospects.

Portfolio Pulse from Henry Khederian

August 25, 2023 | 2:26 pm

Ubiquiti Inc (NYSE:UI) reported Q4 FY23 revenue growth of 10.8% Y/Y to $491.1 million, beating consensus estimates. The growth was led by the Enterprise Technology platform, offset by lower Service Provider Technology platform revenue. Gross profit rose to $203.3 million, with margin expanding to 41.4%. Adjusted EPS of $1.73 missed the consensus of $1.80. The company declared a dividend per share of $0.60 and intends to pay regular quarterly cash dividends of at least $0.60 per share during each quarter of FY24. UI shares are trading lower by 2.58% at $150.00 premarket.

Portfolio Pulse from Lekha Gupta

August 25, 2023 | 2:22 pm

AMSWA

American Software reported better-than-expected Q1 adjusted EPS results and issued FY24 revenue guidance, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

August 25, 2023 | 2:20 pm