Streetbeat News

Earnings

BBWI

Bath & Body Works Inc (NYSE:BBWI) reported a Q2 FY23 sales decline of 3.6% YoY to $1.56 billion, missing the analyst consensus of $1.57 billion. Revenue from the U.S. and Canada stores decreased 1% YoY, International stores fell 4%, and Direct sales declined 10%. However, the company's adjusted EPS of $0.40 beat the analyst consensus of $0.33. The company sees Q3 FY23 EPS of $0.30-$0.40 and expects Q3 sales to decline 2.5% - 4%. It raised FY23 adjusted EPS guidance from $2.68 - $3.08 to $2.80 - $3.10.

Portfolio Pulse from Shivani Kumaresan

August 23, 2023 | 3:37 pm

PINC

Premier Inc (NASDAQ:PINC) reported better-than-expected Q4 earnings but missed sales expectations. The company will not provide 2024 guidance due to its ongoing strategic review. Premier shares fell 8.6% to trade at $21.99 on Wednesday. Several analysts, including Piper Sandler, Canaccord Genuity, B of A Securities, UBS, and Benchmark, lowered their price targets on Premier following the earnings announcement.

Portfolio Pulse from Lisa Levin

August 23, 2023 | 3:35 pm

DIA

IWM

NVDA

QQQ

SPY

Major indexes are up as investors evaluate mixed retail earnings. Tech stocks are also on the rise in anticipation of NVIDIA's upcoming earnings report.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 3:34 pm

CCL

Carnival Corporation (CCL) has seen a significant increase in the volume of its Sep 1 $17 calls, with 2187 contracts traded near the ask price of $0.241, compared to an open interest of 1023 contracts. The company is expected to release its earnings on September 19 before the market opens.

Portfolio Pulse from Charles Gross

August 23, 2023 | 3:21 pm

AGTI

AMC

CIX

CVI

GFGD

LANC

NKE

PINC

PTON

TIVC

Several big stocks recorded losses in Wednesday's trading session. Foot Locker shares tumbled 34.4% after a Q2 revenue miss and an increase in inventories. Peloton Interactive fell 23.6% following mixed Q4 results and a decline in Connected Fitness subscribers. Tivic Health Systems, AMC Entertainment Holdings, The Growth for Good Acquisition Corporation, Definitive Healthcare Corp., Lancaster Colony Corporation, Premier, CompX International, iQIYI, CVR Energy, Agiliti, and NIKE also experienced declines.

Portfolio Pulse from Lisa Levin

August 23, 2023 | 3:15 pm

ASX

INTC

MRVL

NVDA

TSM

Semiconductor and chip stocks are trading higher in anticipation of NVIDIA's earnings report after the close today.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 3:12 pm

DLX

Sunshine Research has released a short report on Deluxe Corporation (DLX US), highlighting the company's aggressive accounting practices and the likelihood of a dividend cut in the coming quarters. The report points out that despite attempts to diversify, Deluxe's check printing business, which is in structural decline, still accounts for over 50% of its profitability. The report also suggests that Deluxe's quality of earnings has deteriorated significantly in recent years, indicating growing business pressures. The report concludes that Deluxe may be forced to cut their dividend in the coming quarters due to declining cash generation and higher interest rates.

Portfolio Pulse from Happy Mohamed

August 23, 2023 | 3:08 pm

ATLO

CBAN

Colony Bankcorp (NASDAQ:CBAN) is distributing a dividend of $0.11 per share, resulting in an annualized dividend yield of 4.26%. The company's dividend per share has shown a positive trend from 2019 to 2022, increasing from $0.30 to $0.43. However, the company's earnings per share decreased from $1.40 to $1.37 during the same period. The company's dividend yield is mid-range compared to its industry peers, with Ames National (NASDAQ:ATLO) having the highest annualized dividend yield at 6.03%.

Portfolio Pulse from Benzinga Insights

August 23, 2023 | 3:05 pm

NFBK

WASH

Northfield Bancorp (NASDAQ:NFBK) is set to deliver a dividend payout of $0.13 per share, equating to an annualized dividend yield of 4.29%. The company's dividend yield falls in the middle range when compared to its industry peers, with Washington Trust Bancorp (NASDAQ:WASH) having the highest annualized dividend yield at 8.16%. Northfield Bancorp has shown an upward trajectory in its dividend per share and earnings per share from 2019 to 2022, indicating a strong financial position.

Portfolio Pulse from Benzinga Insights

August 23, 2023 | 3:05 pm

WELL

Welltower (NYSE:WELL) has issued a dividend payout of $0.61 per share, resulting in an annualized dividend yield of 3.01%. However, the company has seen a decrease in its dividend per share from $3.48 in 2019 to $2.44 in 2022, and a decrease in earnings per share from $4.13 in 2019 to $3.35 in 2022. This could indicate a challenging financial situation for the company.

Portfolio Pulse from Benzinga Insights

August 23, 2023 | 3:05 pm