Streetbeat News

Earnings

SCSC

ScanSource, Inc. reported Q4 revenues of $947.15 million, down 1.6% Y/Y but beating the street view of $897.20 million. Non-GAAP EPS of $0.76 also beat the consensus of $0.75. The company plans to optimize its working capital to meet margin expectations and market demand. For FY24, ScanSource expects GAAP operating income to be at least $134 million and Adjusted EBITDA to be at least $180 million, with net sales growth of at least 3%.

Portfolio Pulse from Nabaparna Bhattacharya

August 22, 2023 | 3:28 pm

MSGE

SPHR

Madison Square Garden Entertainment Corp (MSGE) reported upbeat earnings but disappointing sales for its fiscal fourth quarter. BofA Securities analyst Peter Henderson initiated coverage of MSGE with a Buy rating and a price target of $41, predicting a 30% upside to the stock. Henderson believes MSGE can achieve its goals of improving venue utilization, driving more premium hospitality, and increasing sponsorship by monetizing new verticals including insurance.

Portfolio Pulse from Priya Nigam

August 22, 2023 | 3:26 pm

KITT

LDOS

Nauticus Robotics Inc (KITT) has won an additional contract worth $2.1 million from Leidos Holdings Inc (LDOS) for technology development related to advanced undersea vehicles. This deal is an extension of an earlier contract from LDOS, valued at $2.7 million. Since 2022, the program has received $16.6 million in funding from Leidos. Last week, KITT reported Q2 adjusted EPS loss of $(0.20), meeting the consensus and sales of $1.13 million, missing the consensus of $2.40 million.

Portfolio Pulse from Lekha Gupta

August 22, 2023 | 3:11 pm

CMA

DKS

KEY

LOW

M

NVDA

The stock market is experiencing positive sentiment due to several factors, including aggressive investor buying of NVIDIA Corp (NASDAQ:NVDA) ahead of earnings release, Wall Street positioning for another leg up in the artificial intelligence frenzy rally, and a 2% rise in Hong Kong stocks likely caused by the Chinese Plunge Protection Team (PPT) buying stocks. However, S&P has cut the credit ratings of several U.S. banks including Keycorp (NYSE:KEY) and Comerica Incorporated (NYSE:CMA). Macy’s Inc (NYSE: M), DICK'S Sporting Goods Inc (NYSE:DKS), and Lowe's Companies Inc (NYSE:LOW) have also released their earnings.

Portfolio Pulse from The Arora Report

August 22, 2023 | 3:09 pm

APA

WDS

APA (NASDAQ:APA) is set to deliver a dividend payout of $0.25 per share, equating to an annualized dividend yield of 2.99%. The company's dividend payout went ex-dividend on July 20, 2023. The company's dividend per share has declined from $1.00 in 2019 to $0.75 in 2022, while its earnings per share have increased from $0.23 to $7.55 over the same period. APA's dividend yield is in the middle of its industry peers, with Woodside Energy Group (NYSE:WDS) having the highest annualized dividend yield at 10.19%.

Portfolio Pulse from Benzinga Insights

August 22, 2023 | 3:05 pm

VNET

VNET Gr (NASDAQ:VNET) is set to release its latest quarterly earnings report on August 23, 2023. Analysts estimate an earnings per share (EPS) of $-0.05. The company's past performance shows a trend of share price drops following earnings reports, even when beating estimates. The stock is currently trading at $3.14, down 38.33% over the last 52-week period.

Portfolio Pulse from Benzinga Insights

August 22, 2023 | 3:01 pm

OOMA

Ooma (NYSE:OOMA) is set to release its latest quarterly earnings report on August 23, 2023. Analysts estimate an earnings per share (EPS) of $0.14. The company's past performance shows a pattern of share price drops following earnings beats. Ooma's shares were trading at $13.86 as of August 21, with a 0.67% increase over the last 52-week period.

Portfolio Pulse from Benzinga Insights

August 22, 2023 | 3:01 pm

ZUO

Zuora (NYSE:ZUO) is set to release its latest quarterly earnings report on August 23, 2023. Analysts estimate an earnings per share (EPS) of $0.03. The company's past performance shows a trend of beating EPS estimates, which has often led to an increase in share price. Shares of Zuora were trading at $9.99 as of August 21, with a 52-week increase of 11.62%.

Portfolio Pulse from Benzinga Insights

August 22, 2023 | 3:01 pm

RGS

Regis (NYSE:RGS) is set to release its quarterly earnings report on Wednesday, 2023-08-23. Analysts estimate an earnings per share (EPS) of $-0.05. The company's past performance shows a pattern of share price changes following earnings reports. Shares of Regis were trading at $1.22 as of August 21, with a 52-week period showing a decrease of 14.58%.

Portfolio Pulse from Benzinga Insights

August 22, 2023 | 3:01 pm

DY

Dycom Industries (NYSE:DY) is set to release its latest quarterly earnings report on August 23, 2023. Analysts estimate an earnings per share (EPS) of $1.66. The company's past performance shows it beat EPS estimates last quarter, resulting in a 3.59% increase in share price. However, the stock has been down 17.81% over the last 52-week period.

Portfolio Pulse from Benzinga Insights

August 22, 2023 | 3:01 pm