Streetbeat News

Earnings

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Macy's Inc reported a Q2 FY23 sales decline of 8.4% YoY to $5.13 billion, beating the analyst consensus of $5.09 billion. Brick-and-mortar sales decreased 8%, and digital sales dropped 10% YoY. The company's FY23 sales outlook is unchanged at $22.8 billion - $23.2 billion, against the consensus of $23.17 billion. However, the stock slid due to warnings about persisting macroeconomic uncertainty.

Portfolio Pulse from Shivani Kumaresan

August 22, 2023 | 1:14 pm

AEY

GOVX

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SCOR

Insiders at comScore, GeoVax Labs, ADDvantage Technologies, and Innovative Food Holdings have recently acquired shares in their respective companies. comScore reported a narrower-than-expected Q2 loss, while GeoVax Labs posted a wider-than-expected quarterly loss. ADDvantage Technologies reported a YoY decrease in Q2 financial results, and Innovative Food Holdings' Q2 revenue fell 8.2% YoY.

Portfolio Pulse from Lisa Levin

August 22, 2023 | 1:08 pm

CTRN

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In Tuesday's pre-market session, several consumer discretionary stocks saw significant movement. Citi Trends, Jiuzi Hldgs, JOANN, MGO Global, and Lixiang Education Hldg stocks rose, while Dick's Sporting Goods, Sunlands Technology, Landsea Homes, Academy Sports, Big 5 Sporting Goods, and Despegar.com stocks fell. Q2 earnings reports were released for several of these companies.

Portfolio Pulse from Benzinga Insights

August 22, 2023 | 1:06 pm

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SentinelOne Inc (NYSE:S) shares are trading lower after a 16% rise on Monday. The company is reportedly exploring strategic options, including a potential sale, and has hired investment bank Qatalyst Partners for advice. The cybersecurity sector saw a boost after Palo Alto Networks Inc (NASDAQ:PANW) issued strong earnings guidance. SentinelOne is set to report Q2 earnings on Aug. 31, with an expected loss of 14 cents per share and revenue of $140.98 million.

Portfolio Pulse from Adam Eckert

August 22, 2023 | 1:02 pm

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The article lists the top 5 oversold stocks in the industrials sector, which could present an opportunity for investors. The companies mentioned are Laser Photonics Corporation (LASE), Intuitive Machines, Inc. (LUNR), 3D Systems Corporation (DDD), Sun Country Airlines Holdings, Inc. (SNCY), and TDCX Inc. (TDCX). All these companies have reported either a decrease in sales or weaker-than-expected earnings in the recent quarter.

Portfolio Pulse from Lisa Levin

August 22, 2023 | 12:53 pm

CSIQ

Canadian Solar Inc (NASDAQ:CSIQ) reported a 2% YoY revenue growth for Q2 FY23, missing consensus estimates. The company's Q2 revenue grew by 39% sequentially due to higher solar module shipment volume and project sales, partially offset by a decline in module average selling price. The company cut its FY23 revenue guidance to $8.5 billion - $9.0 billion from the previous $9.0 billion - $9.5 billion. Despite the reduced guidance, CSIQ shares traded higher by 0.78% in the premarket session.

Portfolio Pulse from Anusuya Lahiri

August 22, 2023 | 12:53 pm

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Zoom Video Communications Inc (ZM) reported better-than-expected Q2 results and strong earnings guidance, leading to a rise in its stock. Q2 revenue increased 3.6% YoY to $1.14 billion, beating the consensus estimate of $1.11 billion. Adjusted earnings were $1.34 per share, surpassing analyst estimates of $1.03 per share. The company expects Q3 revenue to be between $1.115 billion and $1.12 billion and full-year revenue to be between $4.485 billion and $4.495 billion. Several analysts have updated their ratings and price targets for Zoom.

Portfolio Pulse from Adam Eckert

August 22, 2023 | 12:51 pm

ZM

Zoom Video Communications reported better-than-expected quarterly results and issued strong earnings guidance, leading to a rise in its share price.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 12:51 pm

SCSC

ScanSource has projected a revenue growth of at least 3% YoY for FY24, with an adjusted EBITDA of at least $180M and free cash flow of at least $150M.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 12:35 pm

COTY

Coty Inc. (NYSE:COTY) shares traded higher in the premarket session on Tuesday after the company’s earnings release on Aug. 22. Options markets are implying a move of around +/-10% by the end of the week. Traders see Coty’s stock falling at least 20% by November expiration. Coty reported quarterly earnings of 1 cent per share, compared to a year-ago loss of 1 cent per share. The company reported Q4 revenue of $1.35 billion.

Portfolio Pulse from Lisa Levin

August 22, 2023 | 12:33 pm