Streetbeat News

Earnings

MIGI

Mawson Infra Gr (NASDAQ:MIGI) reported Q2 sales of $10.60 million, a 46.41% decrease from $19.78 million in the same period last year. However, the company's self-mined BTC revenue increased by 78% Q/Q to $4.9 million.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2023 | 8:06 pm

Zoom Video Comms (NASDAQ:ZM) reported Q2 earnings of $1.34 per share, beating the analyst consensus estimate of $1.05 by 27.62%. The company also reported quarterly sales of $1.14 billion, surpassing the analyst consensus estimate of $1.11 billion by 2.59%. Both earnings and sales show an increase compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2023 | 8:06 pm

SGMT

Sagimet Biosciences reported Q2 losses of $(35.80) per share, a 6.7% improvement from $(38.37) per share losses in the same period last year. The company's cash and cash equivalents stood at $18.5M as of June 30, 2023.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2023 | 8:03 pm

Zoom Video Communications, Inc. (NASDAQ:ZM) shares are trading higher ahead of its Q2 earnings report. The company is expected to report earnings of $1.05 per share and revenue of $1.11 billion. The stock has been affected by various factors recently, including rising COVID-19 concerns, Fitch's downgrade of the U.S. long-term credit rating, and weakness in Netflix and Tesla's quarterly reports. However, it has also benefited from the company's increased technical investments in the Asia-Pacific region.

Portfolio Pulse from Ryan Gustafson

August 21, 2023 | 7:50 pm

AMAT

Applied Materials, Inc (NASDAQ:AMAT) has reported Q3 results that beat expectations, with revenue of $6.43 billion and pro forma EPS of $1.90. The company's October quarter guide also came in above consensus estimates. However, Susquehanna analyst Mehdi Hosseini has expressed uncertainty about the company's backlog, noting that it has been declining quarter over quarter and is expected to show a year over year decline soon. Goldman Sachs analyst Toshiya Hari maintained a Buy rating for AMAT and raised the price target from $135 to $155.

Portfolio Pulse from Anusuya Lahiri

August 21, 2023 | 7:24 pm

Telsey Advisory Group analyst Joseph Feldman reiterated an Outperform rating on Dollar General Corporation (NYSE:DG) with a price target of $185. Dollar General is expected to report 2Q23 earnings on August 31. The company is expected to benefit from strength in consumables and value-priced merchandise, but this could be offset by reduced SNAP benefits, weakness in discretionary categories, and elevated operating costs. Feldman forecasts 2Q23 EPS of $2.54 vs. the FactSet consensus of $2.49.

Portfolio Pulse from Nabaparna Bhattacharya

August 21, 2023 | 7:13 pm

AYRWF

TRSSF

Q2 2023 earnings releases for cannabis companies have shown that many beat their EBITDA estimates, but full-year projections tell a different story. Analysts had lowered EBITDA estimates, making it easier for companies to beat the consensus. However, six of the fourteen largest MSOs, including the five largest, have lower expected 2023 EBITDA than actual 2022 EBITDA. The group, in aggregate, is projected to be down 3.2% for 2023. Aggressive inventory management is likely to restrain the 2nd half EBITDA snapback. TerrAscend (OTC:TRSSF) and AYR’s (OTC:AYRWF) are mentioned as potential exceptions.

Portfolio Pulse from Viridian Capital Advisors

August 21, 2023 | 7:10 pm

CRM

GOOG

GOOGL

MSFT

NVDA

PLTR

Nvidia Corp (NASDAQ:NVDA) is set to report earnings on Aug. 23, with expectations that strong results could ignite a tech rally. Wedbush analyst Dan Ives believes Nvidia's earnings could fuel a move higher in tech for the rest of the year, and that the company could be on pace to double its revenues over the next two years. Nvidia's earnings will also impact other AI leaders like Microsoft Corp (NASDAQ:MSFT) and Alphabet Inc (NASDAQ:GOOG)(NASDAQ:GOOGL), as well as Salesforce Inc (NYSE:CRM) and Palantir Technologies Inc (NYSE:PLTR).

Portfolio Pulse from Adam Eckert

August 21, 2023 | 7:00 pm

MRNA

NKLA

NSSC

PANW

SLGG

TMBR

US stocks traded mixed with the Nasdaq Composite gaining around 1.5%. Palo Alto Networks (PANW) reported better-than-expected Q4 earnings and issued a strong billings outlook, causing its shares to rise by 15%. Timber Pharmaceuticals (TMBR) shares shot up 99% as it agreed to be acquired by LEO US Holding. Moderna (MRNA) shares were up 10% as preliminary clinical trial data confirmed its updated COVID-19 vaccine showed a significant boost in neutralizing antibodies. Super League Gaming (SLGG), Napco Security Technologies (NSSC), and Nikola Corporation (NKLA) shares fell by 47%, 47%, and 21% respectively.

Portfolio Pulse from Lisa Levin

August 21, 2023 | 6:51 pm

BBY

Telsey Advisory Group analyst Joseph Feldman reiterated a Market Perform rating on Best Buy Co., Inc. (NYSE:BBY) with a price target of $78. Feldman expects Best Buy's Q2 revenues to decline due to challenging macro trends. However, he believes the company will offset these challenges with solid execution and initiatives, including the new My Best Buy membership program. BBY shares are currently trading higher by 0.17% to $78.72.

Portfolio Pulse from Nabaparna Bhattacharya

August 21, 2023 | 6:40 pm