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Earnings

GRRR

IFBD

NSSC

PANW

During Monday's pre-market session, several information technology stocks experienced significant movement. Gorilla Tech Gr, Infobird Co, Palo Alto Networks, CVD Equipment, Nano Labs, and Rekor Systems saw their stocks rise, with Palo Alto Networks reporting Q4 earnings and Nano Labs reporting H1 earnings. Conversely, NAPCO Security Techs, Sigma Additive Solutions, Soluna Holdings, WaveDancer, Cyngn, and Ascent Solar Technologies saw their stocks decrease.

Portfolio Pulse from Benzinga Insights

August 21, 2023 | 1:06 pm

PANW

Palo Alto Networks Inc's shares are trading higher after the company reported strong quarterly results and issued robust earnings guidance. The company's Q4 revenue increased 26% YoY to $1.95 billion, slightly missing consensus estimates of $1.96 billion. However, its earnings per share of $1.44 beat estimates of $1.28. The company also issued strong earnings guidance for Q1 and the full year. Several analysts have raised their price targets for the company following these results.

Portfolio Pulse from Adam Eckert

August 21, 2023 | 1:04 pm

CROX

HHC

PI

Insider trading has been observed in three US-listed companies: Impinj, Inc. (NASDAQ:PI), The Howard Hughes Corporation (NYSE:HHC), and Crocs, Inc. (NASDAQ:CROX). Impinj's director acquired shares worth $11.44 million following the company's positive Q2 results. Howard Hughes' director purchased shares worth $1.22 million despite the company reporting a larger than expected Q2 loss. Crocs' director bought shares worth around $200,016 after the company reported an 11.2% YoY sales growth in Q2 FY23.

Portfolio Pulse from Lisa Levin

August 21, 2023 | 1:01 pm

EL

Estee Lauder Companies Inc (NYSE:EL) reported better-than-expected Q4 FY23 earnings but issued weak guidance for FY24. The company's shares fell 3.3% following the announcement. Analysts from Telsey Advisory Group, Raymond James, and Citigroup have subsequently lowered their price targets for Estee Lauder.

Portfolio Pulse from Lisa Levin

August 21, 2023 | 12:53 pm

SABS

SAB Biotherapeutics reported Q2 2023 financial results with an EPS of $(0.14), down from $(0.11) YoY. The company's cash position was $7.8 million as of June 30, 2023, compared to $15.0 million on December 31, 2022. R&D expenses decreased due to cost reduction measures and a shift in focus to autoimmunity space with SAB-142. G&A expenses also decreased due to cost reduction measures and increased efficiencies. The net loss was $6.9 million for Q2 2023, compared to a net loss of $4.8 million for Q2 2022.

Portfolio Pulse from Happy Mohamed

August 21, 2023 | 12:36 pm

PANW

SLGG

SXTC

Several stocks have seen significant movement in pre-market trading. Notably, Palo Alto Networks, Inc. (NASDAQ:PANW) shares rose by 12.3% following better-than-expected Q4 earnings and a strong billings outlook. Other gainers include China SXT Pharmaceuticals, Inc. (NASDAQ:SXTC), Tian Ruixiang Holdings Ltd (NASDAQ:TIRX), and Adial Pharmaceuticals, Inc. (NASDAQ:ADIL). On the other hand, Super League Gaming, Inc. (NASDAQ:SLGG) and Napco Security Technologies, Inc. (NASDAQ:NSSC) shares fell significantly.

Portfolio Pulse from Lisa Levin

August 21, 2023 | 12:32 pm

ADIL

Adial Pharmaceuticals (NASDAQ:ADIL) reported its Q2 2023 financial results, revealing a cash position of $1.2M, down from $4M at the end of 2022. The company received positive feedback from US and EU regulatory meetings and is planning to conduct two Phase 3 trials with AD04. The sale of Purnovate significantly reduced the company's cash burn rate. Adial also received an upfront payment of $450K from Adovate, LLC for the purchase of Purnovate's assets and business, with potential for up to $83M in total consideration.

Portfolio Pulse from Happy Mohamed

August 21, 2023 | 12:32 pm

DE

Deere & Co (NYSE:DE) reported better-than-expected Q3 earnings with net sales and revenue growth of 12% Y/Y to $15.80 billion, beating the consensus of $14.25 billion. EPS of $10.20 also surpassed the consensus of $8.20. The company raised its FY23 outlook for net income to $9.75 billion-$10.00 billion from $9.25 billion-$9.50 billion. Despite the positive results, Deere shares fell 5.3% to close at $397.02 on Friday but added 0.3% in today’s pre-market trading session. JP Morgan, Credit Suisse, and UBS revised their price targets on Deere following the earnings announcement.

Portfolio Pulse from Lisa Levin

August 21, 2023 | 12:25 pm

TKC

Turkcell Iletisim reported better-than-expected Q2 financial results, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2023 | 12:18 pm

CRGO

Freightos (NASDAQ:CRGO) reported Q2 adjusted losses of $(0.10) per share, beating the analyst consensus estimate of $(0.14) by 28.57%. This is a 87.01% increase over losses of $(0.77) per share from the same period last year. The company also reported quarterly sales of $5.09 million, beating the analyst consensus estimate of $5.00 million by 1.86%. However, this is a 1.28% decrease over sales of $5.16 million the same period last year.

Portfolio Pulse from Happy Mohamed

August 21, 2023 | 12:05 pm