Streetbeat News

Earnings

EL

Estee Lauder has projected its FY24 earnings per share (EPS) to be between $3.43 and $3.70, which is higher than the estimated $3.36. The company also anticipates a revenue growth of 5% - 7% for FY24.

Portfolio Pulse from Benzinga Newsdesk

August 18, 2023 | 10:55 am

AMAT

BILL

FTCH

QQQ

ROST

SPY

US stock futures indicate a slow start for Friday, with no strong driving force to push the market. Economist David Rosenberg suggests a new bear phase may be entering the market. Strong economic data released on Thursday sent major averages lower. All S&P sector classes, except energy stocks, closed in negative terrain. The S&P 500 Index is down 4.8% from the late-July peak. In premarket trading on Friday, the SPDR S&P 500 ETF Trust (NYSE:SPY) moved down 0.10% and the Invesco QQQ ETF (NASDAQ:QQQ) fell 0.23%. Stocks in focus include Bill Holdings, Inc. (NYSE:BILL), Farfetch Ltd. (NYSE:FTCH), Ross Stores, Inc. (NASDAQ:ROST), and Applied Materials, Inc. (NASDAQ:AMAT).

Portfolio Pulse from Shanthi Rexaline

August 18, 2023 | 10:55 am

VIPS

Vipshop Holdings Ltd reported Q2 FY23 revenue growth of 13.6% Y/Y to $3.84 billion, beating the consensus. GMV increased by 24.5% Y/Y and the number of active customers grew by 9.6% Y/Y. The company also reported an expansion in gross margin and non-GAAP operating margin. Despite these positive results, VIPS shares are trading lower by 5.739% premarket.

Portfolio Pulse from Lekha Gupta

August 18, 2023 | 10:52 am

BKE

Buckle (NYSE:BKE) reported Q2 earnings of $0.92 per share, beating the analyst consensus estimate of $0.81 by 13.58%. However, this is a 8.91% decrease from the same period last year. The company also reported quarterly sales of $292.43 million, beating the estimate of $290.36 million by 0.71%, but this is a 3.16% decrease from last year.

Portfolio Pulse from Benzinga Newsdesk

August 18, 2023 | 10:51 am

EL

Estee Lauder Cos reported Q4 adjusted losses of $(0.21) per share, missing the analyst consensus estimate of $(0.03) by 600%. However, the company's quarterly sales of $3.61 billion beat the analyst consensus estimate of $3.47 billion by 4.03%.

Portfolio Pulse from Benzinga Newsdesk

August 18, 2023 | 10:50 am

TSLA

XPEV

XPeng Inc reported a Q2 FY23 sales decline of 31.9% YoY, beating the consensus. However, its non-GAAP net loss per ADS missed the consensus. The company's vehicle deliveries decreased by 32.6% YoY. Revenues from vehicle sales also decreased by 36.2% YoY. Despite these headwinds, the company sees momentum with the launch of XPENG G6. The company expects Q3 vehicle deliveries and revenue to increase YoY. XPEV shares fell by 6.45% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

August 18, 2023 | 10:49 am

STG

Sunlands Technology (NYSE:STG) reported Q2 earnings of $1.73 per ADS, a 37.3% increase YoY. However, sales decreased by 12.4% to $72.59 million compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 18, 2023 | 10:12 am

XPEV

XPeng reported mixed Q2 earnings and a lower-than-expected Q3 revenue outlook, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

August 18, 2023 | 10:10 am

DE

Deere has increased its FY23 net income attributable outlook from $9.25B-$9.50B to $9.75B-$10.00B.

Portfolio Pulse from Benzinga Newsdesk

August 18, 2023 | 10:08 am

DE

Deere (NYSE:DE) reported Q3 earnings of $10.20 per share, beating the analyst consensus estimate of $8.20 by 24.39%. This is a 65.58% increase from the same period last year. The company also reported quarterly sales of $15.80 billion, beating the analyst consensus estimate of $14.25 billion by 10.88%. This is a 12.05% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 18, 2023 | 10:06 am