Streetbeat News

Earnings

HR

PI

TSVT

Insider trading has been observed in three healthcare stocks: Impinj, Inc. (PI), 2seventy bio, Inc. (TSVT), and Healthcare Realty Trust Incorporated (HR). Impinj and Healthcare Realty Trust posted upbeat Q2 results, while 2seventy bio reported a narrower Q2 loss. The insiders' purchases may indicate confidence in the companies' prospects.

Portfolio Pulse from Lisa Levin

August 17, 2023 | 1:02 pm

SNPS

Synopsys, Inc. (NASDAQ:SNPS) reported better-than-expected Q3 results with earnings of $2.88 per share and sales of $1.49 billion, beating analyst consensus estimates. The company estimates full-year revenue growth between 14% and 15%, and earnings per share growth between 24% and 25%. Following the earnings announcement, Keybanc, Baird, and Rosenblatt raised their price targets on Synopsys. The company also announced leadership changes with Sassine Ghazi becoming CEO effective Jan. 1.

Portfolio Pulse from Lisa Levin

August 17, 2023 | 12:55 pm

BILI

CVS

MOOD

Modular Medical partners with Phillips-Medisize to expand insulin delivery alternatives, causing a 45% increase in MOOD's stock. Bilibili's Q2 adjusted EPS of $(0.32) beats the $(0.35) estimate, and sales of $731.50M beat the $726.38M estimate, leading to a 7.8% increase in BILI's stock. Blue Shield of California collaborates with Amazon Pharmacy, Mark Cuban Cost Plus Drug Company, and others, with CVS Caremark providing specialty pharmacy services for members with complex conditions, causing an 8% decrease in CVS's stock.

Portfolio Pulse from ryanfaloona@benzinga.com

August 17, 2023 | 12:47 pm

TPR

Tapestry Inc's executive has projected that the company's Q1 earnings per share will approach $0.90.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 12:45 pm

CPRI

TPR

Tapestry Inc (NYSE:TPR) reported Q4 FY23 sales of $1.62 billion, missing the analyst consensus of $1.65 billion. EPS of $0.95 also missed the consensus of $0.97. However, gross profit rose to $1.17 billion from $1.12 billion a year ago. The company also provided a below-consensus outlook for FY24. Last week, Tapestry announced the acquisition of Capri Holdings (NYSE:CPRI) for $8.5 billion, expected to be completed in 2024.

Portfolio Pulse from Lekha Gupta

August 17, 2023 | 12:43 pm

RNXT

RenovoRx (NASDAQ:RNXT) reported Q2 losses of $(0.22) per share, beating the analyst consensus estimate of $(0.25) by 12 percent. This represents a 24.14 percent increase over losses of $(0.29) per share from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 12:39 pm

JD

JD.com reported Q2 FY23 revenue growth of 7.6% YoY to $39.7 billion, beating the consensus of $38.7 billion. Non-GAAP net income per ADS of $0.74 also beat the consensus of $0.66. Despite the positive results, JD.com shares fell 3% to close at $34.88 on Wednesday but added 2% in today's pre-market trading session. B of A Securities and Mizuho lowered their price targets on JD.com following the earnings announcement.

Portfolio Pulse from Lisa Levin

August 17, 2023 | 12:31 pm

ROMJF

Rubicon Organics Inc. reported its Q2 2023 financial results, showing a record net revenue of CA$11.3 million ($8.37 million), up by 28% YoY. The company also reported a significant reduction in net loss, positive Adjusted EBITDA for the fifth consecutive quarter, and positive operating cashflow for the fourth consecutive quarter. The company expects to see increased supply from partnerships and aims to achieve positive free cashflow for the full year.

Portfolio Pulse from Nina Zdinjak

August 17, 2023 | 12:23 pm

TJX

TJX Companies Inc reported better-than-expected Q2 earnings with sales growth of 8% YoY to $12.76 billion, beating the analyst consensus estimate of $12.45 billion. The company raised its FY24 adjusted EPS outlook to $3.56 - $3.62, against the consensus of $3.59. Following the earnings announcement, several analysts increased their price targets on TJX.

Portfolio Pulse from Lisa Levin

August 17, 2023 | 12:22 pm

LITE

Lumentum Holdings reported better than expected fourth-quarter results but provided a below-consensus guidance for the first quarter, leading to a drop in its share price.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 12:21 pm