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Earnings

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

NICE

NICE Ltd reported a 10% YoY growth in Q2 FY23 non-GAAP revenue to $581.11 million, beating the consensus of $578.68 million. Non-GAAP revenues from Cloud grew 23% YoY to $381.9 million. The company raised its FY23 Non-GAAP total revenues outlook from $2.35 billion-$2.37 billion to $2.353 billion-$2.373 billion. However, NICE shares traded lower by 2.12% at $207.00 in the premarket session.

Portfolio Pulse from Nabaparna Bhattacharya

August 17, 2023 | 12:17 pm

ALL

Allstate Corporation (NYSE:ALL) reported estimated catastrophe losses of $313 million for July 2023, or $247 million after-tax. The losses include 18 events primarily related to wind and hail events. The company also implemented auto rate increases of 8.2% across 12 locations, resulting in a total brand premium impact of 0.9%. The rate increases are expected to raise annualized written premiums by approximately $2.19 billion for auto insurance and $804 million for homeowners insurance.

Portfolio Pulse from Happy Mohamed

August 17, 2023 | 12:17 pm

TGT

Target Corporation reported Q2 FY23 sales of $24.77 billion, a 4.9% YoY decline, missing analyst consensus of $25.18 billion. Adjusted EPS of $1.80 beat the consensus of $1.39. However, Target lowered its FY23 adjusted EPS guidance from $7.75-$8.75 to $7.00-$8.00 and expects a mid-single-digit decline in comparable sales. Following the earnings announcement, Goldman Sachs, B of A Securities, and BMO Capital all lowered their price targets on Target.

Portfolio Pulse from Lisa Levin

August 17, 2023 | 12:14 pm

STIX

Semantix (NASDAQ:STIX) reported Q2 sales of $9.70 million, a 42.60% decrease from $16.89 million in the same period last year. The company also reported a net loss of $7.28 million.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 12:12 pm