Streetbeat News

Earnings

TGT

Target has revised its Q3 and full-year guidance downwards. The company now expects Q3 GAAP and Adjusted EPS of $1.20 to $1.60, compared to the previous estimate of $1.84. Full-year GAAP and Adjusted EPS are now expected to be between $7.00 and $8.00, down from the prior range of $7.75 to $8.75. Target also expects a mid-single digit decline in comparable sales for the remainder of the year.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 10:34 am

TGT

Target has lowered its FY2023 adjusted EPS guidance from $7.75-$8.75 to $7.00-$8.00, below the $7.79 estimate. The company expects comparable sales to decline in mid-single digits for the rest of the year due to recent sales trends.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 10:33 am

TGT

Target Corporation's Q2 report shows a decrease in traffic by 4.8%, comparable store sales by 4.3%, and comparable digital sales by 10.5%.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 10:32 am

TGT

Target Corporation (NYSE:TGT) reported Q2 earnings of $1.80 per share, beating the analyst consensus estimate of $1.39 by 29.5%. This is a 361.54% increase from the same period last year. However, the company's quarterly sales of $24.77 billion missed the analyst consensus estimate of $25.18 billion by 1.62%, marking a 4.85% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 10:30 am

JD

JD.com reported Q2 earnings of $0.74 per share, beating the analyst consensus estimate of $0.66 by 12.12%. This is a 21.31% increase from the same period last year. The company also reported quarterly sales of $39.71 billion, beating the estimate of $38.71 billion by 2.58%, but a 0.61% decrease from last year.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 10:12 am

CRWS

Crown Crafts (NASDAQ:CRWS) reported Q1 earnings of $0.04 per share, a 71.43% decrease YoY. However, the company's sales increased by 8.99% to $17.12 million YoY.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 10:07 am

COHR

Coherent Inc. reported Q4 results and provided a below-consensus outlook for Q1 and FY24, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 10:06 am

OCFT

OneConnect Financial Tech (NYSE:OCFT) reported Q2 losses of $(0.32) per share, missing the analyst consensus estimate of $(0.30) by 7 percent. However, this is a 67.9 percent increase over losses from the same period last year. The company's quarterly sales of $139.01 million beat the analyst consensus estimate of $138.35 million by 0.47 percent, despite a 19.07 percent decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 10:03 am

COHR

GOEV

MRCY

NIO

SPGC

TMC

TSEM

VFS

Several stocks are recording losses in today's pre-market trading session. Sacks Parente Golf shares tumbled 27.9% after announcing the pricing of its $12.8 million IPO. Coherent Corp shares declined 21.9% following the company's Q4 results. VinFast Auto shares fell 11.9% after recently completing its SPAC merger. Tower Semiconductor and Intel mutually agreed to terminate their merger deal, leading to an 11.8% dip in Tower Semiconductor shares. Mercury Systems shares declined 10.2% after reporting weaker-than-expected Q4 results and a weak FY24 forecast. TMC the metals company shares fell 5.5%, Canoo Inc fell 5% following its Q2 results, and NIO Inc fell 4% ahead of its Q2 2023 results announcement.

Portfolio Pulse from Lisa Levin

August 16, 2023 | 10:01 am

COHR

Coherent Inc. has projected its FY24 revenue to be between $4.5B and $4.7B, which is lower than the estimated $5.1B. The company also expects its adjusted EPS to be between $1.00 and $1.50, significantly lower than the estimated $2.96.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 9:56 am