Streetbeat News

Earnings

PSMT

Pricesmart reported Q3 earnings of $0.94 per share, beating the analyst consensus estimate of $0.85 by 10.59%. This is a 51.61% increase from the same period last year. However, the company's quarterly sales of $1.07 billion missed the analyst consensus estimate of $1.10 billion by 2.70%. This is a 3.81% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 10, 2023 | 8:02 pm

TDOC

Teladoc Health, Inc. (TDOC) shares are trading higher after the company announced it will release its Q2 2023 results on July 25. The company is expected to report a loss of 41 cents per share with revenue of $649.39 million. TDOC stock experienced above-average trading volume and increased short interest. Vanguard also filed a FormSC13G, indicating a passive stake in the company.

Portfolio Pulse from Ryan Gustafson

July 10, 2023 | 7:39 pm

NIO

RIVN

TAN

TSLA

Despite an upgraded price target from Jeffries analyst Phillipe Houchois, Tesla Inc’s (NASDAQ:TSLA) stock was trading down nearly 2% on Monday. Other electric-vehicle companies, like Rivian Automotive Inc (NASDAQ:RIVN) and Nio Inc - ADR (NYSE:NIO) traded up by about 3% and 7% respectively. The Invesco Solar ETF (NYSE:TAN) was also trading up by about 2% on Monday. Tesla is preparing to release its Q2 earnings next week.

Portfolio Pulse from Aaron Bry

July 10, 2023 | 7:23 pm

BECN

Beacon Roofing Supply, Inc. (NASDAQ:BECN) has released its Q2 preliminary results, expecting net sales of around $2.5 billion and gross margins of about 25.4%. The company plans to buy back 400,000 outstanding shares of Series A Preferred stock from CD&R for $804.5 million, which is expected to raise leverage to 2.9x. The repurchase will reduce the diluted share count by 9.69 million shares and discontinue preferred dividends of $24 million per year. BECN shares are trading higher by 1.66% to $83.95.

Portfolio Pulse from Nabaparna Bhattacharya

July 10, 2023 | 7:02 pm

CNK

Benchmark analyst Mike Hickey reiterated a Buy rating for Cinemark Holdings Inc (CNK) with a $19 price target. Hickey expects CNK to release 2Q FY23 results on August 4, with revenues and AEBITDA increasing by 11% and 20% respectively. The domestic box office (DBO) exceeded expectations in the quarter, leading to raised growth targets. Despite the gradual recovery, Hickey believes the DBO will exceed pre-pandemic performance in the long term. CNK shares traded higher by 3.39% at $16.16.

Portfolio Pulse from Anusuya Lahiri

July 10, 2023 | 6:59 pm

PRI

Truist Securities analyst Mark Hughes has reiterated a Buy rating on Primerica, Inc. (NYSE:PRI), raising the price target to $240 from $220. Hughes sees a meaningful acceleration in transaction volume for Primerica, which is a positive indicator of the company's Q2 fundamentals. The analyst also raised the 2023 and 2024 EPS estimates and the Q2 EPS estimate. The upswing is based on the stronger performance of the S&P 500 impacting the Investment & Savings Product (ISP) segment. Hughes remains optimistic about Primerica's highly-recurring Term Life revenue model and potential to benefit from increased policy demand.

Portfolio Pulse from Nabaparna Bhattacharya

July 10, 2023 | 6:15 pm

SOFI

SoFi Technologies, Inc. (NASDAQ:SOFI) shares are trading higher today. The stock has been volatile since the U.S. Supreme Court blocked Biden's student loan forgiveness program, causing a nearly 10% drop. However, the stock has shown signs of recovery. Over 15% of available shares are currently being sold short. The company has received several price target changes throughout the month, ranging from $3 to $14. SoFi is set to report its Q2 earnings on July 31.

Portfolio Pulse from Ryan Gustafson

July 10, 2023 | 6:02 pm

CAMP

ETWO

HELE

PSMT

SAR

VOXX

WDFC

Earnings reports are scheduled for July 10, 2023. Companies reporting before the bell include Helen Of Troy (HELE) with projected earnings of $1.60 per share on revenue of $465.36 million. Companies reporting after the bell include VOXX International (VOXX), Saratoga Investment (SAR), CalAmp (CAMP), WD-40 (WDFC), E2open Parent Holdings (ETWO), and Pricesmart (PSMT).

Portfolio Pulse from Benzinga Insights

July 10, 2023 | 5:50 pm

SCHW

JMP Securities analyst Devin Ryan has upgraded Charles Schwab Corp (NYSE:SCHW) to Market Outperform from Market Perform with a price target of $73. Ryan expects challenging Q2 operating results in Financial Services and FinTech industry, but sees stabilization in cash sorting in the retail brokerage and wealth management category. The analyst revised the estimate for EPS to $0.69 from $0.79 for Q2 2023, and to $3.20 from $3.45 for 2023. For 2024, the EPS estimate is now $3.80, down from $3.90.

Portfolio Pulse from Lekha Gupta

July 10, 2023 | 5:45 pm

COTY

Coty's shares are trading higher due to overall market strength. The company has recently raised its Q4 and 2023 guidance.

Portfolio Pulse from Benzinga Newsdesk

July 10, 2023 | 5:14 pm