Streetbeat News

Earnings

SIBN

Needham analyst David Saxon reiterated a Buy rating on SI-BONE, Inc (NASDAQ:SIBN), raising the price target to $32 from $27. The analyst expects SIBN to beat and raise in 2Q and sees further upside to 2H23 estimates. Factors such as sales force expansion, surgeon training, new product launches, and increased market penetration are expected to drive quarterly revenue growth. SIBN is predicted to end 2Q with >$150 million in cash and equivalents. The analyst also forecasts an upside on the bottom line throughout 2023.

Portfolio Pulse from Nabaparna Bhattacharya

July 12, 2023 | 5:18 pm

BJRI

Wedbush analyst Nick Setyan has reiterated an Outperform rating on BJ's Restaurants Inc (BJRI) with a price target of $38. The analyst's Q2 checks point to same-store-sales (SSS) growth in line with the consensus of 4.4%. Positive factors include improved guest traffic, sustained off-premise sales, and improved staffing levels. The analyst also lowered Q2 labor estimate to 36.8% from 37.0% and increased the 2023 and 2024 EPS estimates. BJRI shares are trading higher by 10% at $35.15.

Portfolio Pulse from Shivani Kumaresan

July 12, 2023 | 4:56 pm

DIS

Walt Disney Co's theme parks are experiencing their quietest period in a decade, with the shortest wait times in nearly 10 years reported over the Fourth of July weekend. Disney executives have warned that park earnings may be down in 2023. The company's feud with Florida Governor Ron DeSantis and high prices could be potential reasons for the drop in attendance.

Portfolio Pulse from Aaron Bry

July 12, 2023 | 4:49 pm

SNAP

Snap, Inc. (NYSE:SNAP) shares are moving higher, adding to the stock's climb over the last 30 days. The stock is moving higher on heavy trading volume despite a lack of company specific news. Snap shares have gained more than 10% over the last two trading sessions, and the stock has surged more than 30% over the last month. Snap CEO Evan Spiegel said the company's MyAI chatbot, which was released in February, already has 150 million users and could drive higher revenues. Snap will release its second-quarter financial results on July 25.

Portfolio Pulse from Erica Kollmann

July 12, 2023 | 4:46 pm

GHG

GreenTree Hospitality Group Ltd. (NYSE:GHG) reported preliminary Q1 2023 results, expecting revenues of $54 million-$56.7 million. The company opened 91 new hotels, and total revenues from organic hotels increased by 16.8% YoY to $36.8 million. The revenue per available room (RevPAR) recovered to 94.3% of its Q1 2019 level. The restaurant business is estimated to have generated a combined unaudited revenue of about $17.3 million to $19.9 million. GHG shares are trading higher by 2.85% to $5.42.

Portfolio Pulse from Nabaparna Bhattacharya

July 12, 2023 | 3:57 pm

WFC

Wells Fargo & Co (WFC) shares are trading higher by 1.12% amid overall market strength following a lighter-than-expected June inflation report. The company's second-quarter earnings report is expected on Friday, with an estimated revenue of $20.08 billion and EPS of $1.17. The U.S. CPI inflation in June decelerated more than anticipated, reinforcing investor expectations of a single rate hike by the Federal Reserve.

Portfolio Pulse from Henry Khederian

July 12, 2023 | 3:55 pm

SOFI

SoFi Techs has an option alert for January 19 with $10 calls sweep near the ask price of $1.45. This is compared to an open interest of 51,219. The company's earnings will be announced on July 31 before the market opens. The reference price is $9.085.

Portfolio Pulse from Charles Gross

July 12, 2023 | 3:55 pm

CAG

RBC Capital Markets analyst Nik Modi reiterated a Sector Perform rating on ConAgra Brands, Inc. (NYSE:CAG), with a price target of $38. The company is expected to release its fiscal 2023 fourth-quarter results on July 13, 2023. The analyst expects modest growth driven by pricing and impacts from supply chain disruptions. The analyst forecasts organic sales +2.8% and EPS of $0.58 for 4Q23. ConAgra is expected to face disruptions due to the temporary operation disruption of its partner Americold. The analyst estimates revenue growth of 2.7% year over year in the fourth quarter to $2.987 billion.

Portfolio Pulse from Nabaparna Bhattacharya

July 12, 2023 | 3:24 pm

VRNA

Verona Pharma (VRNA) has seen a significant increase in the number of $25 calls for September 15, with 925 calls at $1.7, compared to an open interest of 8316. The company is expected to release its earnings on August 8 before the market opens.

Portfolio Pulse from Charles Gross

July 12, 2023 | 3:22 pm

META

Meta Platforms, Inc. (NASDAQ:META) shares are on the rise following the successful launch of the company's new app, Threads. The stock has gained nearly 5% since the app's release on July 6 and is up over 16% in the last 30 days. Threads has received over 100 million sign-ups in the first five days of its release. Meta will announce its Q2 financial results on July 26.

Portfolio Pulse from Erica Kollmann

July 12, 2023 | 3:21 pm