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Earnings

RIVN

TSLA

Rivian Automotive, Inc. (NASDAQ:RIVN) stock fell in premarket trading on Tuesday after a nine-session winning run. The rise was due to multiple factors including a partnership with Tesla, Inc. (NASDAQ:TSLA), better-than-expected Q2 deliveries, and optimism about its EV uptake. Analysts have upgraded their view of the stock, with an average price target of $24. The next major catalyst is the company's earnings report due on Aug. 8, where a narrower loss and a revenue climb of 158% are expected.

Portfolio Pulse from Shanthi Rexaline

July 11, 2023 | 11:39 am

PTN

Palatin Technologies, Inc. (NYSE:PTN) announced preliminary Q4 results for its Vyleesi product, showing a 122% YoY increase in net product revenue to $1.7M. Gross product revenue was $4.1M, a 78% increase over the same quarter in 2022. Prescriptions dispensed also increased by 89% over the comparable quarter in 2022.

Portfolio Pulse from Benzinga Newsdesk

July 11, 2023 | 11:36 am

WDFC

WD-40 reported third quarter results that exceeded expectations, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

July 11, 2023 | 11:30 am

ALLG

ETRN

IOVA

JBLU

NVO

NYAX

VOXX

VRDN

Several stocks are recording losses in today's pre-market trading session. These include Viridian Therapeutics, VOXX International, Iovance Biotherapeutics, Equitrans Midstream, Allego, Nayax, JetBlue Airways, Novo Nordisk, and Alcoa Corporation. The reasons for the declines vary from disappointing quarterly results to downgrades by research firms.

Portfolio Pulse from Lisa Levin

July 11, 2023 | 11:21 am

UBER

Uber's CFO, Nelson Chai, plans to leave the company, marking the most significant executive departure since Uber's IPO in 2019. Chai played a crucial role in improving Uber's earnings, cash flow, and operating profitability. Under his tenure, Uber made significant acquisitions and achieved its first-ever quarter of positive adjusted Ebitda. Uber's Q1 FY23 revenue grew by 29% YoY to $8.82 billion, beating the consensus of $8.72 billion.

Portfolio Pulse from Anusuya Lahiri

July 11, 2023 | 11:20 am

APG

APi Group expects to deliver a strong Q2 with high-single-digit organic net revenue growth, gross and adjusted EBITDA margin expansion, and improved free cash flow conversion compared to the previous year. The company's Q2 2023 adjusted EBITDA is expected to be at or above the midpoint of the financial guidance provided on May 4, 2023.

Portfolio Pulse from Benzinga Newsdesk

July 11, 2023 | 11:18 am

GFS

GlobalFoundries has announced that its Q2 guidance, which was provided on May 9, remains unchanged.

Portfolio Pulse from Benzinga Newsdesk

July 11, 2023 | 11:13 am

VOXX

VOXX International Corporation reported a Q1 FY24 revenue decline of 13.1% Y/Y to $111.9 million, missing the consensus of $122.3 million. Net sales declined in both the Automotive Electronics and Consumer Electronics segments. The company reported a loss per share of $(0.45), missing the consensus loss of $(0.22). VOXX shares traded lower by 13.7% to $9.79 premarket on the last check Tuesday.

Portfolio Pulse from Lekha Gupta

July 11, 2023 | 10:53 am

NTR

Nutrien has announced a reduction in production at its Cory Potash Mine due to a strike at the Port of Vancouver. This, along with other factors such as the ILWU strike, Portland terminal outage, and lower global potash prices, is expected to cause Nutrien's full-year 2023 Potash adjusted EBITDA to fall below its previous guidance range.

Portfolio Pulse from Benzinga Newsdesk

July 11, 2023 | 10:47 am

CHH

Choice Hotels has projected that it will generate more than 10% adjusted EBITDA growth at the midpoint in 2024.

Portfolio Pulse from Benzinga Newsdesk

July 11, 2023 | 10:37 am