Streetbeat News

Earnings

CTAS

Cintas (NASDAQ:CTAS) will host a conference call on July 13, 2023, to discuss Q4 2023 earnings results. The call will provide insights into the company's recent earnings and future performance expectations.

Portfolio Pulse from Benzinga Insights

June 30, 2023 | 5:05 pm

DBI

M

NKE

Morgan Stanley analyst Alex Straton reiterated an Overweight rating on Nike Inc (NASDAQ:NKE) but lowered the price target from $130 to $127. Nike's Q4 revenue growth was 10% Y/Y to $12.82 billion, beating the analyst consensus. However, EPS of $0.66 missed the analyst consensus of $0.67. The analyst noted that the wholesale deceleration on the back of partnership news with Macy’s Inc (NYSE:M) & Designer Brands Inc (NYSE:DBI) was better than feared. NKE shares are trading lower by 2.69% at $110.32.

Portfolio Pulse from Shivani Kumaresan

June 30, 2023 | 4:45 pm

ATXG

CNVS

In Friday's mid-day session, several stocks saw significant movement. Addentax Group Corp. (ATXG) shares jumped 47.3% following the launch of an AI internet operational tools project with top Games-as-a-Service firms. Cineverse Corp. (CNVS) fell 17.8% after reporting weak Q4 sales. Other notable movers include CymaBay Therapeutics, Inc. (CBAY), Cyteir Therapeutics, Inc. (CYT), and Renalytix Plc (RNLX).

Portfolio Pulse from Lisa Levin

June 30, 2023 | 4:34 pm

TOP

TOP Financial Group Limited reported fiscal year 2023 financial results, with a revenue increase of 24% to $9.7 million, up from $7.8 million in the previous year. The increase was due to trading gains, increase in revenue from trading solution services and interest income. However, the company reported 2023 earnings of 10 cents per share, down from 12 cents per share on a year-over-year basis. Following the announcement, TOP shares are trading 18.7% higher.

Portfolio Pulse from Erica Kollmann

June 30, 2023 | 4:21 pm

CNVS

Cineverse reported lower than expected Q4 revenue and a year-over-year decrease in Q4 EPS. The company also issued FY24 revenue guidance below estimates, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

June 30, 2023 | 4:05 pm

CRM

A significant investor has taken a bearish stance on Salesforce (NYSE:CRM), with 70% of the spotted trades being bearish. The targeted price range for Salesforce over the last 3 months is from $100.0 to $230.0. The current price of CRM is up 1.03% at $212.59. Analysts' price targets range from $153 to $250. The next earnings are expected in 54 days.

Portfolio Pulse from Benzinga Insights

June 30, 2023 | 3:46 pm

GIS

General Mills Inc (NYSE:GIS) reported a dip in revenue this fiscal year due to higher carrying costs of inventory and larger customers managing their balance sheets. Fiscal fourth quarter volumes dropped by 8% and 2% in the North America Retail and Pet divisions respectively. Despite the dip, General Mills reported fourth-quarter fiscal 2023 sales growth of 3% year-on-year, clocking $5.03 billion. The company currently has a dividend yield of 3.08%.

Portfolio Pulse from AJ Fabino

June 30, 2023 | 3:37 pm

NKE

Nike Inc (NYSE:NKE) shares declined after the company reported a rare earnings miss for its fiscal fourth quarter. Analysts from Wedbush, RBC Capital Markets, Telsey Advisory Group, and KeyBanc Capital Markets provided their insights. While some analysts raised their price targets, others reduced them. The company's recovery in China and inventory cleanup progress were highlighted positively, but the guidance for the next quarter was seen as below expectations.

Portfolio Pulse from Priya Nigam

June 30, 2023 | 3:09 pm

AMR

GSM

IPI

ORGN

RS

The article discusses value stocks in the basic materials sector, highlighting five companies: Alpha Metallurgical, Intrepid Potash, Reliance Steel & Aluminum, Ferroglobe, and Origin Mat. These companies have low P/E multiples, indicating they may be undervalued. The article also provides Q1 earnings per share and dividend yield data for each company.

Portfolio Pulse from Benzinga Insights

June 30, 2023 | 2:48 pm

ARMK

A 'golden cross' has formed on Aramark's (NYSE:ARMK) chart, which could be bullish for the stock. This occurs when the 50-day moving average crosses above the 200-day moving average, indicating a potential upward trend. Aramark's past and upcoming earnings expectations also show positive results.

Portfolio Pulse from Benzinga Insights

June 30, 2023 | 2:48 pm