Streetbeat News

Earnings

BB

BlackBerry Ltd (NYSE:BB) saw a surge of over 13% following better-than-expected Q1 earnings. The company reported earnings of 6 cents per share on revenues of $373 million, significantly beating analyst estimates. This led to a rush of bullish traders, driving the stock up towards a resistance level near $5.50. The surge also negated BlackBerry's current downtrend.

Portfolio Pulse from Melanie Schaffer

June 29, 2023 | 2:42 pm

WOR

Worthington Industries' shares are trading higher following the company's announcement of better-than-expected Q4 EPS results.

Portfolio Pulse from Benzinga Newsdesk

June 29, 2023 | 2:30 pm

CCJ

An option alert has been issued for Cameco with Aug 18 $35 calls sweep near the ask of 14000 @ $0.421 vs 971 open interest. The earnings are expected to be announced on 7/26 before the market opens. The reference price is $30.69.

Portfolio Pulse from Charles Gross

June 29, 2023 | 2:22 pm

AYI

Acuity Brands, Inc reported a 5.7% YoY decline in Q3 FY23 net sales to $1.0 billion, missing the consensus of $1.05 billion. However, its adjusted EPS of $3.75 beat the consensus of $3.71. The company also completed the acquisition of KE2 Therm and continued to repurchase its shares. Despite the sales decline, the company expanded its adjusted operating profit margin and generated strong cash flow from operations.

Portfolio Pulse from Anusuya Lahiri

June 29, 2023 | 2:03 pm

STZ

Constellation Brands (NYSE:STZ) is set to release its latest quarterly earnings report on June 30, 2023. Analysts estimate an earnings per share (EPS) of $2.83. The company's stock performance has been generally positive over the last 52-week period, with shares up 5.16%. Last quarter, the company beat EPS estimates by $0.16, but this was followed by a 0.0% drop in the share price the next day.

Portfolio Pulse from Benzinga Insights

June 29, 2023 | 2:00 pm

FL

NKE

Nike Inc (NYSE:NKE) is set to report its Q4 financial results, with analysts expecting an EPS of 67 cents and revenue of $12.59 billion. The company has consistently beaten earnings and revenue estimates in recent quarters. However, analysts have lowered their price targets on Nike stock ahead of the earnings report, citing concerns over sportswear demand, potential inventory increases, and China's growth. Foot Locker's (NYSE:FL) recent Q1 results, which showed a decline in revenue and same-store sales, could also indicate potential weakness for Nike.

Portfolio Pulse from Chris Katje

June 29, 2023 | 1:50 pm

HERTF

Heritage Cannabis Holdings Corp. reported a 1.5% YoY decrease in Q2 FY23 revenue, with net revenue of CA$7.4 million ($5.6 million). The company's gross margin increased due to improved production efficiencies and a lower excise rate. However, comprehensive loss increased to CA$2 million due to higher interest costs and unrealized losses on derivative liabilities. The company's entry into the U.S. market is performing well, with facilities in Missouri and West Virginia gaining a strong foothold.

Portfolio Pulse from Vuk Zdinjak

June 29, 2023 | 1:48 pm

LNN

Lindsay Corporation (NYSE:LNN) reported a Q3 FY23 operating revenue decline of 23.2% YoY to $164.55 million, missing the consensus of $208.40 million. EPS of $1.53 also missed the street view of $2.15. The company cited economic uncertainty and negative farmer sentiment as reasons for the decline. The company's shares are trading lower by 6.54%.

Portfolio Pulse from Nabaparna Bhattacharya

June 29, 2023 | 1:46 pm

ERIC

Shares of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) are trading higher by 3.88% to $5.35 in sympathy with BlackBerry Ltd, which reported better-than-expected Q1 FY2024 results. BlackBerry's Cybersecurity business unit achieved sequential revenue and billings growth, with total company revenue of $373 million, IoT revenue of $45 million, and Cybersecurity revenue of $93 million. BlackBerry's total cash and investments increased by $91 million to reach $578 million.

Portfolio Pulse from Henry Khederian

June 29, 2023 | 1:32 pm

PAYX

Paychex, Inc reported Q4 FY23 revenue growth of 7% YoY to $1.23 billion, beating the consensus of $1.22 billion. Total service revenue grew 7% YoY to $1.20 billion. Operating income increased by 15% YoY to $453.3 million. For FY23, Paychex expects revenue to grow by 6% - 7%, and adjusted EPS to grow by 9% - 10%. Following the announcement, PAYX shares traded higher by 2.16% at $113.10 premarket.

Portfolio Pulse from Anusuya Lahiri

June 29, 2023 | 1:21 pm