Streetbeat News

Earnings

AVAV

GIS

MU

TOVX

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General Mills, AeroVironment, UniFirst Corporation, Theriva Biologics, and Micron Technology are the stocks to watch on Wednesday. General Mills is expected to report quarterly earnings of $1.06 per share on revenue of $5.17 billion. AeroVironment reported downbeat earnings for its fourth quarter, while sales topped estimates. UniFirst Corporation is expected to have earned $1.79 per share on revenue of $564.18 million. Theriva Biologics received Orphan Drug Designation from the FDA for VCN-01 for the treatment of pancreatic cancer. Micron Technology is expected to post a quarterly loss at $1.57 per share on revenue of $3.67 billion.

Portfolio Pulse from Lisa Levin

June 28, 2023 | 8:12 am

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MU

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WBA

The CNN Money Fear and Greed index moved to the 'Extreme Greed' zone as U.S. stocks closed higher on Tuesday. Dow Jones recorded gains for the first time in seven days. Walgreens Boots Alliance shares dropped over 9% after the company lowered its full-year profit forecast and reported downbeat quarterly earnings. Investors are awaiting earnings results from General Mills, UniFirst Corporation, and Micron Technology.

Portfolio Pulse from Lisa Levin

June 28, 2023 | 6:32 am

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SPY

Jurrien Timmer, Director of Global Macro at Fidelity, believes the upcoming earnings season is crucial for justifying the current trend as an aspiring bull market. The S&P 500 is currently trending at about 19x its estimated 12-month earnings, above its historic average of 15.6x. Timmer suggests that the market's current valuation pivot will be justified if earnings bottom out late this year while showing just a modest drop. The SPDR S&P 500 ETF Trust (SPY) and the Invesco QQQ Trust Series 1 (QQQ) both saw gains recently.

Portfolio Pulse from Bhavik Nair

June 28, 2023 | 4:49 am

NG

Novagold Resources (AMEX:NG) reported its Q2 earnings, missing estimated earnings by 100.0% with an EPS of $-0.04 versus an estimate of $-0.02. Revenue was down $0 from the same period last year. Last quarter, the company also missed on EPS which was followed by a 7.94% drop in the share price the next day.

Portfolio Pulse from Benzinga Insights

June 27, 2023 | 9:45 pm

CYBN

Cybin (AMEX:CYBN) reported its Q4 earnings with an in-line EPS of $-0.05, the same as the estimate. The revenue was down $0 from the same period last year. Last quarter, the company beat the EPS by $0.02, which led to a 4.15% increase in the share price the next day.

Portfolio Pulse from Benzinga Insights

June 27, 2023 | 9:20 pm

JEF

Jefferies Financial Group Inc (NYSE:JEF) reported weak Q2 earnings with revenue of $1.04 billion in line with estimates, but EPS of 5 cents missed estimates of 27 cents. Investment banking revenue was down 26% YoY and capital markets revenue was down 30%. The company declared a quarterly cash dividend of 30 cents per common share and increased its share buyback authorization to $250 million.

Portfolio Pulse from Adam Eckert

June 27, 2023 | 9:14 pm

CYAN

Cyanotech (NASDAQ:CYAN) reported Q4 losses of $(0.23) per share, a 675% decrease from the same period last year. Sales also decreased by 33.67% to $5.39 million from $8.13 million YoY.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2023 | 9:05 pm

CYBN

Cybin reported a narrowed Q4 net loss of $10.1341 million. Under the previously announced $35 million ATM equity program, Cybin has the potential to issue and sell up to an additional $22 million of common shares, providing access to additional cash for growth opportunities and working capital.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2023 | 9:03 pm

PLTR

Shares of Palantir Technologies Inc (NYSE:PLTR) have more than doubled since the start of the year, largely driven by the AI boom and the company's positioning in the space. The rally in Palantir shares accelerated last month after the company reported better-than-expected quarterly results and guided for continued profitability in 2023. CEO Alex Karp highlighted extraordinary demand for the company's AI products in recent months, similar to Nvidia.

Portfolio Pulse from Ryan Gustafson

June 27, 2023 | 8:59 pm

AVAV

AeroVironment has issued strong guidance for FY24, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2023 | 8:53 pm