Streetbeat News

Earnings

ACI

KR

Kroger announced a 12% increase in its annual dividend to $1.16, marking the 17th consecutive year of dividend growth. The company reported 1.3% YoY sales growth in Q1 FY23 but missed analyst consensus. Kroger has paused its share repurchase program to prioritize de-leveraging following the proposed merger with Albertsons Companies.

Portfolio Pulse from Lekha Gupta

June 22, 2023 | 4:53 pm

UBER

Uber Technologies Inc (NYSE:UBER) is cutting 200 jobs in its recruitment division to streamline costs, impacting less than 1% of its global workforce. This follows the layoff of 150 employees in Uber's Freight earlier this year. The company reported Q1 FY23 revenue growth of 29% YoY to $8.82 billion.

Portfolio Pulse from Lekha Gupta

June 22, 2023 | 4:35 pm

INM

InMed Pharmaceuticals' stock is trading lower after releasing safety and efficacy results from its Phase 2 clinical trial for symptoms related to Epidermolysis Bullosa (EB). The trial showed mixed results, with some patients experiencing improvement with INM-755 cannabinol cream, while others did not. The company plans to seek R&D and commercial partnership opportunities for further development.

Portfolio Pulse from Vandana Singh

June 22, 2023 | 4:28 pm

GIS

K

Kellogg Company (NYSE:K) has been upgraded from Underperform to Market Perform by Bernstein analyst Alexia Howard, who cited the company's improved earnings outlook. Despite trading at a five-year low, Kellogg has consistently outperformed analyst forecasts during and after the pandemic.

Portfolio Pulse from Priya Nigam

June 22, 2023 | 4:28 pm

MEI

Methode Electronics (NYSE: MEI) reported Q4 FY23 net sales growth of 4.3% YoY to $301.2 million, beating the consensus of $297.45 million. However, adjusted EPS of $0.21 missed the consensus of $0.45. The company's debt increased to $306.8 million, and it exited the quarter with $157 million in cash. The fiscal 2024 and 2025 guidance remains unchanged.

Portfolio Pulse from Nabaparna Bhattacharya

June 22, 2023 | 4:24 pm

FDS

FactSet Research Systems expects FY23 GAAP revenues and Organic ASV plus professional services growth to be at the lower end of its guidance ranges, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

June 22, 2023 | 4:24 pm

MEI

Methode Electronics reported mixed Q4 results, leading to a decline in its share price.

Portfolio Pulse from Benzinga Newsdesk

June 22, 2023 | 4:21 pm

FDX

FedEx shares are recovering after a drop following the company's Q4 revenue results, FY24 outlook, and the CFO's comments on margin contractions.

Portfolio Pulse from Benzinga Newsdesk

June 22, 2023 | 4:07 pm

FDS

FactSet Research Systems reported Q3 FY23 sales growth of 8.4% YoY to $529.81 million, beating consensus estimates. Adjusted EPS of $3.79 also beat the consensus of $3.61. The company increased its FY23 adjusted operating margin guidance and announced a new share repurchase authorization of up to $300 million.

Portfolio Pulse from Nabaparna Bhattacharya

June 22, 2023 | 3:55 pm

CMC

Commercial Metals Company (CMC) reported better-than-expected Q3 results, leading to a higher stock price.

Portfolio Pulse from Benzinga Newsdesk

June 22, 2023 | 3:47 pm