Streetbeat News

Earnings

ORCL

Oracle Corporation exceeded Q4 earnings expectations, with its stock price increasing by nearly 6%. The company's success is attributed to its strategic shift towards cloud computing, backed by key acquisitions and partnerships, positioning Oracle Cloud Infrastructure as a major AI/Machine Learning development platform.

Portfolio Pulse from Zaheer Anwari

June 13, 2023 | 5:33 pm

CTLT

Catalent Inc (NYSE: CTLT) reported better-than-expected Q3 results with revenue of $1.04 billion and adjusted EBITDA of $105 million. The Biologics segment drove the top-line beat, but the company lowered its guidance for fiscal 2023. William Blair reiterated its Market Perform rating, citing limited upside and lack of visibility into fiscal 2024.

Portfolio Pulse from Vandana Singh

June 13, 2023 | 4:51 pm

COF

Capital One Financial (COF) sees a surge in demand for its July 21 $125 call options, with 7,416 contracts traded at $0.9, compared to an open interest of 112. Earnings are expected on July 20 after market close.

Portfolio Pulse from Charles Gross

June 13, 2023 | 4:43 pm

HCC

Warrior Met Coal (NYSE:HCC) has raised its FY23 guidance following the end of a labor strike, with an expected increase in sales volumes by 8%. The company now anticipates coal sales of 7.1-7.7 million short tons and coal production of 6.8-7.4 million short tons.

Portfolio Pulse from Lekha Gupta

June 13, 2023 | 4:27 pm

BYDDY

F

GM

NIO

TSLA

Nio Inc has lowered its EV prices by $4,200 (6-9%) and stopped offering free battery swapping services to new buyers, succumbing to Tesla's price war in China. Nio's sales have weakened, and its Q1 net loss deepened to 4.7 billion yuan. Shares have slumped nearly 20% YTD.

Portfolio Pulse from Upwallstreet

June 13, 2023 | 4:17 pm

ORCL

Oracle Corporation (NYSE:ORCL) shares climbed after reporting better-than-expected FQ4 results. Analysts from Goldman Sachs, Guggenheim Securities, Morgan Stanley, Piper Sandler, and William Blair reacted positively, with most raising their price targets. Oracle's strong performance in SaaS/ERP, accelerating growth in IaaS, and potential to convert on-premise database customers to the cloud contributed to the positive outlook.

Portfolio Pulse from Priya Nigam

June 13, 2023 | 3:40 pm

HD

Home Depot Inc announced during its Investor Day that it is committed to reducing costs by approximately $500 million, with the full impact to be realized in fiscal 2024.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2023 | 3:23 pm

RIVN

Rivian Automotive (RIVN) sees a surge in call options for July 21 with a strike price of $15. The volume of 2,084 contracts is traded at $1.609, compared to an open interest of 15,379. Earnings are expected on August 10 after market close.

Portfolio Pulse from Charles Gross

June 13, 2023 | 3:18 pm

TRUP

Trupanion (TRUP) experienced a sweep of 555 Fri $35 puts below bid at $4.5, compared to 28 open interest. Earnings are expected on 8/2 after market close.

Portfolio Pulse from Charles Gross

June 13, 2023 | 3:08 pm

CTLT

Catalent (NYSE:CTLT) reported Q3 sales of $1.04 billion and a loss of $227 million, a 380.25% decrease from last quarter. The company posted a negative Return On Capital Employed (ROCE) of -0.05%, suggesting inefficient capital allocation. Q3 earnings per share were $-0.09, missing analyst predictions of $-0.03.

Portfolio Pulse from Benzinga Insights

June 13, 2023 | 2:46 pm