Streetbeat News

Earnings

NDSN

KeyBanc analyst Jeffrey D. Hammond reiterated an Overweight rating on Nordson Corporation (NASDAQ:NDSN) and raised the price target to $270 from $255. Nordson's multiple expansionary moves, strong balance sheet, and attractive risk/reward profile are expected to propel earnings momentum into 2024.

Portfolio Pulse from Nabaparna Bhattacharya

June 22, 2023 | 7:20 pm

CDMO

Avid Bioservices reported Q4 revenue of $39.8 million, a 28% Y/Y increase, beating the consensus of $38.90 million. However, the company forecasts FY24 sales of $145 million-$165 million, below the consensus of $181.27 million. Stephens reiterated its Overweight rating but lowered its price target to $20 from $24.

Portfolio Pulse from Vandana Singh

June 22, 2023 | 7:15 pm

ADP

Automatic Data Processing Inc.'s (ADP) stock price is at $219.90, after a 0.30% drop, but has increased by 4.52% over the past month. The company's P/E ratio of 28.17 is slightly better than the Professional Services industry's aggregate P/E ratio of 27.89, which may indicate overvaluation.

Portfolio Pulse from Benzinga Insights

June 22, 2023 | 7:01 pm

ACN

CGC

CGRN

CMC

CRWS

DRI

FDS

GMS

MEI

SWBI

WEED

XAIR

Earnings reports for June 22, 2023, include FactSet Research Systems, Darden Restaurants, Accenture, Crown Crafts, Methode Electronics, GMS, Commercial Metals, Listed Funds Trust Roundhill Cannabis ETF, Canopy Gwth, Smith & Wesson Brands, Beyond Air, and Capstone Green Energy.

Portfolio Pulse from Benzinga Insights

June 22, 2023 | 5:54 pm

DRI

TXRH

Darden Restaurants Inc (DRI) reported Q4 revenue of $2.7 billion, in line with estimates, and EPS of $2.58, beating the consensus estimate of $2.54. Stephens analyst Joshua Long reiterated an Overweight rating with a price target of $170, while TD Cowen analyst Andrew M. Charles reiterated an Outperform rating with a price target of $160. Darden's value steakhouse category performance is viewed as favorable for Texas Roadhouse Inc (TXRH).

Portfolio Pulse from Shivani Kumaresan

June 22, 2023 | 5:48 pm

ADI

Analog Devices Inc.'s (ADI) stock price is at $184.68, after a 0.41% drop, but has spiked by 7.13% over the past month and 23.38% in the past year. The company's P/E ratio is lower than the aggregate P/E of 91.22 of the Semiconductors & Semiconductor Equipment industry, which could indicate undervaluation or weak growth prospects.

Portfolio Pulse from Benzinga Insights

June 22, 2023 | 5:31 pm

ACI

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

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