Streetbeat News

Earnings

QS

QuantumScape Corp's shares are trading lower by 6.31% to $12.48. The company reported Q2 losses of 26 cents per share, compared to the analyst consensus estimate of a loss of 20 cents. The shares have seen marked volatility and are higher by some 52% over the trailing month, possibly due to increased interest by retail investors in high short interest names. QS has a short float of roughly 20%.

Portfolio Pulse from Henry Khederian

August 04, 2023 | 10:13 am

LUV

Southwest Airlines Co (NYSE:LUV) shares are trading lower by 2.37% to $33.35. The drop is in sympathy with JetBlue, which fell after issuing weak guidance. JetBlue's Q2 FY23 results showed a 6.7% YoY growth in operating revenue, reaching $2.61 billion, and a decline in operating expenses by 7.2% YoY. LUV has a 52-week high of $40.39 and a 52-week low of $28.40.

Portfolio Pulse from Henry Khederian

August 04, 2023 | 10:13 am

CAMT

Stifel analyst Brian Chin has reiterated a Buy rating on Camtek Ltd. (NASDAQ:CAMT) and raised the price target to $52 from $44. This follows Camtek's Q2 FY23 results, which saw a revenue decline of 7.3% YoY to $73.758 million, beating the consensus of $72.380 million. Non-GAAP EPS of $0.45 also topped the consensus of $0.42. Chin believes Camtek's visibility is improving in a market lacking visibility, driven by heterogeneous integration/3D packaging. Camtek's shares are currently trading lower by 1.01% to $47.13.

Portfolio Pulse from Nabaparna Bhattacharya

August 04, 2023 | 10:13 am

HOLX

Hologic Inc (NASDAQ:HOLX) reported Q3 adjusted EPS of $0.93, down from $0.95 a year ago but beating the consensus of $0.88. Revenue of $984.4 million decreased 1.8% Y/Y, driven by lower sales of COVID-19 assays. However, the company raised its revenue and profit outlook for FY23. Despite this, HOLX shares are down 3.27%.

Portfolio Pulse from Vandana Singh

August 04, 2023 | 10:13 am

CCL

NCLH

Carnival Corporation (CCL) shares are trading lower in sympathy with Norwegian Cruise Line Holdings (NCLH), which fell after reporting earnings and issuing guidance. Despite this, CCL stock has rallied 89.15% over the past three months. NCLH reported quarterly earnings of 30 cents per share and sales of $2.21 billion, both beating analyst consensus estimates. However, the company expects full-year occupancy to be roughly 200 bps lower than 2019 levels.

Portfolio Pulse from Ryan Gustafson

August 04, 2023 | 10:13 am

LEG

TPX

Wedbush analyst Seth Basham has reiterated an Outperform rating on Tempur Sealy International Inc (TPX) with a price target of $55, despite a recent cybersecurity breach and negative supplier read-through. The breach has caused a temporary interruption to operations, and while some critical IT systems are back online, operations are not fully normal. The analyst also mentioned Legget & Platt Inc (LEG) slashing its FY23 revenue growth guidance by 300 basis points due to macroeconomic volatility and low end-market visibility.

Portfolio Pulse from Shivani Kumaresan

August 04, 2023 | 10:13 am

ADMP

AMSC

CAT

POL

TGTX

YELL

ZI

The Dow Jones gained over 50 points, while NASDAQ and S&P 500 fell. Caterpillar Inc reported better-than-expected Q2 results with a 21.6% YoY revenue increase to $17.32 billion, beating the consensus of $16.50 billion. Yellow Corporation shares shot up 117% on news of bankruptcy preparations. American Superconductor Corporation shares rose 63% amid claims of a new superconductor. Adamis Pharmaceuticals shares gained 174% after being listed on the Regulation SHO 'threshold security' list. Polished.com shares dropped 68% after announcing restated and delayed financial statements. TG Therapeutics shares were down 47% after reporting Q2 FY23 Briumvi net sales of $16 million in the U.S. ZoomInfo Technologies shares fell 26% after issuing weak guidance.

Portfolio Pulse from Lisa Levin

August 04, 2023 | 10:12 am

SBUX

Starbucks Corporation (NASDAQ:SBUX) is set to release its Q3 financial results. Analysts estimate earnings per share of 95 cents on revenues of $9.291 billion. Wedbush analyst Nick Setyan maintained a Neutral rating and raised the price target from $110 to $112. The stock's performance is neutral, trading close to the 200-day simple moving average (SMA). A bullish reaction to its earnings print could negate its downtrend, while a bearish reaction could extend the downtrend.

Portfolio Pulse from Melanie Schaffer

August 04, 2023 | 10:11 am

ZBH

Zimmer Biomet Holdings reported its Q2 financial results and issued FY23 guidance, following which its shares traded lower.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 10:11 am

APP

Stifel analyst David Pang has reiterated a Buy rating on Applovin Corporation (NASDAQ:APP), raising the price target to $36 from $22.50. Pang forecasts growth in Applovin's software platform business in Q2, with AEBITDA growth of +9% y/y to $294 million. The software platform revenue is expected to contribute 51% of total revenues, increasing by 17% y/y (+5% q/q) to $372 million. Pang also raised Applovin's forecast for AEBITDA of $1.202 billion and $1.386 billion for 2023 and 2024, respectively.

Portfolio Pulse from Nabaparna Bhattacharya

August 04, 2023 | 10:10 am