Streetbeat News

Earnings

ZBH

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) reported Q2 FY23 adjusted EPS of $1.82, in line with consensus estimates. The company posted Q2 sales of $1.870 billion, up 4.9% Y/Y, beating the consensus of $1.825 billion. Revenue from knee and hip products increased by 9.4% and 3.5% respectively. The company raised its financial guidance for 2023 based on confidence in business performance and innovation pipeline. However, ZBH shares are down 5.15% at $131.04.

Portfolio Pulse from Nabaparna Bhattacharya

August 04, 2023 | 9:31 am

TREX

Trex Co shares are trading higher after the company reported strong Q2 earnings. Several firms have also raised their price targets on the stock.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 9:31 am

ZI

ZoomInfo Technologies Inc (ZI) shares dropped after the company reported mixed Q2 earnings and weak guidance. Analysts from Piper Sandler, Mizuho Securities, Truist Securities, Needham, and JMP Securities provided their insights, with most reducing their price targets. The company's revenue shortfall and lowered outlook for 2023 were highlighted as concerns, with software renewals identified as a key challenge.

Portfolio Pulse from Priya Nigam

August 04, 2023 | 9:30 am

CNO

CNO Financial Group's shares are trading lower following the company's Q2 earnings report, which revealed worse-than-expected adjusted EPS results.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 9:30 am

AMSC

ANET

AUDC

NKLA

RYTM

Despite a general downturn in the US stock market, several companies saw significant gains. American Superconductor Corporation (AMSC) jumped 49% amid claims of a new superconductor. Nikola Corporation (NKLA) gained 21% after being awarded an additional $16.3 million for hydrogen refueling stations. Rhythm Pharmaceuticals (RYTM), Arista Networks (ANET), and AudioCodes (AUDC) all saw gains following strong quarterly sales or better-than-expected results. EQRx (EQRX) gained 14.3% following an announcement of its acquisition by Revolution Medicines. Other companies such as Emergent BioSolutions (EBS), Proterra (PTRA), Great Lakes Dredge & Dock Corporation (GLDD), Mativ Holdings (MATV), Douglas Dynamics (PLOW), TETRA Technologies (TTI), Varonis Systems (VRNS), HUTCHMED (HCM), SunCoke Energy (SXC), Rigetti Computing (RGTI), Oshkosh Corporation (OSK), Caterpillar (CAT), and Global Payments (GPN) also recorded gains.

Portfolio Pulse from Lisa Levin

August 04, 2023 | 9:30 am

CRK

Comstock Resources reported worse-than-expected Q2 revenue results, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 9:30 am

MMYT

MakeMyTrip Limited reported better-than-expected Q1 financial results, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 9:29 am

ZBRA

Zebra Technologies Corp (ZBRA) reported a Q2 FY23 net sales decline of 17.3% YoY to $1.21 billion, missing the consensus of $1.31 billion. The company also cut its guidance, expecting Q3 net sales to decrease between 30% - 35% YoY, well below the consensus of $1.32 billion. ZBRA shares traded lower by 18.60% at $250.73.

Portfolio Pulse from Anusuya Lahiri

August 04, 2023 | 9:29 am

NCLH

Norwegian Cruise Line Holdings Ltd (NCLH) stock is sinking following its weak Occupancy forecast for 2024 and beyond. Despite reporting Q2 FY23 sales growth of 85.7% YoY to $2.21 billion and an adjusted EPS of $0.30, beating analyst consensus, the company's shares are trading lower by 14.7%. The company expects Occupancy to be approximately 200 basis points lower relative to 2019 for 2024 and beyond.

Portfolio Pulse from Shivani Kumaresan

August 04, 2023 | 9:28 am

OTTR

Otter Tail Corporation reported better-than-expected Q2 financial results and raised its FY23 EPS guidance above estimates, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 9:28 am