Streetbeat News

Earnings

DOW

Dow Inc expects to achieve 35% of its $1 billion savings goal in the first half of the year, according to Reuters.

Portfolio Pulse from Happy Mohamed

May 31, 2023 | 7:11 pm

AMZN

CRWD

CrowdStrike's stock is up ahead of its Q1 earnings report, with multiple analysts raising price targets. The company is also working with Amazon Web Services to develop generative AI applications for cloud, security, and AI development.

Portfolio Pulse from Ryan Gustafson

May 31, 2023 | 7:04 pm

MS

Morgan Stanley will book a severance charge in Q2 following job cuts, according to the bank's Co-President. The move is expected to impact the bank's financial performance.

Portfolio Pulse from Happy Mohamed

May 31, 2023 | 6:58 pm

MS

Morgan Stanley's Co-President reports that sales and trading have been soft this quarter, with results down year over year. The investment banking sector is also facing significant challenges.

Portfolio Pulse from Happy Mohamed

May 31, 2023 | 6:55 pm

AVGO

Broadcom Inc. (NASDAQ:AVGO) shares are rising as multiple analysts have raised price targets this week ahead of the company's Q2 earnings report on Thursday. Price targets range from $820 to $890, with Rosenblatt maintaining a Buy rating and a $775 target.

Portfolio Pulse from Ryan Gustafson

May 31, 2023 | 6:43 pm

AAP

DCI

U.S. stocks traded lower with the Dow Jones dropping over 100 points. Donaldson Co Inc shares dropped over 7% after reporting Q3 results and updating guidance. Crude oil fell 2% while gold and silver traded higher. European and Asian markets also closed lower.

Portfolio Pulse from Lisa Levin

May 31, 2023 | 6:39 pm

HPE

Hewlett Packard Enterprise (HPE) stock is trading lower after reporting mixed earnings and issuing Q3 guidance below estimates. HPE reported earnings of $6.97 billion, below estimates of $7.31 billion, and EPS of 52 cents beating estimates of 48 cents. Analysts from Barclays, Credit Suisse, and Deutsche Bank have lowered their price targets.

Portfolio Pulse from Erica Kollmann

May 31, 2023 | 6:32 pm

SFIX

Telsey Advisory Group analyst Dana Telsey reiterated a Market Perform rating on Stitch Fix (NASDAQ:SFIX) with a price target of $5. The analyst anticipates a revenue decline for the fifth consecutive quarter driven by active client declines and macroeconomic challenges. Stitch Fix is also searching for a permanent CEO and faces challenges in onboarding new customers.

Portfolio Pulse from Nabaparna Bhattacharya

May 31, 2023 | 6:16 pm

BAC

WFC

Bank of America (BAC) and Wells Fargo (WFC) stocks are falling after the FDIC reported a significant Q1 deposit decline, the largest since 1984. Total deposits fell 2.5% Q/Q, while wholesale funding rose 14.4%. U.S. banks' net income increased 16.9% Q/Q, and net operating revenues rose 7.6% Q/Q.

Portfolio Pulse from Lekha Gupta

May 31, 2023 | 6:12 pm

GIII

Telsey Advisory Group analyst Dana Telsey reiterated a Market Perform rating on G-III Apparel Group (NASDAQ:GIII) with a price target of $14. GIII is set to report Q1 earnings on June 6. The analyst expects an EPS of $(0.10) and total sales to decline 18.7% to $560 million. GIII's conservative FY24 outlook is seen as appropriate due to ongoing inflationary pressures and exposure to the North American wholesale channel.

Portfolio Pulse from Shivani Kumaresan

May 31, 2023 | 6:08 pm