Streetbeat News

Revenues

TIXT

Telus International has projected its preliminary Q2 2023 revenue to be in the range of $660M-$668M.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 9:19 pm

AEHR

Aehr Test Systems has projected its FY24 revenue to be at least $100 million, indicating a YoY growth of over 50%. The company also expects its GAAP net income to be at least $28 million, representing a YoY growth of more than 90%.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 8:08 pm

CCL

CUK

Holland America Line, a part of Carnival Corporation, reported its highest booking day in the brand's 150-year history on July 11. Most of the bookings were for 2024 and 2025, indicating that travelers are planning ahead. The bookings showed significant interest in locations like Alaska, Europe, and the Caribbean, as well as for its new, longer, Legendary Voyages.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 6:59 pm

AMZN

Amazon's shares are trading higher following the announcement that the first day of Prime Day, July 11, was the single largest sales day in the company's history.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 5:50 pm

SHOP

Roth MKM analyst Darren Aftahi reiterated a Buy rating on Shopify Inc (NYSE: SHOP) and raised the price target from $68 to $73. The analyst surveyed SHOP merchants and found a median growth of 14.2% in 2Q23, up from 10.4% in Q123. About 90% of respondents used SHOP payments, 62% used SHOP shipping solutions, and 95% had a social commerce presence. The analyst expects 2Q23 revenue/non-GAAP operating income of $1.6 billion/$57.8 million, in line with consensus expectations. SHOP shares are trading higher by 6.04% at $69.02.

Portfolio Pulse from Shivani Kumaresan

July 13, 2023 | 5:33 pm

CWEN

Clearway Energy Inc (CWEN) reported that its wind production for Q2 was about 25% below internal median production estimates, including Alta Wind Complex's wind production being around 20% below expectations. This is expected to impact Q2 2023 revenues by $25 million to $30 million. Despite this, the company maintains its long-term outlook and plans to achieve its 5% to 8% annual dividend growth objective through at least 2026.

Portfolio Pulse from Lekha Gupta

July 13, 2023 | 2:22 pm

DAL

Delta Air's executive has announced a capacity outlook of 16% growth in Q3. However, unit revenues are expected to be 2% to 4% lower.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 2:16 pm

ADBE

AMZN

GOOG

HYMTF

MDT

META

PEP

SONY

TSLA

VSAT

XOM

Several companies have made significant announcements. Meta Platforms is preparing to launch a commercial version of its AI model, competing with Microsoft and Alphabet. Viasat shares dropped after an unexpected event during satellite deployment. The UK's CMA is investigating Adobe's $20B acquisition of Figma. PepsiCo reported better than expected Q2 earnings. Exxon Mobil is acquiring Denbury for $4.9B. Hyundai's Kia is investing $200M in a Georgia facility. Medtronic is facing a whistleblower lawsuit alleging a bribery scheme. The FDA is reviewing an energy drink founded by YouTube stars. Google is launching its AI chatbot, Bard, in Europe and Brazil. The NLRB filed a complaint against Amazon. Tesla plans to sell a $1,670 electric quad bike for children in China. JD.com is developing AI applications. Carlyle Group and Trustar Capital plan to exit part of their stakes in McDonald's China. Sony is ramping up R&D spending in its game business.

Portfolio Pulse from Vandana Singh

July 13, 2023 | 2:10 pm

AMZN

Amazon's Prime Day 2023 was the largest sales day in the company's history, with Prime members purchasing over 375 million items worldwide and saving more than $2.5 billion. The event was also the biggest ever for independent sellers in Amazon's store. The company offered more deals than any past Prime Day event, with top-selling deals including Fire TV Stick, LANEIGE Lip Glowy Balm, Apple AirPods, and Bissell Little Green Portable Deep Cleaner. Prime members also shopped deals beyond the Amazon store using Buy with Prime, a new feature that offers benefits when shopping directly from participating brands' websites.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 1:50 pm

CYRX

Cryoport Inc's shares are trading lower after the company released preliminary Q2 FY23 results and updated its revenue expectations for FY23. The company expects Q2 sales of $56.5-$57.5 million, a decrease of 11% compared to Q2 2022 and below the consensus of $67.4 million. This is due to weaker global demand for capital equipment, clinical trial start delays, and slower ramps from certain clients. Cryoport has also lowered its FY23 sales outlook to $233-$243 million, down from prior guidance of $270-$290 million.

Portfolio Pulse from Vandana Singh

July 13, 2023 | 1:31 pm