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TCOM

Trip.com Group Ltd (NASDAQ:TCOM) reported a 99% Y/Y increase in Q3 FY23 revenues, reaching RMB13.7 billion, driven by a strong recovery in the travel market. Accommodation reservations rose 92% Y/Y, transportation ticketing increased 105% Y/Y, and packaged-tour revenue jumped 243% Y/Y. Domestic hotel bookings grew 90% Y/Y, and outbound hotel and air reservations recovered to around 80% of pre-COVID levels. Adjusted EBITDA was RMB4.6 billion with a 34% margin, and adjusted EPS per ADS was RMB7.26. In USD, revenue was $1.885 billion, and adjusted earnings per ADS were $1.00. The company also repurchased 3.6 million ADSs for $120 million. Despite the positive report, TCOM shares are down 3.27% in premarket trading.

Portfolio Pulse from Lekha Gupta

November 21, 2023 | 11:20 am

EMBC

Embecta (NASDAQ:EMBC) reported Q4 earnings with an EPS of $0.59, beating estimates by 47.5% against the expected $0.4. Revenue increased by $7.30 million compared to the same period last year. Despite beating EPS estimates last quarter, the share price dropped by 3.02% the following day. The company has a history of surpassing EPS estimates in the past four quarters.

Portfolio Pulse from Benzinga Insights

November 21, 2023 | 11:15 am

ARQQ

Arqit Quantum (NASDAQ:ARQQ) experienced a significant decrease in QuantumCloud sales, reporting $639.97K for FY23, down from $7.21M in the previous year. The company concluded the fiscal year with $44.5M in cash and equivalents.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 11:12 am

LOW

Lowe's Companies has revised its FY23 comparable sales forecast, now expecting a decrease of approximately -5%, compared to the previously expected range of -2% to -4%.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 11:07 am

LOW

Lowe's reported a 7.4% decrease in Q3 comparable sales, attributed to a drop in DIY discretionary spending, though this was partially mitigated by positive comparable sales from professional customers.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 11:06 am

INCY

Goldman Sachs analyst Salveen Richter downgraded Incyte (NASDAQ:INCY) from Buy to Neutral and set a price target of $65.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 11:05 am

LOW

Lowe's Companies has revised its FY23 adjusted EPS guidance downward to $13.00 from the previous range of $13.20-$13.60, which is below the consensus estimate of $13.33.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 11:05 am

DY

Dycom Industries (NYSE:DY) reported Q3 earnings with an EPS of $2.82, beating estimates by 58.43% against the expected $1.78. Revenue increased by $94 million from the same period last year. Despite beating EPS estimates last quarter, the share price dropped by 2.91% the following day.

Portfolio Pulse from Benzinga Insights

November 21, 2023 | 11:05 am

LOW

Lowe's Companies (NYSE:LOW) reported Q3 earnings with an EPS of $3.06, slightly beating the estimate of $3.03 by 0.99%. However, revenue decreased by $3.01 billion compared to the same period last year. In the previous quarter, a beat on EPS resulted in a 0.64% share price increase the following day. Historical data shows varied performance in past quarters.

Portfolio Pulse from Benzinga Insights

November 21, 2023 | 11:05 am

J

Jacobs Solutions Inc (NYSE:J) has announced a definitive agreement to spin off its Critical Mission Solutions and Cyber & Intelligence businesses, merging them with Amentum to form a new publicly traded government services company. The new entity will have an estimated annual revenue of $13 billion. Jacobs and its shareholders will own 58.5%-63% of the new company, and Jacobs will retain its data solutions and digital technologies business. Jacobs expects to receive $1 billion in cash proceeds post-closure, with additional value from divesting its retained stake within 12 months. The deal is expected to close in the second half of FY24 and is projected to generate $50 million-$70 million in net cost synergies. Jacobs' CEO Bob Pragada believes this will streamline the company's portfolio and align it with global trends. Jacobs will announce Q1 2024 earnings and new productivity targets on November 21, 2023. The company's stock closed higher by 1.23% at $136.98 on Monday.

Portfolio Pulse from Lekha Gupta

November 21, 2023 | 11:04 am