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GME

GameStop shares are trading higher after the company reported better-than-expected Q2 results.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2023 | 8:50 pm

GME

SONY

GameStop Corporation (NYSE:GME) reported Q2 net sales of $1.16 billion, up 2.5% YoY, beating analysts’ consensus estimates of $1.14 billion. The company reported a loss of 3 cents per share, better than the estimated loss of 14 cents per share. GameStop reported $4.3 million in restructuring costs related to its European operations and ended the quarter with $1.195 billion in cash and cash equivalents. The company will not hold a conference call to discuss the results. A movie about GameStop investors versus hedge funds will be released by Sony Group Corp (NYSE:SONY) on Sept. 22.

Portfolio Pulse from Chris Katje

September 06, 2023 | 8:49 pm

VCSA

Vacasa has announced a reverse stock split at a ratio of 1-for-20.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2023 | 8:46 pm

BA

A 'whale' investor has taken a bullish stance on Boeing (NYSE:BA), with 53% of investors opening trades with bullish expectations and 46% with bearish. The whale activity indicates a target price range from $150.0 to $250.0 for Boeing over the last 3 months. The current price of BA is down -2.08% at $217.95. TD Cowen maintains their Outperform rating on Boeing, with a price target of $260.

Portfolio Pulse from Benzinga Insights

September 06, 2023 | 8:46 pm

QCOM

A significant bearish stance has been taken on Qualcomm (NASDAQ:QCOM) by a large investor, as observed in the unusual options activity. The sentiment among these big-money traders is 75% bearish and 25% bullish. The whales have been targeting a price range from $100.0 to $120.0 for Qualcomm over the last 3 months. Currently, the price of QCOM is down -1.6% at $114.68. Mizuho and Daiwa Capital have downgraded their actions to Buy and Outperform with price targets of $140 and $125 respectively.

Portfolio Pulse from Benzinga Insights

September 06, 2023 | 8:46 pm

SGEN

A whale investor has taken a bullish stance on Seagen (NASDAQ:SGEN), with 53% of investors opening trades with bullish expectations and 46% with bearish. The whale has been targeting a price range from $170.0 to $210.0 for Seagen over the last 3 months. The current price of SGEN is down -0.52% at $206.1. RSI indicators suggest that the stock may be overbought.

Portfolio Pulse from Benzinga Insights

September 06, 2023 | 8:46 pm

WBD

Warner Bros. Discovery Inc. (NASDAQ:WBD) shares are trading lower after Rosenblatt Securities maintained a Sell rating on the stock and kept the $10 price target. The company has lowered its 2023 AEBITDA guidance due to the impact of ongoing strikes. However, it raised its 2023 FCF guidance due to strong performance of Barbie and strike-related factors. Risks include the potential loss of NBA media rights in 2025.

Portfolio Pulse from Ryan Gustafson

September 06, 2023 | 8:45 pm

AZYO

Aziyo Biologics, Inc. (NASDAQ:AZYO) has rebranded to Elutia Inc. to reflect its strategic focus on drug-eluting biomatrix technology. The company's stock will begin trading under the new ticker symbol 'ELUT' on September 7, 2023. Elutia is developing new products for the pacemaker and implantable defibrillator markets, and is expected to expand into neurostimulator markets. The company also serves the market with its SimpliDerm® Acellular Dermal Matrix, used in breast reconstruction following mastectomy.

Portfolio Pulse from Happy Mohamed

September 06, 2023 | 8:39 pm

PLAY

Dave & Buster's Entertainment Inc (NASDAQ:PLAY) reported Q2 earnings of 94 cents per share, beating the analyst consensus estimate of 93 cents, and a 10.59% increase from the same period last year. However, the company's quarterly sales of $542.10 million missed the analyst consensus estimate of $559.00 million. The company ended the quarter with $572.8 million of liquidity and purchased 2.1 million shares at a total cost of $74.5 million. Despite the mixed results, the company remains confident in its growth initiatives.

Portfolio Pulse from Ryan Gustafson

September 06, 2023 | 8:38 pm

YEXT

Yext has provided its full year fiscal 2024 outlook, projecting revenue in the range of $405.0 million to $407.0 million, adjusted EBITDA between $50.0 million to $52.0 million, and non-GAAP net income per share between $0.29 to $0.30. These projections are slightly above the estimated figures.

Portfolio Pulse from Happy Mohamed

September 06, 2023 | 8:36 pm