Streetbeat News

Stock Prices

CSIQ

Canadian Solar has revised its FY23 total revenue outlook, reducing the top end from $9.5B to $9.0B. The new range is now $8.5B-$9.0B, compared to the consensus estimate of $9.27B.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 10:09 am

NVDA

SPY

On Monday, US markets ended mixed with Nasdaq up more than 1% due to surging NVIDIA Corp and other tech stocks. S&P 500 saw gains from consumer discretionary and IT, while real estate, consumer staples, and energy stocks closed lower. Asian and European markets were up, with tech sector gains noted. Commodities were mixed, with crude oil and natural gas down, but gold, silver, and copper up. US futures were up, while the US Dollar Index was down.

Portfolio Pulse from Akanksha Bakshi

August 22, 2023 | 10:08 am

CSIQ

Canadian Solar has projected its Q3 total revenue to be between $1.9B and $2.1B, which is below the consensus estimate of $2.47B. The company's gross margin is expected to be between 17.5% and 19.5%. Total module shipments recognized as revenues by CSI Solar are expected to be in the range of 8.5 GW to 8.7 GW.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 10:06 am

LSEA

Landsea Homes Corporation (NASDAQ:LSEA) has announced the pricing of a secondary offering by its stockholder, Green Investment Alpha Limited. The offering includes 4,207,574 shares of the company's common stock at a price of $9.75 per share. The stockholder has also granted the underwriters a 30-day option to purchase up to 631,136 additional shares. The offering is expected to close on August 24, 2023.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 10:05 am

CSIQ

Canadian Solar (NASDAQ:CSIQ) reported Q2 earnings of $2.39 per share, a 123.36% increase from the same period last year. However, the company's quarterly sales of $2.36 billion missed the analyst consensus estimate of $2.48 billion by 4.68%.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 10:03 am

LOW

Lowe's has affirmed its FY23 outlook, with total sales expected to be between $87 billion and $89 billion, compared to an estimate of $88.05 billion. The company expects comparable sales to be down by 2% to 4% compared to the prior year. Adjusted diluted earnings per share are expected to be between $13.20 and $13.60, against an estimate of $13.38.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 10:02 am

LOW

Lowe's reported Q2 total sales of $25.0 billion, with a decrease in comparable sales by 1.6%. This was partially offset by strong spring recovery and growth in Pro and online sales, despite lumber deflation and lower DIY discretionary demand.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 10:01 am

MNSO

MINISO Group Holding Limited (NYSE:MNSO) reported Q4 FY23 sales of $448.50 million, beating the analyst consensus of $434.37 million. Revenue improved 40.3% YoY and 10.1% QoQ. The company's gross profit increased 67.9% YoY and operating income increased 153.6% YoY. The number of MINISO stores increased by 592 YoY to 5,791. The company also reported adjusted earnings per ADS of $0.25, beating the consensus of $0.22. The company expects sales to continue to grow strongly YoY in the September quarter.

Portfolio Pulse from Shivani Kumaresan

August 22, 2023 | 9:57 am

BIDU

IQ

Baidu, Inc (NASDAQ: BIDU) reported a Q2 FY23 revenue growth of 15% YoY to $4.697 billion, beating the consensus of $4.570 billion. Non-GAAP earnings per ADS of $3.11 also beat the consensus of $2.32. Revenue from IQIYI, Inc (NASDAQ: IQ) increased 17% YoY to $1.1 billion, beating the consensus of $1.07 billion. Baidu's SG&A increased by 32% YoY due to increased channel spending and promotional marketing expenses. Baidu held $27.8 billion in cash and equivalents and generated $1.09 billion in free cash flow.

Portfolio Pulse from Anusuya Lahiri

August 22, 2023 | 9:56 am

TGT

Daiwa Capital analyst Kahori Tamada has downgraded Target (NYSE:TGT) from Outperform to Neutral and set a price target of $134.

Portfolio Pulse from richadhand@benzinga.com

August 22, 2023 | 9:54 am