Streetbeat News

Stock Prices

AMD

AMD has projected its Q3 2023 revenue to be around $5.7 billion, which is lower than the estimated $5.82 billion.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 10:24 am

SBUX

Starbucks Corporation (NASDAQ:SBUX) reported Q3 revenue of $9.17 billion, up 12% YoY, but slightly below the consensus estimate of $9.29 billion. Earnings per share were $1, beating the estimate of 95 cents. Same store sales increased 10% YoY, with North America up 7% and international up 24%. China sales within the international segment rose 46% YoY. The company opened 588 new stores in Q3, bringing the total to 37,222. The U.S. rewards program membership increased 15% YoY to 31.4 million.

Portfolio Pulse from Chris Katje

August 04, 2023 | 10:24 am

SEDG

SolarEdge (SEDG) has reported that the US residential solar market is facing headwinds primarily due to higher interest rates.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 10:24 am

SCI

Service Corporation International (SCI) has revised its FY23 EPS guidance to $3.40-$3.60 from $3.45-$3.75 due to the inflationary environment and higher than expected interest rates. The company also raised its adjusted operating cash flow guidance to $830 million to $880 million from $740 million to $800 million, reflecting strong operating cash flow and an expected decrease in cash taxes due to a change in tax accounting method.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 10:23 am

ULCC

Frontier Airlines expects its Q3 capacity to grow by 21-23%.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 10:23 am

SE

A whale investor has taken a bullish stance on Sea (NYSE:SE), with 71% of the investors opening trades with bullish expectations and 28% with bearish. The trades include 2 puts for a total amount of $425,800 and 12 calls for a total amount of $720,288. The price target for Sea over the last 3 months ranges from $45.0 to $105.0. UBS has upgraded its action to Buy with a price target of $86.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 10:23 am

COLM

Columbia Sportswear has revised its FY23 revenue and EPS estimates to $3.53B-$3.59B and $4.40-$4.65 respectively, both lower than previous estimates. The company cites economic conditions, inflationary pressures, supply chain expenses, changes in consumer behavior and confidence, and geopolitical tensions as factors influencing the forecast.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 10:23 am

SEDG

SolarEdge (SEDG) has projected its Q3 revenues to be between $880M and $920M, which is below the consensus estimate of $1.05B.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 10:22 am

ANET

META

Arista Networks (ANET) has shown strong growth in 2Q23, driven by a surge in enterprise demand. Analysts from Keybanc, Needham, JMP Securities, and Morgan Stanley have maintained positive ratings and raised their price targets for ANET. The company's growth is attributed to its expanding opportunities with Cloud Titans, CSPs, and Enterprise, including AI-related expansion. However, one of its significant customers, believed to be Meta Platforms (META), reduced capex spending, slowing cloud titan deployments.

Portfolio Pulse from Anusuya Lahiri

August 04, 2023 | 10:22 am

OSTK

Overstock.com has relaunched Bed Bath & Beyond after acquiring some of its assets a few months ago. The newly-relaunched Bed Bath & Beyond website is offering enticing deals to attract new customers. Overstock's CEO, Jonathan Johnson, hinted that the Overstock name and ticker, $OSTK, may not be a fit anymore, but he is unsure if he wants to bring back Bed Bath & Beyond’s $BBBY ticker.

Portfolio Pulse from Aaron Bry

August 04, 2023 | 10:22 am