Streetbeat News

Stock Prices

ADDDF

ADDYY

Adidas AG reported a 75% dip in Q2 EPS and a 4.5% decline in revenues to €5.34 billion. The decline was due to a reduction in high inventory levels, particularly in North America and Greater China. However, the company benefited from the first sale of some of its Yeezy inventory, generating revenues of around €400 million. Adidas has revised its outlook for 2023, expecting currency-neutral revenues to decline at a mid-single-digit rate, an improvement from the earlier high-single-digit rate prediction.

Portfolio Pulse from Lekha Gupta

August 04, 2023 | 12:40 pm

ARAV

BTIG analyst Robert Hazlett has downgraded Aravive (NASDAQ:ARAV) from Buy to Neutral.

Portfolio Pulse from richadhand@benzinga.com

August 04, 2023 | 12:40 pm

IMXI

JMP Securities analyst David Scharf has downgraded IntL Money Express (NASDAQ:IMXI) from Market Outperform to Market Perform.

Portfolio Pulse from richadhand@benzinga.com

August 04, 2023 | 12:40 pm

COCO

B of A Securities analyst Bryan Spillane has downgraded Vita Coco (NASDAQ:COCO) from Buy to Neutral, while raising the price target from $25 to $32.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 12:39 pm

ROKU

Citigroup analyst Jason Bazinet has downgraded Roku (NASDAQ:ROKU) from Buy to Neutral.

Portfolio Pulse from richadhand@benzinga.com

August 04, 2023 | 12:39 pm

SNN

Smith & Nephew has increased its 2023 underlying revenue growth guidance from 5.0%-6.0% to 6.0%-7.0%. The company's trading profit margin guidance remains unchanged at at least 17.5%.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 12:39 pm

VGK

The Eurozone Services Purchasing Managers Index (PMI) for July was reported at 50.9, slightly below the estimated 51.1 and down from 52 in the previous month.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 12:39 pm

FXI

TSLA

The China Passenger Car Association (CPCA) reported that Tesla sold 64,285 China-made vehicles in July, according to Reuters.

Portfolio Pulse from Charles Gross

August 04, 2023 | 12:39 pm

BRK

OXY

Occidental Petroleum Corp. (OXY) shares fell in premarket trading following the release of its Q2 results, which showed adjusted earnings of $0.68 per share on revenue of $6.73 billion, compared to the year-ago earnings of $3.16 per share and revenue of $10.74 billion. The company also redeemed preferred shares worth $522 million held by Berkshire Hathaway (BRK), which has been accumulating shares of Occidental and increased its stake to 25%.

Portfolio Pulse from Shanthi Rexaline

August 04, 2023 | 12:39 pm

AMZN

GOOG

MSFT

SHOP

Ahead of Amazon's Q2 results, Dan Niles, founder and portfolio manager at Satori Fund, has gone long on Amazon again after selling the stock in July. Niles is optimistic about Amazon's AI opportunity and believes AWS could have performed better than Microsoft's Azure. AWS is a key business for Amazon, contributing the bulk of the operating profit. Amazon is expected to report Q2 earnings per share of $0.32, reversing from a loss of $0.20 a year ago.

Portfolio Pulse from Shanthi Rexaline

August 04, 2023 | 12:38 pm