Streetbeat News

Stock Prices

AMSC

AMWL

CAKE

DXC

ETSY

HOOD

KRP

MGM

PYPL

QCOM

SDGR

STAA

Several US stocks traded lower in Thursday's pre-market session. Notable declines include American Superconductor Corporation (AMSC), DXC Technology Company (DXC), Schrödinger, Inc. (SDGR), STAAR Surgical Company (STAA), The Cheesecake Factory Incorporated (CAKE), QuantumScape Corporation (QS), American Well Corporation (AMWL), QUALCOMM Incorporated (QCOM), PayPal Holdings, Inc. (PYPL), Kimbell Royalty Partners, LP (KRP), Etsy, Inc. (ETSY), Robinhood Markets, Inc. (HOOD), and MGM Resorts International (MGM). Reasons for the declines vary from disappointing quarterly results to downgrades by analysts.

Portfolio Pulse from Lisa Levin

August 04, 2023 | 12:53 pm

BKE

Buckle Inc. reported a 1.3% decrease in comparable store net sales for July 2023.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 12:53 pm

LUV

Jefferies analyst Sheila Kahyaoglu has downgraded Southwest Airlines (NYSE:LUV) from Hold to Underperform and set a price target of $25.

Portfolio Pulse from richadhand@benzinga.com

August 04, 2023 | 12:52 pm

TPVG

Compass Point analyst Casey Alexander has downgraded TriplePoint Venture Gwth (NYSE:TPVG) from Neutral to Sell and set a price target of $9.75.

Portfolio Pulse from richadhand@benzinga.com

August 04, 2023 | 12:52 pm

SRE

Sempra Energy reported Q2 earnings of $1.88 per share, beating the analyst consensus estimate of $1.75 by 7.43%. However, this is a 5.05% decrease from the same period last year. The company's quarterly sales of $3.33 billion missed the analyst consensus estimate of $3.64 billion by 8.38%, marking a 5.98% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 12:52 pm

ITT

ITT Inc. has updated its FY23 adjusted EPS guidance to $4.95-$5.15, an increase of 11%-16% YoY, which is above the consensus of $4.89. The company maintains its revenue guidance of 7%-9% and 6%-8% on an organic basis, and free cash flow guidance of $350 million to $400 million.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 12:52 pm

HAS

Hasbro has revised its revenue guidance, expecting a decline of 3-6% due to the underperformance of its Entertainment segment. However, the company has increased its guidance for the Wizards of the Coast segment to high-single digits.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 12:52 pm

BrightView has revised its FY23 revenue outlook downwards to $2.80B - $2.82B from the previous $2.82B - $2.86B, against an estimate of $2.85B.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 12:52 pm

AAPL

AMZN

QQQ

SPY

US stock futures are pulling back due to Fitch's U.S. ratings downgrade and negative earnings news flow. Tech stocks like Apple and Amazon are under pressure as they are due to report their quarterly results. Analysts predict a 5% pullback in the stock market. In premarket trading, the SPDR S&P 500 ETF Trust and the Invesco QQQ ETF declined. Stocks reacting to earnings include PayPal, Occidental Petroleum, Cheesecake Factory, DoorDash, Qualcomm, Qorvo, Etsy, and EVgo.

Portfolio Pulse from Shanthi Rexaline

August 04, 2023 | 12:52 pm

SBH

Sally Beauty Holdings (NYSE:SBH) reported Q3 adjusted earnings of $0.49 per share, in line with analyst consensus. However, the company's quarterly sales of $931.01 million missed the analyst consensus estimate of $947.70 million by 1.76 percent. This represents a 3.17 percent decrease over sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 12:52 pm