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Dow Drops 100 Points; Asana Shares Plummet

U.S. stocks traded lower toward the end of trading, with the Dow Jones falling around 100 points on Friday. The Dow traded down 0.29% to 34,294.69 while the NASDAQ fell 0.78% to 11,393.43. The S&P 500 also fell, dropping, 0.55% to 4,054.11. Also check this: Ethereum Edges Lower But Remains Above This Key Level; Dogecoin Becomes Top Loser Leading and Lagging Sectors Materials shares rose by 0.9% on Friday. Leading the sector was strength from Ivanhoe Electric Inc. (NYSE: IE) and GoldMining Inc. (NYSE: GLDG). In trading on Friday, information technology shares fell by 1.1%. Top Headline   The US economy unexpectedly added 263,000 jobs in November, following a revised 284,000 gain in October and also surpassing market estimates of 200,000. The unemployment rate came in unchanged at 3.7% in November, while average hourly earnings increased by 0.6% to $32.82 in November.   Equities Trading UP   Samsara Inc. (NYSE: IOT) shares shot up 22% to $12.12 after the company reported better-than-expected Q3 results and issued FY23 guidance above estimates. Shares of Rigel Pharmaceuticals, Inc. (NASDAQ: RIGL) got a boost, shooting 34% to $0.9143 after the company reported FDA approval of REZLIDHIA for the treatment of adult patients with relapsed or refractory acute ...Full story available on Benzinga.com.....»»

Category: earningsSource: BENZINGADec 4th, 2022Related News

Lion Announces Unaudited First Half 2022 Financial Results

Lion Announces Unaudited First Half 2022 Financial Results.....»»

Category: earningsSource: BENZINGADec 4th, 2022Related News

Friedman Industries, Incorporated Announces Second Quarter Results and Provides Near-term Outlook

LONGVIEW, Texas, Dec. 02, 2022 (GLOBE NEWSWIRE) -- The Company announced today its results of operations for the fiscal second quarter. For the quarter ended September 30, 2022 (the "2022 quarter"), the Company recorded net earnings of $2,470,908 ($0.34 diluted earnings per share) on sales of $149,692,409 compared to net earnings of $13,177,614 ($1.91 diluted earnings per share) on sales of $92,570,895 for the quarter ended September 30, 2021 (the "2021 quarter"). The 2022 quarter was a period of considerable margin compression associated with declining hot-rolled coil ("HRC") prices throughout the quarter. Prior to the quarter, HRC prices experienced a significant and abrupt increase in reaction to the Russian invasion of Ukraine. HRC prices increased approximately 60% from the beginning of March 2022 to the end of April 2022 and then declined approximately 47% by the end of the 2022 quarter. The compressed physical margins were partially offset by net hedging related gains of approximately $2,259,000 for the 2022 quarter. In comparison, the 2021 quarter was the most profitable quarter in the Company's history with results driven by a historic rise in HRC prices creating a high margin environment in a period of historically high steel prices. "The 2022 quarter presented significant challenges due to the declining HRC price trend entering the quarter and continuing throughout the quarter," said Michael J. Taylor, President and Chief Executive Officer. "A combination of sales strategy, inventory management and hedging protection allowed us to remain profitable in a period of significant headwinds to profitability. Successful execution of strategy in challenging periods like the 2022 quarter is what affirms the potential we see in Friedman," Taylor concluded. SUMMARY OF OPERATIONS (unaudited)                                Three Months Ended September 30,     Six Months Ended September 30,     2022     2021     2022     2021                 Net Sales $ 149,692,409   $ 92,570,895   $ 311,495,499   $ 158,487,334                 Total costs and other               income or loss   146,486,892    .....»»

Category: earningsSource: BENZINGADec 4th, 2022Related News

Goldman Sachs Warns Traders Of Shrinking Bonus Pool Even As Trading Revenue Rises

Leading global investment bank Goldman Sachs Group Inc (NYSE: GS) recently announced a shrinking year-end bonus for traders, despite seeing its trading revenue rising this year.  Goldman’s annual trading revenue is $25 billion, and analysts estimate it will outdo last year’s mark by 15%. However, the company’s overall revenue fell by 21%.  The bank has said it is currently dealing with a slowdown across its businesses, especially investment banking and asset management, Reuters reports.  The slowdown is primarily due to surging interest rates and falling company valuations. Bloomberg has reported that ...Full story available on Benzinga.com.....»»

Category: earningsSource: BENZINGADec 4th, 2022Related News

Marvell Technology"s Shortfall Drivers Are A Concern: 5 Analysts Offer Takes On FQ3 Print

Marvell Technology Inc’s (NASDAQ: MRVL) shares tumbled in after-hours session on Thursday, following the company’s worse-than-feared earnings release. Benchmark Analyst Cody Acree reiterated a Buy rating and a price target of $70. Needham analyst Quinn Bolton maintained a Buy rating, while reducing the price target from $64 to $50. Rosenblatt Securities analyst Hans Mosesmann maintained a Buy rating and a price target of $125. KeyBanc analyst John Vinh reaffirmed an Overweight rating, while lowering the price target from $75 to $65. Raymond James analyst Melissa Fairbanks reiterated an Outperform rating, while reducing the price target from $80 to $60. Check out other analyst stock ratings. Benchmark “While Marvell’s Q3 results were initially expected to be weighed on by weaker demand for on-premise Enterprise Networking equipment, and ongoing demand issues in China, its Q3 revenue came in towards the lower end of its guidance range at ...Full story available on Benzinga.com.....»»

Category: earningsSource: BENZINGADec 2nd, 2022Related News

Grand Welcome Doubles Growth Goals in The Year of 2022

TORRANCE, Calif., Dec. 2, 2022 /PRNewswire/ -- Grand Welcome, one of the leading short term-vacation rental management franchises in the industry, released their revenue growth projections for 2022-2023 and found they have doubled in growth sales since 2021. Grand Welcome offers homes in some of the world's most highly attractive areas including Nashville, TN, Maui, HI, and Lake Tahoe, CA......»»

Category: earningsSource: BENZINGADec 2nd, 2022Related News

Gold Down 1%; Samsara Shares Spike Higher

U.S. stocks traded lower midway through trading, with the Dow Jones falling around 75 points on Friday. The Dow traded down 0.22% to 34,319.84 while the NASDAQ fell 0.71% to 11,401.44. The S&P 500 also fell, dropping, 0.47% to 4,057.57. Also check this: Ethereum Edges Lower But Remains Above This Key Level; Dogecoin Becomes Top Loser Leading and Lagging Sectors Energy shares rose by 0.1% on Friday. Leading the sector was strength from Borr Drilling Limited (NYSE: BORR) and CONSOL Energy Inc. (NYSE: CEIX). In trading on Friday, information technology shares fell by 1.4%. Top Headline   The US economy unexpectedly added 263,000 jobs in November, following a revised 284,000 gain in October and also surpassing market estimates of 200,000. The unemployment rate came in unchanged at 3.7% in November, while average hourly earnings increased by 0.6% to $32.82 in November.   Equities Trading UP   Samsara Inc. (NYSE: IOT) shares shot up 18% to $11.67 after the company reported better-than-expected Q3 results and issued FY23 guidance above estimates. Shares of Rigel Pharmaceuticals, Inc. (NASDAQ: RIGL) got a boost, shooting 39% to $0.9475 after the company reported FDA approval of REZLIDHIA for the treatment of adult patients with ...Full story available on Benzinga.com.....»»

Category: earningsSource: BENZINGADec 2nd, 2022Related News

Beauty Is Pain To The Pocketbook: Ulta Posts Q3 Earnings Beat, Raises Prices And Outlook

Ulta Beauty Inc (NASDAQ: ULTA) raised its outlook and beat analyst expectations for quarterly earnings and sales as consumers continue to restock their makeup bags despite paying more for products. The cosmetics company paid $5.34 per share, on revenues of $2.34 billion, ahead of the expected $4.15 per share on revenues of $2.21 billion. Read on for how analysts at Telsey Advisory Group and Guggenheim Research reacted to the news. See Also: What Does Estee Lauder Cos' Debt Look Like? The Telsey Analyst “Incorporating the strong third-quarter results and our expectations for continued momentum, we are raising our estimates,” Telsey Advisory analyst Dana Telsey wrote in a note to investors Friday. “We now look for FY23 sales of $10.01B (from $9.77B previously), up 15.9% YoY vs. 13.2% prior. Our EPS estimate goes to ...Full story available on Benzinga.com.....»»

Category: earningsSource: BENZINGADec 2nd, 2022Related News

Why These PagerDuty Analysts Are Impressed By Q3 Execution

Following the quarterly release, PagerDuty Inc.’s (NYSE: PD) shares continued to gain on Friday. RBC Capital Markets On PagerDuty Analyst Matthew Hedberg reiterated an Outperform and a price target of $32. “PagerDuty delivered a strong quarter with revenue and billings outperformance while achieving non-GAAP profitability a quarter ahead of guidance,” Hedberg said in a note. “We remain impressed with execution and durability in a challenging selling environment as the focus remains on the platform's high ...Full story available on Benzinga.com.....»»

Category: earningsSource: BENZINGADec 2nd, 2022Related News

Dow Tumbles 300 Points After US Economy Adds 263,000 Jobs

U.S. stocks traded lower this morning, with the Dow Jones falling more than 300 points on Friday following the release of jobs data for November. Following the market opening Friday, the Dow traded down 0.88% to 34,091.66 while the NASDAQ fell 1.47% to 11,313.56. The S&P 500 also fell, dropping, 1.09% to 4,032.25. Also check this: Bitcoin, Ethereum Record Gains; Fantom Emerges As Top Gainer Leading and Lagging Sectors Energy shares rose by 0.1% on Friday. Leading the sector was strength from Brooge Energy Limited (NASDAQ: BROG) and Petróleo Brasileiro S.A. - Petrobras (NYSE: PBR). In trading on Friday, information technology shares fell by 2%. Top Headline   The US economy unexpectedly added 263,000 jobs in November, following a revised 284,000 gain in October and also surpassing market estimates of 200,000. The unemployment rate came in unchanged at 3.7% in November, while average hourly earnings increased by 0.6% to $32.82 in November.   Equities Trading UP   Top Ships Inc. (NASDAQ: TOPS) shares shot up 40% to $5.07 after jumping 20% on Thursday. Shares of Ra Medical Systems, Inc. (NYSE: RMED) got a boost, shooting 27% to $4.02 after jumping 29% on Thursday. Ra Medical Systems, ...Full story available on Benzinga.com.....»»

Category: earningsSource: BENZINGADec 2nd, 2022Related News

8 Zscaler Analysts Offer Their Takes On Q3 Print: Why The Company May "Need To Tread Carefully Throughout FY23"

Zscaler Inc.’s (NASDAQ: ZS) shares traded higher in the after-hours session on Thursday, following the company’s fiscal first-quarter print. Zscaler reported revenues of $355.55 million and earnings of 29 cents per share, with both matrices topping consensus estimates. Stephens On Zscaler Analyst Brian Colley reiterated an Overweight and a price target of $175. “ZS reported F1Q results that exceeded Street expectations on both the top and bottom lines,” Colley said. “However, the magnitude of the billings beat (2%) was well below prior quarters (average of +17% over the last 4 quarters) and likely below buyside expectations,” he added. Needham On Zscaler Analyst Alex Henderson maintained a Strong Buy rating and a price target of $210. “Zscaler delivered strong results and guidance despite increasingly challenging macro conditions,” Henderson wrote in a note. “Where others have lowered expectations, ZS was able to Beat the quarter, raise the guide for FY2Q23 on indications of a 'strong pipeline' and maintain or raise the outlook for FY23 metrics,” the analyst said. “In this environment with this level of growth and margin improvement, we see this as a clear win,” he added. JMP Securities On Zscaler Analyst Trevor Walsh maintained a Market Outperform rating, while lowering the price target from $280 to $225. Zscaler is a “durable growth story,” with an experienced management team “under ...Full story available on Benzinga.com.....»»

Category: earningsSource: BENZINGADec 2nd, 2022Related News

PagerDuty Shares Gain Post Solid 31% Top-Line Growth In Q3

PagerDuty, Inc (NYSE: PD) reported third-quarter revenue growth of 31.3% year-on-year to $94.2 million, beating the consensus of $92.9 million. Non-GAAP EPS of $0.04 beat the consensus loss of $(0.04). PagerDuty ended Q3 with 15,265 total paid customers, compared to 14,486 in the year-ago period. PagerDuty reported 710 ...Full story available on Benzinga.com.....»»

Category: earningsSource: BENZINGADec 2nd, 2022Related News

Marvell Technology Gets Price Targets Cut By Analysts After Downbeat Q3 Results, Shares Drop

Marvell Technology, Inc. (NASDAQ: MRVL) reported weaker-than-expected results for its third quarter and issued weak forecast for the current quarter. Marvell said third-quarter revenue grew by 27% year-over-year to $1.537 billion. The number missed average analyst estimates of $1.56 billion. The company reported third-quarter earnings of 57 cents per share, which also missed estimates. Marvell expects fourth-quarter revenue of $1.4 billion, plus or minus 5% versus estimates of $1.61 billion. The company sees fourth-quarter earnings between 41 cents and 51 cents per share versus estimates of 62 cents per share. Marvell Tech ...Full story available on Benzinga.com.....»»

Category: earningsSource: BENZINGADec 2nd, 2022Related News

Looking Into Expeditors International"s Return On Capital Employed

Pulled from Benzinga Pro data, Expeditors International (NASDAQ:EXPD) posted Q3 earnings of $414.16 million, an increase from Q2 of 8.36%. Sales dropped to $4.36 billion, a 5.24% decrease between quarters. In Q2, Expeditors International earned $382.23 million, whereas sales reached $4.60 billion. Why Is ROCE Significant? Return on Capital Employed is a measure of yearly pre-tax profit relative to capital employed by a business. Changes in earnings and sales indicate shifts in a company's ROCE. A higher ROCE is generally representative of successful growth of a company and ...Full story available on Benzinga.com.....»»

Category: earningsSource: BENZINGADec 2nd, 2022Related News

Plug Power Earnings Perspective: Return On Capital Employed

According to data from Benzinga Pro, during Q3, Plug Power's (NASDAQ:PLUG) reported sales totaled $188.63 million. Despite a 1.46% increase in earnings, the company posted a loss of $170.76 million. In Q2, Plug Power brought in $151.27 million in sales but lost $173.30 million in earnings. Why Is ROCE Significant? Return on Capital Employed is a measure of yearly pre-tax profit relative to capital employed by a business. Changes in earnings and sales indicate shifts in a company's ROCE. A higher ROCE is generally representative of successful growth of a company and is a ...Full story available on Benzinga.com.....»»

Category: earningsSource: BENZINGADec 2nd, 2022Related News

Upstart Holdings Earnings Perspective: Return On Capital Employed

Benzinga Pro data, Upstart Holdings (NASDAQ:UPST) reported Q3 sales of $157.23 million. Earnings fell to a loss of $56.22 million, resulting in a 88.22% decrease from last quarter. Upstart Holdings collected $228.16 million in revenue during Q2, but reported earnings showed a $29.87 million loss. What Is Return On Capital Employed? Return on Capital Employed is a measure of yearly pre-tax profit relative to capital employed by a business. Changes in earnings and sales indicate shifts in a company's ROCE. A higher ROCE is generally representative of successful growth of a company and is ...Full story available on Benzinga.com.....»»

Category: earningsSource: BENZINGADec 2nd, 2022Related News

AMC Entertainment Hldgs Earnings Perspective: Return On Capital Employed

AMC Entertainment Hldgs (NYSE:AMC) brought in sales totaling $968.40 million during Q3 according to data provided by Benzinga Pro. However, earnings decreased 86.6%, resulting in a loss of $226.90 million. In Q2, AMC Entertainment Hldgs brought in $1.17 billion in sales but lost $121.60 million in earnings. What Is Return On Capital Employed? Earnings data without context is not clear and can be difficult to base trading decisions on. Return on Capital Employed (ROCE) helps to filter signal from noise by measuring yearly pre-tax profit relative to capital employed by a business. Generally, a higher ROCE ...Full story available on Benzinga.com.....»»

Category: earningsSource: BENZINGADec 2nd, 2022Related News

Occidental Petroleum Earnings Perspective: Return On Invested Capital

Pulled from Benzinga Pro data, Occidental Petroleum (NYSE:OXY) posted Q3 earnings of $2.75 billion, an increase from Q2 of 26.87%. Sales dropped to $9.50 billion, a 11.5% decrease between quarters. Occidental Petroleum reached earnings of $3.75 billion and sales of $10.73 billion in Q2. What Is Return On Invested Capital? Return on Invested Capital is a measure of yearly pre-tax profit relative to capital invested by a business. Changes in earnings and sales indicate shifts in a company's ROIC. A higher ROIC is generally representative of successful growth of a ...Full story available on Benzinga.com.....»»

Category: earningsSource: BENZINGADec 2nd, 2022Related News

Avid Technology Earnings Perspective: Return On Capital Employed

According to Benzinga Pro, during Q3, Avid Technology (NASDAQ:AVID) earned $12.02 million, a 63.05% increase from the preceding quarter. Avid Technology also posted a total of $102.98 million in sales, a 5.43% increase since Q2. In Q2, Avid Technology brought in $97.68 million in sales but only earned $7.37 million. What Is ROCE? Earnings data without context is not clear and can be difficult to base trading decisions on. Return on Capital Employed (ROCE) helps to filter signal from noise by measuring yearly pre-tax profit relative to capital employed by a business. Generally, a higher ROCE suggests successful growth ...Full story available on Benzinga.com.....»»

Category: earningsSource: BENZINGADec 2nd, 2022Related News

A-Mark Precious Metals"s Return On Capital Employed Insights

According to Benzinga Pro, during Q1, A-Mark Precious Metals (NASDAQ:AMRK) earned $45.24 million, a 20.73% increase from the preceding quarter. A-Mark Precious Metals's sales decreased to $1.90 billion, a 9.09% change since Q4. In Q4, A-Mark Precious Metals brought in $2.09 billion in sales but only earned $37.47 million. What Is Return On Capital Employed? Return on Capital Employed is a measure of yearly pre-tax profit relative to capital employed by a business. Changes in earnings and sales indicate shifts in a company's ROCE. A higher ROCE is generally representative of successful ...Full story available on Benzinga.com.....»»

Category: earningsSource: BENZINGADec 2nd, 2022Related News