Streetbeat News

Earnings

LOGI

Logitech International S.A. (NASDAQ: LOGI) reported Q1 FY24 revenue of $974.5 million, exceeding the consensus of $912.3 million, despite a 16% Y/Y decrease. Sales in various categories fell, with the largest decrease in Keyboards & Combos sales (21% Y/Y). Adjusted EPS of $0.65 beat the consensus of $0.45. The company revised its H1 FY24 guidance upwards and announced a new, three-year share buyback program of up to $1 billion. LOGI shares are trading higher by 6.54% premarket.

Portfolio Pulse from Lekha Gupta

July 25, 2023 | 9:50 am

SBSI

Southside Bancshares (NASDAQ:SBSI) reported Q2 earnings of $0.81 per share, beating the analyst consensus estimate of $0.69 by 17.39%. This is a 2.53% increase from the same period last year. However, the company's quarterly sales of $64.38 million missed the analyst consensus estimate of $65.50 million by 1.71%, but it's a 6.99% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 9:48 am

AMC

CVX

GOOGL

META

MSFT

NVDA

TSLA

The S&P 500 and Dow Jones closed higher on Monday, with the latter recording its longest winning streak in six years. Investors are awaiting earnings reports from Microsoft, Alphabet, and Meta Platforms. The Fed is expected to increase interest rates by 25 basis points. Chevron Corporation's shares rose around 2% due to strong preliminary quarterly earnings, while AMC Entertainment Holdings' shares jumped 33% after a court rejected its plan to convert preferred shares to common units and implement a stock split. The Nasdaq 100 gained 0.14% due to gains in shares of Tesla Inc and NVIDIA Corp.

Portfolio Pulse from Lisa Levin

July 25, 2023 | 9:48 am

Unilever reported H1 earnings of $1.50 per share, a 4.9% increase from $1.43 YoY. The company also reported sales of $32.89 billion, a 4.19% increase from $31.57 billion YoY.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 9:40 am

GOOGL

META

MSFT

James Demmert, Chief Investment Officer of Main Street Research, warns that the current bull run in the stock market, driven by FOMO and AI hype, may not be sustainable. He advises investors to be patient and use any corrections as a buying opportunity. He also anticipates that the Federal Reserve might take a tougher approach at its policy meeting, which could lower stock prices. Furthermore, he suggests that upcoming earnings reports from big tech companies like Alphabet, Meta, and Microsoft could weaken the AI sector.

Portfolio Pulse from Benzinga Neuro

July 25, 2023 | 9:16 am

GOOGL

MSFT

NXPI

Microsoft, Alphabet, NXP Semiconductors, General Electric, and General Motors are expected to be in focus for investors on Tuesday. Microsoft and Alphabet are expected to post earnings after the closing bell, while General Electric is expected to report before the opening bell. NXP Semiconductors reported better-than-expected Q2 results and issued a strong Q3 forecast. General Motors is also expected to report earnings after the closing bell.

Portfolio Pulse from Lisa Levin

July 25, 2023 | 9:09 am

MSFT

Microsoft Corporation (NASDAQ:MSFT) is expected to report higher quarterly earnings at $2.55 per share, up from $2.23 per share a year ago. The company's revenue is projected to be $55.47 billion. Microsoft shares rose 0.4% to close at $345.11 on Monday. Several analysts have recently updated their price targets for Microsoft, with most predicting an upside in the company's stock.

Portfolio Pulse from Lisa Levin

July 25, 2023 | 7:39 am

Unilever reported H1 earnings of $1.51 per share, a 5.94% increase YoY. The company also reported sales of $33.17 billion, a 5.06% increase YoY.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 7:30 am

DASTY

Dassault Systemes has reaffirmed its FY23 guidance, projecting an EPS of €1.18-€1.20 and revenue of €5.94B-€5.99B. For Q3, the company expects revenue of €1.402-€1.424B and an EPS of €0.26-€0.27. The company's software revenue growth is expected to be 8-9% for FY23 and 9-10% for Q3. The operating margin is projected to be 32.3%-32.6% for FY23 and 30.2%-30.5% for Q3.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 6:57 am

DASTY

Dassault Systemes reported Q2 earnings of $0.30 per share, beating the analyst consensus estimate by 1.67%. This is an 8.93% increase from the same period last year. However, the company's quarterly sales of $1.58 billion missed the analyst consensus estimate of $1.64 billion by 3.66%, though it's a 7.12% increase from last year.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 6:52 am