Streetbeat News

Earnings

PHG

Philips has revised its FY23 expectations to mid-single-digit comparable sales growth and an adjusted EBITA margin at the upper end of the high-single-digit range. This is due to improved performance in H1, a solid order book, and ongoing actions to improve execution. The outlook excludes the impact of ongoing litigation and a US Department of Justice investigation related to the Respironics field action.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2023 | 5:41 am

PHG

Koninklijke Philips (NYSE:PHG) reported Q2 earnings of $0.30 per share, a 103.33% increase YoY. The company also reported $4.87 billion in sales, a 9.39% increase YoY.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2023 | 5:35 am

AXP

CSX

DPZ

NXPI

WHR

The CNN Money Fear and Greed index showed improved sentiment among U.S. investors as the Dow Jones recorded gains for a tenth straight session. The Dow rose 2.08% on a weekly basis, while the S&P 500 added 0.69%. American Express Company (AXP) and CSX Corporation (CSX) shares fell after reporting mixed and worse-than-expected Q2 results respectively. Investors are awaiting earnings results from Domino's Pizza, Inc. (DPZ), Whirlpool Corporation (WHR) and NXP Semiconductors N.V. (NXPI).

Portfolio Pulse from Lisa Levin

July 24, 2023 | 5:32 am

CVX

Chevron has reported a record 2Q23 Permian Basin production of 772,000 barrels of oil equivalent per day, marking an 11% YoY increase. The company's well performance in early 2023 is on track with full year guidance, and its deep resource inventory and advantaged royalty position is expected to deliver strong cash flow through 2040.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2023 | 5:12 am

CVX

Chevron has reported its 2Q23 earnings of $6.01 billion, with adjusted earnings of $5.78 billion. The adjusted EPS stands at $3.08, surpassing the estimate of $2.99.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2023 | 5:11 am

HSY

MDLZ

Candy companies are facing higher costs and reduced production due to tight sugar supplies, attributed to U.S. agriculture policy mandating that at least 85% of U.S. sugar purchases must be sourced from domestic processors. This has led to limited supplies and elevated prices during periods of high demand. Hershey Co (HSY) and Mondelez International Inc (MDLZ) acknowledged the elevated sugar prices during their company earnings calls in April. The USDA predicts that tight supplies worldwide and weather concerns will keep U.S. sugar prices high.

Portfolio Pulse from Bibhu Pattnaik

July 23, 2023 | 3:56 pm

FSR

NKLA

RIVN

TSLA

Tesla's Q2 earnings beat expectations but the stock fell by about 10% due to concerns about the quality of earnings and unclear margin outlook. Rivian is expected to exceed its full-year delivery guidance of 50,000 units, according to Mizuho analyst Vijay Rakesh. Nikola is selling its Phoenix Hydrogen Hub project to Fortescue Future Industries. Fisker confirmed it will produce 100 Fisker Extreme Vigyan Edition, an all-electric SUV, for the Indian market. Ford cut prices of all trims of its F-150 Lightning pickup truck, seen as a preemptive move ahead of Tesla's Cybertruck launch.

Portfolio Pulse from Shanthi Rexaline

July 22, 2023 | 12:19 pm

AVGO

NVDA

TSLA

Investing champion David Ryan suggests that Tesla's strong performance might be slowing down, pointing out that the company's stock had made three significant moves since June 21, but the latest move occurred in lower trading volume, followed by a pullback with higher-than-average volume. Portfolio manager Irusha Peiris sold a portion of his Tesla stock when it fell below the 21-day line, expressing disappointment in its performance. After Tesla reported its earnings, the company's shares experienced a sharp drop of nearly 10%, causing it to lose around $90 billion in market capitalization.

Portfolio Pulse from Ananya Gairola

July 22, 2023 | 3:11 am

ABIO

ARCA biopharma (NASDAQ:ABIO) reported Q2 losses of $(0.10) per share, a 54.55% improvement from $(0.22) per share losses in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 21, 2023 | 8:26 pm

JMSB

John Marshall Bancorp (NASDAQ:JMSB) reported a decrease in Q2 earnings and sales YoY. Earnings per share fell by 42.86% to $0.32, and sales dropped by 27.12% to $12.69 million.

Portfolio Pulse from Benzinga Newsdesk

July 21, 2023 | 8:19 pm