Streetbeat News

Earnings

CSX

CSX Corporation reported Q2 earnings in line with expectations, but sales missed estimates. The company's shares fell 4.5% in pre-market trading. Following the earnings announcement, Citigroup, Susquehanna, and BMO Capital adjusted their price targets on CSX.

Portfolio Pulse from Lisa Levin

July 21, 2023 | 12:14 pm

IPG

Interpublic Group of Companies, Inc. (IPG) shares are trading lower following the release of the company's Q2 financial results.

Portfolio Pulse from Benzinga Newsdesk

July 21, 2023 | 12:14 pm

AXP

American Express reported mixed Q2 financial results, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

July 21, 2023 | 12:11 pm

ISRG

Intuitive Surgical's shares are trading lower following the release of the company's Q2 financial results.

Portfolio Pulse from Benzinga Newsdesk

July 21, 2023 | 12:11 pm

CSX

CSX Corporation reported lower than expected sales results for Q2, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

July 21, 2023 | 12:10 pm

RF

Regions Financial Corp (NYSE:RF) reported Q2 FY23 revenue of $1.957 billion, a 12% Y/Y increase, beating the consensus of $1.95 billion. Net interest income rose 24.6% Y/Y to $1.38 billion, while provision for credit losses was $118 million, up from $60 million in the year-ago period. The company's EPS was $0.59, in line with consensus. Total deposits fell 10.1% Y/Y to $125.5 billion, while total loans rose 8.6% Y/Y to $98.6 billion. The company also raised its cash dividend by 20% to $0.24.

Portfolio Pulse from Lekha Gupta

July 21, 2023 | 12:09 pm

LCNB

LCNB Corp. reported Q2 earnings of $0.45 per share, beating the analyst consensus estimate of $0.36 by 25%. However, this is an 8.16% decrease from the same period last year. The company also reported quarterly sales of $17.82 million, surpassing the analyst consensus estimate of $14.30 million by 24.64%, but this is a 4.66% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 21, 2023 | 12:07 pm

TSLA

David Trainer, CEO of New Constructs, believes Tesla's stock is significantly overvalued, estimating its worth at $26 per share, a tenth of its recent closing price. Tesla's Q2 results led to a 9% drop in its shares and sparked debate about its valuation. Trainer's bearish outlook is based on falling demand, deteriorating margins, and a massive cash burn. However, Wedbush's Dan Ives sees Tesla's Q2 earnings positively, arguing that its gross margins are stabilizing and its full self-driving AI technology and EV charging network will boost future profits.

Portfolio Pulse from Benzinga Neuro

July 21, 2023 | 12:06 pm

AAPL

GOOG

GOOGL

MSFT

Microsoft CEO Satya Nadella's earnings have exceeded $1 billion, largely due to the company's stock surge and strategic investment in OpenAI's ChatGPT. Microsoft's shares have gained over 1,000% since Nadella became CEO in 2014, with a nearly 50% surge in 2023. A significant portion of Nadella's earnings comes from equity grants tied to performance and service time. Other tech CEOs, including Apple's Tim Cook and Alphabet's Sundar Pichai, have also seen significant paydays due to stock-based compensation plans.

Portfolio Pulse from Anusuya Lahiri

July 21, 2023 | 12:01 pm

ISRG

Intuitive Surgical, Inc. (NASDAQ:ISRG) reported better-than-expected Q2 earnings of $1.42 per share, beating market estimates of $1.33 per share. The company's quarterly sales were $1.756 billion, higher than the expected $1.74 billion. Despite the positive earnings report, the company's shares fell 4.2% to $333.00 in pre-market trading. Analysts from Wells Fargo and RBC Capital have increased their price targets on Intuitive Surgical following the earnings announcement.

Portfolio Pulse from Lisa Levin

July 21, 2023 | 11:56 am