Streetbeat News

Earnings

UAL

United Airlines CEO Scott Kirby discussed the company's Q2 earnings on CNBC. The earnings were reported on July 19, 2023.

Portfolio Pulse from Happy Mohamed

July 20, 2023 | 12:52 pm

GLD

NFLX

TSLA

UUP

The number of Americans applying for unemployment benefits was lower than anticipated last week, indicating the strength of the U.S. labor market. However, investors expect the Federal Reserve to conclude its tightening cycle after hiking for the last time next week. Futures on the S&P 500 Index and the Nasdaq 100 Index were in the red due to disappointing earnings reports from Tesla Inc. and Netflix Inc. The U.S. dollar index, tracked by the Invesco DB USD Index Bullish Fund ETF, was 0.2% higher, while gold, tracked by the SPDR Gold Trust, ticked 0.1% lower.

Portfolio Pulse from Piero Cingari

July 20, 2023 | 12:49 pm

PM

Philip Morris International Inc (NYSE:PM) reported Q2 FY23 sales growth of 14.5% year-on-year to $8.97 billion, beating the analyst consensus of $8.65 billion. The company's cigarette and Heated Tobacco unit (HTU) shipment volume grew by 3.3% Y/Y, with HTUs growing by 26.6% and cigarettes declining by 0.4%. Revenue from smoke-free products increased 34.1% Y/Y to $3.2 billion. The company revised its FY23 adjusted EPS outlook from $6.10 - $6.22 to $6.13 - $6.22.

Portfolio Pulse from Shivani Kumaresan

July 20, 2023 | 12:47 pm

TFC

Truist Financial reported lower-than-expected Q2 earnings results, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 12:45 pm

BCBP

BCB Bancorp reported Q2 earnings of $0.50 per share, missing the analyst consensus estimate of $0.54 by 7.41%. This is a 13.79% decrease from the same period last year. The company also reported quarterly sales of $28.11 million, missing the analyst consensus estimate of $29.22 million by 3.81%. However, this is a 2.48% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 12:45 pm

PHUN

Phunware, Inc. (NASDAQ:PHUN) has announced a series of strategic cost-saving measures, including a 33% reduction in workforce, to improve its financial performance and accelerate its path to profitability. The company expects to realize annual run-rate cost savings of over $5.0 million. The measures also include streamlining operations, reducing non-essential expenses, and optimizing use of existing resources.

Portfolio Pulse from Happy Mohamed

July 20, 2023 | 12:43 pm

CASS

Cass Information Sys (NASDAQ:CASS) reported Q2 earnings of $0.52 per share, missing the analyst consensus estimate of $0.67 by 22.39%. This is a 16.13% decrease from the same period last year. The company also reported quarterly sales of $48.21 million, missing the analyst consensus estimate of $49.67 million by 2.95%. However, this is a 9.01% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 12:41 pm

AAPL

NVDA

TSM

Taiwan Semiconductor Manufacturing Company Ltd (TSM) reported a Q2 revenue decline of 13.7% YoY to $15.68 billion, beating consensus estimates. The company's gross margin contracted due to lower capacity utilization and higher electricity costs. TSMC, a supplier to Apple Inc (AAPL) and Nvidia Corp (NVDA), projected a 10% fall in sales in FY23. The company also postponed production at a planned facility in Arizona until 2025.

Portfolio Pulse from Anusuya Lahiri

July 20, 2023 | 12:37 pm

BSGM

DHI

GRRR

Gorilla Technology (GRRR) has entered a strategic relationship with British Telecom for an AI-powered smart port solution, causing its stock to rise by 43.75%. BioSig AI Sciences (BSGM) has been selected for the NVIDIA Inception Partnership Program to support R&D collaboration on an AI medical device platform for hospitals, leading to a 36% increase in its stock. D.R. Horton (DHI) reported Q3 EPS of $3.90, beating the $2.79 estimate, and sales of $9.72B, beating the $8.39B estimate, resulting in a 6% increase in its stock.

Portfolio Pulse from ryanfaloona@benzinga.com

July 20, 2023 | 12:36 pm

SGMA

Sigmatron International reported Q4 earnings of $0.04 per share, a 60% decrease YoY. However, the company's sales increased by 9.07% to $108.23 million compared to $99.23 million in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 12:36 pm