Streetbeat News

Earnings

ETRN

Equitrans Midstream (NYSE:ETRN) is set to release its latest quarterly earnings report on August 1, 2023. Analysts estimate an earnings per share (EPS) of $0.08. The company's past performance shows a pattern of beating EPS estimates, but this has not always led to an immediate increase in share price. The stock is currently trading at $10.33 and has seen a 19.28% increase over the last 52-week period.

Portfolio Pulse from Benzinga Insights

July 31, 2023 | 8:04 pm

AVTR

Avantor Inc (NYSE:AVTR) reported Q2 adjusted EPS of $0.28, missing the consensus of $0.29. Sales decreased 8.7% to $1.74 billion, below the consensus of $1.80 billion. The company's stock sold off 7% on Friday and trades at just 14.1 times EBITDA. William Blair analyst Matt Larew has downgraded Avantor to Market Perform from Outperform due to a challenging competitive environment. The company expects core organic revenue to decline 6.5%-4.5% in 2023.

Portfolio Pulse from Vandana Singh

July 31, 2023 | 7:53 pm

INTC

Intel shares are trading lower after the stock had gained last week due to strong earnings.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2023 | 7:52 pm

AMZN

SPKY

UVXY

Amazon.com, Inc (NASDAQ:AMZN) is trading slightly higher ahead of its Q2 earnings release on Thursday. Investors are keen to see how Amazon Web Services is performing, especially after Microsoft and Google reported slowed growth in their cloud businesses. Traders can trade the potential volatility using the ConvexityShares Daily 1.5x SPIKES Futures ETF (NYSE:SPKY), a 1.5x leveraged fund that tracks the SPIKES Futures Short-Term Index.

Portfolio Pulse from Melanie Schaffer

July 31, 2023 | 7:37 pm

DASH

UBER

JMP Securities analyst Andrew Boone reiterated DoorDash Inc (NYSE:DASH) with a Market Outperform and a $100 price target. Boone increased his 2024 EBITDA by 10% due to increased confidence in new verticals maturing and strong 2Q23 results. DoorDash's shares are up 43% since reporting 1Q23 earnings. The company's focus on new verticals and international investments are expected to further scale and surprise profitability to the upside into 2024. Boone also sees an opportunity for DoorDash to increase ad load and grow ad revenue.

Portfolio Pulse from Anusuya Lahiri

July 31, 2023 | 7:27 pm

ALGN

SDC

Shares of SmileDirectClub, Inc. (NASDAQ:SDC) rose on continued momentum from last week, possibly due to a short squeeze interest with a short float of 22.14%. The stock also benefited from a strong earnings report from Align Technology (NASDAQ:ALGN). SmileDirectClub is set to report Q2 earnings on Aug. 8, with an expected loss of 11 cents per share and revenue of $101.91 million.

Portfolio Pulse from Ryan Gustafson

July 31, 2023 | 7:23 pm

SAIA

YELL

Benchmark analyst Christopher Kuhn reiterated a Buy rating on Saia, Inc (NASDAQ:SAIA), raising the price target to $450 from $330. The analyst sees an opportunity for Saia to improve productivity in 2023 and increase yield as they benefit from issues at Yellow Corporation (NASDAQ:YELL). Saia recently reported Q2 results with revenue of $694.6 million, a 6.8% decrease Y/Y, but exceeded estimates. Saia added five new terminals this year and is on track to open 3 or 4 more.

Portfolio Pulse from Nabaparna Bhattacharya

July 31, 2023 | 7:20 pm

KNSL

Truist Securities analyst Mark Hughes has reiterated a Buy rating on Kinsale Capital Group, Inc. (KNSL) and raised the price target to $450 from $400. Hughes believes that inflation across the industry will be a net positive for KNSL. The company recently reported Q2 results with a 168.7% Y/Y increase in net income. Despite expecting inflation to prolong the challenging market through 2024 and beyond, the CEO believes inflation issues will drive robust and sustained growth in industry premiums.

Portfolio Pulse from Nabaparna Bhattacharya

July 31, 2023 | 7:18 pm

ANDE

Andersons (NASDAQ:ANDE) is set to release its latest quarterly earnings report on Tuesday, 2023-08-01. Analysts estimate an earnings per share (EPS) of $1.06. The company's past performance shows a pattern of beating EPS estimates, but this has sometimes been followed by a drop in share price. Over the last 52-week period, shares are up 33.18%.

Portfolio Pulse from Benzinga Insights

July 31, 2023 | 7:14 pm

LUMN

Lumen Technologies (NYSE:LUMN) is set to release its latest quarterly earnings report on August 1, 2023. Analysts estimate an earnings per share (EPS) of $0.09. The company's past performance shows a trend of beating EPS estimates but experiencing a drop in share price. Over the last 52-week period, LUMN shares are down 83.63%.

Portfolio Pulse from Benzinga Insights

July 31, 2023 | 7:14 pm