Streetbeat News

Earnings

MAIN

Main Street Capital Corporation (MAIN) has announced preliminary Q2 distributable Net Investment Income (NII) of $1.11-$1.13.

Portfolio Pulse from Bill Haddad

July 18, 2023 | 11:04 am

CATC

Cambridge Bancorp (NASDAQ:CATC) reported Q2 adjusted earnings of $1.23 per share, beating the analyst consensus estimate of $1.18 by 4.24%. However, this is a 35.26% decrease from the same period last year. The company's quarterly sales were $39.79 million, missing the analyst consensus estimate of $40.61 million by 2.02%, and marking a 12.22% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 11:04 am

BAC

Bank of America has reported a Q2 provision for credit losses of $1.125 billion, up from $523 million year-over-year.

Portfolio Pulse from Bill Haddad

July 18, 2023 | 10:47 am

ABOS

FFIE

GDS

LITE

MASI

NKLA

SYF

Several stocks recorded losses in Tuesday's pre-market trading session. Masimo Corporation shares dipped 27.3% after reporting weak preliminary revenue results for Q2. Acumen Pharmaceuticals tumbled 9.5% after reporting a proposed public offering of common stock. Lumentum Holdings, GDS Holdings, Faraday Future Intelligent Electric, Nikola Corporation, and Synchrony Financial also saw declines.

Portfolio Pulse from Lisa Levin

July 18, 2023 | 10:46 am

BAC

Bank of America's Q2 sales have surpassed estimates, reporting $25.33B against the expected $25.05B.

Portfolio Pulse from Bill Haddad

July 18, 2023 | 10:46 am

BAC

Bank of America (NYSE:BAC) reported Q2 earnings of $0.88 per share, beating the analyst consensus estimate of $0.84 by 4.76 percent. This represents a 20.55 percent increase over earnings of $0.73 per share from the same period last year.

Portfolio Pulse from Bill Haddad

July 18, 2023 | 10:45 am

PNC

PNC Financial Services Group reported a 2% quarter-on-quarter decrease in its Q2 net interest income to $3.5 billion. The bank also reported a 2% decrease in average deposits to $425.7 billion.

Portfolio Pulse from Bill Haddad

July 18, 2023 | 10:40 am

PNC

PNC Financial Services Group reported Q2 earnings of $3.36 per share, beating the analyst consensus estimate of $3.28 by 2.44%. However, the company's quarterly sales of $5.29 billion missed the analyst consensus estimate of $5.45 billion by 2.88%. This represents a 1.75% decrease in earnings and a 3.46% increase in sales compared to the same period last year.

Portfolio Pulse from Bill Haddad

July 18, 2023 | 10:39 am

BK

Bank of New York Mellon (NYSE:BK) reported Q2 earnings of $1.38 per share, beating the analyst consensus estimate of $1.22 by 13.11%. This is a 33.98% increase from the same period last year. The company also reported quarterly sales of $4.45 billion, beating the analyst consensus estimate of $4.37 billion by 1.83%, a 4.61% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 10:36 am

SYF

Synchrony Financial (SYF) reported Q2 earnings of $1.32 per share, beating the analyst consensus estimate of $1.24 by 6.45%. However, this is a 17.5% decrease from the same period last year. The company also reported quarterly sales of $4.12 billion, in line with analyst estimates, marking an 8.36% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 10:32 am