Streetbeat News

Earnings

FBK

FB Financial (NYSE:FBK) reported Q2 earnings of $0.77 per share, beating the analyst consensus estimate of $0.65 by 18.46%. However, the company's quarterly sales of $125.70 million missed the analyst consensus estimate of $128.28 million by 2.01%. This represents a 9.09% decrease over sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2023 | 8:17 pm

SOFI

SoFi Technologies, Inc. (NASDAQ:SOFI) shares are trading higher ahead of its Q2 2023 earnings report due on July 31. The company is expected to report a loss of six cents per share and revenue of $475.94 million. At the time of the news, SOFI shares were up 5.12% at $9.55.

Portfolio Pulse from Ryan Gustafson

July 17, 2023 | 8:01 pm

INTC

Intel Corporation (NASDAQ:INTC) shares moved higher on Monday ahead of its Q2 2023 financial results announcement on July 27. The company's stock has seen activity in the past month with several price target changes ranging from $17 to $39. China's restrictions on the export of metals used in chip production also impacted semiconductor and chip companies, including Intel.

Portfolio Pulse from Ryan Gustafson

July 17, 2023 | 8:00 pm

WFC

Wells Fargo & Co (NYSE:WFC) shares are trading higher following better-than-expected Q2 financial results. The company reported a 57% surge in profit to $4.9 billion, largely due to increased interest payments from customers. The bank's net interest income grew by 29% to $13.16 billion, facilitated by banks raising borrowing costs in response to Federal Reserve rate hikes. The consumer and small business banking sector reported earnings of $6.6 billion, a 19% increase from the previous year.

Portfolio Pulse from Henry Khederian

July 17, 2023 | 7:39 pm

BAC

Bank of America Corp (BAC) shares are trading higher by 1.01% to $29.41. The rise is attributed to last week's strong earnings from JPMorgan and Wells Fargo. The market is anticipating Bank of America's second-quarter earnings report, expected to be released on Tuesday. The company is projected to report EPS of 84 cents on revenue of $25.05 billion.

Portfolio Pulse from Henry Khederian

July 17, 2023 | 7:38 pm

UNH

UnitedHealth Group (UNH) reported Q2 profits of $5.5 billion, up 8% Y/Y, leading Oppenheimer analyst Michael Wiederhorn to reiterate an Outperform rating with a price target of $610. Despite rising costs, UNH's health insurance plans and Optum medical provider businesses grew by double-digit percentages. The company also raised the lower end of its FY2023 guidance range. Post-Q2, Wiederhorn adjusted FY2023/2024/2025 EPS estimates slightly.

Portfolio Pulse from Nabaparna Bhattacharya

July 17, 2023 | 7:25 pm

C

Oppenheimer analyst Chris Kotowski has reiterated an Outperform rating on Citigroup, Inc. (NYSE:C), increasing the price target to $88 from $84. Despite a 1% YoY decline in Q2 FY23 net revenue to $19.44 billion, the figure beat the consensus of $19.27 billion. EPS was also above consensus at $1.33. Citigroup completed a billion dollars of share buy-backs this quarter, reducing the share count since 2015 by 35%. The bank expects FY23 adjusted revenue of $78 billion - $79 billion.

Portfolio Pulse from Nabaparna Bhattacharya

July 17, 2023 | 7:06 pm

BBIO

GNTY

GP

JZXN

NOVN

PMN

VRAY

U.S. stocks traded higher with the Dow Jones gaining 0.25%. Guaranty Bancshares (GNTY) reported better-than-expected Q2 results. ProMIS Neurosciences (PMN), BridgeBio Pharma (BBIO), and GreenPower Motor Company (GP) saw their shares rise after positive news. Novan (NOVN), ViewRay (VRAY), and Jiuzi Holdings (JZXN) shares fell due to various reasons. Oil traded down 1.8% to $74.08.

Portfolio Pulse from Lisa Levin

July 17, 2023 | 7:05 pm

SCHW

Charles Schwab (NYSE:SCHW) is set to release its quarterly earnings report on Tuesday, 2023-07-18, with analysts estimating an earnings per share (EPS) of $0.71. The company's past performance shows a trend of beating EPS estimates, which has often resulted in a share price increase. However, the stock has been trading at $58.52 as of July 14, with a 52-week return of -6.28%.

Portfolio Pulse from Benzinga Insights

July 17, 2023 | 7:00 pm

NOW

A significant investor has taken a bearish stance on ServiceNow (NYSE:NOW), with 80% of recent trades indicating bearish expectations. The targeted price range for ServiceNow over the last 3 months is $490.0 to $700.0. The current price of NOW is up 2.19% at $593.08, with RSI indicators suggesting the stock may be approaching overbought. The next earnings are expected in 9 days.

Portfolio Pulse from Benzinga Insights

July 17, 2023 | 6:32 pm