Streetbeat News

Earnings

ANIX

EFSH

VIRC

Insiders at Virco Mfg. Corporation (VIRC), Anixa Biosciences, Inc. (ANIX), and 1847 Holdings LLC (EFSH) have recently made notable purchases of their companies' stocks. Virco's director bought 1,770 shares after the company posted a narrower-than-expected Q1 loss. Anixa's President, COO, and CFO acquired 5,500 shares following the issuance of a Canadian Patent for its CAR-T cancer therapy technology. A 10% owner of 1847 Holdings bought 72,327 shares as the company anticipates a 54% YoY increase in Q2 revenue.

Portfolio Pulse from Lisa Levin

July 24, 2023 | 11:43 am

TSLA

Tesla, Inc. (NASDAQ:TSLA) shares dipped in premarket trading on Monday despite a broader market rally. The stock has been on a downward trend since last Wednesday, even after reporting better-than-expected Q2 earnings and revenue. Analysts expressed concerns over the lack of clarity on the company's margin trajectory and potential future price cuts hinted by CEO Elon Musk. UBS downgraded Tesla from Buy to Neutral, but raised the price target from $220 to $270. Musk's rebranding of Twitter as 'X' also drew skepticism from analysts.

Portfolio Pulse from Shanthi Rexaline

July 24, 2023 | 11:41 am

DPZ

Domino's Pizza Inc (NYSE:DPZ) reported a Q2 FY23 sales decline of 3.8% YoY to $1.02 billion, missing the analyst consensus of $1.07 billion. The decrease was due to lower supply chain revenues and order volumes. However, global retail sales increased 5.8% excluding foreign currency impact. The company also reported global net store growth of 197 stores and an EPS of $3.08, beating the analyst consensus of $3.05. The company's Board declared a $1.21 per share quarterly dividend. DPZ shares are trading lower by 4.52% at $368.00 in premarket.

Portfolio Pulse from Shivani Kumaresan

July 24, 2023 | 11:14 am

HBT

HBT Financial reported Q2 earnings of $0.58 per share, missing the analyst consensus estimate of $0.59 by 1.69%. The company also reported quarterly sales of $58.79 million, missing the estimate of $59.24 million by 0.77%. Despite the misses, both earnings and sales increased compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2023 | 11:12 am

HOPE

Hope Bancorp reported Q2 earnings of $0.32 per share, beating the analyst consensus estimate of $0.30 by 6.67%. However, this is a 25.58% decrease from the same period last year. The company also reported quarterly sales of $147.70 million, beating the estimate of $141.07 million by 4.70%, but this is a 4.27% decrease from last year.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2023 | 11:06 am

BOH

Bank of Hawaii (NYSE:BOH) reported Q2 earnings of $1.12 per share, in line with analyst consensus. However, the company's quarterly sales of $167.60 million missed the estimate of $170.07 million by 1.45%. This represents a 18.84% decrease in earnings and a 4.26% decrease in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2023 | 10:47 am

ABNB

AMD

AXP

SLB

The S&P 500 and Dow Jones recorded slight gains on Friday, while the Nasdaq 100 also rose by 0.20%. Schlumberger Limited reported worse-than-expected Q2 revenue results, causing its shares to fall by 2.2%. American Express Company reported better-than-expected Q2 earnings and reaffirmed its FY23 outlook. The Fed is expected to increase interest rates by 25 basis points this week. The CBOE Volatility Index fell by 3.5%.

Portfolio Pulse from Lisa Levin

July 24, 2023 | 10:45 am

SAP

VOD

Vodafone Group Plc's shares are trading higher after its Q1 FY24 trading update. Despite a revenue decline of 4.8% Y/Y to €10.7 billion, organic revenues rose 3.7% Y/Y due to service revenue improvement across most European markets. However, service revenues fell in Germany, Italy, and Spain. UK and Africa saw growth in service revenue. Vodafone reiterated its FY24 adjusted EBITDAaL outlook at about €13.3 billion and adjusted free cash flow guidance at around €3.3 billion. The company also announced the appointment of Luka Mucic as the new CFO and Executive Director, effective September 1, 2023. Mucic previously worked at SAP SE as CFO for around nine years.

Portfolio Pulse from Lekha Gupta

July 24, 2023 | 10:41 am

GOOGL

META

MSFT

NFLX

QQQ

SPY

TSLA

US stocks are expected to start the week positively, driven by anticipation of tech earnings. The market has already factored in a 25 basis point hike from the Federal Reserve. Last week saw positive market performance from blue-chip and small-cap stocks, while tech stocks experienced turbulence due to earnings reports from Tesla and Netflix. The upcoming week is expected to be dictated by tech earnings, with Microsoft, Alphabet, and Meta Platforms being key. In premarket trading, the SPDR S&P 500 ETF Trust rose 0.24% and the Invesco QQQ ETF gained 0.29%.

Portfolio Pulse from Shanthi Rexaline

July 24, 2023 | 10:35 am

PHG

Koninklijke Philips N.V. (NYSE:PHG) reported a 9% YoY increase in Q2 comparable sales to €4.47 billion ($4.87 billion), driven by growth across all segments and geographies. The company's order book grew by 3% YoY, but comparable order intake declined 8% (-4% excluding Russia). The adjusted EBITA margin expanded by 490 bps to 10.1%, mainly driven by increased sales, royalty income, and productivity measures. Despite the positive report, PHG shares traded lower by 4.30% at $22.06 premarket on the last check Monday.

Portfolio Pulse from Anusuya Lahiri

July 24, 2023 | 10:25 am