Streetbeat News

Earnings

MTG

RBC Capital Markets analyst Scott Heleniak has downgraded MGIC Investment Corp (NYSE:MTG) to Sector Perform from Outperform with a price target of $17. The analyst believes MTG shares have reached fair value and anticipates increasing challenges in the housing market. Despite this, the company has improved its capital efficiency and risk management, and is expected to deliver strong earnings and shareholder returns in H2 2023 and 2024.

Portfolio Pulse from Lekha Gupta

July 06, 2023 | 7:03 pm

KNX

SNDR

UNP

Benchmark analyst Christopher Kuhn reiterated a Buy rating for Schneider National Inc (SNDR) with a $34 price target, despite lowering estimates ahead of its 2Q 2023 report. The lack of a seasonal uptick in 2Q has led to lower Intermodal volumes, impacting margins. Truckload volumes and rates were also lower in 2Q. However, the company's shift from truckload to intermodal and dedicated, and its plan to double its intermodal business by 2030, are seen as positive long-term strategies. The analyst reduced his 2Q 2023, FY 2023, and 2024 EPS estimates due to lower Intermodal, Truckload, and Logistics revenue and margins.

Portfolio Pulse from Anusuya Lahiri

July 06, 2023 | 5:47 pm

PLTR

Palantir Technologies Inc's (NYSE:PLTR) shares are trading lower alongside several tech companies due to concerns about further rate hikes following Thursday's jobs data. The ADP National Employment Report showed that U.S. private employers added 497,000 jobs in June, raising the likelihood of more interest rate hikes from the Federal Reserve. Despite the pullback, Palantir shares are up more than 85% over the last three months, driven by better-than-expected quarterly results and strong demand for its new AI platform.

Portfolio Pulse from Adam Eckert

July 06, 2023 | 5:42 pm

Ford Motor Company's Q2 truck sales increased by 26.2% Y/Y, with overall truck sales for the first half of 2023 totaling 549,625, up 23.1%, and outselling General Motors Company trucks and vans by approximately 61,000 trucks. Ford's overall EV sales were up 35.5% in June, with Mustang Mach-E gains up 110% Y/Y. However, Ford shares are trading lower by 2.35% to $14.99.

Portfolio Pulse from Nabaparna Bhattacharya

July 06, 2023 | 5:13 pm

KRUS

LEVI

PKE

SLP

Park Aerospace, Kura Sushi USA, Levi Strauss, and Simulations Plus are scheduled to report their earnings on July 6, 2023. Kura Sushi USA is projected to report earnings of $0.13 per share on revenue of $49.57 million. Levi Strauss is expected to report earnings of $0.03 per share on revenue of $1.34 billion. Simulations Plus is likely to report earnings of $0.20 per share on revenue of $16.34 million.

Portfolio Pulse from Benzinga Insights

July 06, 2023 | 4:59 pm

SOFI

SoFi Technologies, Inc. (NASDAQ:SOFI) shares are sliding lower due to overall market weakness, increased volatility following the recent debt ceiling deal, and the U.S. Supreme Court ruling to block President Biden's plan to cancel $430 billion in student debt. The company announced a conference call to discuss Q2 2023 financial and operating results on July 31. Over 15% of available SOFI shares are currently being sold short.

Portfolio Pulse from Erica Kollmann

July 06, 2023 | 4:32 pm

ASLN

BRQS

CRBU

MULN

VBIV

XXII

U.S. stocks traded lower with the Dow Jones dropping over 450 points. The ISM services PMI rose to 53.9 in June, from 50.3 in May. Caribou Biosciences, Mullen Automotive, and Borqs Technologies saw their shares rise after various announcements, while 22nd Century Group, VBI Vaccines, and ASLAN Pharmaceuticals saw their shares drop due to different reasons. Oil traded down 1.9% to $70.41 while gold traded down 0.8% at $1,911.10.

Portfolio Pulse from Lisa Levin

July 06, 2023 | 4:04 pm

A significant investor has taken a bearish stance on Li Auto (NASDAQ:LI), with 69% of recent trades being bearish and 30% bullish. The trades include 6 puts totaling $217,060 and 7 calls totaling $637,608. The targeted price range for Li Auto over the last 3 months has been $25.0 to $47.0. The current price of LI is down -0.66% at $35.52, and RSI indicators suggest the stock may be approaching overbought. The next earnings are expected in 39 days.

Portfolio Pulse from Benzinga Insights

July 06, 2023 | 4:01 pm

APO

A whale investor has taken a bearish stance on Apollo Global Management (NYSE:APO), with 83% of the investors opening trades with bearish expectations. The whales have been targeting a price range from $67.5 to $82.5 for Apollo Global Management over the last 3 months. The price of APO is currently down -2.8% at $73.9, and RSI indicators suggest that the stock may be approaching overbought. The next earnings are expected to be released in 28 days.

Portfolio Pulse from Benzinga Insights

July 06, 2023 | 3:47 pm

PKE

Park Aerospace Corp. (NYSE:PKE) reported a 21.7% YoY increase in Q1 FY24 sales to $15.55 million. EPS remained flat at $0.09, while adjusted EPS was $0.12. Adjusted EBITDA was $3.31 million, up from $2.80 million a year ago. Gross margin contracted by 90 bps to 31.1%, while gross profit increased by 18.1%. Earnings from operations fell 9.8% YoY to $2.22 million. The company recorded $570,000 of pre-tax activist shareholder defense costs and $65,000 of pre-tax losses on sales of investments to fund a special dividend. PKE shares are trading higher by 0.71% to $14.15.

Portfolio Pulse from Nabaparna Bhattacharya

July 06, 2023 | 2:56 pm