Streetbeat News

Earnings

AMD

AVGO

NVDA

TSM

Taiwan Semiconductor Manufacturing Company Ltd (TSMC) expects a significant revenue rebound in the second half of the year, driven by the launch of new Apple iPhones and strong demand for AI chips from Nvidia, Broadcom, and AMD. The AI sector has seen a boost with companies like Alphabet's Google and Amazon entering the race. Nvidia has placed additional orders at TSMC, expecting Q2 revenue of $11 billion. Broadcom's AI-related customized chips have also seen increased orders from Google and Meta Platforms.

Portfolio Pulse from Anusuya Lahiri

July 05, 2023 | 12:09 pm

NKLA

Nikola Corporation (NASDAQ:NKLA) reported Q2 vehicle production and deliveries, with wholesale of 45 trucks and retail of 66 trucks. The company doubled its retail sales compared to Q1 and is planning to introduce a hydrogen fuel cell electric truck in Q3. Full financial results will be announced on August 4, 2023.

Portfolio Pulse from Happy Mohamed

July 05, 2023 | 12:05 pm

CASY

CHD

ODC

USFD

Four consumer staples stocks, Casey's General Stores (CASY), Church & Dwight (CHD), Oil-Dri Corporation of America (ODC), and US Foods Holding Corp. (USFD), are considered overbought with RSI values above 70, indicating they may be overvalued. CASY reported downbeat quarterly sales but closed the fiscal year with record growth. CHD is set to discuss Q2 earnings on July 28, 2023. ODC announced price increases on its products. Morgan Stanley upgraded USFD from Equal-Weight to Overweight and raised the price target from $46 to $54.

Portfolio Pulse from Lisa Levin

July 05, 2023 | 11:42 am

RIVN

Shares of Rivian Automotive, Inc. (NASDAQ:RIVN) surged in premarket trading following a positive second-quarter deliveries report. Needham analyst Chris Pierce reiterated a 'buy' rating and raised the price target from $26 to $28, suggesting a 43% upside. The company's Q2 production number of about 14,000 units marked a 50% quarter-over-quarter increase, suggesting that production bottleneck concerns were easing.

Portfolio Pulse from Shanthi Rexaline

July 05, 2023 | 11:39 am

JPM

JPMorgan Chase (NYSE:JPM) will host a conference call on July 14, 2023, to discuss Q2 2023 earnings results. The call will provide insights into the company's recent earnings reports and future performance expectations.

Portfolio Pulse from Benzinga Insights

July 05, 2023 | 11:35 am

TSLA

Tesla, Inc. (NASDAQ:TSLA) has reduced prices of its Model 3 and Y EVs in Japan by low single-digit percentages, continuing its aggressive pricing strategy into Q3. This follows Tesla's Q2 deliveries outperformance, partly attributed to price cuts and promotional measures. However, this move may stir investor anxiety concerning demand and margins ahead of the company’s earnings report due on July 19. In premarket trading, Tesla stock was down 0.60% at $278.14.

Portfolio Pulse from Shanthi Rexaline

July 05, 2023 | 11:15 am

SYT

SYLA Technologies Co Ltd (NASDAQ:SYT) has reiterated its 2023 financial guidance and plans to boost dividends per share. The company expects revenues between $183.7 million and $198.6 million, operating income between $6.3 million and $7.3 million, and EPS between $10.11 and $12.18. SYT plans to double its dividend per share to $1.04, with a long-term target of a dividend payout of 30% of net income. The company's shares closed lower by 0.55% at $7.18 on Monday.

Portfolio Pulse from Lekha Gupta

July 05, 2023 | 11:09 am

RIVN

Rivian's stock price is trading higher following Needham's decision to raise the price target from $26 to $28. This comes after Rivian reported its Q2 production figures.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2023 | 10:12 am

TSLA

The CNN Money Fear and Greed index showed a decline in overall sentiment among U.S. investors on Monday. U.S. stocks closed slightly higher on Monday, with the Nasdaq Composite recording the best first half since 1983. The ISM manufacturing PMI in the U.S. declined to 46 in June. Tesla shares jumped 6.9% on Monday after the company reported strong Q2 deliveries. Investors are awaiting the release of minutes from the recent Fed’s meeting on Wednesday.

Portfolio Pulse from Lisa Levin

July 05, 2023 | 6:29 am

TSLA

Tesla's China sales rose sharply in June, with 93,680 units of Giga Shanghai-made cars delivered, marking an 18.72% increase from a year ago and 20.57% upside from April’s sales. Tesla’s Q2 sales in China hit a record of 247,217 units, accounting for over 53% of the company's global deliveries. The strong sales figure was achieved on the back of promotional schemes and is expected to boost Tesla’s automotive margins due to the production efficiency and relatively cheap labor force at the Giga Shanghai factory.

Portfolio Pulse from Shanthi Rexaline

July 04, 2023 | 4:36 pm