Streetbeat News

Earnings

XCUR

Exicure reported Q1 losses of $(0.70) per share, a 66.67% increase over losses of $(2.10) per share from the same period last year. The company's cash, cash equivalents and restricted cash were $11.2M as of March 31, 2023.

Portfolio Pulse from Benzinga Newsdesk

July 14, 2023 | 8:04 pm

AMZN

C

GOOG

JPM

MSFT

WFC

The S&P 500 and other major indexes closed the week higher due to positive inflation data and strong earnings reports from major banks. Alphabet, Amazon, and Microsoft led the market optimism. Alphabet's shares climbed after the launch of its AI search engine assistant Bard in Europe and Brazil. Amazon's stock surged after its 'Prime Day' event registered a 13% jump from last year. Microsoft's shares rose after a federal judge ruled in favor of the company in a lawsuit filed by the FTC. Wells Fargo and JP Morgan Chase shares rose after beating consensus estimates in their earnings reports. Citigroup's shares dropped after announcing a 36% drop in net income for the second quarter.

Portfolio Pulse from Natan Ponieman

July 14, 2023 | 7:50 pm

PNC

PNC shares are trading lower, potentially in response to recent earnings reports in the financial sector.

Portfolio Pulse from Benzinga Newsdesk

July 14, 2023 | 7:37 pm

NTRS

Shares of Northern Trust are trading lower, potentially in response to recent earnings reports in the financial sector.

Portfolio Pulse from Benzinga Newsdesk

July 14, 2023 | 7:23 pm

AR

Benchmark analyst Subash Chandra reiterated a Buy rating on Antero Resources Corporation (AR), but lowered the price target to $32 from $36. The company's Q2 earnings release is due on July 26, 2023. The analyst lowered the realized gas and NGL price expectations to $2.15/$24 from $2.60/$28 and expects AR to outspend $190 million this quarter. However, the analyst expects natural gas prices to trend higher into the heating season and a rebound in product prices could coincide with a seasonal decline in capex.

Portfolio Pulse from Nabaparna Bhattacharya

July 14, 2023 | 7:15 pm

CTAS

Cintas Corp (NASDAQ:CTAS) reported a Q4 earnings beat, leading several analysts to raise their price targets for the company. The company reported a 10.1% YoY sales growth to $2.28 billion, beating the analyst consensus. Cintas sees FY24 revenue of $9.35 billion - $9.50 billion. Deutsche Bank, Argus Research, Morgan Stanley, Wells Fargo, and Barclays all raised their price targets for CTAS.

Portfolio Pulse from Lekha Gupta

July 14, 2023 | 6:47 pm

WFC

Wells Fargo & Co (NYSE:WFC) reported upbeat Q2 earnings, beating estimates on both top and bottom lines. The bank posted a net income of $4.9 billion, up from $3.1 billion in the same quarter last year, largely due to higher interest rates. It also repurchased 100.2 million shares during the quarter, totaling a $4 billion buyback. The bank's stock is trading 0.55% lower at the time of writing. For an investor to yield $500 per month from the stock, they would need to hold approximately $218,181.81 in the stock, or 5,019 shares.

Portfolio Pulse from AJ Fabino

July 14, 2023 | 6:43 pm

MRO

Benchmark analyst Subash Chandra has reiterated a Buy rating on Marathon Oil Corporation (MRO), but lowered the price target to $28 from $32 due to declining commodity prices. The analyst expects MRO to generate solid FCF in Q2 2023, with strong production in Delaware. However, the EPS estimate for Q2 has been reduced to $0.44 from $0.55, and the EBITDA forecast has been lowered to $942 million from $978 million due to unfavorable commodity prices. Equity income from Equatorial Guinea is expected to be lower than guidance due to declining oil and LNG prices. MRO shares are currently trading lower by 3.6% to $24.20.

Portfolio Pulse from Nabaparna Bhattacharya

July 14, 2023 | 6:29 pm

BK

Bank of New York Mellon's shares are trading lower, possibly in response to recent earnings reports in the financial sector.

Portfolio Pulse from Benzinga Newsdesk

July 14, 2023 | 6:05 pm

DAL

Delta Air Lines shares are trading lower after the stock gained on Thursday on Q2 results.

Portfolio Pulse from Benzinga Newsdesk

July 14, 2023 | 6:04 pm