Streetbeat News

Earnings

AEHR

CAG

CTAS

DAL

EDUC

FAST

FEIM

NTIC

OGI

PEP

PGR

RMCF

WIT

Several companies are scheduled to report their quarterly earnings on July 13, 2023. These include Progressive, Delta Air Lines, PepsiCo, Conagra Brands, Wipro, Northern Technologies, Fastenal, Cintas, OrganiGram Holdings, Frequency Electronics, Educational Development, Aehr Test Systems, and Rocky Mountain Chocolate.

Portfolio Pulse from Benzinga Insights

July 13, 2023 | 4:51 pm

CYRX

DAL

FWBI

JZXN

SNPX

SXTP

VSAT

U.S. stocks traded higher with the Nasdaq Composite gaining over 100 points. Delta Air Lines reported better-than-expected Q2 results with a 19% YoY adjusted operating revenue growth to $14.61 billion, beating the consensus of $14.46 billion. Shares of Jiuzi Holdings, Synaptogenix, and 60 Degrees Pharmaceuticals rose significantly. However, Viasat, Cryoport, and First Wave BioPharma shares dropped due to various reasons.

Portfolio Pulse from Lisa Levin

July 13, 2023 | 4:21 pm

SHOP

Shopify Inc's shares are trading higher due to positive analyst coverage from Roth MKM. The analyst maintained a Buy rating for Shopify and increased the price target from $68 to $73. This is based on positive channel checks and growth acceleration ahead of the company's Q2 earnings next month. Shopify is expected to report earnings of 6 cents per share on quarterly revenue of $1.62 billion.

Portfolio Pulse from Adam Eckert

July 13, 2023 | 3:49 pm

COIN

An option alert has been issued for Coinbase Global (COIN) for Friday $90 calls sweep near the ask price. The volume of this option is 402 at $2.7, compared to the open interest of 8205. The company's earnings report is expected on 8/8 after the market closes. The reference price is $89.51.

Portfolio Pulse from Charles Gross

July 13, 2023 | 3:41 pm

AMC

AMC Entertainment Holdings has an option alert for July 28 $4 calls at the ask price of $0.51 for 1000 shares, compared to an open interest of 4804. The company is expected to release its earnings report on August 3 after market close. The reference price is $4.441.

Portfolio Pulse from Charles Gross

July 13, 2023 | 3:21 pm

CHSCP

CHS Inc. (NASDAQ:CHSCP) reported Q3 FY23 net income of $547.5 million, down from $576.6 million in Q3 FY22. For the first nine months of FY23, net income was $1.6 billion with revenues of $36.1 billion, up from $1.2 billion and $34.4 billion respectively in the same period of FY22. The Energy segment saw strong earnings due to favorable market conditions, while the Ag segment saw decreased earnings due to market-driven price decreases for agronomy products.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 3:17 pm

NTIC

Northern Technologies International Corp (NTIC) reported Q3 FY23 sales of $20.97 million, a 10.6% YoY growth, but missed the estimate of $20.60 million. Adjusted EPS was $0.17, missing the consensus of $0.19. The company's sales growth was aided by solid performance across ZERUST Industrial, ZERUST oil and gas, and Natur-Tec segments. NTIC shares traded higher by 5.37% at $11.47 on the last check Thursday.

Portfolio Pulse from Nabaparna Bhattacharya

July 13, 2023 | 3:15 pm

PEP

SPY

Pepsi Co Inc (NASDAQ:PEP) beat Q2 revenue and earnings estimates and raised its full-year outlook, causing shares to rise over 2% in premarket trading. Net sales rose 10.4% to $22.32 billion, and net income rose to $2.75 billion. However, higher prices for Pepsi snacks and drinks resulted in a volume drop of 3%. The company's rival, Coca Cola Company (NYSE:KO), also sees a strong long-term perspective despite a sluggish macroeconomic environment. Both companies are part of the S&P 500 and holdings of its trailing ETF index, SPDR S&P 500 ETF Trust (NYSE:SPY).

Portfolio Pulse from Upwallstreet

July 13, 2023 | 3:14 pm

KAMN

PKE

Kaman (NYSE:KAMN) is distributing a dividend payout of $0.20 per share, resulting in an annualized dividend yield of 3.55%. The company has maintained a steady dividend per share of $0.80 from 2019 to 2022. However, Kaman's earnings per share decreased from $2.41 to $1.26 during the same period, which could impact its ability to sustain or increase its cash dividend payouts. Park Aerospace (NYSE:PKE) has the highest annualized dividend yield at 3.59% among its industry peers.

Portfolio Pulse from Benzinga Insights

July 13, 2023 | 3:06 pm

BHE

DSWL

Benchmark Electronics (NYSE:BHE) is set to deliver a dividend payout of $0.17 per share, equating to an annualized dividend yield of 2.69%. The company's dividend payout went ex-dividend on June 29, 2023. The company has seen an average increase in its dividend per share from $0.60 in 2019 to $0.66 in 2022. Earnings per share also increased from $1.46 to $1.99 during the same period. Benchmark Electronics finds itself in the middle ground among its industry peers in terms of dividend yield, with Deswell Indus (NASDAQ:DSWL) leading with a 7.75% yield.

Portfolio Pulse from Benzinga Insights

July 13, 2023 | 3:06 pm