Streetbeat News

Earnings

AMD

Advanced Micro Devices, Inc. (AMD) shares are trading lower ahead of its Q2 earnings report due in 14 days. The company is expected to report earnings per share of 57 cents and revenue of $5.31 billion. B of A Securities analyst Vivek Arya maintained a Neutral rating on AMD and lowered the price target from $135 to $130. Over the past 3 months, AMD's stock has risen by 30.55%.

Portfolio Pulse from Ryan Gustafson

July 18, 2023 | 6:14 pm

ET

Mizuho analyst Gabriel Moreen has reiterated a Buy rating on Energy Transfer LP (ET), raising the price target to $18 from $17. ET plans to release its Q2 2023 earnings on August 2, 2023. The analyst expects 'bolt-on M&A' to remain a cornerstone of ET's growth strategy, given its sprawling footprint and improved balance sheet. In May, ET announced a $1.45 billion acquisition of Lotus Midstream. Moreen raised the FY23 adj EBITDA estimate, but by a lesser amount than 1Q23 outperformance, to account for expected headwinds.

Portfolio Pulse from Nabaparna Bhattacharya

July 18, 2023 | 6:06 pm

ACI

KR

Telsey Advisory Group analyst Joseph Feldman reiterated a Market Perform rating on Albertsons Companies Inc (NYSE:ACI) with a price target of $27.25. Albertsons is expected to report 1Q23 earnings on July 25, but will not host an earnings call or provide guidance due to its pending merger with Kroger Co (NYSE:KR). The analyst maintains slightly above consensus 1Q23 sales and profit projections, citing supportive macro trends for the grocery industry. However, the company’s valuation remains dependent on its potential merger with Kroger.

Portfolio Pulse from Shivani Kumaresan

July 18, 2023 | 6:03 pm

SNV

Synovus Finl (NYSE:SNV) is set to release its quarterly earnings report on July 19, 2023. Analysts estimate an earnings per share (EPS) of $1.15. The company's past performance shows a mixed impact on the share price post-earnings release. The stock is currently trading at $32.84, down 12.51% over the last 52-week period.

Portfolio Pulse from Benzinga Insights

July 18, 2023 | 6:01 pm

RELL

Richardson Electronics (NASDAQ:RELL) is set to release its latest quarterly earnings report on July 19, 2023. Analysts estimate an earnings per share (EPS) of $0.19. The company's past performance shows a pattern of share price drops following earnings beats. The stock is currently trading at $15.51, down 5.74% over the last 52-week period.

Portfolio Pulse from Benzinga Insights

July 18, 2023 | 6:01 pm

MASI

Needham analyst Mike Matson has lowered his price target for Masimo Corporation (MASI) from $207 to $136 due to delays in large orders, lower inpatient census, and elevated inventory levels. The company's Q2 2023 preliminary results show expected revenues of $453 million-$457 million, lower than the consensus of $553.23 million. Matson also lowered 2023 and 2024 revenue and EPS estimates. Despite this, he believes new product launches and market share gains should enable continued growth in Masimo's medical unit.

Portfolio Pulse from Nabaparna Bhattacharya

July 18, 2023 | 5:56 pm

AMZN

PTON

Amazon's annual Prime Day event saw record gross merchandise volume (GMV) and unit sales, with over 375 million items sold worldwide, a 25% increase YoY. Prime Day GMV increased to $12.7 billion, up $600 million from 2022. The extension of Prime Day to third-party merchants using Buy with Prime may boost 3Q margins. The event also saw a 20% increase in 'Buy Now, Pay Later' (BNPL) orders. Peloton Interactive offered discounts on its bikes, ranking #2 and #17 among Amazon's best-selling exercise bikes. Despite the success, JMP Securities analyst Nicholas Jones does not expect significant movement in Amazon's shares in response to Prime Day.

Portfolio Pulse from Anusuya Lahiri

July 18, 2023 | 5:54 pm

BAC

MS

NVS

SCHW

SYF

Several companies are scheduled to report their quarterly earnings on July 18, 2023. These include Novartis, Charles Schwab, Bank of America, Synchrony Financial, Morgan Stanley, PNC Financial Services Group, Lockheed Martin, Bank of New York Mellon, Mercantile Bank, Prologis, Cambridge, JB Hunt Transport Services, Pinnacle Financial Partners, Western Alliance, Hancock Whitney, Fulton Financial, AAR, Omnicom Group, Equity Bancshares, Interactive Brokers Group, and United Community Banks.

Portfolio Pulse from Benzinga Insights

July 18, 2023 | 5:47 pm

BAC

BOH

Bank of Hawaii Corp (BOH) shares are trading higher by 7.75% amid earnings results from several banks. The company is expected to report EPS of $1.11 on revenue of $170.17 million in its upcoming second-quarter earnings report. Bank of America, a peer bank, announced a notable year-over-year net income growth of 19% for the second quarter of FY23.

Portfolio Pulse from Henry Khederian

July 18, 2023 | 5:40 pm

BAC

GS

Goldman Sachs Group Inc (GS) shares are trading higher by 2.5% amid earnings results from several banks. The company is expected to report EPS of $3.18 on revenue of $10.84 billion in its second-quarter earnings report. Bank of America announced a notable year-over-year net income growth of 19% for the second quarter of FY23, reaching $7.4 billion.

Portfolio Pulse from Henry Khederian

July 18, 2023 | 5:27 pm