Streetbeat News

Earnings

AMC

AMC Entertainment Holdings Inc (NYSE:AMC) shares are trading lower after the company reported preliminary second-quarter results. AMC expects Q2 revenue of $1.03 billion, a loss of 10 cents per share, and adjusted EBITDA of $29.4 million. Despite the impact of the 2023 actors and writers strikes, AMC noted a significant increase in daily revenues in June 2024 and anticipates strong box office momentum in the second half of 2024 and beyond.

Portfolio Pulse from Adam Eckert

July 24, 2024 | 2:40 pm

LCID

LI

NIO

PSNY

TSLA

XPEV

Shares of EV stocks are trading lower in sympathy with Tesla, which fell after reporting mixed Q2 earnings.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 2:38 pm

LW

Lamb Weston Holdings, Inc. (NYSE:LW) shares dropped significantly after the company reported disappointing Q4 earnings and issued weak FY25 guidance. The company missed both revenue and earnings estimates, and expects continued challenges in FY25 due to declining volumes and increased expenses.

Portfolio Pulse from Nabaparna Bhattacharya

July 24, 2024 | 2:35 pm

PCAR

PACCAR shares are trading lower after Truist Securities maintained a Hold rating on the stock and lowered its price target from $115 to $107. The stock is also reacting to worse-than-expected Q2 financial results reported by the company.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 2:31 pm

FTV

Fortive shares are trading lower after the company reported worse-than-expected Q2 sales results and issued FY24 sales guidance below estimates.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 2:31 pm

SLAB

Silicon Laboratories Inc. (NASDAQ: SLAB) reported fiscal Q2 2024 sales of $145.37 million, down 40.6% YoY but beating the analyst consensus estimate. The company also reported an adjusted EPS loss of 56 cents, better than the expected loss of 64 cents. Despite a decline in margins and revenue, CEO Matt Johnson expects revenue growth in Q3 as inventory reduces and bookings improve. The company projects Q3 revenue of $160 million - $170 million, below the consensus of $172.76 million, and an adjusted EPS loss of 10 cents - 30 cents, against the consensus loss estimate of 18 cents. SLAB shares have plunged over 25% in the last 12 months.

Portfolio Pulse from Anusuya Lahiri

July 24, 2024 | 2:30 pm

SPOT

Spotify Technology shares are trading higher following multiple firms raising their price targets on the stock. This comes after Spotify reported better-than-expected Q2 EPS results.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 2:29 pm

FCX

Freeport McMoRan (NYSE:FCX) has announced a $7.5 billion expansion of its El Abra copper mine in Chile, aiming to boost production to 340,000 metric tons of copper annually by 2025. The expansion includes a new concentrator plant and desalination infrastructure. Additionally, Freeport declared a $0.15 per share dividend and initiated stock buybacks.

Portfolio Pulse from Stjepan Kalinic

July 24, 2024 | 2:23 pm

WFRD

Weatherford International shares are trading lower after the company reported worse-than-expected Q2 financial results.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 2:23 pm

ALKS

Alkermes shares are trading higher after the company reported better-than-expected Q2 financial results.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 2:23 pm