Streetbeat News

Earnings

GNTY

Guaranty Bancshares reported Q3 earnings of $0.54 per share, a 40.66% decrease from the same period last year. The company also reported quarterly sales of $28.14 million, missing the analyst consensus estimate of $29.02 million by 3.05%.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 11:03 am

GLD

SPY

USO

On Friday, October 13, the U.S. stock markets closed mixed due to declining consumer confidence and Middle East tensions, despite positive earnings from major U.S. banks. Energy, utilities, and consumer staples sectors led the gains in the S&P500. Asian markets closed lower on Monday, with investors cautious ahead of crucial inflation data. European markets were mixed, while commodities saw crude oil trading higher and gold trading lower. U.S. futures were mixed, and the U.S. Dollar Index was down.

Portfolio Pulse from Akanksha Bakshi

October 16, 2023 | 10:52 am

TSLA

Tesla, Inc. (NASDAQ:TSLA) is set to release its Q3 results, with concerns over further margin erosion. However, retail investors seem more focused on the number of Cybertrucks Tesla plans to deliver in 2024 and the availability of the Model 3 refresh in the U.S. Tesla's auto gross margin has been declining for the past three quarters, but analysts have high hopes for the Cybertruck, which could boost the company's overall volume in 2024. Tesla's stock slipped 0.85% in premarket trading.

Portfolio Pulse from Shanthi Rexaline

October 16, 2023 | 10:42 am

AVNT

CFB

ELS

EPAC

FBK

GNTY

HDB

SCHW

SFBS

YTRA

Several companies are scheduled to report their earnings on October 16, 2023. These include Charles Schwab, Guaranty Bancshares, Yatra Online, HDFC Bank, Equity Lifestyle Props, FB Financial, CrossFirst Bankshares, Servisfirst Bancshares, Avient, and Enerpac Tool Group. The earnings reports are expected to provide insights into the companies' financial performance.

Portfolio Pulse from Benzinga Insights

October 16, 2023 | 9:08 am

BNTX

BioNTech is assessing the potential impact of Pfizer's write-offs and other charges related to COMIRNATY on its financial results. The company expects to recognize the effect of these write-offs in the third quarter of 2023, which could amount to €0.9 billion. This will reduce the revenues BioNTech would report for 2023. The financial report for the third quarter of 2023 is expected to be released on November 6, 2023.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 7:57 am

EGY

VAALCO Energy, Inc. (NYSE:EGY) has reported strong operational performance in Q3 2023, with production of nearly 19,000 net revenue interest barrels of oil equivalent per day (NRI BOEPD) and sales volumes of almost 19,900 NRI BOEPD. The company also completed an additional crude sales lifting in Gabon of about 600,000 gross barrels of oil in the first week of October. Furthermore, VAALCO's cash and cash equivalents grew to over $100 million at the end of September 2023, more than double the amount as of June 30, 2023.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 7:33 am

SPY

TSLA

The third-quarter reporting season is starting with high-profile names from the financial and tech sectors. S&P 500 earnings are expected to increase for the first time in a year, with a blended year-over-year growth estimated at 0.4%. Major banks and financial services companies, transportation companies, and tech companies are set to report their earnings this week. Tesla's report is the most awaited, with concerns about margin erosion due to its downward price adjustments. The SPDR S&P 500 ETF Trust ended Friday’s session down 0.50% at $431.50.

Portfolio Pulse from Shanthi Rexaline

October 16, 2023 | 7:11 am

FBK

HDB

NVFY

PFE

SCHW

Charles Schwab, Pfizer, FB Financial Corporation, Nova Lifestyle, and HDFC Bank are the stocks to watch heading into Monday. Charles Schwab is expected to report quarterly earnings of 75 cents per share on revenue of $4.66 billion. Pfizer lowered its full-year revenue outlook by 13% due to weaker-than-expected covid-19 sales. FB Financial Corporation is expected to have earned 69 cents per share on revenue of $122.89 million. Nova Lifestyle filed for a mixed shelf of up to $55 million. HDFC Bank is expected to report quarterly earnings of 45 cents per share.

Portfolio Pulse from Lisa Levin

October 16, 2023 | 5:36 am

FBK

JPM

SCHW

The CNN Money Fear and Greed index showed an increase in fear among US investors, with the index remaining in the 'Fear' zone. US stocks mostly settled lower on Friday due to an increase in crude oil prices and higher inflation expectations. However, the Dow and S&P 500 recorded weekly gains. JPMorgan Chase & Co. and Citigroup Inc reported strong Q3 earnings. Investors are awaiting earnings results from The Charles Schwab Corporation and FB Financial Corporation.

Portfolio Pulse from Lisa Levin

October 16, 2023 | 5:35 am

ARKK

TSLA

Ark Invest, managed by Cathie Wood, sold Tesla shares worth $20.67 million last week through its Ark Innovation ETF. Despite the sale, Tesla remains ARK's top holding with a 10.46% weighting in the fund's portfolio. Tesla is set to report its Q3 results this week, with analysts expecting a decrease in earnings per share but a 10% increase in revenue year-over-year.

Portfolio Pulse from Shanthi Rexaline

October 15, 2023 | 3:40 pm