Streetbeat News

Earnings

STM

STMicroelectronics reported a significant year-over-year revenue decline of 26.6% for Q3, with weak automotive demand and a gross margin squeeze. Despite exceeding EPS expectations, the company's shares fell 1.25%. The company plans to reshape its manufacturing footprint to improve efficiency and expects a slight revenue increase in Q4.

Portfolio Pulse from Lekha Gupta

October 31, 2024 | 5:09 pm

SMHI

SEACOR Marine Holdings reported a year-over-year decrease in Q3 EPS and worse-than-expected Q3 sales, leading to a decline in its share price.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2024 | 5:04 pm

ORN

Orion Group Holdings shares rose following the announcement of better-than-expected Q3 adjusted EPS results.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2024 | 4:58 pm

META

MSFT

QQQ

SPY

Investors are reacting negatively to strong earnings from Microsoft and Meta due to high expectations and concerns over spending and growth. Microsoft's Azure growth, although above consensus, is expected to slow, and Meta's capital expenditure is seen as high. Inflation data shows hotter-than-expected core PCE, indicating strong consumer spending. Money flows are negative for several major tech stocks and ETFs.

Portfolio Pulse from The Arora Report

October 31, 2024 | 4:56 pm

NNBR

NN Inc. shares are declining following the release of disappointing Q3 financial results.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2024 | 4:56 pm

IDXX

Idexx Laboratories reported a Q3 adjusted EPS of $2.79, beating expectations, but missed revenue estimates with $975.54 million. The company adjusted its full-year revenue guidance downwards due to slower growth from fewer veterinary visits. Despite short-term challenges, long-term growth is expected from increased pet ownership.

Portfolio Pulse from Vandana Singh

October 31, 2024 | 4:55 pm

MA

Mastercard reported strong Q3 earnings with revenue and EPS beating analyst estimates. The company saw significant growth in cross-border transactions and value-added services. Mastercard's stock has gained 35% over the past year, but is currently down 2.21%.

Portfolio Pulse from Anusuya Lahiri

October 31, 2024 | 4:49 pm

IMAX

Imax shares rose following the company's announcement of better-than-expected Q3 adjusted EPS results.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2024 | 4:48 pm

ABEV

Ambev's Q3 sales missed expectations, leading to a dip in shares. The company reported earnings per share in line with expectations, but sales fell short. Volume growth was stagnant, with declines in some regions. Increased costs also impacted results.

Portfolio Pulse from Nabaparna Bhattacharya

October 31, 2024 | 4:38 pm

EL

META

MSFT

USO

Microsoft's stock fell due to guidance issues, Estée Lauder withdrew its guidance, Meta shares declined, and oil prices rose.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2024 | 4:37 pm