Streetbeat News

Earnings

BA

GM

QQQ

SPY

TSLA

US stocks are set to open mixed as investors await earnings from major companies like Tesla, Boeing, and GM. Despite geopolitical tensions, the market shows bullish trends, with the S&P 500 on a six-week gain streak. Analysts remain optimistic about the bull market's longevity.

Portfolio Pulse from Rounak Jain

October 21, 2024 | 11:02 am

GNTY

Guaranty Bancshares reported Q3 2024 earnings per share of $0.65, surpassing the analyst estimate of $0.60. The company's sales were $29.345 million, slightly above the expected $29.297 million, marking a 4.30% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 10:50 am

AAPL

NFLX

NVDA

U.S. markets closed higher with record highs in major indexes, driven by strong Netflix earnings and tech stock gains. Key tech stocks like Apple and Nvidia contributed to the rally. U.S. housing stats showed a decline, while most S&P 500 sectors closed positively. In Asia, Japan and Australia saw gains, while India and Hong Kong declined. European markets opened lower. Commodities like crude oil and gold rose, while U.S. futures indicated a slight decline. The U.S. dollar strengthened.

Portfolio Pulse from Akanksha Bakshi

October 21, 2024 | 10:32 am

TPC

Tutor Perini has made significant progress in resolving major disputes and expects to return to profitability by 2025. Despite a $102 million charge from an adverse arbitration decision, the company anticipates a $180 million cash inflow from other resolved disputes.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 10:21 am

TPC

Tutor Perini has withdrawn its EPS guidance for 2024, expecting a loss from construction operations and negative EPS for Q3. Despite this, the company anticipates strong operating cash flow for 2024, allowing for significant debt prepayments.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 10:18 am

ROAD

Construction Partners projects FY25 revenue between $2.42B and $2.52B, surpassing estimates of $2.09B. The company anticipates net income of $90M to $106M and adjusted EBITDA of $338M to $368M, with a margin of 14.0% to 14.6%. These projections include results from Asphalt Inc., LLC.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 10:11 am

ISTR

Investar Holding reported a Q3 2024 adjusted EPS of $(0.45), missing the estimate of $0.33. However, their sales were $21.4M, surpassing the expected $19.6M.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 10:11 am

ROAD

Construction Partners has reported preliminary fiscal year 2024 revenue estimates of $1.821B to $1.825B, which is below the previous estimate of $1.843B. Despite this, net income and adjusted EBITDA are expected to increase significantly compared to fiscal 2023. The company also anticipates a higher project backlog by the end of September 2024.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 10:09 am

ROAD

Construction Partners, Inc. (CPI) has agreed to acquire Asphalt Inc., LLC, known as Lone Star Paving, for $654 million in cash and 3 million shares of Class A Common Stock. This acquisition is expected to be immediately accretive to earnings and contribute significantly to CPI's revenue and EBITDA by fiscal 2025. The transaction is anticipated to close in the first quarter of CPI's 2025 fiscal year.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 10:05 am

SASR

Sandy Spring Bancorp reported Q3 2024 earnings of $0.40 per share, missing the $0.46 estimate, and sales of $81.41M, below the $88.49M estimate. Earnings decreased by 35.48% and sales by 4.31% compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 10:02 am