Streetbeat News

Earnings

BAC

IWM

JPM

KRE

SCHW

WFC

The Russell 2000 Index is nearing a technical breakout, potentially outperforming the S&P 500. Strong economic data and lower interest rates are boosting small-cap stocks, with the banking sector playing a key role. Major banks reported strong earnings, positively impacting regional banks within the Russell 2000.

Portfolio Pulse from Piero Cingari

October 16, 2024 | 5:53 pm

ASML

IWM

KRE

UAL

Small-cap stocks outperformed large caps, driven by expectations of interest rate cuts and a rally in regional banks. Morgan Stanley's strong earnings boosted its stock, while regional banks and airlines also saw significant gains. The tech sector lagged due to ASML's earnings shock. Major indices showed mixed performance.

Portfolio Pulse from Piero Cingari

October 16, 2024 | 5:44 pm

BAC

JPM

WFC

Citigroup reported a 1% revenue growth in Q3, beating estimates, but net income fell by 9%. Analysts have mixed views on Citigroup's future, with some raising price targets and others lowering them. The bank's stock rose 2.35% after the earnings report.

Portfolio Pulse from Anusuya Lahiri

October 16, 2024 | 5:35 pm

BlackBerry Limited shares are rising after the company announced profitability details for its IoT and Cybersecurity divisions, and strategic options for its Cylance business. BlackBerry projects FY25 cyber revenues between $350 million and $365 million, and expects to return to positive cash flow in the fourth quarter. The company has also achieved $100 million in cost reductions in the Cyber division over the last year.

Portfolio Pulse from Nabaparna Bhattacharya

October 16, 2024 | 5:35 pm

Goldman Sachs reported strong Q3 earnings, driven by investment banking and trading revenues, leading to positive analyst reactions and increased price targets.

Portfolio Pulse from Priya Nigam

October 16, 2024 | 5:24 pm

MSTR

MicroStrategy shares are trading higher as Bitcoin surpasses $68,000. The company, holding 252,220 Bitcoin, is influenced by Bitcoin's price changes. Bitcoin ETFs also saw significant inflows. MicroStrategy will release Q3 earnings on Oct. 30, with analysts expecting a revenue of $122.66 million and a loss of 11 cents per share.

Portfolio Pulse from Dylan Berman

October 16, 2024 | 5:08 pm

SMCI

Super Micro Computer Inc. (NASDAQ:SMCI) has showcased its extensive AI infrastructure capabilities, but its stock has stagnated recently despite significant gains earlier in the year. The stock's mixed signals, with some bullish indicators but overall bearish sentiment, raise questions as the company approaches its earnings report on October 30.

Portfolio Pulse from Surbhi Jain

October 16, 2024 | 4:56 pm

AMD

ASML

INTC

NVDA

ASML Holding's stock continues to decline after the company cut its full-year sales outlook due to weak demand for chips outside of AI. Despite beating Q3 sales estimates, ASML lowered its sales guidance, impacting its stock negatively. Other chipmakers like NVIDIA, AMD, Intel, and Micron experienced mixed reactions, with NVIDIA and Micron rebounding slightly.

Portfolio Pulse from Adam Eckert

October 16, 2024 | 4:53 pm

Blackstone's BREIT struggles to meet performance fee thresholds, impacting its earnings outlook. BREIT's modest gains in September were insufficient to trigger third-quarter performance fees, leading JPMorgan to lower its revenue projections for Blackstone's real estate segment. The fund faces significant challenges in achieving the necessary performance for future quarters.

Portfolio Pulse from Henry Khederian

October 16, 2024 | 4:51 pm

FHN

First Horizon shares rose following the announcement of better-than-expected Q3 adjusted EPS results.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2024 | 4:36 pm