Streetbeat News

Earnings

FCG

FTXN

NETZ

OILT

OXY

RSPG

Occidental Petroleum (NYSE: OXY) exceeded Q2 earnings expectations but received a neutral outlook from analysts due to concerns over its balance sheet, slowing chemicals business, and asset sales strategy. Despite the earnings beat, analysts expect a neutral impact on the stock's near-term performance. ETFs tracking the stock also saw gains.

Portfolio Pulse from Michael Juliano

August 08, 2024 | 4:23 pm

KRMD

KORU Medical Systems shares are trading higher after the company reported better-than-expected Q2 financial results and raised its FY24 revenue guidance above estimates. Piper Sandler maintained an Overweight rating on the stock and raised its price target from $2.5 to $3.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 4:22 pm

RIVN

Rivian Automotive Inc (NASDAQ:RIVN) shares rose by 9.97% to $15.16 following the release of its second-quarter financial results. The company reported $1.16 billion in revenue, slightly above the consensus estimate of $1.13 billion, but posted a larger-than-expected loss per share of $1.46. Rivian produced 9,612 vehicles and delivered 13,790 in the quarter, and ended with $7.9 billion in cash and cash equivalents. Analysts revised their ratings post-earnings.

Portfolio Pulse from Henry Khederian

August 08, 2024 | 4:21 pm

MATV

Mativ shares are trading higher after the company reported better-than-expected Q2 adjusted EPS results.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 4:20 pm

RDW

Redwire shares are trading lower following the company's Q2 financial results.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 4:19 pm

ARL

American Realty Investors (NYSE:ARL) reported a 36.36% decrease in Q2 EPS to $0.07 from $0.11 YoY, and a 3.81% decrease in sales to $11.77M from $12.24M YoY.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 4:16 pm

TCI

Transcontinental Realty (NYSE:TCI) reported Q2 earnings per share (EPS) of $0.17, a 183.33% increase from $0.06 YoY. However, sales decreased by 3.81% to $11.77 million from $12.24 million YoY.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 4:14 pm

CRNC

Cerence shares are trading higher after the company reported better-than-expected Q3 financial results.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 4:12 pm

LNG

LNGG

LNGZ

Cheniere Energy (NYSE:LNG) reported mixed Q2 FY24 results with a 21% Y/Y revenue decline to $3.251 billion, missing consensus estimates. Adjusted EBITDA fell 29% Y/Y to $1.32 billion due to lower gas prices and higher long-term contract sales. Despite this, EPS of $3.84 exceeded expectations. The company raised its FY24 adjusted EBITDA and Distributable Cash Flow outlooks and announced a 15% increase in its quarterly dividend starting Q3 2024. Cheniere also signed a long-term LNG sale agreement with Galp Trading. Investors can gain exposure via LNG, LNGG, and LNGZ ETFs.

Portfolio Pulse from Lekha Gupta

August 08, 2024 | 4:08 pm

BMBL

Bumble Inc (NASDAQ:BMBL) shares plummeted by 32.01% following mixed Q2 results and a significant downgrade in its 2024 outlook. Analysts from JPMorgan, Piper Sandler, and RBC Capital Markets have downgraded their ratings and slashed price targets, citing a strategic reset and misexecution in user growth and monetization efforts.

Portfolio Pulse from Adam Eckert

August 08, 2024 | 4:08 pm