Streetbeat News

Earnings

CRWD

SBUX

VTI

XLY

Starbucks (SBUX) shares experienced volatility on Tuesday due to technical issues with its mobile ordering system, affecting users in multiple cities. The company is under scrutiny ahead of its fiscal third-quarter earnings report, especially after a recent activist investor stake. Starbucks has faced similar issues earlier this month and has been offering more discounts to boost demand. The stock has lost about 26% in the last 12 months.

Portfolio Pulse from Shivani Kumaresan

July 30, 2024 | 5:59 pm

AMKR

LSCC

Shares of semiconductor and hardware stocks are trading lower as the sector pulls back following this year's strength. The sector may also be under pressure amid weakness in Amkor and Lattice, which fell on soft guidance.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 5:55 pm

IMNN

JBLU

MRK

QXO

VBIV

Merck & Co., Inc. (NYSE:MRK) shares fell 10% after the company reported second-quarter financial results and cut its FY24 adjusted EPS guidance below estimates. Despite beating revenue and EPS estimates, the guidance cut led to a sharp decline. Other stocks such as Imunon, Inc. (NASDAQ:IMNN) and JetBlue Airways Corporation (NASDAQ:JBLU) saw significant gains due to positive news, while QXO, Inc. (NASDAQ:QXO) and VBI Vaccines Inc. (NASDAQ:VBIV) experienced substantial losses.

Portfolio Pulse from Avi Kapoor

July 30, 2024 | 5:53 pm

LDOS

Leidos Holdings, Inc (NYSE:LDOS) reported strong Q2 fiscal 2024 results with an 8% revenue increase to $4.13 billion, beating analyst estimates. Adjusted EPS rose 46% to $2.63, also surpassing expectations. The company raised its annual revenue and EPS outlook. Despite these positive results, LDOS shares are trading 3.29% lower.

Portfolio Pulse from Anusuya Lahiri

July 30, 2024 | 5:49 pm

AMC

DIS

IMAX

AMC Entertainment Holdings Inc (NYSE:AMC) has seen strong momentum following Imax Corp's (NYSE:IMAX) strong Q2 earnings. AMC expects Q2 revenue of $1.03 billion and a loss of 10 cents per share, better than estimates. AMC also set new records for weekend attendance and admissions revenue, driven by the opening of Walt Disney Co's (NYSE:DIS) 'Deadpool & Wolverine'.

Portfolio Pulse from Adam Eckert

July 30, 2024 | 5:49 pm

MARA

Marathon Digital Holdings, Inc. (NASDAQ:MARA) shares are trading lower ahead of its quarterly earnings release on Thursday. Analysts estimate a loss of 14 cents per share and revenue of $157.84 million for the 2024 fiscal year second quarter. The stock initially traded higher on Monday but reversed after comments from former President Donald Trump regarding a national crypto stockpile. Marathon recently announced a $100 million Bitcoin purchase and a full HODL strategy.

Portfolio Pulse from Dylan Berman

July 30, 2024 | 5:47 pm

WWD

Woodward, Inc. (NASDAQ: WWD) reported mixed Q3 results, beating earnings estimates but missing on sales. The company lowered its FY24 revenue guidance, leading to a significant drop in its stock price. Analysts from TD Cowen and Deutsche Bank maintained their Buy ratings but reduced their price targets.

Portfolio Pulse from Avi Kapoor

July 30, 2024 | 5:45 pm

SMRT

SmartRent, Inc. (NYSE:SMRT) shares are down 17.9% after the CEO resigned and the company suspended its 2024 fiscal year outlook. The company also released preliminary Q2 earnings, expecting a 9% YoY revenue decrease and a net loss of $4.6 million.

Portfolio Pulse from Dylan Berman

July 30, 2024 | 5:44 pm

AAPL

CRWD

GOOGL

IWM

META

MSFT

NVDA

SOXX

Tech stocks experienced a significant drop ahead of key earnings reports and the Federal Open Market Committee meeting. Nvidia fell over 6%, impacting the semiconductor sector and the iShares Semiconductor ETF. CrowdStrike hit an 8-month low after Delta Air Lines sought compensation for an outage. Microsoft, Apple, Alphabet, and Meta also saw declines. The Nasdaq 100 dropped 1.5%, while the S&P 500 fell 0.8%. The iShares Russell 2000 ETF outperformed tech stocks. Treasury yields remained steady, and gold edged up.

Portfolio Pulse from Piero Cingari

July 30, 2024 | 5:43 pm

IPGP

IPG Photonics Corporation (NASDAQ:IPGP) reported weak second-quarter results, missing both earnings and revenue estimates. The company experienced significant sales declines across all major regions and a notable drop in gross margin. IPGP's outlook for the third quarter is also below expectations, leading to a 5.88% drop in share price.

Portfolio Pulse from Nabaparna Bhattacharya

July 30, 2024 | 5:42 pm