Streetbeat News

Earnings

SCHW

Charles Schwab's stock dropped after analysts downgraded their forecasts following the company's Q2 results. The shift to a less capital-intensive model adds near-term uncertainty, and the company has not provided details on the timing or financial impact of its plans. Piper Sandler downgraded the stock from Overweight to Neutral and reduced the price target from $80 to $64.

Portfolio Pulse from Priya Nigam

July 29, 2024 | 4:40 pm

GOOG

GOOGL

MSFT

Alphabet's Q2 earnings surpassed estimates due to strong Search ads and cloud growth, but YouTube ad revenue fell short. Rising AI investments are squeezing margins. Microsoft-backed OpenAI's new search engine could challenge Google's dominance, causing Alphabet shares to drop over 3%.

Portfolio Pulse from Upwallstreet

July 29, 2024 | 4:34 pm

CRWD

PANW

Jim Cramer and multiple analysts believe CrowdStrike Holdings Inc (CRWD) has found a bottom after a significant selloff due to a global IT outage. Cramer expects the stock to rise and highlighted positive analyst commentary. He also mentioned SentinelOne Inc (S) and Palo Alto Networks Inc (PANW) but does not foresee a major market share shift.

Portfolio Pulse from Adam Eckert

July 29, 2024 | 4:14 pm

ACB

Aurora Cannabis Inc. (NASDAQ:ACB) will report its Q1 2025 earnings on August 7, 2024. The company recently received two licenses in Germany for domestic cultivation under the new Medical Cannabis Act. Analyst Pablo Zuanic emphasized the need for Aurora to prove its growth strategies in a competitive market. Aurora aims for a 10% market share in the international medical marijuana market, potentially increasing its sales to CA$700 million.

Portfolio Pulse from Jelena Martinovic

July 29, 2024 | 4:04 pm

CGTX

LIPO

NLSP

VERO

VTVT

VTYX

U.S. stocks traded mostly higher on Monday, with the Nasdaq Composite gaining 0.4%. ON Semiconductor reported better-than-expected Q2 results. Shares of NLS Pharmaceutics surged 54% following a merger announcement. Lipella Pharmaceuticals and Venus Concept also saw significant gains. Meanwhile, vTv Therapeutics, Cognition Therapeutics, and Ventyx Biosciences experienced notable declines.

Portfolio Pulse from Avi Kapoor

July 29, 2024 | 4:03 pm

AMD

INTC

VGT

VTV

Rosenblatt analyst Hans Mosesmann maintained a Sell rating on Intel Corp (NASDAQ:INTC) with a price target of $17, citing competition from AMD as a key challenge. Mosesmann expects Intel to deliver inline Q2 earnings with modest growth guidance for Q3. He projects lower-than-consensus revenue and EPS for fiscal 2024 and 2025. Intel stock has lost over 13% in the last 12 months. Investors can gain exposure through Vanguard Value ETF (NYSE:VTV) and Vanguard Information Tech ETF (NYSE:VGT).

Portfolio Pulse from Anusuya Lahiri

July 29, 2024 | 4:02 pm

IBTX

Five analysts have evaluated Independent Bank Group (NASDAQ: IBTX) over the past three months, showing a mix of bullish and bearish perspectives. The average 12-month price target has increased to $55.8, reflecting a 17.72% rise from the previous target. Analysts have adjusted their ratings and price targets, with some raising their targets significantly. Despite positive revenue growth, the company faces challenges with net margin, ROE, and ROA.

Portfolio Pulse from Benzinga Insights

July 29, 2024 | 4:01 pm

BMY

Bristol-Myers Squibb (NYSE:BMY) reported strong Q2 earnings, leading to mixed analyst reactions. Barclays downgraded the stock to Underweight, citing concerns over long-term fundamentals, while Goldman Sachs reiterated a Buy rating, highlighting operational achievements and growth potential of new products.

Portfolio Pulse from Priya Nigam

July 29, 2024 | 3:59 pm

AAPL

Apple Inc. (NASDAQ:AAPL) has delayed the launch of its new AI features, Apple Intelligence, from September to October. The company aims to ensure stability and performance for these generative AI capabilities. Despite recent stock fluctuations, Apple has seen a 13% increase year-to-date. The Q3 earnings report on August 1 could significantly impact the stock price.

Portfolio Pulse from Zaheer Anwari

July 29, 2024 | 3:54 pm

AMZN

Amazon.com, Inc. (NASDAQ:AMZN) is trending as it prepares to report its 2024 fiscal year second quarter earnings on Thursday. Analysts estimate an EPS of $1.03 and revenue of $148.56 billion. Recent analyst coverage includes price target adjustments from BMO Capital and Wedbush.

Portfolio Pulse from Dylan Berman

July 29, 2024 | 3:38 pm