Streetbeat News

Earnings

LULU

Lululemon Athletica Inc. (NASDAQ:LULU) has paused sales of its Breezethrough collection due to design flaws, leading JPMorgan to lower its 2024 earnings estimates and remove the stock from its Analyst Focus List. The company's stock faces a revised price target of $338.00 for December 2025, down from $457.00. This setback is expected to impact Lululemon's revenue growth and operating margins.

Portfolio Pulse from Surbhi Jain

July 25, 2024 | 12:59 pm

AAL

American Airlines' CFO has projected the company's full-year operating margin to be between 3.5% and 5.5%, as discussed in a recent conference call.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 12:54 pm

RELX

RELX reports positive momentum across the group, expecting strong underlying growth in revenue, adjusted operating profit, and adjusted EPS on a constant currency basis.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 12:52 pm

CRM

IGV

NOW

WDAY

XDAT

ServiceNow, Inc. (NYSE:NOW) shares are rising in premarket trading after exceeding second-quarter earnings expectations. The company reported revenue of $2.627 billion, surpassing the consensus estimate of $2.607 billion. Analysts expect robust U.S. federal business and increasing AI software adoption to counterbalance economic uncertainty. ServiceNow also announced the departure of its President and COO following an investigation and the acquisition of Raytion. The company expects third-quarter subscription revenue growth of 20% to 20.5%. ServiceNow's generative AI products significantly contributed to its earnings, positioning it in direct competition with Salesforce and Workday.

Portfolio Pulse from Nabaparna Bhattacharya

July 25, 2024 | 12:52 pm

WTW

Willis Towers Watson (WTW) has raised its FY24 EPS outlook from $15.40-$17 to $16-$17, compared to the $16.27 estimate. The company also sees FY24 revenue at $9.9 billion or more, versus the $9.96 billion estimate. Adjusted operating margin is now expected to be between 23.0%-23.5%, up from the previous 22.5%-23.5%. The transformation program's annual cost savings are projected to be around $450 million, up from $425 million, with costs to achieve these savings rising to $1.175 billion from $1.125 billion.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 12:50 pm

LMT

TEL

XLU

Lockheed Martin (LMT) reported strong Q2 2024 earnings, beating both EPS and revenue expectations. TE Connectivity (TEL) posted mixed Q3 results, with EPS beating but sales missing estimates. The Utilities Select Sector SPDR Fund (XLU) was also highlighted as a final trade on CNBC's 'Halftime Report Final Trades.'

Portfolio Pulse from Avi Kapoor

July 25, 2024 | 12:48 pm

LADR

Ladder Capital (LADR) reported Q2 2024 adjusted EPS of $0.31, beating the estimate of $0.30. However, sales were $76.725 million, missing the estimate of $86.804 million.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 12:48 pm

META

Meta Platforms Inc (NASDAQ:META) has launched Llama 3.1, a significant open-source AI model, marking a major milestone in its AI ambitions. JPMorgan analyst Doug Anmuth highlights Meta's AI advancements and predicts it could become the most-used AI assistant by year-end. Meta's open-source strategy aims to democratize AI access and challenge industry giants. The company is also planning future iterations up to Llama 7, with potential capex guidance for 2024-2025 reaching $50 billion. Anmuth rates Meta as 'Overweight' ahead of its earnings next week.

Portfolio Pulse from Surbhi Jain

July 25, 2024 | 12:44 pm

LUV

Southwest Airlines (NYSE:LUV) reported a mixed Q2 2024 earnings with a 4.5% revenue increase but a significant drop in adjusted EPS and operating income. CEO Bob Jordan announced transformational changes to address internal and external challenges. The stock is trading lower by 4.59% premarket.

Portfolio Pulse from Akanksha Bakshi

July 25, 2024 | 12:43 pm

KRNY

Kearny Financial (NASDAQ:KRNY) reported Q4 earnings of $0.09 per share, meeting analyst expectations but representing a 52.63% decrease from the previous year. Quarterly sales were $32.28 million, missing the $33.51 million estimate and showing a 19.67% decline from last year.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 12:42 pm