Streetbeat News

Earnings

ADI

MCHP

NXPI

TXN

Cantor Fitzgerald analyst C J Muse reiterated an Overweight rating for NXP Semiconductors (NASDAQ:NXPI) with a $350 price target. Despite a slight miss in Q2 EPS and lower-than-expected Q3 guidance, Muse remains optimistic about NXPI's strategic positioning and resiliency. The analyst also highlighted NXPI as the most attractive analog name compared to Texas Instruments (NASDAQ:TXN), Analog Devices (NASDAQ:ADI), and Microchip Technology (NASDAQ:MCHP).

Portfolio Pulse from Anusuya Lahiri

July 23, 2024 | 6:22 pm

CMCSA

DIS

Disney (DIS) shares are sliding, potentially in sympathy with Comcast (CMCSA), which reported declines in Studio and Theme Parks revenue. Comcast's stock fell over 4% after mixed Q2 results, with significant drops in Studios and Theme Parks revenue. Disney is set to report its Q3 results on Aug. 7, with analysts expecting earnings of $1.18 per share and revenue of $23.024 billion.

Portfolio Pulse from Adam Eckert

July 23, 2024 | 6:20 pm

CCK

Crown Holdings, Inc. (NYSE:CCK) shares surged after reporting better-than-expected Q2 adjusted EPS and raising FY24 EPS guidance. Despite a decline in net sales, the company showed strong performance in its global beverage businesses and improved cash flow. RBC Capital Markets maintains an Outperform rating with a $96 price target.

Portfolio Pulse from Lekha Gupta

July 23, 2024 | 6:18 pm

The article discusses recent options trading activity for Citigroup (NYSE:C), highlighting a bullish sentiment among major investors. The analysis reveals a focus on a price range between $40.0 and $72.5, with notable trades including both calls and puts. Analysts have mixed ratings on Citigroup, with target prices ranging from $62 to $86.

Portfolio Pulse from Benzinga Insights

July 23, 2024 | 6:16 pm

LOVFF

Cannara Biotech Inc. reported a 6% YoY drop in Q3 gross profit but a 22% revenue increase, driven by enhanced sales force and infrastructure. The company saw net revenues of CA$19.5 million and a net income of CA$2 million. Operational highlights include expansion in Manitoba and the East Coast recreational market.

Portfolio Pulse from Jelena Martinovic

July 23, 2024 | 6:06 pm

Goldman Sachs analyst Bonnie Herzog reiterated a Neutral rating on Coca-Cola (NYSE:KO) with a price target of $60. KO delivered a strong Q2 performance with an EPS beat of $0.84, driven by a 9% y/y price/mix growth and gross margin expansion. Despite inflation and cost pressures, KO raised its FY24 guidance. However, ongoing f/x headwinds and litigation with the IRS pose risks.

Portfolio Pulse from Shivani Kumaresan

July 23, 2024 | 6:03 pm

DIA

GOOG

IWM

QQQ

SPY

TSLA

UPS

XLE

XLF

On Tuesday, small-cap stocks outperformed large caps as investors awaited key earnings reports from Alphabet and Tesla. The Russell 2000 index rose 0.8%, while the Nasdaq 100 dipped 0.2%. United Parcel Service (UPS) plunged 14% after missing earnings and revenue estimates. Bitcoin dropped over 2% to $65,800.

Portfolio Pulse from Piero Cingari

July 23, 2024 | 5:53 pm

OMI

Owens & Minor Inc. (NYSE:OMI) has agreed to acquire Rotech Healthcare Holdings, Inc. for $1.36 billion in cash. The acquisition is expected to enhance Owens & Minor's Patient Direct product offerings and accelerate growth. The company also reported better-than-expected preliminary Q2 2024 financial results, with revenue of $2.65-$2.67 billion and adjusted EPS of $0.32-$0.36. OMI reaffirmed its 2024 revenue outlook of $10.5-$10.9 billion and adjusted EPS of $1.40-$1.70. OMI stock rose 7.38% to $16.44 following the news.

Portfolio Pulse from Vandana Singh

July 23, 2024 | 5:47 pm

CYH

HCA

UHS

HCA Healthcare Inc. reported strong Q2 earnings with revenues of $17.49 billion, beating expectations. The company raised its annual revenue and EPS guidance, reflecting strong demand for services. Peers Universal Health Services Inc. and Community Health Systems Inc. also saw stock price increases.

Portfolio Pulse from Vandana Singh

July 23, 2024 | 5:24 pm

ADIL

AZTR

CMCSA

Comcast Corporation (NASDAQ:CMCSA) shares fell 6.1% after reporting worse-than-expected Q2 sales results. Other notable stock movements include Azitra, Inc. (NYSE:AZTR) jumping 529% due to a new patent, and Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) rising 148% after advancing a study. General Motors Company (NYSE:GM) fell 6.1% after delaying EV projects.

Portfolio Pulse from Avi Kapoor

July 23, 2024 | 5:21 pm