Streetbeat News

Earnings

LYFT

UBER

Lyft reported strong Q2 earnings with a 10% increase in active riders and a 17% surge in gross bookings. The company introduced a price lock feature and expects positive free cash flow for the full year. Despite the positive results, Lyft shares are down 17.90% premarket.

Portfolio Pulse from Anusuya Lahiri

August 07, 2024 | 1:32 pm

LUMN

Lumen Technologies Inc (NYSE:LUMN) shares surged after reporting better-than-expected Q2 revenue and securing $5 billion in new business. Despite an adjusted loss per share, multiple analysts upgraded the stock, contributing to a 93% rise in stock price.

Portfolio Pulse from Adam Eckert

August 07, 2024 | 1:30 pm

RUN

TSLA

Sunrun Inc (NASDAQ:RUN) shares surged after reporting better-than-expected Q2 financial results and announcing a partnership with Tesla Inc (NASDAQ:TSLA) to support Texas’s power grid. Sunrun's Q2 revenue was $523.866 million, and EPS was 55 cents. The company added 26,687 customers and installed 264.5 megawatt hours of storage capacity. Analysts raised their price targets for Sunrun.

Portfolio Pulse from Adam Eckert

August 07, 2024 | 1:29 pm

RIVN

Rivian Automotive Inc (NASDAQ:RIVN) shares are trading lower after the company reported second-quarter financial results. Rivian's revenue beat estimates, but its quarterly loss was larger than expected. The company produced 9,612 vehicles and delivered 13,790 vehicles in Q2. Rivian is progressing on integrating its technology with Volkswagen products and expects to close the joint venture in Q4. Despite reaffirming its annual guidance, Rivian's stock fell 8.78% following the results.

Portfolio Pulse from Adam Eckert

August 07, 2024 | 1:26 pm

LLY

Eli Lilly and Company (NYSE:LLY) is set to release its Q2 earnings on August 8, with analysts expecting an increase in both earnings per share and revenue compared to the previous year. The company currently offers a dividend yield of 0.66%, translating to a quarterly dividend of $1.30 per share. Investors would need to own approximately $915,330 worth of Eli Lilly stock to generate a monthly dividend income of $500. The article also discusses how dividend yields can fluctuate based on stock price and dividend payment changes.

Portfolio Pulse from Avi Kapoor

August 07, 2024 | 1:26 pm

GAST

MAKX

ROK

Rockwell Automation (NYSE:ROK) reported disappointing Q3 sales, leading to a downward revision of its FY24 outlook. Sales fell 8.4% to $2.05 billion, missing estimates. Adjusted EPS beat expectations at $2.71. The company cited project delays and economic uncertainty as key issues. Investors can gain exposure via Gabelli Automation ETF (NYSE:GAST) and ProShares S&P Kensho Smart Factories ETF (NYSE:MAKX).

Portfolio Pulse from Lekha Gupta

August 07, 2024 | 1:26 pm

LPX

Louisiana-Pacific Corp (NYSE:LPX) reported a strong Q2 2024 with net sales growth of 33.2% YoY to $814 million, beating expectations. Siding and OSB revenues saw significant increases, leading to a gross profit rise of 121% YoY. Adjusted EPS was $2.09, surpassing the consensus of $1.93. The company also raised its 2024 outlook for Siding net sales growth. Despite the positive results, LPX shares are trading lower by 2.1% in premarket.

Portfolio Pulse from Akanksha Bakshi

August 07, 2024 | 1:20 pm

H

Hyatt Hotels Corporation (NYSE:H) reported mixed Q2 2024 results, missing sales estimates but beating EPS expectations. Analysts have lowered their price targets following the earnings announcement.

Portfolio Pulse from Avi Kapoor

August 07, 2024 | 1:17 pm

BL

BlackLine has revised its Q3 adjusted EPS guidance to $0.49-$0.52, below the estimated $0.55. However, the company expects revenue to be between $162M-$164M, which is above the estimated $158.205M.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2024 | 1:17 pm

SHOP

Shopify Inc (NYSE:SHOP) reported strong Q2 2024 earnings, with revenue and EPS beating analyst estimates. Revenue grew 21% YoY to $2.05 billion, and adjusted EPS was $0.26. Gross merchandise volume increased 22% YoY to $67.2 billion. The company provided a strong Q3 outlook, expecting revenue growth in the low-to-mid-twenties percentage rate YoY.

Portfolio Pulse from Anusuya Lahiri

August 07, 2024 | 1:14 pm