Streetbeat News

Earnings

COPP

CRIT

FCX

Freeport-McMoRan (NYSE:FCX) reported strong Q2 FY24 earnings, beating revenue and EPS estimates despite shipping delays in Indonesia. Copper and gold sales were down year-over-year, but the company remains optimistic about future production and pricing. Investors can also gain exposure through Sprott Copper Miners ETF (NASDAQ:COPP) and Exchange Traded Concepts Trust Optica Rare Earths & Critical Materials ETF (NYSE:CRIT).

Portfolio Pulse from Lekha Gupta

July 23, 2024 | 4:24 pm

GOOG

Alphabet Inc (NASDAQ:GOOG) is set to report its second-quarter financial results after the market close on Tuesday. Analysts expect earnings of $1.85 per share and revenue of $84.21 billion. The company has consistently beaten analyst estimates for the past five quarters. Recent analyst ratings have been positive, with several raising their price targets.

Portfolio Pulse from Adam Eckert

July 23, 2024 | 4:20 pm

MSCI

MSCI Inc (NYSE:MSCI) reported strong Q2 earnings with a 14% revenue growth, beating analyst estimates. The adjusted EPS also surpassed expectations. The stock price rose by 7.46% following the announcement. The company showed robust growth across various segments, although the operating margin slightly declined. MSCI declared a dividend of $1.60 per share for Q3 and provided a positive FY24 outlook.

Portfolio Pulse from Anusuya Lahiri

July 23, 2024 | 4:19 pm

ETH

SPOT

UPS

The market summary highlights the launch of Ether ETFs, a strong earnings report from Spotify leading to a jump in its stock price, and a weak earnings report from UPS causing a drop in its stock price.

Portfolio Pulse from Benzinga Newsdesk

July 23, 2024 | 4:14 pm

ADIL

AZTR

CLRB

FEIM

JAGX

RNAZ

U.S. stocks traded higher with the Nasdaq Composite gaining over 100 points. GE Aerospace reported better-than-expected Q2 earnings and raised its FY24 outlook. Azitra, Adial Pharmaceuticals, and Frequency Electronics saw significant stock price increases, while Jaguar Health, TransCode Therapeutics, and Cellectar Biosciences experienced sharp declines.

Portfolio Pulse from Avi Kapoor

July 23, 2024 | 4:03 pm

LVMHF

LVMH reported Q2 organic sales growth of 1%, falling short of the estimated 1.95%.

Portfolio Pulse from Benzinga Newsdesk

July 23, 2024 | 4:02 pm

LVMHF

LVMH reported Q2 revenue of EUR20.98 billion, missing the estimated EUR21.41 billion.

Portfolio Pulse from Benzinga Newsdesk

July 23, 2024 | 4:02 pm

CGNX

Analysts have mixed ratings for Cognex (NASDAQ:CGNX) with a recent increase in the average 12-month price target to $49.78. Key analysts have updated their ratings and price targets, reflecting a generally positive outlook. Cognex's financial performance is strong, with notable revenue growth, net margin, ROE, and ROA.

Portfolio Pulse from Benzinga Insights

July 23, 2024 | 4:02 pm

NFE

New Fortress Energy (NASDAQ:NFE) has received mixed ratings from 4 analysts over the past three months, with a recent trend towards lower price targets. The average 12-month price target has dropped by 11.03% to $32.25. Analysts from Deutsche Bank, Stifel, and Barclays have all lowered their price targets, reflecting cautious sentiment. Despite positive revenue growth, NFE faces challenges with profitability, return on equity, and high debt levels.

Portfolio Pulse from Benzinga Insights

July 23, 2024 | 4:00 pm

Verizon Communications Inc. (NYSE:VZ) shares fell over 6% following its Q2 results. Analysts from RBC Capital Markets and KeyBanc Capital Markets provided mixed reviews, with RBC maintaining a Sector Perform rating and KeyBanc maintaining an Overweight rating. Verizon's revenues and EBITDA were in line with expectations, while free cash flow exceeded consensus. The company's retail postpaid net adds declined slightly, but broadband growth remained strong.

Portfolio Pulse from Priya Nigam

July 23, 2024 | 3:55 pm