Streetbeat News

Earnings

HUT

WULF

TeraWulf Inc. (NASDAQ:WULF) and Hut 8 Corp. (NASDAQ:HUT) have shown impressive YTD returns of over 40% in the small-cap crypto mining sector. TeraWulf's stock is up 128% YTD, driven by debt elimination and sustainable energy initiatives. Hut 8 has gained 40% YTD, bolstered by strategic energy partnerships.

Portfolio Pulse from Surbhi Jain

July 18, 2024 | 7:06 pm

VFC

21 analysts have shared their evaluations of VF Corporation (NYSE:VFC) over the past three months, showing a mix of bullish and bearish perspectives. The average 12-month price target has decreased by 11.49% to $13.17. Analysts have adjusted their ratings and price targets, reflecting recent market conditions and company performance. VF has faced a decline in revenue growth, net margin, ROE, and ROA, and has a high debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

July 18, 2024 | 7:00 pm

JNJ

LLY

PFE

REGN

Johnson & Johnson (JNJ) reported a strong Q2 with an adjusted EPS of $2.82, beating expectations. The company maintains a consistent M&A strategy, focusing on sustainable growth. RBC Capital Markets and Truist Securities provided positive outlooks, with RBC maintaining an Outperform rating and a $175 price target. Competitive pressures and product demand dynamics were noted for JNJ, Eli Lilly (LLY), Pfizer (PFE), and Regeneron (REGN).

Portfolio Pulse from Vandana Singh

July 18, 2024 | 6:51 pm

ABT

Abbott Laboratories (NYSE: ABT) shares are trading lower despite reporting better-than-expected Q2 2024 financial results. The decline is attributed to a significant drop in COVID-19 testing-related sales, which overshadowed strong growth in other sectors.

Portfolio Pulse from Vaishali Prayag

July 18, 2024 | 6:51 pm

CNC

ELV

MOH

UNH

BofA downgraded Elevance Health (ELV) due to Medicaid pressure and lower peer valuations. ELV's Q2 revenue was $43.2 billion, slightly above consensus but down 0.4% YoY. Medicaid attrition and higher premium yields were noted. BofA lowered ELV's price target from $646 to $530 and downgraded it to Neutral. Other analysts had mixed reactions.

Portfolio Pulse from Vandana Singh

July 18, 2024 | 6:50 pm

JPM

WFC

WTFC

Shares of bank stocks are trading lower, possibly under pressure following recent earnings in the sector.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 6:34 pm

ABT

AGEN

CHUY

COMM

CURV

LESL

SILO

U.S. stocks traded lower with the Nasdaq Composite falling over 100 points. Abbott Laboratories reported better-than-expected earnings, while several other companies saw significant stock movements due to various announcements.

Portfolio Pulse from Avi Kapoor

July 18, 2024 | 6:31 pm

AVGO

DIA

IWM

NVDA

QQQ

SPY

Market strategist Jay Woods suggests that the rotation into small-cap stocks is just beginning, with the Russell 2000 index showing significant recent gains. The iShares Russell 2000 ETF (IWM) has outperformed other major ETFs like SPY, QQQ, and DIA. Woods believes small caps have more room to run, especially as the Fed is done raising rates. However, he cautions that small caps might take a breather after the first expected Fed rate cut. Money is moving from sectors like technology to underperforming sectors like financials and real estate.

Portfolio Pulse from Chris Katje

July 18, 2024 | 6:31 pm

DIA

LLY

NVDA

NVO

QQQ

SOXX

SPY

XLE

XLV

The market experienced a risk-off day with major indices trading in the red. The VIX spiked over 10%, and semiconductor stocks remained weak due to concerns over U.S. chip export restrictions to China. Eli Lilly and Novo Nordisk faced significant declines due to competitive threats from Pfizer and Roche. Economic data showed rising jobless claims, and the U.S. dollar rose as a safe haven.

Portfolio Pulse from Piero Cingari

July 18, 2024 | 6:05 pm

AAL

UAL

United Airlines (NASDAQ:UAL) shares are trading higher following its Q2 earnings report, which showed an adjusted EPS of $4.14, beating estimates of $3.95. However, sales missed expectations at $14.98 billion versus $15.09 billion. The company issued guidance for FY 2024 with an adjusted EPS range of $9 to $11, expecting to be at the lower end. American Airlines (NASDAQ:AAL) shares are also trading lower in sympathy.

Portfolio Pulse from Dylan Berman

July 18, 2024 | 6:00 pm