Streetbeat News

Earnings

DFS

NNI

SOFI

SoFi Technologies (NASDAQ:SOFI) shares are trading flat but have risen over 20% in the past month due to optimism about potential rate cuts. The Biden Administration announced $1.2 billion in student loan forgiveness for public service workers. Discover Financial Services (NYSE:DFS) is selling its $10.1 billion private student loan portfolio to Firstmark Services, a division of Nelnet, Inc. (NYSE:NNI). SoFi's student loan segment grew 43% year-over-year and accounts for 17.21% of its loan origination volume. SoFi will report Q2 results on July 30, with analysts expecting earnings of 1 cent per share and revenue of $563.908 million.

Portfolio Pulse from Erica Kollmann

July 18, 2024 | 5:55 pm

ARM

AVGO

NVDA

SOXX

Semiconductor stocks, tracked by the IShares Semiconductor ETF (NASDAQ:SOXX), experienced a significant selloff this week, driven by geopolitical concerns and comments from U.S. leaders. Bank of America (BofA) suggests that this sector historically outperforms following such selloffs, with potential gains of 19% in three months and 28% in six months. BofA recommends focusing on fundamentals and highlights Nvidia (NASDAQ:NVDA), Broadcom (NASDAQ:AVGO), Arm Holdings (NASDAQ:ARM), ON Semiconductor (NASDAQ:ON), and Micron Technology (NASDAQ:MU) as attractive investments.

Portfolio Pulse from Adam Eckert

July 18, 2024 | 5:48 pm

CRBP

ROOT

WGS

GeneDx Holdings Corp. (NASDAQ:WGS) has led the Russell 2000 Index in 2024 with a 1,101% increase in share price, driven by a shift to more comprehensive genetic testing. Goldman Sachs has raised its price target for GeneDx from $12.50 to $28, maintaining a Neutral rating. Other top performers include Corbus Holdings Inc. (NASDAQ:CRBP) and Root, Inc. (NASDAQ:ROOT).

Portfolio Pulse from Michael Juliano

July 18, 2024 | 5:36 pm

IAI

KBWB

Goldman Sachs and Betterment have launched the Goldman Sachs Tax-Smart Bonds portfolio, targeting high-tax-bracket clients with a mix of U.S. Treasury bonds, corporate bonds, and municipal bond ETFs. Despite positive earnings, Goldman Sachs shares are trading lower.

Portfolio Pulse from Lekha Gupta

July 18, 2024 | 5:30 pm

ABT

Abbott Laboratories shares are trading lower following the release of their Q2 financial results.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 5:24 pm

DHI

FCTE

ITB

D.R. Horton (NYSE:DHI) reported strong Q3 FY24 earnings, beating expectations with a 2% Y/Y sales growth to $10 billion and EPS of $4.10. The company authorized a new $4 billion stock buyback program and revised its FY24 revenue outlook. DHI shares rose 6.2% following the news.

Portfolio Pulse from Lekha Gupta

July 18, 2024 | 5:23 pm

AGEN

CHUY

DPZ

LESL

ONCO

SILO

TCRT

Domino's Pizza shares fell over 11% after reporting mixed quarterly results, missing sales estimates and suspending its guidance on global net store growth. Other notable stock movements include significant gains for Onconetix, Silo Pharma, and Chuy's Holdings, and sharp declines for Agenus, Leslie's, and Alaunos Therapeutics.

Portfolio Pulse from Avi Kapoor

July 18, 2024 | 5:19 pm

GTLB

Analysts have mixed views on GitLab (NASDAQ:GTLB) with recent ratings showing a decrease in average price targets by 10.85%. The 12-month price targets range from $50.00 to $80.00. GitLab's financial health shows strong revenue growth but challenges in profitability and returns.

Portfolio Pulse from Benzinga Insights

July 18, 2024 | 5:00 pm

AAPL

Goldman Sachs analyst Michael Ng predicts Apple Inc. (NASDAQ:AAPL) will surpass Q3 earnings expectations, driven by strong performance in iPad, Mac, and Services segments. Ng forecasts an EPS of $1.36 on $85.1 billion in revenue, with significant growth in AI advancements and strategic pricing. The Services segment is expected to drive future profitability.

Portfolio Pulse from Surbhi Jain

July 18, 2024 | 4:48 pm

NFLX

Netflix Inc (NASDAQ:NFLX) shares are in focus ahead of its earnings report after the bell on Thursday. Analysts expect earnings of $4.74 per share and revenue of $9.528 billion. Last quarter, Netflix beat both revenue and EPS estimates. Analysts have recently raised their price targets for Netflix, with most maintaining a positive outlook.

Portfolio Pulse from Adam Eckert

July 18, 2024 | 4:25 pm