Streetbeat News

Earnings

CHKP

Check Point Software reported Q3 earnings of $2.07 per share, beating the analyst consensus estimate of $2.02 by 2.48%. This is a 16.95% increase from the same period last year. The company also reported quarterly sales of $596.30 million, beating the analyst consensus estimate of $591.51 million by 0.81%. This is a 3.24% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 10:02 am

Toyota Motor Corporation (NYSE:TM) reported that its global production remained flat in September at 1.037 million vehicles, including subsidiaries Daihatsu Motor Co and Hino Motors Ltd. However, worldwide sales, including subsidiaries, grew 10.5% to 1.003 million units. Year-to-date, total sales increased 6.5% to 8.27 million vehicles, and production rose 8.2% to 8.51 million units. The company attributed the growth in sales and production in the first half of FY24 to the easing impact of semiconductor shortages.

Portfolio Pulse from Shivani Kumaresan

October 30, 2023 | 9:56 am

AAPL

KeyBanc Capital Markets analyst Brandon Nispel maintains a Sector Weight rating for Apple Inc. (NASDAQ:AAPL), predicting the company's declining revenue trend to continue into the holiday quarter of fiscal year 2024. Nispel cites lower upgrade rates and postpaid phone gross additions, competitive pressure in China, a stronger dollar, and the need for increased capital expenditure in AI as reasons for his outlook. He expects a 5% YoY decline in hardware revenue in the holiday quarter.

Portfolio Pulse from Shanthi Rexaline

October 30, 2023 | 9:44 am

TOYOF

Toyota Motor Corporation (OTC:TOYOF) has reported a significant increase in its global sales and production for the first half of FY2024, attributing this rise to the easing of semiconductor shortages. The company recorded worldwide sales of 5,596,183 vehicles and production of 5,738,126 vehicles from April to September 2023. The results also include those for subsidiaries Daihatsu Motor Co., Ltd. and Hino Motors, Ltd.

Portfolio Pulse from Benzinga Neuro

October 30, 2023 | 7:57 am

AAPL

AMD

AMZN

CVX

GOOGL

META

MSFT

QCOM

SPY

XOM

The third-quarter earnings season has been mixed, with some high-profile companies like Meta Platforms and Alphabet disappointing investors, while others like Microsoft and Amazon have calmed nerves with positive results. Energy giants Exxon Mobil and Chevron reported below-consensus earnings, dragging down the profit growth of S&P 500 companies. This week, tech companies like Apple, AMD, and Qualcomm are set to release their earnings, which could influence the near-term trajectory of the equity market. The market is also awaiting the Fed decision due Wednesday.

Portfolio Pulse from Shanthi Rexaline

October 30, 2023 | 7:40 am

HSBC

IFF

MCD

PINS

McDonald's, HSBC Holdings, Pinterest, International Flavors & Fragrances, and ON Semiconductor are the stocks to watch heading into Monday. McDonald's is expected to report quarterly earnings of $3.00 per share on revenue of $6.58 billion. HSBC reported a 240% surge in pre-tax profit for Q3 and announced a $3 billion share buyback program. Pinterest is expected to earn 20 cents per share on revenue of $743.50 million. Clariant has agreed to buy the cosmetic ingredients unit of IFF for $810 million. ON Semiconductor is expected to report quarterly earnings of $1.34 per share on revenue of $2.15 billion.

Portfolio Pulse from Lisa Levin

October 30, 2023 | 7:31 am

AMZN

CVX

MCD

PINS

XOM

The CNN Money Fear and Greed index has moved to the 'Extreme Fear' zone, indicating growing fear among US investors. U.S. stocks mostly closed lower on Friday, with Amazon.com, Inc (NASDAQ:AMZN) being an exception due to stronger-than-expected Q3 results. Chevron Corporation (NYSE:CVX) and Exxon Mobil Corporation (NYSE:XOM) shares fell after reporting Q3 results. Investors are awaiting earnings results from ON Semiconductor Corporation (NASDAQ:ON), Pinterest, Inc. (NYSE:PINS) and McDonald's Corporation (NYSE:MCD).

Portfolio Pulse from Lisa Levin

October 30, 2023 | 7:24 am

WDC

Western Digital Corporation (NASDAQ:WDC) is expected to report a Q1 loss of $1.91 per share, compared to earnings of 20 cents per share in the same period last year. The company's revenue is projected to be $2.65 billion, down from $3.59 billion a year ago. Western Digital recently ended merger talks with Kioxia due to lack of approval from some Kioxia shareholders. The company's shares closed at $38.97 on Friday, up 1.9%. Several analysts have provided their ratings and price targets for the company.

Portfolio Pulse from Lisa Levin

October 30, 2023 | 6:54 am

HSBC

HSBC has announced that it expects its net interest income in FY23 to be above $35 billion. The bank has been managing its exposure to the changing interest rate environment, incurring disposal losses of $0.6 billion in 3Q23 due to repositioning and risk management activities. These actions are expected to continue into 4Q23, with further losses of approximately $0.4 billion. However, these losses are already recognized in equity and do not materially impact HSBC's CET1 capital.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 5:26 am

HSBC

HSBC Holdings reported Q3 earnings of $1.45 per share, a 190% increase from $0.50 per share YoY. The company also reported $16.16 billion in sales, a 39.12% increase from $11.62 billion YoY.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 5:18 am