Streetbeat News

Earnings

AMZN

GOOG

GOOGL

MSFT

In Q3, Amazon's AWS reported revenue of $23.06 billion, marking a 12.28% YoY gain. Microsoft's Intelligent Cloud business fetched the company $24.3 billion in revenue, a 19% YoY growth. Alphabet reported Google Cloud Platform revenue growth of 22.47% to $8.41 billion. However, Alphabet's cloud business saw a sharp pullback in shares following the release of its earnings due to softer third-quarter cloud revenue.

Portfolio Pulse from Shanthi Rexaline

October 29, 2023 | 1:53 pm

DXCM

FCNCA

VFC

Barron's has highlighted several stocks in its weekend review, including Verizon Communication Inc, DexCom, Inc, VF Corp, First Citizens Bancshares Inc, and Altria Group Inc. Verizon's stock had a strong week due to robust Q3 earnings and a higher dividend yield. DexCom's stock is rising due to strong earnings and unaffected demand for glucose monitoring devices. VF Corp is under scrutiny due to a significant stock decline. First Citizens Bancshares' stock has surged due to the successful integration of Silicon Valley Bank. Altria's stock fell due to an earnings miss and lowered guidance, leading to a high dividend yield.

Portfolio Pulse from Justin Chan

October 29, 2023 | 12:04 am

FSR

KARS

MBGAF

NKLA

TSLA

Major electric vehicle (EV) stocks declined in the week ending Oct. 27, with Tesla (TSLA) extending its lean patch. Tesla debuted on Fortune’s list of 100 fastest-growing companies in 2023 and announced modest price hikes for some Model Y variants. Ford (F) is pushing back its $12 billion EV investment due to losses and market challenges. Mercedes-Benz (MBGAF, MBGYY) reported disappointing Q3 results and lowered its full year guidance. Nikola (NKLA) was awarded $165 million plus interest in an arbitration proceeding with its founder. Fisker (FSR) announced price cuts for its top trim Extreme. The KraneShares Electric Vehicles and Future Mobility Index ETF (KARS) fell 2.64% for the week.

Portfolio Pulse from Shanthi Rexaline

October 28, 2023 | 1:55 pm

CVX

LLY

MSOS

NVO

TSLA

The past week saw significant declines in major averages due to concerns over potential Middle East conflicts and a conservative Q4 earnings forecast from U.S. companies. However, the U.S. economy showcased a strong 4.9% growth in Q3. Novo Nordisk and Eli Lilly are benefiting from the growing interest in weight loss drugs. Chevron Corp has agreed to purchase Hess Corp in a $53 billion all-stock deal. Dogecoin co-founder Billy Markus is optimistic about Bitcoin, Ethereum, and Doge. Tesla Inc reported subpar quarterly results, and the Nasdaq 100 Index faced a 2.5% drop this week. The election of Rep. Mike Johnson as House speaker may impact cannabis reforms.

Portfolio Pulse from Michael Cohen

October 28, 2023 | 12:49 pm

HTZ

Hertz Global Holdings Inc (NASDAQ:HTZ) CEO Stephen Scherr stated that the cost of collision and damage repair for electric vehicles (EVs), primarily Tesla's, has negatively impacted the company's EBITDA. The decline in the Manufacturer's Suggested Retail Price (MSRP) of EVs, driven by Tesla, has also lowered the fair market value of Hertz's EVs. Scherr added that Hertz is considering buying EVs from other manufacturers at a lower price point to reduce costs. Hertz reported an adjusted EPS of 70 cents for the last quarter, missing the consensus of $0.76.

Portfolio Pulse from Anan Ashraf

October 28, 2023 | 10:02 am

FCAP

First Cap (NASDAQ:FCAP) reported Q3 earnings of $0.94 per share, a 1.08% increase from $0.93 per share in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

October 27, 2023 | 9:31 pm

TWO

Two Harbors Inv (NYSE:TWO) is set to release its quarterly earnings report on October 30, 2023. Analysts estimate an EPS of $0.47. The company's past performance shows a mixed trend of beating and missing EPS estimates, which has led to varied stock price changes. The stock is currently trading at $10.08, down 30.13% over the last 52-week period.

Portfolio Pulse from Benzinga Insights

October 27, 2023 | 9:00 pm

DECK

Deckers Outdoor Corporation (NYSE:DECK) reported a YoY increase in Q2 earnings per share and better-than-expected sales results, leading to a surge in its stock price. The company also raised its FY 2024 earnings per share guidance and net sales outlook. BTIG analyst Janine Stichter maintained a Buy rating for DECK and raised the price target from $640 to $650.

Portfolio Pulse from Erica Kollmann

October 27, 2023 | 8:43 pm

ALGN

AMZN

DIA

GOOGL

PDD

QQQ

SPY

TLT

WHR

The stock market experienced volatility due to fears of a wider Middle East conflict and a cautious Q4 earnings outlook. The US economy exceeded expectations with a Q3 growth rate of 4.9%, driven by strong consumer spending. Bitcoin rallied as ETF approval nears. Major US companies beat Q3 earnings estimates but warned of a Q4 slowdown. Amazon emerged as the top performer among tech titans, while Alphabet had a tough week due to disappointing cloud business performance. The SPDR S&P 500 ETF Trust, Invesco QQQ Trust, and Dow Jones Industrial Average ETF fell, while the iShares 20+ Year Treasury Bond ETF rose. Chinese-based stocks PDD Holdings and JD.com were the top performers within the Nasdaq 100.

Portfolio Pulse from Piero Cingari

October 27, 2023 | 8:34 pm

TBNK

Territorial Bancorp reported Q3 earnings of $0.10 per share, missing the analyst consensus estimate of $0.14 by 28.57%. This represents a 77.27% decrease from the same period last year.

Portfolio Pulse from Happy Mohamed

October 27, 2023 | 8:33 pm