Streetbeat News

Earnings

META

Meta Platforms Inc's stock is trading lower despite reporting a 23% YoY increase in Q3 revenue to $34.15 billion and earnings of $4.39 per share, up 168% YoY. The company expects Q4 revenue to be between $36.5 billion and $40 billion. However, CFO Susan Li's cautious commentary about volatile ad spending due to the Middle East conflict has led to a drop in share price. Analysts from Keybanc, Rosenblatt, and Barclays have updated their price targets for Meta.

Portfolio Pulse from Adam Eckert

October 26, 2023 | 1:02 pm

CWT

California Water Servs Gr (NYSE:CWT) reported Q3 earnings of $0.60 per share, missing the analyst consensus estimate of $0.73 by 17.81%. This is a 41.75% decrease from the same period last year. However, the company reported quarterly sales of $254.98 million, beating the analyst consensus estimate of $245.70 million by 3.78%, but still a 4.25% decrease from last year.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 1:01 pm

MSFT

Microsoft Corporation (NASDAQ:MSFT) reported stronger-than-expected fiscal first-quarter results with a 13% YoY revenue increase to $56.5 billion, beating the consensus estimate of $51.4 billion. The company's quarterly earnings were $2.99 per share, exceeding expectations of $2.50 per share. Microsoft offers an annual dividend yield of 0.88%, which equates to a quarterly dividend of 75 cents per share. To earn $500 per month from dividends, an investment of approximately $681,340 or around 2,000 shares is needed.

Portfolio Pulse from Lisa Levin

October 26, 2023 | 1:01 pm

META

Meta Platforms Inc., formerly known as Facebook, reported its Q3 financial results and issued guidance, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 1:01 pm

NOW

ServiceNow reported better-than-expected Q3 financial results and issued guidance, leading to a rise in its share price.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 12:59 pm

CLF

X

US Steel (NYSE:X) is set to report its Q3 earnings on Oct. 26. The company is considering strategic options, including a $7.1 billion acquisition offer from Cleveland-Cliffs (NYSE:CLF). US Steel is undergoing a transformation, investing in mini mills and EAFs, which are expected to benefit from the Inflation Reduction Act. The company's stock is trading at attractive valuations among competitors such as Nucor (NYSE:NUE), Reliance Steel & Aluminum (NYSE:RS), Ternium (NYSE:TX), Carpenter Tech (NYSE:CRS), Vale (NYSE:VALE) and Ramaco Resources (NASDAQ:METCB). Wall Street analysts expect US Steel to report $1.15 in EPS for the quarter and $4.39 billion in revenue.

Portfolio Pulse from Surbhi Jain

October 26, 2023 | 12:58 pm

MBLY

Mobileye Global Inc (NASDAQ:MBLY) reported a Q3 FY23 revenue growth of 18% YoY to $530 million, beating the consensus of $527.8 million. Adjusted EPS of $0.22 also beat the consensus of $0.17. The company's CEO attributed the results to the operating leverage and positive feedback to the SuperVision navigate on pilot software roll-out. Mobileye expects FY23 revenue of $2.065 billion - $2.090 billion. MBLY shares traded higher by 3.03% premarket.

Portfolio Pulse from Anusuya Lahiri

October 26, 2023 | 12:55 pm

ASX

TSM

ASE Technology Holding Co, Ltd (ASX) reported a Q3 net revenue decline of 18% YoY to $4.87 billion, missing the consensus of $5.12 billion. However, the revenue grew by 13% QoQ. The company's gross margin increased by 20 bps QoQ to 16.2%, and the operating margin grew by 50 bps QoQ to 7.4%. ASX shares traded higher by 3.49% in premarket.

Portfolio Pulse from Anusuya Lahiri

October 26, 2023 | 12:49 pm

GPCR

HSTM

ICPT

NXGN

OLK

The article lists five overbought health care stocks, indicating they may be overvalued: Structure Therapeutics Inc. (GPCR), Olink Holding AB (OLK), Intercept Pharmaceuticals, Inc. (ICPT), NextGen Healthcare, Inc. (NXGN), and HealthStream, Inc. (HSTM). Overbought status is determined by the Relative Strength Index (RSI), with values above 70 indicating overbought conditions. The companies have recent news such as acquisition deals, private placements, and earnings reports.

Portfolio Pulse from Lisa Levin

October 26, 2023 | 12:49 pm

ABVC

ALT

MAT

ABVC BioPharma has entered into a term sheet to license global rights of CNS drugs to AiBtl BioPharma at a valuation of $667 million. Mattel shares are trading lower following the company's Q3 financial results. Altimmune has been granted Fast Track Designation by the FDA for Pemvidutide for the treatment of Non-Alcoholic Steatohepatitis (NASH).

Portfolio Pulse from ryanfaloona@benzinga.com

October 26, 2023 | 12:46 pm