Streetbeat News

Earnings

CAT

KMTUY

Caterpillar (NYSE:CAT) is set to report its Q3 earnings on Oct. 31. Investors are keen to see if increased infrastructure spending and the transition to clean energy are impacting CAT's bottom line. The company stands to benefit from the Infrastructure Investment and Jobs Act and the Revitalize American Manufacturing and Secure Critical Supply Chains per the Biden-Harris Plan. Risks include rising interest rates, inflation concerns, and the volatile US PMI index. Wall Street analysts expect CAT to report $4.79 in EPS for the quarter and $16.56BN in revenue. The stock is currently trading at around $250/share, down ~9% over the past month.

Portfolio Pulse from Surbhi Jain

October 25, 2023 | 7:55 pm

GOOGL

TXN

Technology stocks are trading lower due to overall weakness in the tech sector following earnings reports from Alphabet and Texas Instruments.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 7:47 pm

FND

Telsey Advisory Group analyst Joseph Feldman has reiterated the Market Perform rating on Floor & Decor Holdings, Inc. (NYSE:FND), but lowered the price target to $90 from $105. Feldman expects 3Q23 sales to increase 3% YoY to $1.1 billion, but anticipates a contraction in operating margin due to inflation and higher store operating expenses. The weak housing market and the lapping of pandemic-related gains are expected to put pressure on Floor & Decor's business.

Portfolio Pulse from Nabaparna Bhattacharya

October 25, 2023 | 7:46 pm

CFG

RF

Piper Sandler analyst R. Scott Siefers downgraded Regions Financial Corp (RF) and Citizens Financial Group Inc (CFG) to Neutral from Overweight due to disappointing Q3 earnings. The price target for RF was cut to $15 from $17, and for CFG to $26 from $29. RF's shares are expected to be rangebound due to credit deterioration. Despite belief in CFG's model and management, the potential to outperform is seen as further out than expected.

Portfolio Pulse from Lekha Gupta

October 25, 2023 | 7:23 pm

DDD

3D Systems Corp (NYSE:DDD) shares are trading lower after the company reported preliminary Q3 revenue of $123-124 million, down $8.3-9.3 million YoY due to soft printer demand. The company also announced a new restructuring initiative to improve operational efficiency, which is expected to result in annual savings of $45-55 million. Due to market softness and macroeconomic uncertainty, 3D Systems has withdrawn its full-year 2023 financial guidance.

Portfolio Pulse from Adam Eckert

October 25, 2023 | 7:21 pm

QCOM

TXN

Shares of QUALCOMM Incorporated (NASDAQ:QCOM) are trading lower, possibly in sympathy with Texas Instruments (NASDAQ:TXN), which reported worse-than-expected Q3 sales results and issued Q4 revenue guidance below estimates. Texas Instruments reported Q3 earnings of $1.85 per share, beating the analyst consensus estimate of $1.81, but sales of $4.53 billion missed the estimate of $4.57 billion. QCOM shares were down 4.25% at $104.75 at the time of publication.

Portfolio Pulse from Ryan Gustafson

October 25, 2023 | 7:15 pm

TMO

Thermo Fisher Scientific Inc (TMO) reported Q3 revenue of $10.574 billion, down 1% Y/Y, missing the consensus of $10.595 billion. Adjusted EPS of $5.69 beat the consensus of $5.61. The company revised its full-year revenue and adjusted EPS guidance due to the current macroeconomic environment. TMO shares are down 5.67% at $432.31.

Portfolio Pulse from Anusuya Lahiri

October 25, 2023 | 7:10 pm

PKX

POSCO Holdings reported its Q3 results, which led to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 7:08 pm

PKX

POSCO Holdings (NYSE:PKX) reported a decrease in Q3 earnings and sales YoY. Earnings per share were $1.38, down 5.48% from $1.46 last year. Sales were $14.43 billion, down 8.82% from $15.82 billion last year.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 7:07 pm

GD

General Dynamics Corp (NYSE:GD) reported a 6% YoY revenue growth in Q3 FY23 to $10.57 billion, beating the consensus of $10.04 billion. However, operating earnings fell 3.7% YoY to $1.06 billion. The company saw growth in its Combat Systems segment and a record backlog. The company's shares are trading higher by 4.08% at $242.51.

Portfolio Pulse from Akanksha Bakshi

October 25, 2023 | 7:04 pm