Streetbeat News

Earnings

UMC

United Microelectronics Corp (UMC) anticipates a 5% quarter-on-quarter decline in Q4 wafer shipments. The company also expects flat average selling price (ASP), gross margin in the low 30% range, and capacity utilization in the low 60% range. UMC has planned a capital expenditure of $3B for 2023.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 9:08 am

GPI

Group 1 Automotive (NYSE:GPI) reported Q3 adjusted earnings of $12.07 per share, beating the analyst consensus estimate of $11.48 by 5.14%. This is a 0.58% increase from the same period last year. The company also reported quarterly sales of $4.71 billion, surpassing the analyst consensus estimate of $4.51 billion by 4.32%, a 13.02% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 9:07 am

LAD

Lithia Motors (NYSE:LAD) reported Q3 earnings of $9.25 per share, missing the analyst consensus estimate of $10.08 by 8.23%. This is a 16.52% decrease from the same period last year. However, the company's quarterly sales of $8.28 billion beat the analyst consensus estimate of $8.20 billion by 0.98%, marking a 12.32% increase from last year.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 9:05 am

UMC

United Microelectronics (NYSE:UMC) reported Q3 earnings of $0.20 per share, beating the analyst consensus estimate of $0.17 by 17.65%. However, this is a 42.03% decrease from the same period last year. The company also reported quarterly sales of $1.77 billion, beating the estimate of $1.75 billion by 1.14%, but this is a 25.63% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 9:03 am

MOR

MorphoSys has updated its 2023 Monjuvi US net product sales forecast to $85M-$95M, a slight increase from the previous estimate of $80M-$95M. The gross margin for Monjuvi US net product sales is expected to be around 75%, a slight decrease from the previous range of 75%-80%.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 9:00 am

MOR

MorphoSys has reported preliminary Q3 2023 Monjuvi US net product sales of $23.4M (€21.5M), with a preliminary gross margin for Monjuvi US net product sales of 65%.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 8:58 am

BA

GM

KO

META

TMUS

The CNN Money Fear and Greed index showed a decrease in fear among US investors, but remained in the 'Fear' zone. The Dow Jones closed higher by over 200 points, ending a four-session losing streak. Coca-Cola and General Motors reported better-than-expected Q3 results. About 23% of S&P 500 companies have released Q3 results, with 77% exceeding market estimates. Investors are awaiting earnings results from Boeing, Meta Platforms, and T-Mobile US.

Portfolio Pulse from Lisa Levin

October 25, 2023 | 7:39 am

BA

GOOGL

META

MSFT

TMUS

Boeing, Alphabet, Meta Platforms, Microsoft, and T-Mobile US are the stocks to watch heading into Wednesday. Boeing is expected to report a quarterly loss, while Alphabet reported better-than-expected earnings but a downbeat performance for its cloud computing unit. Meta Platforms is expected to report earnings after the markets close. Microsoft posted stronger-than-expected results for its fiscal first quarter, and T-Mobile US is expected to report quarterly earnings before the opening bell.

Portfolio Pulse from Lisa Levin

October 25, 2023 | 7:39 am

MSFT

Microsoft's Bing Image Creator, powered by DALL-E 3, has generated over 1.8 billion realistic images. The tool, developed by OpenAI, has been operational since March. The company's CEO, Satya Nadella, revealed this during the Q1 earnings call, also noting that Bing users have engaged in more than 1.9 billion chats. The tool is available for free in exchange for a Microsoft account.

Portfolio Pulse from Ananya Gairola

October 25, 2023 | 7:35 am

FANH

FANHUA is expected to recognize an unrealized investment gain of approximately $22.5 million in Q3 2023, following the recent listing of a company in which it owns 2.8% equity. This gain is expected to significantly increase the company's net income attributable to shareholders for Q3 2023. The company's full-year guidance of no less than 50% YoY increase in operating income in 2023 remains unchanged.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 7:16 am