Streetbeat News

Earnings

PLXS

Plexus Corp. reported its Q4 financial results and issued Q1 revenue guidance, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 3:38 pm

FLS

Flowerserve reported better-than-expected Q3 financial results and raised its FY23 adjusted EPS and revenue growth guidance, leading to a rise in its share price.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 3:36 pm

MYRG

MYR Group reported its Q3 financial results, leading to a decrease in its share prices.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 3:34 pm

CICHY

CILJF

China Construction Bank (OTC:CICHY) and China Life Insurance (OTC:CILJF) released their Q3 earnings, providing insight into China's economy. CICHY reported a net profit of $12 billion, a 3% improvement YoY, beating analysts' expectations. However, its non-performing loans to assets ratio remained flat at 1.37%. CILJF reported a net profit of 16.2 billion RMB, a 48% reduction in earnings-per-share YoY. The company attributed the decline to a flagging stock market. Both companies' earnings indicate robust underlying conditions for China's economy but also highlight the need for stimulation to achieve market growth.

Portfolio Pulse from Daniel Harrison

October 26, 2023 | 3:33 pm

LH

Labcorp shares are trading higher after the company reported better than expected Q3 earnings.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 3:32 pm

AAPL

AMZN

GOOG

META

MSFT

NVDA

QQQ

SPY

TSLA

The US economy has shown its strongest quarterly performance since Q4 2021, with a 4.9% QoQ annualized growth rate in Q3, surpassing market expectations of 4.3%. Despite the Federal Reserve's intention to slow consumer spending by raising interest rates, consumers continued to boost spending in Q3. However, there are concerns that the Fed might indicate the need for rate increases by the end of the year if inflation persists. This news has negatively impacted the US stock market, with the SPDR S&P 500 ETF Trust and the Invesco QQQ Trust falling 0.2% and 0.7% respectively. The 'magnificent seven' basket, including Apple, Microsoft, Alphabet, Amazon, Meta Platforms, NVIDIA, and Tesla, fell 1.4%.

Portfolio Pulse from Piero Cingari

October 26, 2023 | 3:32 pm

EME

EMCOR Group reported better-than-expected Q3 financial results and raised its FY23 revenue guidance above estimates, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 3:28 pm

MAT

Mattel's Q3 financial results have led to a decrease in its share price. Morgan Stanley has maintained an Overweight rating on the stock but reduced its price target from $27 to $25.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 3:27 pm

FCFS

FirstCash Holdings reported better-than-expected Q3 financial results and issued optimistic Q4 and FY23 retail sales guidance, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 3:25 pm

SAVE

Spirit Airlines Inc (NYSE:SAVE) reported Q3 FY23 revenue of $1,259 million, a 6.3% Y/Y decline but beating the consensus of $1,258 million. Adjusted EPS loss of $(1.37) also beat the consensus of $(1.48). Passenger revenues fell 6.7% Y/Y to $1,234 million, while other revenue rose 16.7% Y/Y to $24.6 million. The company warned that higher fuel prices and NEO engine availability issues are expected to lower Q4 margins. Spirit's shares are trading lower by 4.59% at $16.01.

Portfolio Pulse from Lekha Gupta

October 26, 2023 | 3:22 pm