Streetbeat News

Earnings

SEDG

SolarEdge (SEDG) shares are trading lower due to weak Q3 guidance.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 11:19 am

TEVA

Teva Pharmaceutical Industries Ltd. has revised its FY23 revenue forecast to $15.0B-$15.4B, up from the previous range of $14.8B-$15.4B. The new forecast is in line with the consensus estimate of $15.02B. The company has maintained its adjusted EPS forecast of $2.25-$2.55, which is also in line with the consensus estimate of $2.27.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 11:19 am

CVS

CVS Health Corp's Q2 sales increased by 10.3% Y/Y to $88.9 billion, beating the consensus of $86.74 billion. The company's pharmacy and consumer wellness segment saw revenue grow 7.6% to $28.78 billion. The company recorded $496 million in pre-tax charges related to a restructuring program it started during the quarter to cut costs. CVS Health revised GAAP EPS to $6.53-$6.75 from $6.90-$7.12. CVS shares are down 2.30% at $72.25 during the premarket session.

Portfolio Pulse from Vandana Singh

August 04, 2023 | 11:19 am

TOON

Kartoon Studios (NYSE:TOON) announced its streaming service business, including Kartoon Channel!, has seen significant growth across all major metrics, led by viewership and consumption. The service has achieved 82% YoY improvement in the first half of 2023 and maintains a user ranking of 4.9 in the Apple App Store, outperforming major competitors like YouTube Kids and Disney+. The service is nearing profitability and continues to expand internationally.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 11:19 am

PSX

Phillips 66 (PSX) reported Q2 adjusted EPS of $3.87, beating the consensus of $3.54. Revenue of $35.74 billion also exceeded the consensus of $34.55 billion. The company returned $1.8 billion to shareholders through dividends and share repurchases in Q2. Since July 2022, the company has returned $5.4 billion to shareholders, with a target of $10 billion to $12 billion by year-end 2024. The company closed the $3.8 billion acquisition of DCP Midstream, LP in Q2. PSX shares are trading lower by 1.48% at $110.45 premarket.

Portfolio Pulse from Lekha Gupta

August 04, 2023 | 11:19 am

CLSK

CleanSpark, Inc. (NASDAQ:CLSK) has released its unaudited bitcoin mining and operations update for July 2023. The company doubled its bitcoin holdings to 1,061 BTC and increased its hashrate to an all-time high of 9 exahashes per second (EH/s). Production also increased by 17% month over month. The company sold 43 bitcoins in July 2023 at an average of approximately $29,300 per BTC, equating to proceeds of approximately $1.3 million.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 11:18 am

PYPL

PayPal Holdings, Inc. (NASDAQ:PYPL) is expected to report its Q2 financial results on Aug. 2, 2023, with analysts predicting earnings of $1.16 per share, up from 93 cents a year ago, and revenue of $7.27 billion. Recently, several analysts have adjusted their price targets for PayPal, with most reducing their targets.

Portfolio Pulse from Lisa Levin

August 04, 2023 | 11:18 am

HUM

Humana has increased its FY23 Individual Medicare Advantage Membership growth forecast by 50,000 to approximately 825,000, up from the 775,000 previously expected. The company has also reaffirmed its adjusted EPS guidance of at least $28.25, slightly below the consensus of $28.29.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 11:18 am

SHIP

Seanergy Maritime Hldgs (NASDAQ:SHIP) reported Q2 earnings of $0.18 per share, beating the analyst consensus estimate of $0.12 by 50%. However, this is a 55% decrease from the same period last year. The company also reported quarterly sales of $28.33 million, beating the estimate of $26.39 million by 7.34%, but this is a 13.76% decrease from the same period last year.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 11:18 am

EMR

Emerson Electric Co (NYSE:EMR) reported a 14% YoY increase in net sales to $3.95 billion in Q3 FY23, beating the consensus of $3.89 billion. Adjusted EPS improved 40% YoY to $1.29, surpassing the consensus of $1.09. The company raised its FY23 outlook, expecting net sales growth of ~10.5% and an adjusted EPS of $4.40 - $4.45. EMR shares are trading higher by 3.57% at $94.90 premarket on Wednesday.

Portfolio Pulse from Akanksha Bakshi

August 04, 2023 | 11:18 am