Streetbeat News

Earnings

GOOGL

MSFT

Microsoft Corporation (NASDAQ:MSFT) shares rose 3.6% to $342.51 in pre-market trading as the company posted stronger-than-expected results for its fiscal first quarter. Piper Sandler maintained Microsoft with an Overweight and raised the price target from $400 to $425. Alphabet Inc. (NASDAQ:GOOGL) shares fell 6.8% to $129.42 in pre-market trading. Alphabet reported better-than-expected earnings and sales results for its third quarter, but recorded downbeat performance for its cloud computing unit.

Portfolio Pulse from Lisa Levin

October 25, 2023 | 12:03 pm

DDD

3D Systems has withdrawn its full-year 2023 financial guidance due to a softening outlook for customer capital spending on new production capacity.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 12:03 pm

KO

MMM

NUE

V

VZ

CNBC Mad Money host Jim Cramer highlighted Nucor Corp. (NUE) as the biggest earnings surprise on Tuesday, despite several blue-chip companies also reporting earnings beats. Nucor reported Q3 earnings of $4.57 per share on revenue of $8.78 billion, beating consensus estimates. Cramer had previously picked Nucor as a top stock for 2023, citing its ability to deliver solid earnings despite Fed tightening and potential benefits from the infrastructure bill. Following the earnings beat, Nucor's stock rose 4.75%.

Portfolio Pulse from Shanthi Rexaline

October 25, 2023 | 12:02 pm

NSC

Norfolk Southern has reported its Q3 adjusted EPS at $2.65, which is slightly lower than the estimated $2.69.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 12:02 pm

RDUS

Schnitzer Steel reported Q4 adjusted earnings of $0.47 per share, beating the analyst consensus estimate of $0.31 by 51.61%. However, the company's quarterly sales of $718.00 million missed the analyst consensus estimate of $721.30 million by 0.46%. This represents a 6% decrease in earnings and a 19.72% decrease in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 12:02 pm

R

Ryder has increased its FY23 adjusted EPS outlook to $12.60 - $12.85, up from the previous range of $12.20-$12.70. However, the company expects total revenue growth to be around -2%.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 12:02 pm

HESM

Hess Midstream (NYSE:HESM) reported Q3 earnings of $0.57 per share, beating the analyst consensus estimate of $0.55 by 3.64%. This is a 7.55% increase from the same period last year. The company also reported quarterly sales of $363.10 million, beating the analyst consensus estimate of $342.38 million by 6.05%. This is an 8.45% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 12:01 pm

KO

Coca-Cola (NYSE:KO) reported better-than-expected Q3 FY23 results, with sales growth of 8% YoY to $11.95 billion, beating the analyst consensus estimate of $11.44 billion. The company also raised its FY23 organic revenue growth outlook from 8%-9% to 10%-11%. Coca-Cola's dividend yield is currently 3.31%, which equates to a quarterly dividend of 46 cents a share. To earn $500 monthly from Coca-Cola dividends, an investor would need to own approximately $181,442 worth of Coca-Cola, or 3,261 shares.

Portfolio Pulse from Lisa Levin

October 25, 2023 | 12:01 pm

APH

Amphenol (NYSE:APH) reported Q3 earnings of $0.78 per share, beating the analyst consensus estimate of $0.74 by 5.41%. However, this is a 2.5% decrease from the same period last year. The company also reported quarterly sales of $3.20 billion, beating the analyst consensus estimate of $3.10 billion by 3.19%, but this is a 2.91% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 12:01 pm

SBT

Sterling Bancorp (NASDAQ:SBT) reported Q3 earnings of $0.01 per share, missing the analyst consensus estimate of $0.04 by 75%. This is a 50% decrease from the same period last year. The company also reported quarterly sales of $16.38 million, missing the analyst consensus estimate of $17.27 million by 5.17%. This is a 14.62% decrease from the same period last year.

Portfolio Pulse from mahesh@benzinga.com

October 25, 2023 | 11:59 am