Streetbeat News

Earnings

AEP

American Electric Power (NASDAQ:AEP) is set to release its quarterly earnings report on July 27, 2023. Analysts estimate an EPS of $1.12. The company's past performance shows a mixed trend of earnings estimates and actuals, with the last quarter's EPS matching the estimate, leading to a 0.73% increase in share price. The stock is currently trading at $87.54, down 9.58% over the last 52-week period.

Portfolio Pulse from Benzinga Insights

July 26, 2023 | 3:02 pm

CVE

Cenovus Energy (NYSE:CVE) is set to release its quarterly earnings report on July 27, 2023. Analysts estimate an EPS of $0.31. The company's past performance shows a pattern of share price drops following earnings beats. The stock is currently trading at $18.14, down 6.24% over the last 52-week period.

Portfolio Pulse from Benzinga Insights

July 26, 2023 | 3:02 pm

HES

Hess Corp reported Q2 revenues of $2.32 billion, surpassing the consensus of $2.09 billion. Oil and gas net production rose 28% Y/Y to 387,000 barrels of oil equivalent per day (boepd). The company raised the net production outlook for 2023 due to strong operational performance. However, HES shares are trading lower by 0.29%.

Portfolio Pulse from Lekha Gupta

July 26, 2023 | 2:55 pm

ADP

ADP shares are trading higher following better-than-expected Q4 results.

Portfolio Pulse from Bill Haddad

July 26, 2023 | 2:53 pm

Visa Inc's shares are trading lower despite beating Q3 earnings estimates. The company reported revenues of $8.12 billion, up 12% YoY, and EPS of $2.16, up 25%. Payments volume, cross-border volume, and processed transactions also saw growth. Several analysts raised their price targets for Visa following the results. However, the company's shares were down 0.81% at the time of publication.

Portfolio Pulse from Adam Eckert

July 26, 2023 | 2:52 pm

FTV

Fortive Corp reported Q2 2023 sales growth of 4.3% Y/Y to $1.53 billion, beating the consensus of $1.51 billion. Adjusted EPS improved 9% Y/Y to $0.85, beating the consensus of $0.81. The company raised the adjusted EPS outlook to $3.36-$3.42. For Q3 2023, Fortive anticipates revenue of approximately $1.505 billion-$1.52 billion and adjusted EPS of $0.82-$0.85.

Portfolio Pulse from Lekha Gupta

July 26, 2023 | 2:48 pm

GOOGL

MSFT

NVDA

TSM

Nvidia Corp (NVDA) is in focus as Microsoft Corp (MSFT) and Alphabet Inc (GOOG, GOOGL) post strong quarterly results. Both companies highlighted the role of AI in their growth. A report suggests that Nvidia and OpenAI could collaborate on an AI model that can combine millions of GPUs. Nvidia has already supplied around 20,000 of its new AI GPUs to OpenAI for further expansion. Nvidia is also working with Taiwan Semiconductor Manufacturing Company Ltd (TSM) to increase supply.

Portfolio Pulse from Anusuya Lahiri

July 26, 2023 | 2:46 pm

SNAP

Snap Inc's shares fell by 19.14% after reporting Q3 earnings. The company's revenue was $1.07 billion, down 4% YoY but ahead of the Street consensus estimate of $1.05 billion. Snap reported a loss of two cents per share, beating the Street estimate of a loss of four cents per share. Daily active users increased by 14% YoY to 397 million. Despite exceeding estimates, the decline in revenue may concern investors.

Portfolio Pulse from Henry Khederian

July 26, 2023 | 2:42 pm

GSL

NAT

NETI

PANL

UUU

Benzinga Insights has identified five value stocks in the industrials sector based on quantified analysis. These include Eneti (NYSE:NETI), Nordic American Tankers (NYSE:NAT), Universal Security (AMEX:UUU), Pangaea Logistics Solns (NASDAQ:PANL), and Global Ship Lease (NYSE:GSL). The companies have shown varying performance in terms of earnings per share and dividend yield.

Portfolio Pulse from Benzinga Insights

July 26, 2023 | 2:41 pm

ABVC

AURC

DXF

MXL

SIMO

VICR

US stocks traded mixed with Dow Jones gaining around 20 points. Coca-Cola Co reported better-than-expected earnings for its second quarter and raised its FY23 organic revenue growth outlook. Silicon Motion Technology Corporation, ABVC BioPharma, and Vicor Corporation shares rose following positive news. Dunxin Financial Holdings, Aurora Acquisition Corp., and MaxLinear shares fell.

Portfolio Pulse from Lisa Levin

July 26, 2023 | 2:39 pm