Streetbeat News

Earnings

FCX

Freeport-McMoRan reported Q2 earnings per share (EPS) of $0.35, beating the estimate of $0.34. The company's sales also surpassed estimates, coming in at $5.74 billion against the expected $5.54 billion.

Portfolio Pulse from Bill Haddad

July 20, 2023 | 12:08 pm

BX

Blackstone Group Inc. (BX) shares are trading lower following the company's Q2 sales results, which were below market expectations.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 12:08 pm

TSLA

Tesla shares are trading lower following the release of the company's Q2 financial results.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 12:07 pm

SNA

Snap-On Inc reported Q2 FY23 sales growth of 4.8% YoY to $1.191 billion, slightly beating the analyst consensus. The revenue increase was due to a 5.6% organic sales gain, partially offset by unfavorable foreign currency translation. Segment sales in Commercial & Industrial Group, Snap-on Tools Group, and Repair Systems & Information Group increased. Gross profit for the quarter gained 9% to $603.7 million, and the gross margin expanded to 50.6%. EPS of $4.89 beat the analyst consensus of $4.56. Snap held $871.3 million in cash and equivalents as of July 1, 2023.

Portfolio Pulse from Shivani Kumaresan

July 20, 2023 | 12:06 pm

EWBC

East West Bancorp (NASDAQ:EWBC) reported Q2 earnings of $2.20 per share, beating the analyst consensus estimate of $2.14 by 2.8%. This is a 21.55% increase from the same period last year. The company also reported quarterly sales of $645.00 million, beating the analyst consensus estimate of $599.45 million by 7.60%. This is a 36.38% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 12:05 pm

NFLX

Netflix reported mixed Q2 results and issued soft Q3 sales guidance, leading to a drop in its share price. The company also expects lower cash content spend in 2023 due to timing of production starts and ongoing WGA and SAG-AFTRA strikes.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 12:04 pm

INFY

Infosys shares are trading lower following the company's worse-than-expected Q1 EPS results.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 12:04 pm

DFS

LYT

NBTX

NCPL

PRFX

TSLA

Several stocks experienced significant movement in pre-market trading. Notable gainers include Lytus Technologies Holdings (LYT), PainReform (PRFX), and Nanobiotix (NBTX), which saw a rise after announcing the first patient was injected in a new Phase 1/2 study. On the other hand, Netcapital (NCPL), Discover Financial Services (DFS), and Tesla (TSLA) were among the losers, with Tesla's operating margin narrowing despite better-than-expected earnings and sales results.

Portfolio Pulse from Lisa Levin

July 20, 2023 | 12:04 pm

SIFY

Sify Technologies (NASDAQ:SIFY) reported Q1 earnings of $0.01 per share, missing the analyst consensus estimate by 37 percent. This is a 68.5 percent decrease from the same period last year. The company also reported quarterly sales of $104.05 million, missing the analyst consensus estimate of $129.70 million by 19.78 percent, but marking a 4.14 percent increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 12:03 pm

DHI

D.R. Horton, Inc (DHI) shares are trading higher following its Q3 FY23 results. The company reported a 10.7% YoY sales growth to $9.725 billion, beating the consensus of $8.39 billion. EPS was $3.90, beating the consensus of $2.79. Home sales revenues were $8.7 billion on 22,985 homes closed. DHI repurchased 3.1 million shares for $342.9 million during the quarter. The company declared a quarterly cash dividend of $0.25 per share. DHI raised its FY23 outlook and now sees revenue of $34.7 billion-$35.1 billion.

Portfolio Pulse from Akanksha Bakshi

July 20, 2023 | 11:46 am