Streetbeat News

Earnings

TSLA

Tesla anticipates its capital expenditures to exceed $9 billion in 2023 and between $7 billion to $9 billion in each of the following two fiscal years, according to its 10Q report.

Portfolio Pulse from Charles Gross

October 23, 2023 | 10:07 am

HBT

HBT Financial (NASDAQ:HBT) reported Q3 adjusted earnings of $0.63 per share, beating the analyst consensus estimate of $0.58 by 8.62%. This is a 14.55% increase over earnings of $0.55 per share from the same period last year. However, the company reported quarterly sales of $57.77 million, missing the analyst consensus estimate of $58.77 million by 1.70%. This is a 26.62% increase over sales of $45.62 million the same period last year.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2023 | 10:07 am

PHG

Koninklijke Philips has revised its FY23 outlook, expecting to deliver 6-7% comparable sales growth and an Adjusted EBITA margin of 10-11%. The company's confidence is reinforced by its improved performance year-to-date, a strong order book, and ongoing actions, despite uncertainties in the volatile geopolitical environment.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2023 | 8:19 am

PHG

Koninklijke Philips (NYSE:PHG) reported Q3 adjusted earnings of $0.36 per share, beating the analyst consensus estimate of $0.33 by 8.79%. This is a 43.6% increase from the same period last year. The company also reported quarterly sales of $4.87 billion, beating the analyst consensus estimate of $4.65 billion by 4.65%, a 11.99% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2023 | 8:14 am

AMZN

GOOG

LLY

META

MSFT

PFE

SNAP

Analysts have tempered their expectations for profit growth, anticipating a continuation of the profit-declining trend. The blended year-over-year earnings of S&P 500 companies are expected to decrease by 0.4%, marking the fourth consecutive decline. The decline in earnings is largely due to downward revisions in earnings per share (EPS) estimates for Pfizer, Inc. (NYSE:PFE) and Eli Lilly & Co. (NYSE:LLY). Tech companies are expected to take the spotlight this week with earnings from Meta Platforms, Inc. (NASDAQ:META), Snap Inc. (NYSE:SNAP), Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL), Microsoft Corporation (NYSE:MSFT) and Amazon, Inc. (NASDAQ:AMZN).

Portfolio Pulse from Shanthi Rexaline

October 23, 2023 | 7:15 am

CLF

HIHO

PKG

PRST

WRB

Packaging Corporation of America (PKG), Presto Automation Inc (PRST), Cleveland-Cliffs Inc. (CLF), Highway Holdings Limited (HIHO), and W. R. Berkley Corporation (WRB) are stocks to watch heading into Monday. PKG is expected to report quarterly earnings of $1.92 per share on revenue of $1.99 billion. PRST filed for a mixed shelf of up to $75 million and promoted Justin Foster to Chief Revenue Officer. CLF is expected to earn 44 cents per share on revenue of $5.58 billion. HIHO reported a loss of 8 cents per share for Q1 2024, with net sales falling to $1.35 million. WRB is expected to report quarterly earnings of $1.19 per share on revenue of $3.08 billion.

Portfolio Pulse from Lisa Levin

October 23, 2023 | 7:10 am

AXP

CLF

PKG

SLB

WRB

The CNN Money Fear and Greed index showed an increase in overall fear among US investors, moving closer to the 'Extreme Fear' zone. This was reflected in the US stock market, with all sectors on the S&P 500 closing negatively. American Express Company (AXP) and Schlumberger N.V. (SLB) saw significant share price drops following their Q3 earnings releases. Investors are now awaiting earnings results from W. R. Berkley Corporation (WRB), Cleveland-Cliffs Inc. (CLF), and Packaging Corporation of America (PKG).

Portfolio Pulse from Lisa Levin

October 23, 2023 | 7:10 am

TSLA

Tesla's Cybertruck, set to start deliveries next month, was spotted with cargo racks at a Supercharger station in California. The sighting comes after Tesla's recent earnings call, where the company announced a delivery event for the Cybertruck on Nov. 30. CEO Elon Musk mentioned that the Cybertruck would take between 12 to 18 months to positively impact the company’s cash flow, despite over a million reservations.

Portfolio Pulse from Benzinga Neuro

October 23, 2023 | 5:53 am

FFND

TSLA

Tesla shares dropped following disappointing quarterly results and management's commentary. Investors are losing confidence in Tesla's long-term growth and fear further price cuts. Future Fund's Gary Black suggests Tesla should focus on accelerating EV adoption and executing growth initiatives, rather than relying on price cuts. He also advocates for a $100 million education campaign to inform potential EV buyers about the benefits of EVs.

Portfolio Pulse from Shanthi Rexaline

October 22, 2023 | 2:15 pm

TSLA

During Tesla's Q3 earnings call, CEO Elon Musk criticized remote work, calling it 'detached from reality'. Musk's stance on remote work has been consistent, and he has previously stated that it is morally wrong for tech workers to work from home while others have to be physically present. Musk is known for his demanding work ethic, and after acquiring Twitter, his workload increased to around 120 hours per week.

Portfolio Pulse from Chris Katje

October 21, 2023 | 4:11 pm