Streetbeat News

Earnings

IBKR

Interactive Brokers Group, Inc. (NASDAQ:IBKR) reported its Electronic Brokerage monthly performance metrics for September 2023. The company reported 1.798 million Daily Average Revenue Trades (DARTs), 8% lower than the prior year and 7% lower than the prior month. Client equity ended at $369.8 billion, 29% higher than the prior year but 2% lower than the prior month. Client margin loan balances ended at $43.6 billion, 8% higher than the prior year and 4% higher than the prior month. The company also reported 2.43 million client accounts, 21% higher than the prior year and 3% higher than the prior month.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 4:21 pm

FDX

FedEx Corp (NYSE:FDX) shares climbed after reporting positive quarterly results. Despite cyclical risks, Susquehanna analyst Bascome Majors upgraded FedEx from Neutral to Positive and raised the price target from $225 to $315. Majors cited three reasons for his confidence: historical performance of FDX volumes vs. share performance, fiscal 2024 guidance that absorbs return of incentive comp and unwind of pandemic pricing, and conservative forecasts for FDX's market-share-leading LTL business Freight.

Portfolio Pulse from Priya Nigam

October 02, 2023 | 4:19 pm

AWIN

EFXT

ICCM

INBS

NVTA

SDC

U.S. stocks traded mixed with the Nasdaq Composite gaining and the Dow and S&P 500 falling. The ISM manufacturing PMI increased to 49 in September, above market estimates. AERWINS Technologies, IceCure Medical, and Invitae Corporation saw their shares rise after positive company news. SmileDirectClub, Intelligent Bio Solutions, and Enerflex saw their shares drop due to negative company news. Gold and oil prices fell.

Portfolio Pulse from Lisa Levin

October 02, 2023 | 4:05 pm

TSLA

Tesla Inc (NASDAQ:TSLA) reported lower-than-expected vehicle production and delivery numbers for Q3, causing its shares to initially drop by over 2%. The company produced 430,488 vehicles, down from 479,700 in Q2, and delivered 435,059 vehicles, down from 466,140 in Q2. Despite this, Tesla maintains its full-year 2023 volume target of around 1.8 million vehicles. Analysts believe the lower numbers are due to planned factory downtimes and expect better performance in Q4.

Portfolio Pulse from AJ Fabino

October 02, 2023 | 3:54 pm

COP

A whale investor has taken a bullish stance on ConocoPhillips (NYSE:COP), with 56% of investors opening trades with bullish expectations and 43% with bearish. The whale has been targeting a price range from $65.0 to $135.0 for ConocoPhillips over the last 3 months. The price of COP is currently up 0.4% at $120.28, with RSI indicators suggesting the stock may be approaching oversold. The next earnings are expected to be released in 31 days.

Portfolio Pulse from Benzinga Insights

October 02, 2023 | 3:45 pm

ARCH

Arch Resources Inc (NYSE:ARCH) shares dropped by around 13% after the company provided weak Q3 guidance and revised its FY23 outlook. The company expects Q3 coking coal sales volumes to remain at par with Q2 due to ongoing challenges at its Leer South Mine. The FY23 outlook for coking coal sales volumes was revised to 8.6-8.9 million tons and the average metallurgical cash cost guidance was increased to $88-$91 per ton. The company also expects Q3 adjusted EBITDA to be roughly 10% lower than Q2.

Portfolio Pulse from Lekha Gupta

October 02, 2023 | 2:54 pm

CCOI

NCMI

The article provides an overview of value stocks in the communication services sector, highlighting Weibo (NASDAQ:WB), KT (NYSE:KT), National CineMedia (NASDAQ:NCMI), Verizon Communications (NYSE:VZ), and Cogent Comms Hldgs (NASDAQ:CCOI). All these companies have low P/E multiples, indicating they may be undervalued. The companies have also reported increases in earnings per share and dividend yields in Q2 compared to Q1.

Portfolio Pulse from Benzinga Insights

October 02, 2023 | 2:45 pm

ARCT

CALC

FWBI

INVA

PNT

The article discusses value stocks in the healthcare sector, which are traditionally undervalued. The companies mentioned include First Wave BioPharma, Arcturus Therapeutics, CalciMedica, POINT Biopharma Global, and Innoviva. All these companies have seen a decrease in their earnings per share recently.

Portfolio Pulse from Benzinga Insights

October 02, 2023 | 2:43 pm

ABR

ALX

FOR

SOHO

Benzinga Insights has identified Forestar Group, Hersha Hospitality, Sotherly Hotels, Arbor Realty Trust, and Alexander's as notable value stocks in the real estate sector. The selection is based on low P/E multiples and recent earnings per share and dividend yield reports.

Portfolio Pulse from Benzinga Insights

October 02, 2023 | 2:39 pm

MKC

McCormick & Company is expected to report lower Q3 earnings of 65 cents per share, down from 69 cents per share a year ago. However, the company's revenue might increase to $1.7 billion from $1.61 billion. The company's shares rose 1.3% to close at $75.64 on Friday. Analysts from TD Cowen, Stifel, JP Morgan, and Bernstein have given varied ratings and price targets for the company.

Portfolio Pulse from Lisa Levin

October 02, 2023 | 2:39 pm