Streetbeat News

Earnings

UAL

United Airlines Holdings (NASDAQ:UAL) reported Q3 earnings of $3.65 per share, beating the analyst consensus estimate of $3.39 by 7.67%. This is a 29.89% increase from the same period last year. The company also reported quarterly sales of $14.48 billion, beating the analyst consensus estimate of $14.44 billion by 0.30%. This is a 12.48% increase from the same period last year.

Portfolio Pulse from Bill Haddad

October 17, 2023 | 8:02 pm

PNFP

Pinnacle Financial Partners reported Q3 adjusted EPS of $1.79, beating the estimate of $1.71.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 8:02 pm

RCUS

Arcus Biosciences (NYSE:RCUS) will present data from the ongoing Phase 2 EDGE-Gastric study at the ASCO Monthly Plenary Series on November 7, 2023. The study evaluates the combination of domvanalimab and zimberelimab in patients with advanced gastrointestinal cancers. Arcus will also report its Q3 2023 financial results and host a conference call on the same day.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 8:01 pm

NFLX

TTWO

Netflix Inc (NASDAQ:NFLX) is set to report Q3 financial results, with analysts expecting revenue of $8.537 billion, an increase from $7.926 billion in the same quarter last year. The company has missed revenue estimates in five of the last seven quarters. Earnings per share are expected to be $3.47, up from last year’s $3.10. Analysts are watching for password sharing, advertising, margins, video games, sports and artificial intelligence. Netflix has also held discussions with Take-Two Interactive Software (NASDAQ:TTWO) about licensing a game from the “Grand Theft Auto” franchise.

Portfolio Pulse from Chris Katje

October 17, 2023 | 7:36 pm

PLD

Prologis shares are trading lower following the release of their Q3 earnings report.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 6:54 pm

AMZN

GOOGL

META

Truist analyst Youssef Squali has re-rated Alphabet Inc (Google), Meta Platforms Inc, and Amazon.Com Inc ahead of their 3Q results. Squali expects the results to be in line with expectations, driven by cost containment and higher Y/Y margins and profitability. He predicts Google's 3Q gross revenue to be up 8% Y/Y, Meta's 3Q revenue to be $33.5 billion, and Amazon's 3Q top-line estimates for North American revenues to be $84.7 billion.

Portfolio Pulse from Anusuya Lahiri

October 17, 2023 | 6:49 pm

ASMB

BAC

EVLO

GLUE

NTCT

OLK

SPRC

Bank of America Corp reported better-than-expected earnings for its third quarter, with EPS of $0.90, compared to $0.81 in the year-ago period, beating the consensus of $0.81. Revenue increased 3% year-over-year to $25.32 billion, beating the consensus of $25.14 billion. SciSparc Ltd. shares shot up 122% after Aegis Capital Corp. acted as exclusive placement agent on a $5.0 million private placement for SciSparc. Shares of Assembly Biosciences, Inc. got a boost after the company and Gilead announced a 12-year partnership. Olink Holding AB shares were also up after Thermo Fisher Scientific announced it will acquire the company. Evelo Biosciences, Inc. shares dropped 56% after releasing top-line results from its Phase 2 clinical study. Shares of NetScout Systems, Inc. were down after the company reported weak preliminary results for the second quarter and lowered its FY24 guidance. Monte Rosa Therapeutics, Inc. was down after announcing interim data from the Phase 1 dose escalation part of its ongoing phase 1/2 study.

Portfolio Pulse from Lisa Levin

October 17, 2023 | 6:31 pm

JNJ

Johnson & Johnson (J&J) reported Q3 2023 financial results with total sales of $21.3 billion, a 6.8% increase compared to the same period in 2022. U.S. sales totaled $11.996 billion, an 11.1% increase from 2022. The company also reported a one-time, non-cash gain of around $21 billion related to the final separation of J&J’s consumer health business. The company received several treatment approvals from the FDA and the European Commission, and submitted applications to the European Medicines Agency.

Portfolio Pulse from Lara Goldstein

October 17, 2023 | 6:28 pm

BAC

Bank of America Corp (BAC) reported a 10% YoY increase in net income to $7.8 billion and a 2.9% YoY increase in revenue to $25.32 billion for Q3. However, CEO Brian Moynihan warned of a slowdown in consumer spending, which has decelerated in a 'healthy but slowing economy'. The growth rate of consumer spending, which was close to 10% from 2021 to 2022, has now slipped to 4-4.5%.

Portfolio Pulse from Adam Eckert

October 17, 2023 | 5:55 pm

ASMB

OLK

SFBS

SPRC

The article lists the stocks that gained and lost in Tuesday's mid-day session. Notable gainers include SciSparc Ltd., Assembly Biosciences, Inc., and Olink Holding AB, while notable losers include Evelo Biosciences, Inc., Monte Rosa Therapeutics, Inc., and Nuvve Holding Corp. The article also mentions that ServisFirst Bancshares shares are trading lower by 6% after the company reported third-quarter earnings.

Portfolio Pulse from Lisa Levin

October 17, 2023 | 5:42 pm