Streetbeat News

Earnings

SOHU

Sohu.com reported Q2 losses of $0.52 per share, missing the analyst consensus estimate of $0.44 by 18.18%. This is a 244.44% decrease over earnings of $0.36 per share from the same period last year. The company reported quarterly sales of $152.09 million, beating the analyst consensus estimate of $153.69 by 98.96M percent. This is a 21.92% decrease over sales of $194.78 million the same period last year.

Portfolio Pulse from saritha@benzinga.com

August 07, 2023 | 5:17 am

SOHU

Sohu.com reported Q2 losses of $(0.52) per share, missing the analyst consensus estimate of $(0.44) by 18.18%. This is a 244.44% decrease over earnings of $0.36 per share from the same period last year. The company reported quarterly sales of $152.09 million, beating the analyst consensus estimate of $153.69 by 98.96M percent. This is a 21.92% decrease over sales of $194.78 million the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 5:17 am

ADTN

Adtran (NASDAQ:ADTN) reported Q2 earnings of $0.00 per share, a 99.47% decrease YoY. The company's quarterly sales were $327.39M, missing the analyst consensus estimate of $329.40M by 0.61%. However, this is a 90.30% increase over sales of $172.04M from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 5:05 am

AAPL

HNHPF

Apple Inc. (AAPL) is preparing for the launch of iPhone 15 amid a slump in the U.S. smartphone market. The company expects iPhone sales in the U.S. to improve in the current period, potentially better than the 2.4% drop seen in the June quarter. However, overall revenue is expected to decline in the September quarter, extending the company's year-over-year sales decline for a fourth straight quarter. The iPhone 15 is expected to go on sale around Sept. 22.

Portfolio Pulse from Shanthi Rexaline

August 07, 2023 | 4:57 am

AMZN

Amazon.com Inc's shares soared after the company reported its Q2 financial results, nearing 52-week highs and increasing Jeff Bezos' wealth by nearly $11 billion. Bezos celebrated with a party on his $500 million yacht, Koru. No wedding date has been set for Bezos and his fiancée, Lauren Sanchez.

Portfolio Pulse from Chris Katje

August 06, 2023 | 9:41 pm

APPL

BRK

Berkshire Hathaway's investment in Apple is set to yield significant dividends following Apple's strong Q2 performance. Apple announced a common stock dividend of $0.24 per share, which for Berkshire's 915,560,382 shares, equates to a dividend of $219.74 million. The fair value of Berkshire's Apple investment increased from $151 billion to $177.6 billion in Q2, potentially due to Apple's stock price increase or additional shares accumulated.

Portfolio Pulse from Shanthi Rexaline

August 06, 2023 | 2:16 pm

AAPL

This week, Apple Inc. (NASDAQ:AAPL) announced a significant discount on the 16-inch 2021 MacBook Pro, rumors of a major overhaul for the iPhone 15, and the introduction of a new color for the Apple Watch Series 9. The company also removed hundreds of ChatGPT-like apps from the Chinese App Store due to illegal content. Additionally, Apple reported a record-breaking quarter in India, despite the global drop in iPhone sales.

Portfolio Pulse from Benzinga Neuro

August 06, 2023 | 12:01 pm

FSR

IEP

MDT

NKLA

PYPL

Barron's has covered several stories over the weekend, including the sell-off of medtech stocks such as Medtronic, Edwards Lifesciences, and Boston Scientific due to rising interest in the weight-loss drug Ozempic. PayPal's stock was downgraded due to competition from Apple Pay and declining margins. Nikola Corp's stock fell by 26% following approval to issue more shares and the announcement of a new CEO. Fisker Inc reported disappointing sales and cut its production guidance despite beating earnings forecasts. Icahn Enterprises cut its quarterly distribution and reported a larger Q2 loss.

Portfolio Pulse from Justin Chan

August 05, 2023 | 9:13 pm

AAPL

AXP

BAC

BRK

CVX

Berkshire Hathaway reported Q2 results showing a modest increase in operating income and a reversal to gain in investment income, thanks to the equity market rally. The firm's operating earnings were $10.04 billion, higher than last year's $9.42 billion. The increase in operating income was due to an increase in insurance underwriting income and insurance investment income. The firm's investment and derivative gains were $25.87 billion, reflecting investment gains from equity securities. The company's cash and cash equivalents increased to $147.377 billion. About 78% of Berkshire's aggregate fair value of equity investments were concentrated in Apple, Bank of America, American Express, Coca-Cola, and Chevron.

Portfolio Pulse from Shanthi Rexaline

August 05, 2023 | 4:28 pm

BLK

HOOD

JPM

MSCI

TSLA

UBER

The major stock indexes experienced a down week, with the Nasdaq, S&P, and Dow falling by roughly 2.9%, 2.3%, and 1.1% respectively. Fitch Ratings lowered the U.S. government's credit rating from AAA to AA+. Despite this, the job market remained robust with the unemployment rate dropping to 3.5%. Tesla, Inc. (TSLA) was suggested to buy Uber Technologies, Inc. (UBER) to capitalize on autonomous ride-hailing. Robinhood Markets, Inc. (HOOD), Uber, and Wayfair Inc. (W) achieved unexpected profitability in Q2. X, formerly Twitter, is exploring the possibility of building a trading hub for cryptocurrencies. Ford Motor Co's (F) Q2 revenue surge overshadowed a $4.5 billion loss in EV. BlackRock Inc (BLK) and MSCI Inc (MSCI) are under scrutiny for allegedly channeling investments into Chinese companies accused of human rights violations. JPMorgan Chase & Co (JPM) CEO Jamie Dimon expressed heightened concern over fiscal spending, quantitative tightening, and the Ukraine crisis.

Portfolio Pulse from Michael Cohen

August 05, 2023 | 1:20 pm