Streetbeat News

Earnings

AXL

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) reported Q2 FY23 sales growth of 9.2% YoY to $1.571 billion, slightly beating the consensus of $1.565 billion. Adjusted EPS of $0.12 beat the analyst consensus of $0.08. The company reiterated its FY23 sales guidance of $5.95 billion - $6.25 billion. Despite the positive earnings report, AXL shares are trading lower by 8.8% at $8.37.

Portfolio Pulse from Nabaparna Bhattacharya

August 04, 2023 | 3:51 pm

SQ

Shares of Block Inc (NYSE:SQ) fell in early trading on Friday, despite the company's better-than-expected quarterly results. Analysts from Needham, KeyBanc, Susquehanna, Mizuho Securities, and JMP Securities provided their insights on the earnings release, with most maintaining positive ratings and price targets. The stock's decline is likely due to signs of moderating gross payment volume (GPV) and transactional growth in the third and fourth quarter.

Portfolio Pulse from Priya Nigam

August 04, 2023 | 3:51 pm

DFH

Dream Finders Homes reported strong Q2 results, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 3:51 pm

PYPL

PayPal Holdings Inc's shares are trading lower by 0.75% to $63.70. Evercore ISI Group analyst David Togut downgraded the company from Outperform to In-Line and lowered the price target from $85 to $65. The stock has fallen 15% over the past five sessions after the company reported a sequential decline in active accounts and second-quarter earnings. However, PayPal reported quarterly earnings of $1.16 per share, beating the analyst consensus estimate of $1.05 by 10.48% and a 24.73% increase over earnings from the same period last year.

Portfolio Pulse from Henry Khederian

August 04, 2023 | 3:50 pm

ACMR

ACM Research, Inc. (NASDAQ:ACMR) reported Q2 revenues of $144.58 million, missing the analyst consensus of $113.32 million, a 38.5% Y/Y increase. The company's adjusted EPS was $0.48, beating the street view of $0.10. The company expects growth in 2023, driven by investments from China-based customers. ACMR shares are trading higher by 0.96% to $12.09.

Portfolio Pulse from Nabaparna Bhattacharya

August 04, 2023 | 3:50 pm

IRTC

iRhythm Technologies reported better-than-expected Q2 results, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 3:49 pm

PSA

Public Storage reported a miss on Q2 revenue, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 3:48 pm

BIO

Bio-Rad Laboratories reported better-than-expected Q2 EPS results and issued FY23 guidance, leading to a rise in its share price. RBC Capital also raised its price target for the company from $522 to $524.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 3:48 pm

AAPL

AMZN

BAC

NVDA

QQQ

SPY

Nvidia Corp's stock is trading higher following Apple Inc's reported Q3 EPS of $1.26 on revenue of $81.8 billion, driven by solid Service sector growth and robust iPhone sales. Amazon.Com, Inc also reported a robust Q2, with a revenue growth of 11% YoY to $134.4 billion, beating the consensus estimate. Bank Of America Corp's CEO dismissed recession forecasts, citing strength in the jobs market and robust consumer spending. Broader index ETFs SPDR S&P 500 and Invesco QQQ Trust, Series 1 are trading in the green.

Portfolio Pulse from Anusuya Lahiri

August 04, 2023 | 3:48 pm

EXPE

Expedia Group's shares are trading higher, rebounding after a fall on Thursday due to worse-than-expected Q2 results.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 3:48 pm