Streetbeat News

Earnings

MMP

Magellan Midstream has updated its 2023 financial expectations, increasing its annual stand-alone DCF expectations by $40 million to $1.26 billion. This is due to higher-than-expected performance in Q2 and an improved outlook for commodity-related activities. The company estimates net income per unit to be $5.05 for 2023, with Q3 net income expected to be $1.15 per unit. The company is confident that its pending merger with ONEOK will close before year-end.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 1:16 pm

ICD

Independence Contract (NYSE:ICD) reported Q2 losses of $(0.07) per share, beating the analyst consensus estimate of $(0.26) by 73.08%. However, the company's quarterly sales of $56.36 million missed the analyst consensus estimate of $57.60 million by 2.16%. This represents a 33.19% increase in sales compared to the same period last year.

Portfolio Pulse from bharat@benzinga.com

August 04, 2023 | 1:16 pm

DCO

Ducommun (NYSE:DCO) reported Q2 earnings of $0.54 per share, beating the analyst consensus estimate of $0.51 by 5.88%. However, this is a 28.95% decrease from the same period last year. The company's quarterly sales were $187.32 million, missing the analyst consensus estimate of $188.14 million by 0.44%, but showing a 7.53% increase from the same period last year.

Portfolio Pulse from bharat@benzinga.com

August 04, 2023 | 1:16 pm

BMRA

W

WBD

CVS Health will start selling Biomerica's EZ Detect Colorectal Disease Screening Test nationwide, boosting Biomerica's stock by 62%. Warner Bros. Discovery's Q2 earnings per share (EPS) and sales missed estimates, leading to a 6.7% stock drop. Wayfair's Q2 adjusted EPS and sales beat estimates, resulting in a 14.7% stock increase.

Portfolio Pulse from ryanfaloona@benzinga.com

August 04, 2023 | 1:16 pm

AMZN

Amazon.com, Inc. (NASDAQ:AMZN) is expected to report its Q2 financial results on Aug. 3, 2023, with analysts predicting a quarterly earnings of 34 cents per share, compared to a loss of 20 cents per share a year ago. The company's revenue is projected to be $131.54 billion. Amazon's shares fell 2.6% to close at $128.21 on Wednesday. Several analysts have recently updated their price targets for Amazon, with the highest being $155.

Portfolio Pulse from Lisa Levin

August 04, 2023 | 1:16 pm

WBD

Warner Bros Discovery's CFO has announced during a conference call that the company expects its networks' ad revenue to decrease in the high single-digit range during H2, which is worse than their prior forecast.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 1:16 pm

MDU

MDU Resources Gr (NYSE:MDU) reported Q2 earnings of $0.64 per share, beating the analyst consensus estimate of $0.35 by 82.86%. This represents an 82.86% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 1:16 pm

LCUT

Lifetime Brands has reaffirmed its FY23 sales forecast of $660M-$720M, significantly higher than the consensus estimate of $529.73M. The company also expects its adjusted EPS to be between $0.53 and $0.64, compared to the consensus estimate of $0.42.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 1:15 pm

PRTK

Paratek Pharmaceuticals' Q2 FY23 total revenue was $40M, surpassing the consensus of $33.85M and the prior year's $29.6M.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 1:15 pm

IDCC

InterDigital (NASDAQ:IDCC) reported Q2 earnings of $0.79 per share, beating the analyst consensus estimate of $0.68 by 16.18%. However, this is a 16.84% decrease from the same period last year. The company's quarterly sales were $101.60 million, missing the analyst consensus estimate of $102.39 million by 0.77%. This represents an 18.50% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 1:15 pm