Streetbeat News

Earnings

AMZN

MSFT

SNAP

The S&P 500 closed slightly lower while the Dow Jones recorded gains for the 13th straight session. The Fed raised its benchmark overnight interest rate by 25 basis points. Microsoft Corporation shares fell 3.8% after issuing guidance below estimates. Snap Inc. shares fell over 14% after reporting Q3 results. The Nasdaq 100 fell 0.40% amid losses in shares of Microsoft and Amazon.com. The CBOE Volatility Index fell 5.8%.

Portfolio Pulse from Lisa Levin

July 27, 2023 | 9:55 am

AAPL

META

During Meta Platforms Inc.’s second-quarter earnings call, CEO Mark Zuckerberg announced that Quest 3 would be the first mainstream accessible VR device. The headset will feature improved displays, resolution, and a next-gen Qualcomm chipset. Despite competition from Apple Inc., Zuckerberg believes Quest 3 will be the primary beneficiary of the growing demand for mixed reality devices. The CFO of Meta also revealed a 39% decline in Q2 revenue for Reality Labs due to lower Quest 2 sales.

Portfolio Pulse from Ananya Gairola

July 27, 2023 | 9:46 am

BCS

Barclays shares are trading lower following the release of the company's Q2 2023 results.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 9:42 am

TTE

TotalEnergies SE (NYSE:TTE) reported Q2 2023 revenues of $56.3 billion, down 25% Y/Y, beating the consensus of $53.1 billion. Hydrocarbon production fell 10% Y/Y, with declines in Exploration & Production and Integrated LNG businesses. Adjusted net operating income fell 47% Y/Y to $5.6 billion. The company declared Q2 interim dividend per share of €0.74, up 7.25% Y/Y and authorized a share repurchase of $2 billion in Q3 2023. For Q3 2023, the company anticipates hydrocarbon production of around 2.5 Mboe/d.

Portfolio Pulse from Lekha Gupta

July 27, 2023 | 9:42 am

ATHM

Autohome reported Q2 adjusted earnings of $0.64 per share, beating the analyst consensus estimate of $0.57 by 12.28%. This is a 14.29% increase from the same period last year. The company also reported quarterly sales of $252.80 million, beating the analyst consensus estimate of $249.51 million by 1.32%, but a 2.29% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 9:32 am

TAL

TAL Education (NYSE:TAL) reported Q1 adjusted EPADS of $(0.03), unchanged YoY. The company's quarterly sales were $275.40 million, beating the analyst consensus estimate of $265.05 million by 3.90 percent. This represents a 22.92 percent increase over sales of $224.04 million in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 9:01 am

BA

BMY

F

GOOGL

MCD

The Federal Reserve has raised the federal funds rate by 0.25% to 5.25%-5.5%, the highest level since February 2001. This has led to a decline in overall investor sentiment, as indicated by the CNN Money Fear and Greed index. Despite this, the Dow Jones closed higher, recording its longest winning streak since 1987. Alphabet Inc. and The Boeing Company reported better-than-expected quarterly results, leading to a rise in their share prices. Investors are now awaiting earnings results from McDonald's Corporation, Ford Motor Company, and Bristol-Myers Squibb Company.

Portfolio Pulse from Lisa Levin

July 27, 2023 | 7:59 am

BMY

EBAY

F

MCD

META

McDonald's, Meta Platforms, Ford Motor Company, eBay, and Bristol-Myers Squibb are the stocks to watch heading into Thursday. McDonald's and Bristol-Myers Squibb are expected to post their quarterly earnings before the opening bell. Meta Platforms and eBay reported better-than-expected Q2 results, while Ford is expected to release its earnings after the markets close.

Portfolio Pulse from Lisa Levin

July 27, 2023 | 7:48 am

BCS

Barclays (NYSE:BCS) reported Q2 earnings of $0.43 per share, a 59.26% increase YoY. The company also reported sales of $7.86 billion, a 9.95% increase YoY.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 7:44 am

TTE

TotalEnergies anticipates its Q3 hydrocarbon production to be around 2.5 million barrels of oil equivalent per day (MBOE/D), with a refineries utilization rate above 80%.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 7:43 am