Streetbeat News

Earnings

GOOGL

MSFT

NVDA

TSM

Nvidia Corp (NVDA) is in focus as Microsoft Corp (MSFT) and Alphabet Inc (GOOG, GOOGL) post strong quarterly results. Both companies highlighted the role of AI in their growth. A report suggests that Nvidia and OpenAI could collaborate on an AI model that can combine millions of GPUs. Nvidia has already supplied around 20,000 of its new AI GPUs to OpenAI for further expansion. Nvidia is also working with Taiwan Semiconductor Manufacturing Company Ltd (TSM) to increase supply.

Portfolio Pulse from Anusuya Lahiri

July 26, 2023 | 2:46 pm

SNAP

Snap Inc's shares fell by 19.14% after reporting Q3 earnings. The company's revenue was $1.07 billion, down 4% YoY but ahead of the Street consensus estimate of $1.05 billion. Snap reported a loss of two cents per share, beating the Street estimate of a loss of four cents per share. Daily active users increased by 14% YoY to 397 million. Despite exceeding estimates, the decline in revenue may concern investors.

Portfolio Pulse from Henry Khederian

July 26, 2023 | 2:42 pm

GSL

NAT

NETI

PANL

UUU

Benzinga Insights has identified five value stocks in the industrials sector based on quantified analysis. These include Eneti (NYSE:NETI), Nordic American Tankers (NYSE:NAT), Universal Security (AMEX:UUU), Pangaea Logistics Solns (NASDAQ:PANL), and Global Ship Lease (NYSE:GSL). The companies have shown varying performance in terms of earnings per share and dividend yield.

Portfolio Pulse from Benzinga Insights

July 26, 2023 | 2:41 pm

ABVC

AURC

DXF

MXL

SIMO

VICR

US stocks traded mixed with Dow Jones gaining around 20 points. Coca-Cola Co reported better-than-expected earnings for its second quarter and raised its FY23 organic revenue growth outlook. Silicon Motion Technology Corporation, ABVC BioPharma, and Vicor Corporation shares rose following positive news. Dunxin Financial Holdings, Aurora Acquisition Corp., and MaxLinear shares fell.

Portfolio Pulse from Lisa Levin

July 26, 2023 | 2:39 pm

RPM

RPM International Inc. reported Q4 FY23 sales growth of 1.6% YoY to $2.016 billion, beating the consensus of $1.970 billion. Adjusted EPS of $1.36 also exceeded the consensus of $1.30. The company attributed these results to efficient operations and growth opportunities. Sales grew in North America, Latin America, Asia/Pacific, Africa, and the Middle East, but declined in Europe. The company expects Q1 sales and EBIT to increase in the low-single-digit and high-single-digit percentage range respectively. For FY24, sales and EBIT are expected to increase in the mid-single-digit and low-double-digit to mid-teen percentage range respectively.

Portfolio Pulse from Nabaparna Bhattacharya

July 26, 2023 | 2:28 pm

STLA

Stellantis reported its 1H results, showing an increase in Battery Electric Vehicle (BEV) and Low Emission Vehicle (LEV) sales. This positive news has led to a rise in the company's share price.

Portfolio Pulse from Bill Haddad

July 26, 2023 | 2:22 pm

DGX

Quest Diagnostics Inc (NYSE:DGX) reported Q2 FY23 adjusted EPS of $2.30, down 2.5% Y/Y, beating the consensus of $2.27. Sales were $2.34 billion, a decline of 4.7% Y/Y, higher than the estimate of $2.25 billion. COVID-19 testing revenues slumped 88% to $41 million, while base business revenues improved 9.5% to $2.29 billion. The company revised its FY23 revenue guidance to $9.12 billion-$9.22 billion. DGX shares are down 4.35% at $138.61.

Portfolio Pulse from Vandana Singh

July 26, 2023 | 2:21 pm

PDD

PDD Holdings has an option alert for January 19 with $120 calls at the ask price of $3.95 for 3000 shares, compared to an open interest of 6178. The company is expected to announce earnings on August 28 before the market opens. The reference price is $85.02.

Portfolio Pulse from Charles Gross

July 26, 2023 | 2:20 pm

APH

Amphenol Corporation reported better-than-expected Q2 results and issued Q3 guidance, leading to a rise in its share prices.

Portfolio Pulse from Bill Haddad

July 26, 2023 | 2:19 pm

FISV

Fiserv's shares are trading lower despite the company reporting better-than-expected Q2 results and providing an upbeat guidance.

Portfolio Pulse from Bill Haddad

July 26, 2023 | 2:18 pm