Streetbeat News

Earnings

ACI

Albertsons Companies, Inc. (NYSE:ACI) reported Q1 net sales of $24.05 billion, beating the analyst consensus of $23.95 billion. Sales rose 3.17% Y/Y. Adjusted EPS was $0.93, beating the street view of $0.85. The company expects a $130 million headwind to Adjusted EBITDA for the remaining three quarters of fiscal 2023 due to a decline in providing COVID-19 vaccinations and at-home test kits.

Portfolio Pulse from Nabaparna Bhattacharya

July 25, 2023 | 3:50 pm

LVMHF

Moet Hennessy Louis Vuitton (LVMHF) reported Q2 revenue of €21.21B, up 17% organically, and H1 net income group share of €8.48B, up 30%. The H1 recurring operating margin was at 27.4% of sales. However, Hennessy was impacted by the economic situation in the U.S. and destocking. Sephora's dynamics were strong.

Portfolio Pulse from Happy Mohamed

July 25, 2023 | 3:48 pm

ALK

Alaska Air Group, Inc (NYSE:ALK) shares are down after the company's Q3 outlook anticipates 0%-3% topline growth. Despite beating Q2 consensus with a 7% YoY operating revenue growth and an adjusted EPS of $3.00, the company's shares are trading lower by 12%. The company also reported an increase in operating expenses and a contraction in load factor. ALK repurchased shares worth $39 million in Q2 and expects to repurchase at least $100 million in FY23.

Portfolio Pulse from Akanksha Bakshi

July 25, 2023 | 3:43 pm

GM

NFLX

TSLA

Earnings expectations for Q2 2023 are making a slight comeback, with many companies, particularly in tech, seeing upside revisions. However, the strategy of selling calls to hedge earnings reports has been prevalent, leading to clear earnings price targets. This has been observed in the cases of Tesla, Netflix, and General Motors, where despite positive earnings, the price drops after an initial surge due to the 'sold call' hedging method.

Portfolio Pulse from Jason DeLorenzo

July 25, 2023 | 3:26 pm

RTX

RTX Corporation reported Q2 FY23 sales growth of 12% YoY to $18.32 billion, beating the consensus of $17.68 billion. Adjusted EPS improved 11% YoY to $1.29, beating the consensus of $1.18. The company repurchased $596 million of RTX shares. However, RTX shares are trading down by 13.75% at $83.67 due to a rare condition in powder metal used to manufacture certain engine parts that will require accelerated fleet inspection.

Portfolio Pulse from Akanksha Bakshi

July 25, 2023 | 3:21 pm

MLI

Mueller Industries (NYSE:MLI) reported Q2 earnings of $3.12 per share, beating the analyst consensus estimate of $2.40 by 30 percent. However, this is a 14.52 percent decrease from the same period last year. The company's quarterly sales of $896.98 million missed the analyst consensus estimate of $1.03 billion by 12.91 percent, marking a 22.00 percent decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 3:17 pm

IRDM

Iridium Communications reported worse-than-expected Q2 financial results, causing its shares to trade lower. However, the company reaffirmed its FY23 guidance.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 3:12 pm

ALK

Alaska Air Group has reported its Q2 financial results and issued guidance for Q3 and FY23. Following the announcement, the company's shares are trading lower.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 3:12 pm

LOGI

Logitech International reported better-than-expected Q1 EPS results and raised its H1 2024 guidance, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 3:11 pm

AAPL

DIA

GM

The Dow Jones Industrial Average has seen a significant rise in July, largely due to a rush to buy lagging stocks. This trend is not typically sustainable. The 'magnificent seven' stocks, including Apple, Amazon, Alphabet, Meta Platforms, Microsoft, NVIDIA, and Tesla, are showing strength. General Motors and General Electric have raised their profit targets and Q2 earnings have beaten consensus. Sherwin-Williams reported strong earnings due to high demand for paint. Chinese market rally and potential stimulus are positively impacting the U.S. market. Investors are awaiting earnings from Microsoft and Alphabet.

Portfolio Pulse from The Arora Report

July 25, 2023 | 3:11 pm