Streetbeat News

Earnings

GOOG

GOOGL

MSFT

Alphabet, Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG) reported better than expected Q2 results, driven by strong performance in its cloud business and ad revenue recovery. KeyBanc Capital Markets analyst Justin Patterson maintained an Overweight rating and raised the price target from $140 to $145. Google Cloud's revenue growth was 28%, exceeding KeyBanc's 5% growth forecast. Alphabet's AI capabilities were also highlighted as a potential driver for future growth. Alphabet shares ended Tuesday's regular session up 0.56% at $122.21 and climbed an additional 6.08% in the after-hours session.

Portfolio Pulse from Shanthi Rexaline

July 26, 2023 | 5:54 am

VIV

Telefonica Brasil (NYSE:VIV) reported Q2 earnings of $0.14 per share, beating the analyst consensus estimate of $0.10 by 37%. This is a 45.74% increase from the same period last year. The company also reported quarterly sales of $2.57 billion, beating the analyst consensus estimate of $2.45 billion by 4.90%. This is a 12.33% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 5:48 am

TSBK

Timberland Bancorp (NASDAQ:TSBK) reported Q3 earnings of $0.77 per share, up 11.59% YoY. The company also reported sales of $19.51 million, a 14.20% increase YoY.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 5:39 am

EQNR

Equinor expects its FY23 production to increase by approximately 3% YoY, with an estimated organic capital expenditure of $10B-$11B. The company aims to keep the unit of production cost in the top quartile of its peer group. Maintenance activity is expected to reduce equity production by around 45 mboe per day for the full year of 2023.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 5:28 am

EQNR

Equinor (NYSE:EQNR) reported Q2 earnings of $0.73 per share, a 52.95% decrease YoY. The company also reported $23.13 billion in sales, a 36.31% decrease YoY.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 5:14 am

NVDA

Despite Nvidia's share price tripling this year, the company faces risks due to the capital-intensive nature of chip production and limited output. Asian chipmakers, who manufacture all of Nvidia’s chips, have reported their lowest earnings in years. The production of high-end chips is capped due to the high cost of building a chip fabrication facility and the need for continual upgrades. Furthermore, AI chips, which are expected to drive unprecedented demand, will only make up a small part of the total sales for chip manufacturers.

Portfolio Pulse from Benzinga Neuro

July 26, 2023 | 4:17 am

AMZN

GOOG

MSFT

SNAP

TSLA

US stocks ended in the green on Tuesday, with Microsoft, Amazon, Alphabet, Tesla, and Snap being the top trending stocks. Microsoft reported a Q4 revenue of $56.2 billion, up 8% YoY, beating estimates. Amazon saw a slight increase of 0.26% after reducing the purchase consideration for Roomba maker’s takeover by 15%. Alphabet reported a Q2 revenue of $74.604 billion, a 7% increase YoY, beating estimates. Tesla's stock fell by 1.40% after CEO Elon Musk announced preliminary talks with a major automaker to license its Full Self-Driving technology. Snap reported a Q2 revenue of $1.07 billion, down 4% YoY, but ahead of estimates.

Portfolio Pulse from Benzinga Neuro

July 26, 2023 | 1:59 am

Visa's CFO has projected a revenue growth of approximately 10% for Q4 during an analyst call.

Portfolio Pulse from Charles Gross

July 25, 2023 | 9:33 pm

BANC

FPAY

LGHL

PACW

RILY

WAL

Several financial stocks experienced significant movement in Tuesday's after-market session. Notable gainers included PacWest Banc (PACW), Banc of California (BANC), and Western Alliance (WAL), while notable losers included FlexShopper (FPAY), B. Riley Financial (RILY), and Lion Group Holding (LGHL). Q2 earnings reports were released for PACW and BANC.

Portfolio Pulse from Benzinga Insights

July 25, 2023 | 9:32 pm

BANC

PACW

Banc of California, Inc. (BANC) and PacWest Bancorp (PACW) have announced a merger, with PacWest merging into Banc of California. The all-stock merger transaction is expected to position the business banking franchise to take advantage of market opportunities and expand its product offerings. The merger announcement coincided with the companies' respective earnings reports, with both beating analyst consensus estimates for earnings per share.

Portfolio Pulse from Ryan Gustafson

July 25, 2023 | 9:32 pm