Streetbeat News

Earnings

Brunswick Corporation (BC) has announced that its Q2 preliminary results are below initial expectations due to the impacts of a recent IT security incident that was disclosed in June.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2023 | 10:34 am

CVNA

Carvana, an online used car retailer, has announced that it expects to report positive adjusted EBITDA for Q3.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2023 | 10:34 am

CVNA

Carvana reported Q2 sales of $2.97 billion, beating the analyst consensus estimate of $2.59 billion by 14.59 percent. However, this represents a 23.58 percent decrease compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2023 | 10:33 am

Brunswick Corporation has reported preliminary Q2 revenue of $1.7 billion, which is below the consensus estimate of $1.84 billion. The company's adjusted EPS is also lower than expected, at $2.30-$2.35 compared to the consensus of $2.68.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2023 | 10:33 am

MTB

M&T Bank reported Q2 earnings of $5.12 per share, beating the analyst consensus estimate of $4.11 by 24.57%. This is a 65.16% increase from the same period last year. The company also reported quarterly sales of $2.60 billion, beating the analyst consensus estimate of $2.39 billion by 8.87%. This is a 31.22% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2023 | 10:29 am

BAC

BKR

CVNA

HAL

MSFT

NDAQ

NFLX

NTRS

NVDA

QQQ

SPY

TSLA

USB

The stock market is expected to start cautiously on Wednesday, with earnings likely to be the main driver. Stocks such as Nvidia Corp. (NYSE:NVDA), Microsoft Corp. (NASDAQ:MSFT), Morgan Stanley (NYSE:MS), and Bank of America Corp. (NYSE:BAC) have been gaining momentum. The Dow Industrials is on a seven-session winning streak, and the Nasdaq Composite and the S&P 500 indices have risen to over 15-month highs. Analysts suggest that earnings need to perform well to sustain the rally. In premarket trading, the SPDR S&P 500 ETF Trust (NYSE:SPY) rose 0.08% and the Invesco QQQ ETF (NASDAQ:QQQ) gained 0.24%. Companies such as Baker Hughes Co. (NASDAQ:BKR), Carvana Co. (NASDAQ:CVNA), Goldman Sachs Group, Inc. (NYSE:GS), Halliburton Co. (NYSE:HAL), Nasdaq, Inc. (NASDAQ:NDAQ), Northern Trust Corp. (NASDAQ:NTRS), U.S. Bancorp. (NYSE:USB), Netflix, Inc. (NASDAQ:NFLX), and Tesla, Inc. (NASDAQ:TSLA) are set to report their earnings.

Portfolio Pulse from Shanthi Rexaline

July 19, 2023 | 10:23 am

CFG

Citizens Financial Group (NYSE:CFG) reported Q2 adjusted earnings of $1.04 per share, beating the analyst consensus estimate of $1.01 by 2.97%. However, this is an 8.77% decrease from the same period last year. The company's quarterly sales were $2.09 billion, missing the analyst consensus estimate of $2.10 billion by 0.29%, but showing a 4.75% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2023 | 10:23 am

ASML

ASML Holding NV reported a 27% YoY increase in Q2 FY23 net sales to $7.52 billion, beating the consensus of $7.51 billion. The company's Q2 net bookings were €4.50 billion, down from €8.46 billion a year ago. ASML declared an interim dividend of €1.45 per share, payable on August 10. The company also purchased around €500 million worth of shares under the 2022-2025 share buyback program. ASML expects strong growth for 2023, with a net sales increase towards 30% and a slight improvement in gross margin.

Portfolio Pulse from Anusuya Lahiri

July 19, 2023 | 10:18 am

ELV

Elevance Health has increased its FY23 adjusted EPS guidance to more than $32.85, up from the previous guidance of over $32.70 and above the consensus of $32.78.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2023 | 10:14 am

MTB

M&T Bank reported Q2 earnings of $5.12 per share, beating the analyst consensus estimate of $4.11 by 24.57%. This is a 65.16% increase from the same period last year. The company also reported quarterly sales of $2.45 billion, beating the analyst consensus estimate of $2.39 billion by 2.59%. This is a 23.65% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2023 | 10:10 am