Streetbeat News

Earnings

AMZN

HSIC

NVDA

SAGE

The S&P 500 ended its four-session losing streak on Monday, with the majority of sectors closing positively. Henry Schein Inc reported better-than-expected Q2 earnings, while Sage Therapeutics Inc shares fell by 54% after the FDA issued a Complete Response Letter for one of its New Drug Applications. The Nasdaq 100 rose by 0.87%, with gains in shares of Amazon.com, Inc. and NVIDIA Corp. The CBOE Volatility Index fell by 7.8%.

Portfolio Pulse from Lisa Levin

August 08, 2023 | 9:56 am

IFF

Intl Flavors & Fragrances (IFF) reported disappointing Q2 results and lowered its FY23 outlook, leading to a drop in its share price.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 9:11 am

AYX

Alteryx's shares have dropped following the company's Q2 results and weak Q3 revenue guidance. Piper Sandler has downgraded the company to Neutral from Overweight and reduced the price target to $30 from $68.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 8:41 am

Li Auto expects Q3 2023 revenue to be between $4.46B and $4.59B, up from the estimated $3.9B. The company also anticipates vehicle deliveries to range from 100,000 to 103,000, marking a YoY increase of 277.0% to 288.3%.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 8:35 am

Li Auto reported Q2 earnings of $0.18 per share, beating the analyst consensus estimate of $0.12 by 50%. The company also reported quarterly sales of $3.95 billion, surpassing the analyst consensus estimate of $3.81 billion by 3.71%. This represents a 1000% increase in earnings and a 203.02% increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 8:32 am

BYND

LLY

PARA

TTWO

UPS

United Parcel Service (UPS), Paramount Global (PARA), Take-Two Interactive Software (TTWO), Beyond Meat (BYND), and Eli Lilly (LLY) are expected to be in focus for investors. UPS is expected to post earnings of $2.50 per share on revenue of $23.11 billion. Paramount Global reported better-than-expected Q2 results and announced the sale of Simon & Schuster to KKR for $1.62 billion. Take-Two Interactive is expected to report earnings of 37 cents per share on revenue of $1.21 billion. Beyond Meat reported disappointing Q2 results and issued a weak revenue forecast for FY23. Eli Lilly is expected to report earnings of $1.99 per share on revenue of $7.58 billion.

Portfolio Pulse from Lisa Levin

August 08, 2023 | 8:18 am

FOXA

Fox Corporation (NASDAQ:FOXA) is expected to report lower Q2 earnings at 72 cents per share, down from 74 cents per share a year ago. The company's revenue is projected to be $3.03 billion. Fox shares rose 0.1% to close at $33.08 on Monday. Several analysts have recently adjusted their price targets for the company, with the most accurate analysts maintaining neutral ratings and price targets ranging from $35 to $37.

Portfolio Pulse from Lisa Levin

August 08, 2023 | 7:32 am

CPB

LLY

TSN

TTWO

UPS

The CNN Money Fear and Greed index showed an improvement in overall sentiment among U.S. investors on Monday. The Dow Jones added more than 400 points, while the S&P 500 and Nasdaq Composite also rose. Tyson Foods' shares fell 3.8% after reporting worse-than-expected Q3 results. Campbell Soup agreed to acquire Sovos Brands for $23 per share. Investors are awaiting earnings results from United Parcel Service, Take-Two Interactive Software, and Eli Lilly and Company.

Portfolio Pulse from Lisa Levin

August 08, 2023 | 7:06 am

BAYRY

BAYZF

Bayer has lowered its FY23 outlook due to a significant decline in sales of glyphosate-based products. The company now expects sales of €48.5B-€49.5B, down from the previous forecast of €51B-€52B. Core earnings per share are also expected to decrease from €7.20-€7.40 to €6.20-€6.40.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 7:00 am

BAYRY

Bayer (OTC:BAYRY) reported Q2 earnings of $0.33 per share, beating the analyst consensus estimate of $0.31 by 7.1%. However, this is a 34.9% decrease from the same period last year. The company's quarterly sales of $12.04 billion missed the analyst consensus estimate of $12.56 billion by 4.14%, marking an 11.87% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 6:52 am