Streetbeat News

Earnings

METCB

SXC

WLK

The article discusses value stocks in the basic materials sector, highlighting five companies: Westlake (WLK), SunCoke Energy (SXC), ArcelorMittal (MT), Ramaco Resources (METCB), and Celanese (CE). All these companies have low P/E ratios, indicating they may be undervalued. The article also provides Q1 earnings per share and dividend yield data for each company.

Portfolio Pulse from Benzinga Insights

July 21, 2023 | 2:39 pm

HBAN

Huntington Bancshares Inc (NASDAQ:HBAN) reported Q2 revenues of $1.84 billion, in line with consensus. Net interest income rose 7% Y/Y to $1.35 billion. EPS of $0.35 beat the consensus of $0.34. Average loans and leases rose to $121.3 billion from $113.9 billion. Provision for credit losses rose to $92 million from $67 million the prior year. The company declared a dividend of $0.155 per common share. HBAN shares are trading lower by 1.35% at $11.69.

Portfolio Pulse from Lekha Gupta

July 21, 2023 | 2:37 pm

IPG

Interpublic Group of Companies Inc (NYSE:IPG) shares dropped by around 9% after the company reported Q2 2023 results. The company missed the consensus revenue of $2.39 billion, reporting $2.33 billion instead. Adjusted EBITA fell to $330.2 million from $370.1 million a year ago, with margins contracting to 14.2% from 15.6%. However, adjusted EPS of $0.74 exceeded the consensus of $0.60. IPG also lowered its 2023 organic revenue growth guidance to 1% to 2% from 2% to 4%.

Portfolio Pulse from Lekha Gupta

July 21, 2023 | 2:26 pm

ALV

DWAC

ETSY

EVLO

FOR

HYZN

INTR

MATX

PKX

SCHL

SFBS

SGHT

SIFY

STOK

UHG

WNS

ZTS

Several US stocks traded higher on Friday, with notable gains for Digital World Acquisition Corp. (DWAC), Evelo Biosciences (EVLO), ServisFirst Bancshares (SFBS), Scholastic Corporation (SCHL), Matson (MATX), POSCO Holdings (PKX), Sight Sciences (SGHT), Autoliv (ALV), Stoke Therapeutics (STOK), Hyzon Motors (HYZN), Inter & Co (INTR), Sify Technologies (SIFY), United Homes Group (UHG), Forestar Group (FOR), Etsy (ETSY), WNS (Holdings) (WNS), and Zoetis (ZTS). Reasons for the gains include settlements with the SEC, termination of sublease agreements, upbeat Q2 results, stock repurchase programs, and analyst upgrades.

Portfolio Pulse from Lisa Levin

July 21, 2023 | 2:23 pm

ROP

Roper Technologies reported better-than-expected Q2 financial results and issued Q3 adjusted EPS guidance. The company also raised its FY23 adjusted EPS guidance above the consensus estimate, leading to a rise in its share price.

Portfolio Pulse from Benzinga Newsdesk

July 21, 2023 | 2:19 pm

SLB

Schlumberger's Q2 revenue results were worse than expected, leading to a decrease in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

July 21, 2023 | 2:19 pm

SFBS

ServisFirst Bancshares reported better-than-expected Q2 financial results, leading to an increase in its stock price.

Portfolio Pulse from Benzinga Newsdesk

July 21, 2023 | 2:19 pm

CMA

Comerica Inc reported Q2 2023 revenues of $924 million, beating the consensus of $902.8 million. Net interest income rose to $621 million from $561 million a year ago, with net interest margin rising to 2.93% from 2.70%. EPS of $2.01 beat the consensus of $1.86. Average loans increased to $55.4 billion from $50.0 billion on broad-based growth in most lines of business. However, average deposits declined to $64.3 billion from $77.6 billion on lower noninterest-bearing deposits. Despite the positive report, CMA shares are trading lower by 1.44% at $52.17.

Portfolio Pulse from Lekha Gupta

July 21, 2023 | 2:11 pm

MCBS

MetroCity Bankshares reported Q2 earnings of $0.51 per share, beating the analyst consensus estimate of $0.50 by 2 percent. However, this represents a 19.05 percent decrease from the same period last year.

Portfolio Pulse from Happy Mohamed

July 21, 2023 | 2:04 pm

LKFN

Lakeland Financial (NASDAQ:LKFN) reported a 43% decrease in quarterly earnings, with earnings per share (EPS) of $0.57, down from $1.00 YoY.

Portfolio Pulse from Happy Mohamed

July 21, 2023 | 2:03 pm