Streetbeat News

Earnings

ALLY

Ally Financial Inc (ALLY) reported mixed Q2 2023 earnings with revenues of $2.066 billion, missing the consensus of $2.090 billion, and adjusted EPS of $0.96, beating the consensus of $0.92. Several analysts adjusted their price targets and EPS estimates for the company. ALLY shares are trading lower by 2.55% at $28.91.

Portfolio Pulse from Lekha Gupta

July 20, 2023 | 6:42 pm

SEDG

Shares of Solaredge Technologies Inc (NASDAQ:SEDG) are trading lower by 4.34% due to weak third-quarter and 2023 guidance issued by Taiwan Semiconductor. This could indicate constraints in the semiconductor industry, potentially affecting SolarEdge's ability to source necessary components for its products, leading to production delays or increased costs.

Portfolio Pulse from Henry Khederian

July 20, 2023 | 6:36 pm

AMAT

Shares of Applied Materials, Inc. (NASDAQ:AMAT) are trading lower by 4.68% due to weak third-quarter and 2023 guidance issued by Taiwan Semiconductor. Applied Materials, a supplier of semiconductor manufacturing equipment, relies on semiconductor companies like TSM for business. A disappointing TSM earnings could indicate weaker demand for semiconductor manufacturing services, potentially impacting Applied Materials' revenue and profitability.

Portfolio Pulse from Henry Khederian

July 20, 2023 | 6:32 pm

AAPL

GOOG

GOOGL

IBM

MSFT

NVDA

IBM has reported its Q2 earnings, beating the Street estimate with earnings of $2.18 per share. However, revenue figures slightly missed the mark, coming in at $15.47 billion against a $15.57 billion consensus estimate. The company also announced the launch of its new AI platform, watsonx AI, which is expected to compete with other tech giants like OpenAI, Microsoft, Apple, Nvidia, and Alphabet. IBM's clients, including Samsung, Citigroup, NatWest Group, and SAP, are already exploring the benefits of the new platform.

Portfolio Pulse from AJ Fabino

July 20, 2023 | 6:22 pm

TSLA

WKSP

Tesla Inc (NASDAQ:TSLA) posted an all-time high quarterly revenue but price cuts and incentives thinned its margins. Worksport Ltd (NASDAQ:WKSP) announced the completion of its first assembly line, with production to start in three weeks. Tesla's Q2 revenue was $24.93 billion, with operating margin at 9.6%, the lowest in the last five quarters. Tesla's core EV business expanded 46% YoY to $21.27 billion. Tesla shares rose 136% year to Wednesday’s close.

Portfolio Pulse from Upwallstreet

July 20, 2023 | 6:15 pm

BABA

A significant amount of unusual options activity has been observed for Alibaba Group Holding (NYSE:BABA), with a bearish stance being taken by a majority of investors. The price range targeted by these investors over the last 3 months is from $35.0 to $180.0. Several financial institutions have downgraded their ratings for Alibaba, with price targets ranging from $98 to $180. The company's next earnings report is expected in 14 days.

Portfolio Pulse from Benzinga Insights

July 20, 2023 | 6:02 pm

UCBI

United Community Banks, Inc. (UCBI) missed Q2 earnings estimates, reporting adjusted earnings of $0.55 against the consensus of $0.61. However, Stephens analyst Russell Gunther reiterated an Overweight rating and raised the price target to $33 from $31, citing better-than-expected non-interest expense run-rate, mid-single-digit organic loan growth, and future M&A integration as positive factors. Gunther lowered FY23 and FY24 Op. EPS estimates due to the Q2 miss and a lower NII outlook.

Portfolio Pulse from Nabaparna Bhattacharya

July 20, 2023 | 5:50 pm

TSLA

Tesla Inc's stock plunged over 8% following its Q2 earnings release, despite beating expectations. Analysts from four firms raised their price targets for the stock. Baird analyst Ben Kallo maintains Tesla as a “Best Pick” for the second half of 2023, noting the company's declining margins. Despite the sell-off, the stock's uptrend has not been negated, and the downturn occurred on lower-than-average volume, suggesting bullish control.

Portfolio Pulse from Melanie Schaffer

July 20, 2023 | 5:40 pm

NFLX

TSLA

Tech stocks are trading lower due to weak quarterly reports from Netflix and Tesla. This has affected the overall tech sector.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 5:37 pm

ANGH

FYBR

NFLX

During Thursday's intraday session, several communication services stocks experienced significant movements. Anghami, Frontier Communications, FingerMotion, Glory Star New Media Gr, Spark Networks, and Liberty TripAdvisor Hldgs saw gains, while Antelope Ent Hldgs, Sify Technologies, Cardlytics, Kore Group Holdings, Fangdd Network Group, and Netflix experienced losses. Factors influencing these movements include recent earnings reports and trading volumes.

Portfolio Pulse from Benzinga Insights

July 20, 2023 | 5:31 pm