Streetbeat News

Earnings

NEM

Newmont Corp (NYSE:NEM) reported a 12% Y/Y decline in Q2 2023 revenues to $2.68 billion, missing the consensus of $3.88 billion due to lower gold and silver sales volumes. Gold production declined 17% Y/Y, and costs rose. Adjusted EPS of $0.33 significantly missed the consensus of $0.58. The company reiterated its 2023 outlook and declared a dividend of $0.40 per share. NEM shares are trading lower by 4.01% premarket.

Portfolio Pulse from Lekha Gupta

July 20, 2023 | 1:28 pm

DHI

D R Horton Inc's executive has projected consolidated revenues of $9.7B to $10.1B for Q4 during a conference call.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 1:21 pm

EWBC

East West Bancorp (NASDAQ:EWBC) reported Q2 earnings of $2.20 per share, beating the analyst consensus estimate of $2.14 by 2.8%. This is a 21.55% increase from the same period last year. However, the company's quarterly sales of $566.75 million missed the analyst consensus estimate of $599.45 million by 5.46%, despite being a 19.83% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 1:20 pm

TURN

180 Degree Capital Corp. (NASDAQ:TURN) reported a preliminary net asset value per share of $6.22, a -1.6% YTD, and liquid public securities and cash of 87% of net assets as of June 30, 2023. The company's underperformance in Q2 2023 was due to declines in value of certain holdings, including Intevac, Inc. (IVAC) and Comscore, Inc. (SCOR). However, strength in holdings of Commercial Vehicle Group, Inc. (CVGI) and Potbelly Corporation (PBPB), and renewed interest in D-Wave Quantum, Inc. (QBTS) were not enough to offset the declines. The company believes that its stock does not reflect the appropriate value of the company and its holdings.

Portfolio Pulse from Happy Mohamed

July 20, 2023 | 1:16 pm

ABT

Abbott Laboratories (NYSE:ABT) reported Q2 FY23 adjusted EPS of $1.08, down 25% Y/Y, beating the consensus of $1.05. Q2 sales of $9.97 billion decreased 11.4%, beating the consensus of $9.70 billion. Organic sales growth for the underlying base business was 11.5%, led by Medical Devices, Established Pharmaceuticals, and Nutrition. The company reaffirmed its FY23 outlook, projecting organic sales growth in the low double-digits and COVID-19 testing-related sales of approximately $1.3 billion.

Portfolio Pulse from Vandana Singh

July 20, 2023 | 1:15 pm

BSVN

Bank7 reported Q2 earnings of $1.05 per share, beating the analyst consensus estimate of $0.96 by 9.38%. This is a 38.16% increase from the same period last year. The company also reported quarterly sales of $21.29 million, beating the analyst consensus estimate of $20.69 million by 2.91%. This is a 29.21% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 1:10 pm

BSVN

Bank7 reported Q2 earnings of $1.05 per share, beating the analyst consensus estimate of $0.96 by 9.38%. This is a 38.16% increase from the same period last year. The company also reported quarterly sales of $30.00 million, beating the analyst consensus estimate of $20.69 million by 45.00%. This is an 82.05% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 1:08 pm

SMCI

Supermicro (NASDAQ:SMCI) has announced preliminary financial results for Q4 2023, with expected EPS of $3.35-$3.45, up from the prior estimate of $2.21-$2.71, and revenue of $2.15B-$2.18B, up from the prior estimate of $1.7B-$1.9B. The company has experienced record design wins, orders, and a fast-growing backlog. The final results may differ materially from these preliminary results.

Portfolio Pulse from Happy Mohamed

July 20, 2023 | 1:08 pm

CCOI

IPG

YY

Three high-yielding dividend stocks in the tech and telecom sector have been highlighted by Wall Street's most accurate analysts. The stocks are The Interpublic Group of Companies, Inc. (IPG), Cogent Communications Holdings, Inc. (CCOI), and JOYY Inc. (YY). IPG has a dividend yield of 3.03%, CCOI has a yield of 5.95%, and YY has a yield of 6.16%. Recent news for these companies includes better-than-expected earnings for IPG and YY, while CCOI posted weaker-than-expected first-quarter results.

Portfolio Pulse from Lisa Levin

July 20, 2023 | 1:08 pm

FITB

Fifth Third Bancorp reported Q2 2023 sales of $2.19 billion, in line with consensus. The company saw a 62% Y/Y increase in interest income to $2.38 billion, and a 9% Y/Y increase in net interest income to $1.46 billion. The net interest margin rose 18 basis points to 3.10%. The company also reported a 1% Y/Y decrease in total average deposits to $160.86 billion, and a 3% Y/Y increase in average loans and leases to $123.99 billion. Adjusted EPS of $0.87 topped the Street view of $0.83. The company also acquired Rize Money to boost its embedded payments capabilities.

Portfolio Pulse from Lekha Gupta

July 20, 2023 | 1:07 pm