Streetbeat News

Earnings

NFLX

Netflix Inc (NASDAQ:NFLX) shares are trading lower after the company reported mixed Q2 results and issued soft revenue guidance. Q2 revenue of $8.19 billion missed estimates of $8.29 billion, while Q2 EPS of $3.29 beat estimates of $2.85. The company ended the quarter with 238.39 million global paid subscribers, up 8% YoY. For Q3, Netflix anticipates revenue of approximately $8.52 billion versus estimates of $8.68 billion. Despite some weak spots, several analysts raised price targets.

Portfolio Pulse from Adam Eckert

July 20, 2023 | 1:04 pm

BSVN

Bank7 reported Q2 earnings of $1.05 per share, beating the analyst consensus estimate of $0.96 by 9.38%. This represents a 38.16% increase over earnings of $0.76 per share from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 1:03 pm

JNJ

KVUE

Kenvue Inc, the former consumer unit of Johnson & Johnson, reported its first quarterly earnings since being spun off in May. Q2 sales increased 5.4% Y/Y to $4.01 billion, beating the consensus of $3.96 billion. The company also declared a $0.20 cash dividend and issued an upbeat outlook for fiscal 2023. However, KVUE shares are down 1.36% in premarket trading.

Portfolio Pulse from Vandana Singh

July 20, 2023 | 1:01 pm

BX

Blackstone Inc (NYSE:BX) reported a 43% Y/Y drop in Q2 revenues to $2.35 billion, missing the consensus of $2.41 billion. Distributable earnings fell 43% Y/Y to $1.35 billion, largely due to a 64% decline in DE from the real estate business. However, the company hit a milestone of $1 trillion in assets under management, a 6% Y/Y increase. Blackstone also declared a quarterly dividend per share of $0.79 and repurchased $1.2 billion worth of stock.

Portfolio Pulse from Anusuya Lahiri

July 20, 2023 | 1:01 pm

C

CCI

MS

SF

On CNBC's 'Halftime Report Final Trades', analysts recommended Stifel Financial Corp., Morgan Stanley, Citigroup Inc., and Crown Castle Inc. Stifel recently signed a seven-year agreement with St. Louis Cardinals. Morgan Stanley and Citigroup reported better-than-expected Q2 financial results. Crown Castle reported an increase in earnings for Q2 and has a 5.5% yield.

Portfolio Pulse from Lisa Levin

July 20, 2023 | 1:01 pm

AAL

American Airlines Group Inc (NASDAQ:AAL) reported Q2 FY23 operating revenue growth of 4.7% YoY to $14.10 billion, beating the consensus of $13.74 billion. The company's Q1 adjusted EPS of $1.92 also exceeded the consensus of $1.58. Despite a decline in cargo revenues, passenger revenues rose 6.2% YoY to $12.98 billion. Operating expenses for the quarter declined by 4.1% YoY to $11.89 billion. The company raised its FY23 adjusted EPS outlook to $3.00-$3.75 from the prior view of $2.50-$3.50. However, AAL shares traded lower by 1.61% at $18.30 premarket on Thursday.

Portfolio Pulse from Akanksha Bakshi

July 20, 2023 | 12:57 pm

CSX

CSX Corporation is expected to report a slight decline in its Q2 earnings, with analysts predicting earnings of 49 cents per share, down from 50 cents per share a year ago. The company's revenue is expected to be around $3.73 billion. Several analysts have recently upgraded their ratings and price targets for CSX, with most seeing an upside potential in the company's stock.

Portfolio Pulse from Lisa Levin

July 20, 2023 | 12:55 pm

UAL

United Airlines CEO Scott Kirby discussed the company's Q2 earnings on CNBC. The earnings were reported on July 19, 2023.

Portfolio Pulse from Happy Mohamed

July 20, 2023 | 12:52 pm

GLD

NFLX

TSLA

UUP

The number of Americans applying for unemployment benefits was lower than anticipated last week, indicating the strength of the U.S. labor market. However, investors expect the Federal Reserve to conclude its tightening cycle after hiking for the last time next week. Futures on the S&P 500 Index and the Nasdaq 100 Index were in the red due to disappointing earnings reports from Tesla Inc. and Netflix Inc. The U.S. dollar index, tracked by the Invesco DB USD Index Bullish Fund ETF, was 0.2% higher, while gold, tracked by the SPDR Gold Trust, ticked 0.1% lower.

Portfolio Pulse from Piero Cingari

July 20, 2023 | 12:49 pm

PM

Philip Morris International Inc (NYSE:PM) reported Q2 FY23 sales growth of 14.5% year-on-year to $8.97 billion, beating the analyst consensus of $8.65 billion. The company's cigarette and Heated Tobacco unit (HTU) shipment volume grew by 3.3% Y/Y, with HTUs growing by 26.6% and cigarettes declining by 0.4%. Revenue from smoke-free products increased 34.1% Y/Y to $3.2 billion. The company revised its FY23 adjusted EPS outlook from $6.10 - $6.22 to $6.13 - $6.22.

Portfolio Pulse from Shivani Kumaresan

July 20, 2023 | 12:47 pm