Streetbeat News

Earnings

MBWM

Mercantile Bank (NASDAQ:MBWM) reported Q2 earnings of $1.27 per share, beating the analyst consensus estimate of $1.10 by 15.45%. This is a 71.62% increase from the same period last year. The company also reported quarterly sales of $55.20 million, beating the analyst consensus estimate of $51.84 million by 6.48%. This is a 31.22% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 9:02 am

NVS

Novartis reported better than expected Q2 FY23 earnings and raised its outlook, leading to a rise in its share price.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 8:46 am

MASI

Masimo Corporation reported below-consensus preliminary Q2 revenues and revised its 2023 guidance downwards, leading to a drop in its share price.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 8:43 am

BAC

LMT

MASI

MS

NVS

Bank of America, Morgan Stanley, Novartis AG, Masimo Corporation, and Lockheed Martin Corporation are the stocks to watch heading into Tuesday. Bank of America and Morgan Stanley are expected to post earnings before the opening bell. Novartis AG reported better-than-expected Q2 results and boosted its full-year earnings forecast. Masimo Corporation reported weak preliminary Q2 revenue results. Lockheed Martin is expected to report earnings before the opening bell.

Portfolio Pulse from Lisa Levin

July 18, 2023 | 8:10 am

BAC

LMT

MS

The CNN Money Fear and Greed index remains in the 'Extreme Greed' zone, indicating high market sentiment. The Dow Jones has recorded gains for six consecutive sessions, settling at its highest level in 2023. The NY Empire State Manufacturing Index fell by 5.5 points to a reading of +1.1 in July, exceeding market estimates. Traders anticipate a 97% chance of the US Federal Reserve raising interest rates later this month. Investors are awaiting earnings results from Bank of America Corporation, Morgan Stanley, and Lockheed Martin Corporation.

Portfolio Pulse from Lisa Levin

July 18, 2023 | 6:52 am

NVS

Novartis has raised its FY23 outlook, expecting its Innovative Medicines sales to grow in the high single digits, up from the previous mid-single digit growth forecast. The company also anticipates its core operating income to grow in the low double digits to mid-teens, an increase from the previous high single to low double digit growth prediction. This revised outlook is due to strong H1 momentum.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 6:11 am

NVS

Novartis (NYSE:NVS) reported Q2 earnings of $1.83 per share, beating the analyst consensus estimate of $1.66 by 10.24%. This is a 17.31% increase from the same period last year. The company also reported quarterly sales of $13.62 billion, beating the analyst consensus estimate of $13.17 billion by 3.42%. This is a 6.56% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 6:03 am

HBCP

Home Bancorp reported Q2 earnings of $1.21 per share, beating the analyst consensus estimate of $1.16 by 4.31%. This is a 17.48% increase from the same period last year. The company's quarterly Net Interest Income was $30.31 million, a 3.64% increase from last year.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2023 | 9:59 pm

NEPT

Neptune Wellness Solutions reported Q4 losses of $(2.23) per share, an improvement from $(6.51) per share in the same period last year. The company's quarterly sales of $12.15 million beat the analyst consensus estimate of $11.28 million by 7.69 percent, compared to $11.5 million in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2023 | 9:44 pm

MASI

Masimo Corporation's shares are trading lower following the company's announcement of worse-than-expected preliminary Q2 revenue results.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2023 | 8:38 pm