Streetbeat News

Earnings

TSLA

Tesla, Inc. (NASDAQ:TSLA) shares rose in premarket trading on Monday, potentially extending its winning streak to a fifth straight session. This is due to investor optimism following the company's confirmation that the first Cybertruck has rolled off the production line at its Giga Texas plant. Analysts expect the Cybertruck to boost the company's volume when production ramps up in 2024. Investors are also looking forward to Tesla's Q2 earnings report due Wednesday, with expectations of adjusted earnings per share of $0.81 and revenue of $24.53 billion.

Portfolio Pulse from Shanthi Rexaline

July 17, 2023 | 9:58 am

ARKK

BABA

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TSLA

US markets remain bullish following strong bank earnings. ARK's flagship fund sees a $717M exodus from investors. Wall Street strategist issues troubling assessment of stock-market rally. Biden receives $200K funding from OpenAI CEO for 2024 campaign. Pay raises beat inflation, providing financial relief to American workers. China's Q2 GDP miss stirs unease, impacting Alibaba, BYD, and other stocks. Tesla's Q2 results expected to show short-term margin disappointment but good recovery beyond. BlackRock CEO reveals high demand for Bitcoin, Ethereum among gold investors.

Portfolio Pulse from Akanksha Bakshi

July 17, 2023 | 9:53 am

UNH

On Friday, July 14, Wall Street ended mixed with bank and financial shares slipping post quarterly reports. UnitedHealth Group Inc (NYSE:UNH) shares soared 7.24% after reporting 2Q23 sales of $92.9 billion, up almost 16% YoY, beating the consensus of $91 billion. Asian and European markets were mostly down, with China's GDP lower than expected. US futures were mixed, and the US Dollar Index was down 0.08%.

Portfolio Pulse from Akanksha Bakshi

July 17, 2023 | 9:48 am

GreenPower Motor Co (NASDAQ:GP) reported Q4 sales of $15.30 million, beating the analyst consensus estimate of $13.98 million by 9.47 percent. This is a significant increase from the sales of $4.3 million in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2023 | 9:34 am

ADBE

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NVDA

UNH

WFC

The S&P 500 closed slightly lower on Friday, but all three major indices recorded strong weekly gains. UnitedHealth Group Incorporated (UNH) shares gained more than 7% after reporting better-than-expected Q2 earnings. JPMorgan Chase & Co. (JPM) shares rose 0.6% following upbeat quarterly earnings, while Wells Fargo & Company (WFC) shares slipped 0.3% despite higher quarterly profit. The Nasdaq 100 slipped 0.04% amid gains in shares of NVIDIA Corp (NVDA) and Adobe Inc (ADBE). The CBOE Volatility Index (VIX) fell 2%.

Portfolio Pulse from Lisa Levin

July 17, 2023 | 9:03 am

AMD

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NVDA

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KeyBanc Capital Markets analyst John Vinh is optimistic about the semiconductor sector despite soft chip demand, highlighting AI as a key strength. Vinh named Nvidia Corp., Marvel Technology, Inc., and ON Semiconductor Corp. as best positioned ahead of Q2 earnings. However, he expressed caution about Advanced Micro Devices, Inc. and Texas Instruments, Inc. due to various challenges. The Invesco PHLX Semiconductor ETF ended Friday's session down 1.10%.

Portfolio Pulse from Shanthi Rexaline

July 17, 2023 | 8:52 am

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Five stocks to watch on Monday include Guaranty Bancshares, BYND Cannasoft Enterprises, FB Financial Corporation, Universal Security Instruments, and Home Bancorp. Guaranty Bancshares is expected to post quarterly earnings of 56 cents per share. BYND Cannasoft Enterprises reported a proposed underwritten public offering. FB Financial Corporation is expected to have earned 65 cents per share for the latest quarter. Universal Security Instruments reported earnings of 12 cents per share for the fourth quarter. Home Bancorp is expected to report quarterly earnings of $1.16 per share.

Portfolio Pulse from Lisa Levin

July 17, 2023 | 8:07 am

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China's Q2 GDP growth of 6.3% year-over-year was lower than the expected 7.3%, causing unease among investors. The slower growth rate could impact Chinese stocks listed in the U.S., including Alibaba, Tencent, JD.com, BYD, and Nio. The iShares MSCI China ETF, which tracks U.S.-listed Chinese equities, ended down 1.71%.

Portfolio Pulse from Shanthi Rexaline

July 17, 2023 | 7:02 am

TSLA

Tesla, Inc. (NASDAQ:TSLA) is expected to host its Q2 earnings call soon. Analysts predict that the company may not discuss the launch timing of the Model 3 refresh due to the potential 'Osborne effect', which could lead to customers deferring orders for the current version of the product. The upgraded Model 3, codenamed 'Highland', is rumored to be close to starting trial production at Tesla's Giga Shanghai. Analyst Gary Black expects Tesla to report Q2 adjusted earnings of $0.82 per share and an auto gross margin of 18.2%, excluding regulatory credits.

Portfolio Pulse from Shanthi Rexaline

July 17, 2023 | 6:31 am

FBK

GNTY

HBCP

JPM

WFC

The Dow Jones recorded gains for the fifth straight session on Friday following strong earnings from major banks, including JPMorgan Chase & Co. and Wells Fargo & Company. The Dow gained 2.3% on a weekly basis, its best performance since March. The CNN Money Fear and Greed index remained in the 'Extreme Greed' zone. Investors are awaiting earnings results from FB Financial Corporation, Home Bancorp, Inc., and Guaranty Bancshares, Inc.

Portfolio Pulse from Lisa Levin

July 17, 2023 | 5:52 am