Streetbeat News

Earnings

BAC

Bank of America has reported a Q2 provision for credit losses of $1.125 billion, up from $523 million year-over-year.

Portfolio Pulse from Bill Haddad

July 18, 2023 | 10:47 am

ABOS

FFIE

GDS

LITE

MASI

NKLA

SYF

Several stocks recorded losses in Tuesday's pre-market trading session. Masimo Corporation shares dipped 27.3% after reporting weak preliminary revenue results for Q2. Acumen Pharmaceuticals tumbled 9.5% after reporting a proposed public offering of common stock. Lumentum Holdings, GDS Holdings, Faraday Future Intelligent Electric, Nikola Corporation, and Synchrony Financial also saw declines.

Portfolio Pulse from Lisa Levin

July 18, 2023 | 10:46 am

BAC

Bank of America's Q2 sales have surpassed estimates, reporting $25.33B against the expected $25.05B.

Portfolio Pulse from Bill Haddad

July 18, 2023 | 10:46 am

BAC

Bank of America (NYSE:BAC) reported Q2 earnings of $0.88 per share, beating the analyst consensus estimate of $0.84 by 4.76 percent. This represents a 20.55 percent increase over earnings of $0.73 per share from the same period last year.

Portfolio Pulse from Bill Haddad

July 18, 2023 | 10:45 am

PNC

PNC Financial Services Group reported a 2% quarter-on-quarter decrease in its Q2 net interest income to $3.5 billion. The bank also reported a 2% decrease in average deposits to $425.7 billion.

Portfolio Pulse from Bill Haddad

July 18, 2023 | 10:40 am

PNC

PNC Financial Services Group reported Q2 earnings of $3.36 per share, beating the analyst consensus estimate of $3.28 by 2.44%. However, the company's quarterly sales of $5.29 billion missed the analyst consensus estimate of $5.45 billion by 2.88%. This represents a 1.75% decrease in earnings and a 3.46% increase in sales compared to the same period last year.

Portfolio Pulse from Bill Haddad

July 18, 2023 | 10:39 am

BK

Bank of New York Mellon (NYSE:BK) reported Q2 earnings of $1.38 per share, beating the analyst consensus estimate of $1.22 by 13.11%. This is a 33.98% increase from the same period last year. The company also reported quarterly sales of $4.45 billion, beating the analyst consensus estimate of $4.37 billion by 1.83%, a 4.61% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 10:36 am

SYF

Synchrony Financial (SYF) reported Q2 earnings of $1.32 per share, beating the analyst consensus estimate of $1.24 by 6.45%. However, this is a 17.5% decrease from the same period last year. The company also reported quarterly sales of $4.12 billion, in line with analyst estimates, marking an 8.36% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 10:32 am

ATRO

Astronics Corp (NASDAQ:ATRO) reported above-consensus Q2 preliminary revenue results, expecting revenues to be $170 million-$175 million, above the consensus of $167.08 million. The company also disclosed Q2 preliminary orders of around $200 million-$205 million, including a $9.6 million production order for the U.S. Marine Corps. The company's shares are trading higher by 3.02% at $19.11 premarket.

Portfolio Pulse from Lekha Gupta

July 18, 2023 | 10:25 am

SYF

Synchrony Financial (SYF) reported Q2 earnings of $1.32 per share, beating the analyst consensus estimate of $1.27 by 3.94%. However, this is a 17.5% decrease from the same period last year. The company also reported quarterly sales of $4.12 billion, beating the estimate of $4.05 billion by 1.73%, and marking an 8.36% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 9:54 am