Streetbeat News

Earnings

AMZN

Amazon's Prime Day 2023 was the largest sales day in the company's history, with Prime members purchasing over 375 million items worldwide and saving more than $2.5 billion. The event was also the biggest ever for independent sellers in Amazon's store. The company offered more deals than any past Prime Day event, with top-selling deals including Fire TV Stick, LANEIGE Lip Glowy Balm, Apple AirPods, and Bissell Little Green Portable Deep Cleaner. Prime members also shopped deals beyond the Amazon store using Buy with Prime, a new feature that offers benefits when shopping directly from participating brands' websites.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 1:50 pm

DIA

IWM

QQQ

SPY

Major indexes are up due to softer-than-expected June inflation data and strong financial results from Delta. This could be boosting market sentiment ahead of upcoming corporate earnings.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 1:46 pm

AAL

DAL

American Airlines Group Inc (AAL) shares are trading higher by 2.53% following better-than-expected Q2 results from Delta Air Lines, Inc. (DAL). Delta reported a 19% YoY growth in adjusted operating revenue and a 73% YoY increase in adjusted operating income. Barclays analyst maintained American Airlines with an Underweight and raised the price target from $15 to $18.

Portfolio Pulse from Henry Khederian

July 13, 2023 | 1:42 pm

WIT

Wipro Limited (NYSE:WIT) announced its Q2 2023 results, reporting a 12% YoY increase in net income and total bookings of $3.7 billion. Gross revenue increased by 6.0% YoY to $2.8 billion, and IT Services Segment Revenue increased by 0.8% YoY. The company expects revenue from its IT Services business segment to be between $2,722 million and $2,805 million for Q3 2023.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 1:33 pm

CYRX

Cryoport Inc's shares are trading lower after the company released preliminary Q2 FY23 results and updated its revenue expectations for FY23. The company expects Q2 sales of $56.5-$57.5 million, a decrease of 11% compared to Q2 2022 and below the consensus of $67.4 million. This is due to weaker global demand for capital equipment, clinical trial start delays, and slower ramps from certain clients. Cryoport has also lowered its FY23 sales outlook to $233-$243 million, down from prior guidance of $270-$290 million.

Portfolio Pulse from Vandana Singh

July 13, 2023 | 1:31 pm

CRKN

Crown Electrokinetics Corp. (NASDAQ:CRKN) has announced a revised revenue guidance for 2023 of $40 million with EBITDA of $15 million, once the capital needs of the fiber optics business are met. The company has recently reduced its debt and is focusing on growth opportunities in its fiber optics division. It also highlighted progress in its Smart Window Inserts production, with delivery expected in late summer.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 1:18 pm

PGR

Progressive (NYSE:PGR) reported Q2 earnings of $0.40 per share, missing the analyst consensus estimate of $0.87 by 54.02%. This is a 63.64% decrease from the same period last year. The company also reported quarterly sales of $14.46 billion, missing the analyst consensus estimate of $14.98 billion by 3.44%. However, this is a 19.06% increase from the same period last year.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 1:05 pm

PGR

Progressive Corporation's shares are trading lower following the company's Q2 report, which showed a miss on net premiums written and earnings.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 12:59 pm

TSM

Taiwan Semiconductor Manufacturing Company (TSMC) is projected to report over 10% sequential revenue growth in Q3 2023. The company's fab utilization rate is also expected to exceed 80% during this period.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 12:58 pm

PPSI

Pioneer Power Solutions, Inc. (NASDAQ:PPSI) has won approximately $6.2 million in E-Bloc orders from several new customers, including a major global designer and manufacturer of aerospace products and services, and three solar-centric developers. The orders support Pioneer Power's expectations of at least 50% year-over-year revenue growth for 2023.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 12:40 pm