Streetbeat News

Earnings

WIT

Wipro Limited (NYSE:WIT) reported Q1 FY24 gross revenue of $2.782 billion, a 6% Y/Y increase, slightly beating the consensus of $2.78 billion. IT Services revenue grew 0.8% Y/Y to $2.78 billion. Net income was $349.8 million, up by 12% Y/Y. However, EPS of $0.06 missed the consensus of $0.07. Wipro held $1.02 billion in cash and equivalents as of June 30. Wipro's shares traded higher by 1.27% at $4.80 premarket on the last check Thursday.

Portfolio Pulse from Anusuya Lahiri

July 13, 2023 | 11:22 am

FAST

Fastenal's Q2 earnings and revenue fell short of expectations, leading to a drop in its share price.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 11:12 am

GOLD

Barrick Gold has reported preliminary Q2 sales of 1.00 million ounces of gold and 101 million pounds of copper.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 11:02 am

DIS

META

QQQ

SPY

VSAT

US stocks are set to open higher due to relief from inflation and optimism about earnings. The June inflation report showed consumer prices growing at the slowest month-over-month rate since March 2021. Analysts have differing views on the market rally. SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ ETF (NASDAQ:QQQ) rose in premarket trading. Viasat, Inc. (NASDAQ:VSAT) shares fell over 22% due to an anomaly during the deployment of its ViaSat-3 Americas satellite. Walt Disney, Inc. (NYSE:DIS) and Meta Platforms, Inc. (NASDAQ:META) saw a rise in their shares.

Portfolio Pulse from Shanthi Rexaline

July 13, 2023 | 10:53 am

FAST

Fastenal (NASDAQ:FAST) reported Q2 earnings of $0.52 per share, missing the analyst consensus estimate of $0.53 by 1.89 percent. This is a 4 percent increase from the same period last year. The company's quarterly sales of $1.88 billion also missed the analyst consensus estimate of $1.89 billion by 0.37 percent, but it's a 5.85 percent increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 10:51 am

HL

Hecla Mining Company (NYSE:HL) reported its preliminary silver and gold production for Q2 and H1 2023. Silver production increased by 13% YTD, driven by a 21% increase at Lucky Friday and a 6% increase at Greens Creek. Gold production decreased by 14%. Keno Hill produced 184,264 ounces of silver, operating at 75% of the targeted throughput. Lucky Friday reported its highest quarterly silver production in over 20 years.

Portfolio Pulse from Charles Gross

July 13, 2023 | 10:42 am

CWEN

Clearway Energy, Inc. (NYSE:CWEN, CWEN.A) announced that its Q2 2023 wind production was 25% below internal median production estimates, including the Alta Wind Complex's production at 20% below expectations. This represents the lowest quarterly production in the company's history, resulting in an estimated decrease in Q2 2023 revenue of between $25 and $30 million.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 10:37 am

AAL

DAL

LUV

UAL

Airline stocks are trading higher following better-than-expected Q2 results from Delta.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 10:35 am

PEP

PepsiCo Inc reported Q2 FY23 sales growth of 10.4% YoY to $22.32 billion, beating the analyst consensus. Net revenue from various segments showed significant growth. Gross profit increased 12.9% YoY to $12.2 billion, and the profit margin expanded to 54.6%. The company raised the FY23 organic revenue growth outlook to 10% and sees 12% core constant currency EPS growth. PepsiCo continues to expect total cash returns to shareholders to be approximately $7.7 billion.

Portfolio Pulse from Shivani Kumaresan

July 13, 2023 | 10:34 am

DAL

Delta Air Lines reported better-than-expected Q2 results, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 10:34 am