Streetbeat News

Earnings

General Motors (GM) reported a 9% increase in vehicle deliveries in China for Q2, with over 526,000 vehicles delivered. The company also saw double-digit growth for the Chevrolet and Cadillac brands, with over 115,000 new energy vehicle (NEV) sales. GM is on track to launch more than 20 new and refreshed models in China this year, a third of which will be NEVs. The company is also increasing its EV manufacturing capacity in China, aiming for over 1 million units annually by 2025.

Portfolio Pulse from Nabaparna Bhattacharya

July 10, 2023 | 5:09 pm

RIVN

Rivian shares are trading higher, possibly due to continued momentum after the company reported strong Q2 production figures last week.

Portfolio Pulse from Benzinga Newsdesk

July 10, 2023 | 5:04 pm

LCID

Lucid Group (LCID) has seen a significant option alert for its Friday $7.5 calls, with 1287 contracts traded near the ask price of $0.411, compared to an open interest of 14800. The company is expected to announce its earnings on August 2nd after market close.

Portfolio Pulse from Charles Gross

July 10, 2023 | 4:02 pm

CVNA

Carvana Co (NYSE:CVNA) shares have been trading higher, with gains of over 575% since the start of the year and 250% in the last three months. The surge was sparked by better-than-expected financial results and positive EBITDA expectations for Q2. The company also reported a lower quarterly loss than estimated due to a renewed focus on profitability. Carvana raised its Q2 outlook in June, leading to several analysts raising price targets. The company's total EV sales have increased by 786% over the past five years.

Portfolio Pulse from Adam Eckert

July 10, 2023 | 3:27 pm

MCD

McDonald's (NYSE:MCD) has introduced a wedding food package in Indonesia, which includes 100 chicken sandwiches and 100 four-piece chicken nugget packs. The package is not for hosting a wedding at McDonald's locations but for catering purposes. If successful, the initiative could be rolled out in the U.S. This comes after McDonald's reported strong financial results, with global comparable sales up 12.6% year-over-year.

Portfolio Pulse from Chris Katje

July 10, 2023 | 3:21 pm

CVNA

An option alert has been issued for Carvana (CVNA) for July 21 $35 calls. The alert indicates a sweep near the ask price with 200 contracts at $3.0 versus an open interest of 1942. Carvana's earnings report is expected on August 3 after market close. The reference price is $32.81.

Portfolio Pulse from Charles Gross

July 10, 2023 | 3:08 pm

NSTG

NanoString Technologies (NSTG) has announced that it expects its Q2 revenue to exceed $44 million, surpassing both its own guidance and the consensus estimate of $41 million. The company also reiterated its FY23 revenue guidance, which is above the consensus estimate.

Portfolio Pulse from Benzinga Newsdesk

July 10, 2023 | 3:04 pm

RIVN

Rivian Automotive has an option alert for August 18 $30 calls at the bid: 1500 @ $2.11 vs 11514 open interest. The company's earnings will be announced after close on August 8. The reference price is $25.7396.

Portfolio Pulse from Charles Gross

July 10, 2023 | 2:51 pm

HELE

JUPW

MOB

NBTX

NEON

TIVC

TTCF

US stocks traded mostly higher with the Dow Jones gaining over 100 points. Helen Of Troy Ltd reported better-than-expected Q1 results with a sales decline of 6.6% YoY to $474.67 million, beating the analyst consensus. Mobilicom Limited, Jupiter Wellness, and Nanobiotix S.A. saw their shares rise significantly. Tivic Health Systems, Neonode Inc., and Tattooed Chef, Inc. saw their shares drop.

Portfolio Pulse from Lisa Levin

July 10, 2023 | 2:50 pm

AFCG

LADR

SEVN

TCN

Benzinga Insights has identified five value stocks in the real estate sector that may be worth watching: Tricon Residential (NYSE:TCN), Seven Hills Realty Trust (NASDAQ:SEVN), AFC Gamma (NASDAQ:AFCG), Hersha Hospitality (NYSE:HT), and Ladder Cap (NYSE:LADR). The selection is based on the price-to-earnings (P/E) multiple, a common indicator of undervalued stocks. The report also includes recent earnings per share and dividend yield data for each company.

Portfolio Pulse from Benzinga Insights

July 10, 2023 | 2:49 pm