Streetbeat News

Earnings

Goldman Sachs is expected to report its worst quarterly earnings in years next week, with writedowns on its GreenSky consumer-lending business and commercial real estate holdings likely to exceed $2 billion. The poor performance is expected to increase pressure on CEO David Solomon, who has been criticized for his resource allocation and strategic decisions. The firm's relationship with the Federal Reserve has also reportedly deteriorated under Solomon's leadership.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 5:23 pm

RKLB

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares have gained more than 20% in the past five sessions and have climbed more than 65% higher over the last three months. The company is scheduled to launch its next mission on July 14 and will release its Q2 financial results on August 8.

Portfolio Pulse from Erica Kollmann

July 13, 2023 | 5:07 pm

ROL

RBC Capital Markets analyst Ashish Sabadra has reiterated an Outperform rating on Rollins, Inc. (NYSE:ROL), raising the price target to $52 from $45. Sabadra expects a solid Q2 with revenue slightly above consensus, and predicts that ROL will focus on improving SG&A efficiency and technology initiatives to drive margin expansion in FY23. The analyst also raised the Q2 residential revenue estimate and the FY23 revenue estimate.

Portfolio Pulse from Nabaparna Bhattacharya

July 13, 2023 | 4:51 pm

AEHR

CAG

CTAS

DAL

EDUC

FAST

FEIM

NTIC

OGI

PEP

PGR

RMCF

WIT

Several companies are scheduled to report their quarterly earnings on July 13, 2023. These include Progressive, Delta Air Lines, PepsiCo, Conagra Brands, Wipro, Northern Technologies, Fastenal, Cintas, OrganiGram Holdings, Frequency Electronics, Educational Development, Aehr Test Systems, and Rocky Mountain Chocolate.

Portfolio Pulse from Benzinga Insights

July 13, 2023 | 4:51 pm

CYRX

DAL

FWBI

JZXN

SNPX

SXTP

VSAT

U.S. stocks traded higher with the Nasdaq Composite gaining over 100 points. Delta Air Lines reported better-than-expected Q2 results with a 19% YoY adjusted operating revenue growth to $14.61 billion, beating the consensus of $14.46 billion. Shares of Jiuzi Holdings, Synaptogenix, and 60 Degrees Pharmaceuticals rose significantly. However, Viasat, Cryoport, and First Wave BioPharma shares dropped due to various reasons.

Portfolio Pulse from Lisa Levin

July 13, 2023 | 4:21 pm

SHOP

Shopify Inc's shares are trading higher due to positive analyst coverage from Roth MKM. The analyst maintained a Buy rating for Shopify and increased the price target from $68 to $73. This is based on positive channel checks and growth acceleration ahead of the company's Q2 earnings next month. Shopify is expected to report earnings of 6 cents per share on quarterly revenue of $1.62 billion.

Portfolio Pulse from Adam Eckert

July 13, 2023 | 3:49 pm

COIN

An option alert has been issued for Coinbase Global (COIN) for Friday $90 calls sweep near the ask price. The volume of this option is 402 at $2.7, compared to the open interest of 8205. The company's earnings report is expected on 8/8 after the market closes. The reference price is $89.51.

Portfolio Pulse from Charles Gross

July 13, 2023 | 3:41 pm

AMC

AMC Entertainment Holdings has an option alert for July 28 $4 calls at the ask price of $0.51 for 1000 shares, compared to an open interest of 4804. The company is expected to release its earnings report on August 3 after market close. The reference price is $4.441.

Portfolio Pulse from Charles Gross

July 13, 2023 | 3:21 pm

CHSCP

CHS Inc. (NASDAQ:CHSCP) reported Q3 FY23 net income of $547.5 million, down from $576.6 million in Q3 FY22. For the first nine months of FY23, net income was $1.6 billion with revenues of $36.1 billion, up from $1.2 billion and $34.4 billion respectively in the same period of FY22. The Energy segment saw strong earnings due to favorable market conditions, while the Ag segment saw decreased earnings due to market-driven price decreases for agronomy products.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 3:17 pm

NTIC

Northern Technologies International Corp (NTIC) reported Q3 FY23 sales of $20.97 million, a 10.6% YoY growth, but missed the estimate of $20.60 million. Adjusted EPS was $0.17, missing the consensus of $0.19. The company's sales growth was aided by solid performance across ZERUST Industrial, ZERUST oil and gas, and Natur-Tec segments. NTIC shares traded higher by 5.37% at $11.47 on the last check Thursday.

Portfolio Pulse from Nabaparna Bhattacharya

July 13, 2023 | 3:15 pm