Streetbeat News

Earnings

SDA

SunCar Technology Group Inc. reported its FY22 results, with revenues of $282.4M, up 13% YoY, and EPS of $(0.03) compared to $(0.11) YoY. The revenue increase was attributed to growth in all business units. However, operating costs and expenses also increased by 23% to $295.0M, leading to an operating loss of $12.6M. The net loss was $11.9M, a decrease of 34% from FY21. The company's cash and cash equivalents stood at $47.7M as of December 31, 2022.

Portfolio Pulse from Happy Mohamed

July 03, 2023 | 4:30 pm

IBKR

Interactive Brokers Group, Inc. (NASDAQ:IBKR) reported its Electronic Brokerage monthly performance metrics for June 2023. The company reported 1.960 million Daily Average Revenue Trades (DARTs), 3% lower than the prior year but 5% higher than the prior month. Client equity ended at $365.0 billion, 24% higher than the prior year and 6% higher than the prior month. Client margin loan balances ended at $41.9 billion, 2% lower than the prior year but 5% higher than the prior month. The company also reported a loss of $1.6 million for the quarter ended June 30th on its U.S. government securities portfolio.

Portfolio Pulse from Benzinga Newsdesk

July 03, 2023 | 4:17 pm

TSLA

Tesla Inc (NASDAQ:TSLA) reported Q2 2023 delivery and production figures, with 466,140 units delivered, up 83.0% YoY, and 479,700 units produced, up 85.5% YoY. The company remains on track to hit an internal goal of 1.8 million vehicles delivered for the full fiscal year. The Model 3 and Model Y represented 86% of all deliveries. Tesla will report Q2 financial results on July 19.

Portfolio Pulse from Chris Katje

July 03, 2023 | 4:14 pm

HTH

PTGX

Protagonist Therapeutics has an option alert for Jul 21 $22.5 calls sweep near the ask. Earnings are expected on 8/3 after close. Hilltop Holdings reported a security incident at PlainsCapital Bank due to a vulnerability in a third-party vendor's application, likely leading to unauthorized data access.

Portfolio Pulse from Charles Gross

July 03, 2023 | 4:14 pm

MU

NVDA

SPY

Micron Technology Inc (NASDAQ:MU) is promising to catch up with AI chip leader NVIDIA Corporation (NASDAQ:NVDA) and other top S&P 500 companies. Despite a 57% YoY revenue drop and a negative gross margin of 17.8%, Micron's shares rose more than 2% after it topped Q3 estimates. The company is planning to introduce its first GDDR7 new-generation memory chips in H1 2024 and several AI-related products. However, Micron's recovery may be slowed by the ongoing U.S.-China technology dispute, which puts up to half of its China revenue at risk.

Portfolio Pulse from Upwallstreet

July 03, 2023 | 2:57 pm

TSLA

Tesla Inc. (TSLA) shares are rising following strong Q2 delivery numbers, with the company producing 479,700 vehicles and delivering 466,140 vehicles, an increase of over 83% YoY. Goldman Sachs analyst Mark Delaney maintained a Neutral rating on Tesla and increased the 12-month price target from $248 to $275. However, analysts are awaiting margin and profitability data to fully understand the company's performance. Tesla will report Q2 financial results on July 19.

Portfolio Pulse from Adam Eckert

July 03, 2023 | 2:56 pm

ABR

AXR

HT

REFI

SACH

Benzinga Insights has identified five notable value stocks in the real estate sector: Chicago Atlantic Real (REFI), Arbor Realty Trust (ABR), Amrep (AXR), Sachem Cap (SACH), and Hersha Hospitality (HT). These companies have been selected based on their low P/E multiples, indicating they may be undervalued. Recent earnings and dividend yield changes for each company have also been reported.

Portfolio Pulse from Benzinga Insights

July 03, 2023 | 2:49 pm

BTCY

Biotricity (NASDAQ:BTCY) reported Q4 sales of $2.74 million, up from $2.46 million in Q3, but earnings decreased 3.43% to a loss of $4.67 million. The company posted a Return On Capital Employed (ROCE) of 0.24% in Q4, indicating effective capital allocation. Biotricity's Q4 earnings per share of $-0.08 beat analyst predictions of $-0.09.

Portfolio Pulse from Benzinga Insights

July 03, 2023 | 2:45 pm

CCL

Carnival Corp (CCL) shares are trading higher following a better-than-expected earnings report. The company reported quarterly losses of 31 cents per share, beating the analyst consensus estimate of a loss of 34 cents. Sales were $4.91 billion, exceeding the analyst consensus estimate of $4.77 billion by 2.96%. Adjusted FY23 EBITDA is projected to be between $4.10 billion and $4.25 billion. JP Morgan analyst Matthew Boss maintained Carnival with an Overweight and raised its price target from $16 to $18.

Portfolio Pulse from Henry Khederian

July 03, 2023 | 2:39 pm

STLA

FCA US LLC, a subsidiary of Stellantis N.V. (STLA), reported a 6% increase in total U.S. sales for Q2 2023 compared to the same period last year, with sales of 434,648 vehicles. The Ram brand saw a 3% increase in total U.S. sales, while the Jeep Wrangler 4xe recorded its best quarter to date with a 56% increase in total sales. The Chrysler brand's total U.S. sales grew by 33%, and the Dodge brand's total U.S. sales increased by 37%. Stellantis brands Dodge, Ram, and Alfa Romeo took the top three spots in the J.D. Power 2023 U.S. Initial Quality Study.

Portfolio Pulse from Happy Mohamed

July 03, 2023 | 2:05 pm