Streetbeat News

Earnings

CAG

DAL

JPM

PEP

The upcoming week will see a number of companies reporting their earnings, including JPMorgan, PepsiCo, Delta Air Lines, and ConAgra Foods. The Dow Jones Industrial Average has seen a rebound in the first half of the year, with 15 of the 30 stocks in the index up and 15 down. The June consumer price index (CPI) report is also set to be released, with the previous reading showing an inflation rate of 4% year-on-year.

Portfolio Pulse from Anthony Noto

July 09, 2023 | 8:04 pm

BMBL

NVDA

RIVN

Barron's has highlighted several stocks in its weekend review, including General Motors (GM), Rivian (RIVN), Bumble (BMBL), Nvidia (NVDA), Mastercard (MA), and Visa (V). GM's stock has been boosted by strong Q2 US deliveries. RIVN is believed to be on the right track towards executing its long-term business model. Despite BMBL's shaky stock, there's optimism about the company's payer growth. NVDA is seen as a promising player in the AI space. MA and V are still considered strong plays due to strong earnings and potential for higher revenue.

Portfolio Pulse from Justin Chan

July 08, 2023 | 4:58 pm

FSR

MBGAF

NKLA

RIVN

TSLA

VWAGY

The electric vehicle (EV) industry saw positive headlines last week, with most stocks rising. Tesla (TSLA) extended discounts for new inventory vehicles into Q3, raising concerns about weak demand and its impact on margins. However, Tesla's Cybertruck launch is creating buzz and is seen as a game-changer. Mercedes-Benz (MBGAF) will adopt Tesla's charging standard in 2025. Rivian (RIVN) reported better-than-expected Q2 deliveries and its stock soared over 48%. Fisker (FSR) produced only 1,022 Ocean SUVs, missing its target due to component shortages. Nikola (NKLA) adjourned its shareholder meeting again after failing to get approval to issue new stock. Audi, a subsidiary of Volkswagen (VWAGY), plans to open an EV production plant in Mexico.

Portfolio Pulse from Shanthi Rexaline

July 08, 2023 | 12:54 pm

AZZ

AZZ (NYSE:AZZ) reported its Q1 earnings results, missing estimated earnings by 1.72% with an EPS of $1.14 versus an estimate of $1.16. However, revenue was up $76.47 million from the same period last year. Last quarter, the company beat EPS estimates but saw a 4.32% drop in share price the next day.

Portfolio Pulse from Benzinga Insights

July 07, 2023 | 8:50 pm

AMZN

BIIB

MSFT

TSLA

UPS

The June jobs report showed mixed data, with unemployment dropping to 3.6% but job additions falling short of expectations. Traders are expecting a Fed interest rate hike in July, but weaker job market numbers decrease the likelihood of a consecutive hike in September. The ongoing US-China spat is affecting the semiconductor sector, with new restrictions and bans affecting companies like Amazon and Microsoft. The FDA approved a new Alzheimer's drug by Eisai Co and Biogen. UPS is facing potential labor issues, and Tesla reported strong Q2 deliveries. Earnings reports from several major companies are expected next week.

Portfolio Pulse from Natan Ponieman

July 07, 2023 | 7:52 pm

KRUS

Stephens analyst Joshua Long reiterated an Overweight rating on Kura Sushi USA, Inc. (NASDAQ:KRUS), raising the price target to $95 from $85. The company's 3Q23 results were in line with revenue expectations and ahead on restaurant-level margins, EBITDA, and EPS. The analyst raised FY23E top-line estimate from $187.7 million to $188.0 million, driven by top-line strength and new unit development. KRUS shares are trading higher by 17.85% to $100.47.

Portfolio Pulse from Nabaparna Bhattacharya

July 07, 2023 | 7:00 pm

RIVN

Rivian Automotive has seen a significant option alert for September 15 $40 calls, with 500 contracts traded near the ask price at $1.04, compared to an open interest of 28,587. The company is expected to announce earnings on August 8 after market close. The reference price is $24.7723.

Portfolio Pulse from Charles Gross

July 07, 2023 | 6:49 pm

SLP

Oppenheimer analyst Francois Brisebois reiterated an Outperform rating on Simulations Plus, Inc. (NASDAQ:SLP) with a price target of $67. Brisebois sees SLP as an attractive investment for exposure to biotech innovation themes and data growth waves. The analyst is optimistic about SLP's 10-year growth trajectory and cash position. SLP reported 3Q23 with a top line of $16.2 million, mostly in line with estimates. The company's software revenue was $10.6 million. The analyst expects FY23 revenues of $60.67 million, up 12.6% Y/Y, and EPS of $0.64, up from $0.60 a year ago.

Portfolio Pulse from Nabaparna Bhattacharya

July 07, 2023 | 6:47 pm

PSNY

Polestar reported Q2 deliveries of 15,800, marking a 36% growth over last year. This positive news has led to an increase in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

July 07, 2023 | 6:32 pm

RRX

Oppenheimer analyst Christopher Glynn reiterated an Outperform rating on Regal Rexnord Corporation (NYSE:RRX) with a price target of $190. Glynn expects 2Q23 results to have an adjusted EPS of $2.40, with a slight downside due to caution by HVAC OEMs. Despite short-term HVAC challenges, the analyst expects a revenue jump and long-term profit improvements for FY23. RRX shares are trading higher by 2.35% to $152.28.

Portfolio Pulse from Nabaparna Bhattacharya

July 07, 2023 | 6:29 pm