Streetbeat News

Earnings

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C

JPM

SPY

WFC

The market is anticipating the impacts of a strong jobs report on inflation, with expectations of higher rates and no cuts in 2023 due to core inflation. The Federal Reserve's slow rate increases are seen as insufficient to curb high prices. The market is also bracing for potential aggressive rate hikes if employment remains high. The upcoming CPI release and the start of the earnings season could trigger market movements. JPMorgan, Wells Fargo, Blackrock, and Citibank are set to report earnings on July 14th. The SPY ETF's performance is being closely watched, with its price overdue to break beneath the 20 Day SMA.

Portfolio Pulse from Joe Benjamin

July 07, 2023 | 12:13 am

CAVA

CMG

Chipotle Mexican Grill, Inc. (NYSE:CMG) is closing all five of its Pizzeria Locale restaurants in Colorado, a test concept that had been operating since 2013. The company did not provide specific reasons for the closure. Chipotle's stock traded lower on Thursday, closing down 1.29% at $2,093.37, amid overall market weakness. The company will report earnings on July 26. CAVA Group Inc (NYSE:CAVA), a company with a similar model to Chipotle, went public last month and is currently valued at around $4 billion.

Portfolio Pulse from Aaron Bry

July 06, 2023 | 10:12 pm

NCPL

Netcapital has projected its net sales for the fiscal year 2023 to range between $8.3M and $8.5M, as per its 8-K filing.

Portfolio Pulse from Charles Gross

July 06, 2023 | 9:35 pm

LEVI

Levi Strauss CFO has stated that the latter half of the year will benefit from incremental phase drivers and margin tailwinds due to lower product costs and freight, laying a solid foundation for the next year.

Portfolio Pulse from Charles Gross

July 06, 2023 | 9:22 pm

CCF

Chase (AMEX:CCF) reported Q3 adjusted earnings of $1.32 per share, a 17.5% decrease YoY. However, the company's sales increased by 20.34% to $106.64 million compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 9:16 pm

LEVI

Levi Strauss & Co's Q2 revenue decreased 9% YoY to $1.337 billion, narrowly missing the consensus estimate of $1.34 billion. The company reported quarterly adjusted earnings of 4 cents per share, beating analyst estimates of 3 cents per share. Inventories increased 18% YoY, and the company ended the quarter with $472 million in cash and equivalents, and total liquidity of $1.3 billion. Levi expects full-year 2023 net revenues to grow between 1.5% and 2.5%, and earnings to be between $1.10 and $1.20 per share. The company's shares were down 7.10% after hours.

Portfolio Pulse from Adam Eckert

July 06, 2023 | 9:02 pm

RIOT

Riot Platforms, Inc. (NASDAQ:RIOT) has released its production and operations updates for June 2023. The company mined 460 Bitcoin in June, a 9% increase year-on-year but a 32% decrease from May 2023. Riot also announced an initial order of 33,280 MicroBT miners for its Corsicana Facility, which is expected to add 7.6 EH/s to its self-mining fleet. The company's power strategy, which involves selling power back into the grid during periods of peak demand, generated $8.4 million in power sales and $1.6 million in demand response revenue in June.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 8:46 pm

SIF

SIFCO Industries reported Q1 losses of $(0.44) per share, a 31.25% improvement from $(0.64) per share YoY. Sales also increased by 10.66% to $21.30 million from $19.25 million YoY.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 8:44 pm

UONE

Urban One (NASDAQ:UONE) reported Q4 earnings of $0.02 per share, a decrease of 83.33% YoY. However, the company's sales increased by 1.25% YoY to $132.60 million.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 8:38 pm

LEVI

Levi Strauss & Co reported a decline in Q2 margins and issued a softer EPS guidance for FY23. The company also noted an 18% increase in inventories on a dollar basis, leading to a drop in its share price.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 8:33 pm