Streetbeat News

Earnings

STLD

Steel Dynamics has provided Q2 2023 earnings guidance, expecting Q2 EPS to be between $4.78 and $4.82, lower than the estimated $5.06.

Portfolio Pulse from Benzinga Newsdesk

June 16, 2023 | 2:17 pm

ADBE

SPCE

US stocks traded mixed with Dow Jones gaining around 50 points on Friday. Adobe Inc. reported better-than-expected Q2 results and issued a strong earnings forecast. Virgin Galactic Holdings announced its first commercial spaceflight between June 27 and June 30.

Portfolio Pulse from Lisa Levin

June 16, 2023 | 1:49 pm

CF

NAAS

Naas Technology (NASDAQ:NAAS) and CF Industries Holdings (NYSE:CF) are scheduled to report their earnings on June 16, 2023, with NAAS reporting before the bell and CF reporting after the bell.

Portfolio Pulse from Benzinga Insights

June 16, 2023 | 1:22 pm

BSAQ

LCID

Electric vehicle company VinFast filed Form F-4 to complete a merger with SPAC Black Spade Acquisition Co (NYSE:BSAQ) by July 20. VinFast reported a 49.2% YoY revenue decline to $83.54 million in Q1, attributing it to lower selling prices and a pivot to EVs. The pro forma equity valuation of VinFast is estimated to be ~$23 billion.

Portfolio Pulse from Akanksha Bakshi

June 16, 2023 | 1:12 pm

FDX

FedEx Corporation (NYSE:FDX) is expected to report lower Q4 earnings of $4.89 per share, down from $6.87 per share a year ago, with revenues of $22.77 billion. Analysts have recently updated their price targets, with most seeing an upside in the company's stock.

Portfolio Pulse from Lisa Levin

June 16, 2023 | 1:12 pm

DB

Deutsche Bank's CFO, Jacob von Moltke, estimated a 15%-20% decline in Q2 2023 fixed-income trading revenue and a 15% or worse Y/Y decline in investment bank division revenue. However, he sees encouraging stability in corporate finance advice and underwriting business, and expects Origination & Advisory business to be flat to up Y/Y in Q2 2023.

Portfolio Pulse from Lekha Gupta

June 16, 2023 | 1:03 pm

STLD

Steel Dynamics (NASDAQ:STLD) provided Q2 2023 earnings guidance of $4.78-$4.82 per share, higher than the $4.13 estimate. The company expects stronger steel operations profitability, steady metals recycling earnings, and historically strong but lower steel fabrication earnings compared to Q1 2023.

Portfolio Pulse from Benzinga Newsdesk

June 16, 2023 | 12:48 pm

ADBE

Adobe Inc. reported better-than-expected Q2 results with a 10% YoY revenue increase to $4.82 billion, beating the consensus estimate of $4.43 billion. Analysts from Piper Sandler, RBC Capital, Wells Fargo, and Morgan Stanley raised their price targets on Adobe following the earnings announcement.

Portfolio Pulse from Lisa Levin

June 16, 2023 | 12:37 pm

ENS

EnerSys expects a compound annual growth rate (CAGR) of 8-10% in net sales from FY23 to FY27 and targets an adjusted EPS of $11-$13 by FY27.

Portfolio Pulse from Benzinga Newsdesk

June 16, 2023 | 12:34 pm

ORCL

Oracle Corp has downsized its health unit, including Cerner, which it acquired for $28.3 billion in December 2022, by laying off hundreds of employees and cutting back open positions. The move follows Cerner's challenged work with the U.S. Department of Veterans Affairs. Oracle's Q4 revenue increased 17% YoY to $13.8 billion, beating analyst estimates.

Portfolio Pulse from Anusuya Lahiri

June 16, 2023 | 12:09 pm