Streetbeat News

Earnings

ANET

Arista Networks reported better-than-expected Q2 results, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2023 | 3:21 pm

ABVC

ACAX

CYBN

PFE

POL

SILC

TGTX

US stocks were mixed with Dow Jones trading slightly higher and NASDAQ and S&P 500 falling. Pfizer reported better-than-expected Q2 earnings, beating market estimates. ABVC BioPharma, TG Therapeutics, and Cybin saw their shares rise, while Polished.com, Alset Capital Acquisition, and Silicom saw their shares drop. Oil and gold traded down, while European shares were lower. Asian markets closed mixed.

Portfolio Pulse from Lisa Levin

August 01, 2023 | 3:17 pm

AFRM

Affirm Holdings has an option alert for Sep 15 $25 calls sweep near the ask with 450 @ $1.02 vs 3803 open interest. The company's earnings are expected to be announced after close on 8/24. The reference price is $19.1506.

Portfolio Pulse from Charles Gross

August 01, 2023 | 3:16 pm

TRN

Trinity Industries Inc (NYSE:TRN) reported Q2 FY23 revenue growth of 73% Y/Y to $722.4 million, beating the consensus of $613.9 million. However, its adjusted EPS of $0.23 missed the consensus of $0.33. The company's operating profit and adjusted EBITDA also increased. Despite positive industry trends expected in the second half of the year, the company's shares are trading lower by 8.43% at $24.01.

Portfolio Pulse from Lekha Gupta

August 01, 2023 | 3:11 pm

F

HYMTF

TSLA

WKSP

Ford Motor (F) has revealed that its EV transformation will result in a $4.5 billion loss this year, despite an increase in EV revenue. Meanwhile, Worksport Ltd (WKSP) has started production at its U.S. facility ahead of schedule. Ford's EV segment loss has more than doubled compared to last year. Worksport's innovative technology could contribute to a shift in the EV market. Hyundai Motor Company (HYMTF) will be the first automaker to equip its Santa Cruz with Worksport’s proprietary solar-powered technology. The race to catch up to Tesla (TSLA), the EV King, is on.

Portfolio Pulse from Upwallstreet

August 01, 2023 | 3:07 pm

PFE

Pfizer Inc has reported a Q2 adjusted EPS of $0.67, down 67% Y/Y, but beating the consensus of $0.57. The company reported sales of $12.73 billion, down 54% Y/Y, primarily due to decreased sales from Paxlovid and Comirnaty. Pfizer revises FY23 revenue guidance to $67 billion - $70 billion, versus the consensus of $67.30 billion and prior guidance of $67-$71 billion. PFE shares are down 0.03% at $36.04 on the last check Tuesday.

Portfolio Pulse from Vandana Singh

August 01, 2023 | 3:05 pm

WW

WW International has seen a significant option alert for January 19 $5 calls. A total of 200 contracts were traded near the ask price of $7.3, compared to an open interest of 2630. The company is set to announce its earnings on August 3, after the market closes. The reference price is $11.7.

Portfolio Pulse from Charles Gross

August 01, 2023 | 3:03 pm

DBVT

DBV Technologies has received FDA support for its COMFORT Toddlers and COMFORT Children supplemental safety studies for peanut allergies. The studies will enroll children aged 1-7 years and aim to support the efficacy results from the EPITOPE and VITESSE Phase 3 pivotal studies. The company reported Q2 sales of $2.28 million, up from $1.53 million a year ago, and an EPS loss of $(0.26), down from $(0.35) a year ago. DBVT shares are up 8.11% at $1.60 during the premarket session.

Portfolio Pulse from Vandana Singh

August 01, 2023 | 2:59 pm

MRK

Merck & Co Inc reported Q2 sales of $15.04 billion, up 3% Y/Y, beating the consensus of $14.39 billion. The company swung into a loss due to a $4.02 per share acquisition charge for Prometheus Biosciences. However, Merck raised its FY23 revenue outlook to $58.6-$59.6 billion, up from the previous guidance of $57.7-$58.9 billion. MRK shares are up 1.74% in premarket trading.

Portfolio Pulse from Vandana Singh

August 01, 2023 | 2:56 pm

TAP

Molson Coors Beverage Co (NYSE:TAP) reported Q2 FY23 sales growth of 11.8% YoY to $3.27 billion, missing the analyst consensus of $3.29 billion. The sales increase was due to positive net pricing, favorable sales mix, and higher financial volumes. Gross profit climbed 48.6% YoY to $1.218 billion. Non-GAAP EPS of $1.78 beat the consensus of $1.59. However, TAP shares traded lower by 5.39% in premarket.

Portfolio Pulse from Shivani Kumaresan

August 01, 2023 | 2:51 pm