Streetbeat News

Earnings

ERIE

Erie Indemnity Company's shares are trading higher following the release of its Q2 financial results, which exceeded expectations.

Portfolio Pulse from Benzinga Newsdesk

July 28, 2023 | 3:38 pm

LYV

Shares of Live Nation Entertainment Inc (NYSE:LYV) rose after the company reported record-breaking quarterly results. The company is expected to benefit from strong concert demand continuing into 2024, according to Oppenheimer. Analyst Jed Kelly maintained an Outperform rating for Live Nation Entertainment while raising the price target from $110 to $115. The company's 2024 event pipeline is up from what the 2023 pipeline looked like last year. Live Nation Entertainment's deferred revenue has also accelerated to +37% year-on-year.

Portfolio Pulse from Priya Nigam

July 28, 2023 | 3:38 pm

QS

QuantumScape's stock is trading higher following the company's recent earnings report.

Portfolio Pulse from Benzinga Newsdesk

July 28, 2023 | 3:37 pm

CNC

Centene Corporation reported its Q2 financial results and issued FY23 adjusted EPS guidance below estimates. The company also reiterated its FY24 adjusted EPS guidance, which is also below estimates.

Portfolio Pulse from Benzinga Newsdesk

July 28, 2023 | 3:34 pm

BFST

EOSE

RETA

ROKU

SNBR

TNXP

XOM

US stocks traded higher with the Dow Jones gaining around 250 points. Exxon Mobil Corp reported weaker-than-expected Q2 earnings with adjusted EPS of $1.94 missing the consensus estimate of $2.01. Business First Bancshares, Reata Pharmaceuticals, and Roku reported positive quarterly results while Tonix Pharmaceuticals, Sleep Number Corporation, and Eos Energy Enterprises reported negative results.

Portfolio Pulse from Lisa Levin

July 28, 2023 | 3:31 pm

IMO

Imperial Oil Limited reported its Q2 financial results, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

July 28, 2023 | 3:28 pm

INTC

PG

The Personal Consumption Expenditure (PCE) price index, the Federal Reserve's favored inflation indicator, showed a slight decrease in price pressures in June, easing investors' concerns about a potentially destabilizing inflation surge. Economists believe that the softer-than-expected PCE data could trigger the market to hit new highs. Stronger earnings from major companies like Intel Corporation (NASDAQ:INTC) and Proctor & Gamble Co (NYSE:PG) have also contributed to a positive earnings season.

Portfolio Pulse from AJ Fabino

July 28, 2023 | 3:27 pm

HIG

Hartford Financial Services Group's shares are trading lower following the company's Q2 revenue results, which were below expectations.

Portfolio Pulse from Benzinga Newsdesk

July 28, 2023 | 3:26 pm

FSLR

First Solar Inc (NASDAQ:FSLR) reported better-than-expected Q2 results and announced plans to build its fifth U.S. panel factory. Analysts from BofA Securities, Oppenheimer, Goldman Sachs, Morgan Stanley, and Raymond James provided positive feedback on the company's performance and future outlook. The company's stock price rose by 0.63% to $199.84 at the time of publication.

Portfolio Pulse from Priya Nigam

July 28, 2023 | 3:26 pm

NWL

Newell Brands Inc reported a Q2 FY23 sales decline of 13.2% YoY to $2.20 billion, beating the analyst consensus of $2.15 billion. The company's adjusted EPS of $0.24 also beat the analyst consensus of $0.13. However, the company lowered its FY23 adjusted EPS outlook to $0.80 - $0.90 from $0.95 - $1.08 and cut the FY23 sales outlook to $8.20 billion - $8.34 billion from $8.4 billion - $8.6 billion. Despite the lowered outlook, NWL shares traded higher by 10% at $11.28.

Portfolio Pulse from Shivani Kumaresan

July 28, 2023 | 3:24 pm