Streetbeat News

Earnings

OC

Owens Corning Inc's Q2 FY23 results beat expectations, leading RBC Capital Markets analyst Mike Dahl to upgrade the company's rating to Outperform from Sector Perform and raise the price target from $135 to $168. Despite a 1.5% YoY decrease in net sales to $2.56 billion, the figure surpassed the consensus of $2.54 billion. Adjusted EPS was $4.22, above the consensus of $3.23. Dahl sees a more resilient Owens Corning going forward, with price/cost tailwinds in Roofing/Insulation and improved volume outlooks. He also raised FY23 and FY24 sales estimates.

Portfolio Pulse from Nabaparna Bhattacharya

July 27, 2023 | 7:37 pm

CCL

RCL

Carnival Corporation (CCL) shares are trading higher after Royal Caribbean (RCL) reported strong Q2 results and increased its guidance. Royal Caribbean's Q2 earnings of $1.82 per share and sales of $3.52 billion beat analyst consensus estimates. The company also raised its 2023 EPS guidance from $4.40-$4.80 to $6.00-$6.20, and expects Q3 EPS between $3.38 and $3.48.

Portfolio Pulse from Ryan Gustafson

July 27, 2023 | 7:36 pm

INTC

Intel Corporation (NASDAQ:INTC) is set to report its Q2 earnings after the market close. The company is expected to report a loss of three cents per share and revenue of $10.97 billion. Rosenblatt analyst Hans Mosesmann reiterated Intel with a Sell and maintained the $17 price target. Shares of INTC were up 0.3% at $34.37 at the time of publication.

Portfolio Pulse from Ryan Gustafson

July 27, 2023 | 7:35 pm

TREE

LendingTree reported worse-than-expected Q2 sales results, leading to a drop in its share price.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 7:29 pm

BAX

Baxter International reported lower-than-expected revenue results and issued Q3 and FY23 adjusted EPS guidance, leading to a drop in its share price.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 7:28 pm

SHOO

Telsey Advisory Group analyst Dana Telsey reiterated a Market Perform rating on Steven Madden Ltd (NASDAQ:SHOO) with a price target of $39. The company is expected to report Q2 2023 results on August 2, 2023. The analyst expects a Q2 EPS of $0.48, down from $0.63 last year, and total sales to decrease 12.5% Y/Y to $468 million. Despite volatile macro conditions, the analyst believes SHOO's wholesale channel trends can improve through the year.

Portfolio Pulse from Shivani Kumaresan

July 27, 2023 | 7:27 pm

TALK

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

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 7:27 pm

ULBI

Ultralife Corporation reported better-than-expected Q2 financial results, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 7:25 pm

TEAM

A significant bullish stance has been taken on Atlassian (NASDAQ:TEAM) as evidenced by unusual options activity. The overall sentiment of these big-money traders is split between 60% bullish and 40% bearish. Whales have been targeting a price range from $140.0 to $270.0 for Atlassian over the last 3 months. The price of TEAM is currently down -3.41% at $170.63. Next earnings are expected to be released in 7 days.

Portfolio Pulse from Benzinga Insights

July 27, 2023 | 7:16 pm

CSTM

Benchmark analyst Josh Sullivan reiterated a Buy rating on Constellium SE (NYSE:CSTM), raising the price target to $24 from $19. The company recently reported Q2 results, raising FY23 EBITDA guidance due to robust aerospace sales. Demand for high-value aerospace plates and other products is driving significant EBITDA per ton in Aerospace & Transportation. However, the aluminum packaging market is still transitioning out of a destocking cycle. Net leverage is now 2.7x, down 0.3x y/y. With FCF improving and CSTM moving towards the 2.5x net leverage target, the company is likely to start exploring shareholder returns.

Portfolio Pulse from Nabaparna Bhattacharya

July 27, 2023 | 7:11 pm