Streetbeat News

Revenues

OXY

Occidental Petroleum Corporation (NYSE:OXY) shares are trading higher after the company reported strong Q2 2024 earnings, beating analyst estimates on both EPS and sales. The company attributed its financial success to higher domestic crude oil volumes and prices, despite lower domestic gas prices and higher transportation costs.

Portfolio Pulse from Dylan Berman

August 08, 2024 | 4:48 pm

HBI

Hanesbrands Inc. (NYSE:HBI) shares surged 14.4% after the company reported better-than-expected Q2 earnings. The company posted adjusted EPS of 15 cents, beating the street view of 10 cents, and an adjusted gross margin of 39.8%, up 525 basis points year-over-year. Despite a 4% decline in net sales from continuing operations, the company highlighted strong performance in its U.S. innerwear unit and margin gains. Hanesbrands also adjusted its full-year 2024 guidance, projecting net sales of $3.59 billion to $3.63 billion and adjusted EPS of $0.31 to $0.37.

Portfolio Pulse from Nabaparna Bhattacharya

August 08, 2024 | 4:44 pm

MORT

REM

REZ

RKT

UWMC

XHB

Mortgage rates have fallen to their lowest levels in over a year, driven by expectations of Federal Reserve rate cuts. This has increased homebuyers' purchasing power and boosted refinancing applications. Goldman Sachs has revised its home price appreciation forecasts upwards for 2024 and 2025. Mortgage-linked stocks and ETFs, including REZ, MORT, REM, RKT, UWMC, and XHB, have seen gains as a result.

Portfolio Pulse from Piero Cingari

August 08, 2024 | 4:42 pm

XERS

Xeris Biopharma shares are trading higher after the company reported better-than-expected Q2 financial results and raised its FY24 revenue guidance above estimates.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 4:34 pm

NVAX

SNY

Novavax Inc (NASDAQ:NVAX) reported lower-than-expected Q2 2024 sales and trimmed its annual revenue outlook. Despite a rise in EPS and net income, the company missed consensus estimates. Novavax's partnership with Sanofi SA (NASDAQ:SNY) and future pipeline developments are expected to drive long-term value.

Portfolio Pulse from Vandana Singh

August 08, 2024 | 4:32 pm

ERJ

Embraer S.A. (NYSE:ERJ) shares are trading higher after the company reported strong Q2 earnings for the 2024 fiscal year, with EPS and revenue beating analysts' estimates. The company saw significant growth in defense and security revenue and provided optimistic delivery and revenue projections for the fiscal year.

Portfolio Pulse from Dylan Berman

August 08, 2024 | 4:31 pm

FCNCA

First Citizens BancShares (NASDAQ:FCNCA) has significantly outperformed the market over the past 15 years, delivering an average annual return of 18.66%. A $1000 investment in FCNCA 15 years ago would be worth $12,656.45 today. The company's current market capitalization is $28.50 billion.

Portfolio Pulse from Benzinga Insights

August 08, 2024 | 4:30 pm

BRO

Brown & Brown (NYSE:BRO) has outperformed the market over the past 5 years with an annualized return of 22.31%, significantly higher than the market average. A $100 investment in BRO 5 years ago would now be worth $276.04. The article highlights the power of compounded returns.

Portfolio Pulse from Benzinga Insights

August 08, 2024 | 4:30 pm

AAPL

AMZN

GOOG

META

MSFT

NVDA

QQQ

SPY

TBT

TLT

TSLA

The article discusses the impact of a weak Treasury auction and jobless claims on the stock market. It highlights the importance of monitoring the S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQ), as well as the Magnificent Seven stocks (AAPL, AMZN, GOOG, META, MSFT, NVDA, TSLA). The Bank of Japan's hawkish stance and the weak Treasury auction have led to market volatility. Investors are advised to consider protection bands and focus on high-quality bonds.

Portfolio Pulse from The Arora Report

August 08, 2024 | 4:25 pm

AMSC

American Superconductor shares are trading higher after the company reported better-than-expected Q1 financial results and issued Q2 revenue guidance above estimates. Roth MKM also raised its price target on the stock from $27 to $29.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 4:24 pm