Streetbeat News

Revenues

ADP

Automatic Data Processing, Inc. (NASDAQ: ADP) reported better-than-expected fiscal Q4 2024 earnings, with revenues of $4.77 billion and adjusted EPS of $2.09. Employer Services revenue increased by 7%, and PEO Services revenue grew by 6%. The company also provided a positive FY25 outlook.

Portfolio Pulse from Anusuya Lahiri

July 31, 2024 | 2:30 pm

SPY

USO

USA crude oil inventories saw a draw of 3.436 million barrels, significantly higher than the estimated draw of 1.600 million barrels and slightly lower than the prior draw of 3.741 million barrels.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 2:30 pm

NFLX

Netflix Inc (NASDAQ:NFLX) is raising $1.8 billion through its first debt offering since 2020 to refinance existing debt and for general corporate purposes. The company, which ended Q2 with 277.65 million global paid subscribers, aims to maintain its leadership in the streaming sector. The new funds could also be used for acquisitions in streaming or gaming.

Portfolio Pulse from Chris Katje

July 31, 2024 | 2:23 pm

MAR

Marriott International (NASDAQ:MAR) shares dropped 5% despite beating Q2 EPS estimates. The company reported Q2 adjusted EPS of $2.50, surpassing the $2.47 estimate, but missed sales expectations with $6.439 billion versus $6.483 billion. Marriott's FY24 outlook disappointed investors, projecting full-year adjusted EPS between $9.23 and $9.40, below the $9.50 estimate.

Portfolio Pulse from Nabaparna Bhattacharya

July 31, 2024 | 2:21 pm

NCLH

Norwegian Cruise Line's executive announced that the company's increased guidance is entirely due to stronger pricing. This was revealed during a conference call.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 2:18 pm

AAPL

GOOGL

META

MSFT

NVDA

QQQ

SPY

TSLA

The Market Clubhouse Morning Memo for July 31st, 2024, provides a detailed analysis of key price levels for SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA. The memo outlines potential bullish and bearish scenarios for each asset based on proprietary formulas. Additionally, the memo highlights significant economic data releases and the FOMC Interest Rate Decision, which are expected to create a volatile trading environment.

Portfolio Pulse from RIPS

July 31, 2024 | 2:16 pm

COP

ConocoPhillips (NYSE:COP) has outperformed the market over the past 5 years with an average annual return of 15.63%, resulting in a $1000 investment growing to $2,049.93. The company's current market capitalization is $130.51 billion.

Portfolio Pulse from Benzinga Insights

July 31, 2024 | 2:03 pm

DAY

Dayforce, Inc. (NYSE:DAY, TSX:DAY) announced that its on-demand pay solution, Dayforce Wallet, has surpassed $4 billion in payroll delivered. This milestone highlights the growing adoption of Dayforce Wallet in providing early direct deposit and paycard services to employees globally.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 2:01 pm

OUT

Outfront Media (NYSE:OUT) has been analyzed by six analysts, revealing a range of sentiments from bullish to bearish. The average 12-month price target is $17.0, with a high of $18.00 and a low of $16.00. Recent ratings include a 'Neutral' from JP Morgan, a 'Hold' from TD Cowen, and 'Outperform' from Barrington Research. The company has shown a 3.21% revenue growth rate over the last three months, but faces challenges with a net margin of -7.2%, ROE of -5.2%, and ROA of -0.53%.

Portfolio Pulse from Benzinga Insights

July 31, 2024 | 2:01 pm

HUM

Humana Inc (NYSE:HUM) reported Q2 earnings that beat expectations but issued a subpar profit outlook, causing its stock to tumble. The company posted adjusted EPS of $6.96, down from $8.94 a year ago, but above the consensus of $5.85. Revenues increased to $29.54 billion, driven by higher Medicare premiums and membership growth. Despite favorable claims development, higher inpatient admissions impacted results. Humana reaffirmed its 2024 adjusted EPS guidance of ~$16.00, below the consensus of $20.31, and expects a 2024 insurance segment benefit ratio of approximately 90%. HUM stock fell 6.32% following the announcement.

Portfolio Pulse from Vandana Singh

July 31, 2024 | 2:01 pm