Streetbeat News

Revenues

GRMN

Garmin Ltd (NYSE:GRMN) reported strong Q2 2024 earnings, with revenue and EPS beating analyst estimates. The company saw significant growth in its Fitness and Marine segments, leading to an increased annual revenue outlook. Despite a slight decline in gross margin, the operating margin improved. Garmin's stock has gained over 69% in the last 12 months but traded lower by 2.70% recently.

Portfolio Pulse from Anusuya Lahiri

July 31, 2024 | 1:38 pm

KHC

Kraft Heinz (NASDAQ:KHC) reported a 3.6% decline in Q2 FY24 revenue to $6.48 billion, missing analyst estimates. Despite a 1.5% increase in gross profit, operating income fell by 62.1%. The company maintained its FY24 adjusted EPS outlook and declared a $0.40 dividend. Shares are up 2.54% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

July 31, 2024 | 1:32 pm

AMD

INTC

JPMorgan analyst Harlan Sur has raised his outlook for AMD, citing impressive Q2 earnings and strong growth in data center GPU revenue. AMD's data center division saw a 115% year-over-year increase, and the company is expected to continue gaining market share from Intel in the server and PC CPU segments. Sur has set a $180 price target for AMD by 2025, implying a 30% upside from its current price.

Portfolio Pulse from Surbhi Jain

July 31, 2024 | 1:32 pm

MA

Mastercard Inc (NYSE: MA) reported strong Q2 earnings with net revenues of $7.0 billion, beating estimates. Adjusted EPS rose 24% to $3.59. Growth was driven by increased consumer spending, travel, and demand for value-added services. Mastercard's stock is up 2.71% premarket.

Portfolio Pulse from Anusuya Lahiri

July 31, 2024 | 1:31 pm

JNVR

Janover shares are trading higher after the company announced its new Insurtech platform achieved profitability in its second month of operation and increased its recurring revenue.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 1:20 pm

BG

Bunge Limited (NYSE:BG) shares fell over 6% after missing Q2 earnings and sales estimates. The company reported adjusted EPS of $1.73, below the $1.80 consensus, and sales of $13.24 billion, missing the $14.27 billion estimate. Despite lower Agribusiness performance, Bunge made progress on strategic priorities, including the sale of its interest in a sugar and bioenergy joint venture. Cash flow concerns were highlighted, with cash used for operations at $480 million compared to cash provided of $472 million last year. The company raised its full-year 2024 adjusted EPS outlook to $9.25.

Portfolio Pulse from Nabaparna Bhattacharya

July 31, 2024 | 1:16 pm

NHTC

Natural Health Trends (NASDAQ:NHTC) reported Q2 earnings of $0.02 per share, a 200% increase from $(0.02) per share YoY. Sales were $10.47M, a slight decrease from $10.51M YoY.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 1:15 pm

NITO

N2OFF, Inc. (NASDAQ:NITO) has entered into an agreement to fund up to €8 million for 50% rights in several solar PV projects developed by Solterra Renewable Energy Ltd. The first project, with a capacity of 111 MW, has received municipal approval and an indicative grid connection solution in Germany.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 1:15 pm

TLS

Telos Corporation (NASDAQ:TLS) is expanding its TSA PreCheck enrollment services by opening a new location at the Eastern Iowa Airport in Cedar Rapids. This marks Telos' first airport-based enrollment center and brings the total number of centers to 69 across the U.S.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 1:13 pm

UFPT

UFP Technologies (NASDAQ:UFPT) reported Q2 earnings of $1.75 per share, beating the analyst estimate of $1.53 by 14.38%. Sales were $110.18M, surpassing the $106.97M estimate and marking a 10.14% increase from last year.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 1:13 pm