Streetbeat News

Revenues

AMD

MSFT

QQQ

SPY

Wall Street is optimistic about a tech-led rebound driven by AMD's strong Q2 results. Major indices are up, with expectations of a Fed rate cut in September. Key stocks like AMD, MSFT, and ETFs like SPY and QQQ are showing significant premarket movements.

Portfolio Pulse from Shanthi Rexaline

July 31, 2024 | 11:56 am

MFG

Mizuho Financial Group (NYSE:MFG) reported Q1 2024 GAAP EPS of $0.15, beating the $0.11 estimate. Sales increased to $15.278 billion, up 12.74% YoY.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 11:50 am

MILN

SBUX

XLY

Starbucks Corporation (NASDAQ:SBUX) shares are trading higher on Wednesday despite reporting third-quarter revenues that missed estimates. The company reported earnings in line with expectations and highlighted promising signs in its U.S. operations. Starbucks opened 526 new stores in the quarter and declared a cash dividend of 57 cents per share.

Portfolio Pulse from Nabaparna Bhattacharya

July 31, 2024 | 11:46 am

ROCK

Gibraltar Industries (NASDAQ:ROCK) reported Q2 2024 earnings of $1.18 per share, missing the analyst estimate of $1.25. Sales were $353.005 million, also below the $373.600 million estimate. Despite the misses, EPS increased by 2.61% year-over-year, while sales decreased by 3.26%.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 11:40 am

GTES

Gates Industrial has revised its FY24 adjusted EPS guidance to a range of $1.29 to $1.35, down from the previous range of $1.28 to $1.43, and below the estimated $1.38. The company also adjusted its core revenue growth outlook to a range of -4% to -2%, from the previous range of -3% to +1%.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 11:39 am

SXC

SunCoke Energy (NYSE:SXC) reported Q2 earnings per share of $0.25, beating the analyst estimate of $0.21. Sales were $470.90 million, surpassing the $410.35 million estimate. Despite the beats, sales decreased by 11.88% compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 11:38 am

FRSH

Freshworks shares are trading higher following the release of better-than-expected Q2 financial results and an upward revision of Q3 and FY24 revenue guidance.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 11:34 am

COCO

The Vita Coco Company has reaffirmed its full-year guidance for 2024, expecting net sales between $500M and $510M, slightly below the $509.64M estimate. The company anticipates growth in its coconut water segment but expects declines in its private label coconut oil business. Gross margins are projected to be between 37% and 39%, with ocean freight costs impacting margins in the second half, particularly in Q4. SG&A expenses are expected to remain flat or increase slightly compared to 2023, and adjusted EBITDA is forecasted to be between $76M and $82M.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 11:33 am

GTES

Gates Industrial Corp (NYSE:GTES) reported Q2 2024 adjusted EPS of $0.36, meeting analyst expectations. However, the company missed sales estimates, reporting $885.5 million compared to the expected $895.588 million, a 1.13% shortfall and a 5.43% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 11:33 am

SYRS

Syros Pharmaceuticals reported having $79 million in cash, cash equivalents, and marketable securities as of June 30, 2024. This amount is expected to cover its operating expenses and capital expenditure requirements into the third quarter of 2025.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 11:32 am