Streetbeat News

Revenues

FCX

Freeport McMoRan (NYSE:FCX) has announced a $7.5 billion expansion of its El Abra copper mine in Chile, aiming to boost production to 340,000 metric tons of copper annually by 2025. The expansion includes a new concentrator plant and desalination infrastructure. Additionally, Freeport declared a $0.15 per share dividend and initiated stock buybacks.

Portfolio Pulse from Stjepan Kalinic

July 24, 2024 | 2:23 pm

THC

Tenet Healthcare Corporation (NYSE: THC) reported strong Q1 earnings, with sales of $5.37 billion, beating the consensus of $5.15 billion. The company announced a $1.5 billion share buyback program and raised its FY 2024 revenue guidance. Adjusted EBITDA for Q2 2024 was $945 million, up from $843 million a year ago. THC stock rose 5.28% following the news.

Portfolio Pulse from Vandana Singh

July 24, 2024 | 2:21 pm

GD

General Dynamics Corp (NYSE:GD) reported strong Q2 2024 revenue growth of 18% YoY to $11.976 billion, beating expectations. However, EPS of $3.26 missed the consensus of $3.29, leading to a 5.69% drop in share price. Operating earnings rose 20.2% YoY, and the company saw growth across all segments. Despite positive revenue, the outlook indicates a margin shrinkage by 30 basis points.

Portfolio Pulse from Akanksha Bakshi

July 24, 2024 | 2:20 pm

CORZ

IREN

Canaccord has raised its price target for Iris Energy (NASDAQ:IREN) from $12 to $15, citing the company's strong Bitcoin mining capabilities and potential for diversification. Iris Energy is building significant data center capacity and has secured substantial power resources. The mining sector is seeing a shift towards AI and high-performance computing, with Iris Energy well-positioned to capitalize on these trends.

Portfolio Pulse from Murtuza Merchant

July 24, 2024 | 2:13 pm

TCNNF

Caleb Counts, CEO of Connected Cannabis Co., discussed the company's journey from humble beginnings to becoming a celebrity favorite, with endorsements from artists like Travis Scott and ASAP Rocky. The company focuses on premium strains, sustainability, and expansion beyond California, including a key partnership with Trulieve Cannabis in Florida.

Portfolio Pulse from Patricio Liddle

July 24, 2024 | 2:12 pm

AAPL

AMZN

SPOT

Spotify Technologies S.A. (NYSE:SPOT) reported strong Q2 results with significant revenue growth, improved margins, and increased premium subscribers. However, it still lags behind Apple Inc (NASDAQ:AAPL) and Amazon.com Inc (NASDAQ:AMZN) in offering high-resolution audio. Spotify's turnaround strategy, including cost savings and new offerings, is showing positive results.

Portfolio Pulse from Upwallstreet

July 24, 2024 | 2:11 pm

PRTS

CarParts.com has opened a new state-of-the-art fulfillment center in Las Vegas, which doubles its footprint and aims to enhance operational efficiency and customer experience.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 2:07 pm

SPY

USA New Home Sales for June decreased by 0.6% compared to the previous month, which had a decline of 14.9%.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 2:01 pm

SHW

Analysts' ratings for Sherwin-Williams (NYSE:SHW) vary from bullish to bearish, with recent updates showing a mix of raised and lowered price targets. The average 12-month price target is $375.2, slightly down from the previous $376.40. Sherwin-Williams faces revenue growth challenges but maintains strong net margins and ROE.

Portfolio Pulse from Benzinga Insights

July 24, 2024 | 2:00 pm

COST

Costco Wholesale (NASDAQ:COST) has significantly outperformed the market over the past 5 years, delivering an average annual return of 24.58%. A $100 investment in COST 5 years ago would now be worth $299.42. The article highlights the power of compounded returns.

Portfolio Pulse from Benzinga Insights

July 24, 2024 | 2:00 pm