Streetbeat News

Revenues

TEL

TE Connectivity has provided its Q4 FY24 outlook, expecting net sales of $4.0 billion and adjusted EPS of $1.94, slightly above estimates. GAAP EPS is projected at $1.80, up 3% year over year.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 10:05 am

TSLA

Tesla, Inc. (NASDAQ:TSLA) shares fell over 7% in premarket trading after reporting Q2 earnings that missed expectations on key metrics like auto gross margin and free cash flow. Despite a modest revenue increase, concerns were raised due to reliance on regulatory credits and lower 2024 volume growth projections.

Portfolio Pulse from Shanthi Rexaline

July 24, 2024 | 10:04 am

VRT

Vertiv Holdings has announced its Q3 revenue forecast to be between $1.935 billion and $1.985 billion, compared to the consensus estimate of $1.971 billion. The company also expects adjusted EPS to be between $0.65 and $0.69, higher than the estimated $0.63.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 10:04 am

GM

TSLA

General Motors (GM) has halted the development of its Origin autonomous vehicle, citing regulatory concerns, but Tesla CEO Elon Musk claims the real reason is GM's technological shortcomings. GM will now focus on the next-generation Chevrolet Bolt for its Cruise unit's autonomous operations. Cruise co-founder Kyle Vogt expressed disappointment, accusing GM of abandoning innovative projects prematurely.

Portfolio Pulse from Anan Ashraf

July 24, 2024 | 10:03 am

TMO

Thermo Fisher Scientific has raised its FY24 revenue guidance from a range of $42.3 billion-$43.3 billion to $42.4 billion-$43.3 billion, slightly above the previous estimate of $42.96 billion.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 10:02 am

VRT

Vertiv Holdings has raised its FY24 revenue guidance to a range of $7.59 billion to $7.74 billion, up from the previous range of $7.54 billion to $7.69 billion. The new guidance is slightly above the market estimate of $7.69 billion.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 9:59 am

VRT

Vertiv Holdings (NYSE:VRT) reported Q2 2024 adjusted EPS of $0.67, beating the $0.57 estimate. Sales were $1.953 billion, surpassing the $1.939 billion estimate and marking a 12.63% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 9:57 am

V

Visa Inc. (NYSE:V) shares fell over 3% in pre-market trading after the company slightly missed Q3 revenue estimates. Despite the miss, Visa reported strong growth in payment volume, cross-border volume, and processed transactions.

Portfolio Pulse from Benzinga Neuro

July 24, 2024 | 9:53 am

AAPL

NVDA

TSM

Japan's Prime Minister Fumio Kishida announced a new bill to boost domestic investment in AI and semiconductor production. The bill aims to support research, development, and large-scale production of next-generation chips, particularly through Rapidus Corp. This move is part of Japan's strategy to triple its domestic semiconductor sales by 2030 and diversify its chip supply chain. The announcement comes amid global semiconductor rivalry, particularly between the U.S. and China. Major tech companies like Nvidia and Apple, which rely on TSMC for chips, could be impacted by these developments.

Portfolio Pulse from Benzinga Neuro

July 24, 2024 | 9:40 am

ALLE

Allegion has raised its FY24 revenue growth outlook to a range of 2.5% to 3.5%.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 9:32 am