Streetbeat News

Revenues

GPC

Genuine Parts Co (NYSE:GPC) reported disappointing Q2 FY24 earnings, missing analyst estimates and providing a bleak outlook for FY24. The company cited softer market conditions and lowered its revenue and EPS forecasts.

Portfolio Pulse from Shivani Kumaresan

July 23, 2024 | 2:54 pm

ARE

COMP

EXPI

NXDT

OPEN

OPI

VNQ

US home sales experienced a significant decline of 5.4% in June 2024, the sharpest monthly drop in 1.5 years, due to record high prices. The median home price reached an all-time high of $426,900. Real estate stocks showed mixed reactions, with some gaining and others declining.

Portfolio Pulse from Piero Cingari

July 23, 2024 | 2:46 pm

KMB

Kimberly-Clark Corporation (NYSE:KMB) shares fell after the company reported mixed Q2 earnings. While adjusted EPS of $1.96 beat expectations, revenues of $5.029 billion missed estimates. Sales declined 2% year-over-year due to currency impacts and divestitures. Despite this, the company improved its gross margin and raised its EPS growth outlook for FY24.

Portfolio Pulse from Nabaparna Bhattacharya

July 23, 2024 | 2:46 pm

LLY

NVO

Novo Nordisk's weight-loss drug Wegovy has received approval in the UK for reducing the risk of heart disease. This approval could significantly boost the drug's market potential and Novo Nordisk's revenue.

Portfolio Pulse from Benzinga Newsdesk

July 23, 2024 | 2:41 pm

MAIA

REGN

MAIA Biotechnology announced promising long-term benefits from its Phase 2 THIO-101 trial for advanced non-small-cell lung cancer patients. The trial, which combines MAIA's THIO with Regeneron's cemiplimab, shows high efficacy and low toxicity. Despite positive results, MAIA's stock is down 14.25%.

Portfolio Pulse from Vandana Singh

July 23, 2024 | 2:38 pm

LOGI

Logitech's CEO is optimistic about the company's sustainable growth and B2B market recovery. The CFO search is progressing well, with news expected soon. There will be no significant change in direction after the chair's departure. AI-enabled products are expected to enhance device appeal and pricing.

Portfolio Pulse from Benzinga Newsdesk

July 23, 2024 | 2:36 pm

IRDM

Iridium Communications Inc (NASDAQ:IRDM) shares surged after reporting strong Q2 earnings of 27 cents per share, beating expectations. Despite missing sales estimates, the company saw a 13% year-over-year growth in billable subscribers, driven by commercial IoT. Iridium plans to continue aggressive shareholder-friendly activities in 2024.

Portfolio Pulse from Nabaparna Bhattacharya

July 23, 2024 | 2:35 pm

VRTX

Vertex Pharmaceuticals (NASDAQ:VRTX) has significantly outperformed the market over the past 5 years, delivering an average annual return of 24.11%. A $100 investment in VRTX 5 years ago would now be worth $293.44, highlighting the power of compounded returns.

Portfolio Pulse from Benzinga Insights

July 23, 2024 | 2:30 pm

HQY

HealthEquity (NASDAQ:HQY) has outperformed the market over the past 10 years with an average annual return of 15.82%, resulting in a $100 investment growing to $434.18. The company currently has a market capitalization of $6.56 billion.

Portfolio Pulse from Benzinga Insights

July 23, 2024 | 2:30 pm

CMCSA

NFLX

Comcast Corp (NASDAQ:CMCSA) reported a 2.7% decline in Q2 revenue to $29.69 billion, missing analyst estimates. Adjusted EPS beat expectations at $1.21. Revenue from Studios and Theme Parks fell significantly. Broadband and video subscribers also declined, while Peacock subscribers grew but missed estimates. Comcast shares fell 5.83% following the report.

Portfolio Pulse from Anusuya Lahiri

July 23, 2024 | 2:28 pm