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US stock futures are surging ahead of Microsoft and Google's earnings announcements. The tech-heavy Nasdaq Composite Index is on track for a positive open after snapping a four-day losing streak. Analysts are hopeful for positive earnings reports from the 'Magnificent Seven', which includes Alphabet, Inc. and Microsoft Corp. However, they caution against any negative surprises. In premarket trading, the SPDR S&P 500 ETF Trust and the Invesco QQQ ETF rose. Coinbase Global, Inc. surged over 7% in premarket trading after an appeals court ordered the SEC to review the Grayscale Bitcoin Spot ETF application.

Portfolio Pulse from Shanthi Rexaline

October 24, 2023 | 11:24 am

SHW

Sherwin-Williams has projected its Q4 consolidated net sales growth to either increase or decrease by a low-single digit percentage year over year.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 11:23 am

SHW

Sherwin-Williams has increased its full year 2023 adjusted EPS guidance from $9.30-$9.70 to $10.10-$10.30, surpassing the estimated $9.83.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 11:22 am

KMB

Kimberly-Clark has raised its FY23 outlook, expecting organic sales growth of 4%-5%, up from the previous 3%-5%. The company also anticipates an adjusted EPS growth of 15%-17%, an increase from the prior 10%-14%.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 11:21 am

GLW

Corning has announced that it expects Q4 core sales to be approximately $3.25 billion, which is lower than the estimated $3.56 billion. The company also expects its adjusted EPS to be between $0.37 and $0.42, lower than the estimated $0.50.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 11:15 am

FISV

Fiserv has revised its FY23 organic revenue growth outlook to 11% from the previous range of 9%-11%. The company also adjusted its EPS to $7.47-$7.52 from $7.40-$7.50, which is higher than the estimated $7.42.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 11:09 am

SASR

Sandy Spring Bancorp reported Q3 adjusted earnings of $0.62 per share, beating the analyst consensus estimate of $0.56 by 10.71%. However, the company's quarterly sales of $85.08 million missed the analyst consensus estimate of $88.05 million by 3.37%. This represents a 22.5% decrease in earnings and a 24.68% decrease in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 11:07 am

PNR

Pentair has updated its FY23 guidance, expecting an adjusted EPS of $3.70-$3.75, compared to the previous range of $3.65-$3.75 and consensus of $3.73. The company also anticipates sales to decrease by approximately 1% on a reported basis, an improvement from the previous estimate of a 2% decrease to flat. The company's GAAP EPS from continuing operations is estimated to be $3.25-$3.30. Pentair's full year free cash flow is expected to be approximately 100% of net income.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 11:04 am

RTX

RTX has announced a $10 billion accelerated share repurchase program, indicating a strong investment opportunity. The company is also increasing its capital return commitment through 2025 to $36 - $37 billion.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 11:04 am

ABG

Asbury Automotive Gr (NYSE:ABG) reported Q3 adjusted earnings of $8.12 per share, missing the analyst consensus estimate of $8.44 by 3.79%. This is a 12.03% decrease from the same period last year. The company also reported quarterly sales of $3.67 billion, missing the analyst consensus estimate of $3.77 billion by 2.73%, a 5.17% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 11:04 am