Streetbeat News

Stock Prices

TSLA

Tesla's directors have agreed to repay $735 million to the company, resolving a lawsuit filed in 2020 over excessive compensation. Despite this, Tesla's stock performance remains strong, with a weekly surge of 4.43%, a monthly rise of 11.80%, and a yearly increase of over 147%. The company's Q2 earnings are predicted to be slightly lower than Q1's 0.85 at around 0.81.

Portfolio Pulse from Zaheer Anwari

July 19, 2023 | 1:28 pm

CVNA

VRM

Vroom Inc (NASDAQ:VRM) and Carvana Co (NYSE:CVNA) shares surged following Carvana's strong Q2 results. Carvana reported Q2 revenue of $2.97 billion, beating estimates of $2.59 billion, and a 94% YoY increase in gross profit per unit. The company also guided for positive adjusted EBITDA in Q3 and announced an agreement to reduce total debt, extend maturities, and lower near-term cash interest expenses. Vroom, a direct competitor of Carvana, has been moving higher alongside Carvana shares in recent months.

Portfolio Pulse from Adam Eckert

July 19, 2023 | 1:24 pm

DIA

DOW

IBM

MMM

WBA

The Dow Jones Industrial Average has entered a bull market, attracting investors to its 30 components. The SPDR Dow Jones Industrial Average ETF (DIA) has seen three consecutive months of net inflows, amassing over $1.3 billion in the last three months. The Dow Jones components are trading at a more attractive multiple than those in the S&P 500 and Nasdaq 100. The top 5 high-dividend stocks in the Dow Jones Industrial Average are International Business Machines Corp. (IBM), Dow Inc. (DOW), 3M Company (MMM), Walgreens Boots Alliance, Inc. (WBA), and Verizon Communication, Inc. (VZ).

Portfolio Pulse from Piero Cingari

July 19, 2023 | 1:21 pm

MTB

M&T Bank Corporation (NYSE:MTB) reported Q2 FY23 revenue of $2.60 billion, beating the consensus of $2.39 billion. Net income of $867 million was significantly higher than $218 million a year ago, largely due to the sale of its Collective Investment Trust (CIT) business which resulted in a pre-tax gain of $225 million. The bank's shares are trading higher by 2.02% at $137.48 in premarket trading.

Portfolio Pulse from Lekha Gupta

July 19, 2023 | 1:19 pm

CARR

Carrier Global Inc. (NYSE:CARR) has seen its shares increase by 31.74% over the past three months. The company's total debt stands at $8.85 billion, with $8.71 billion in long-term debt and $142 million in current debt. After adjusting for $3.35 billion in cash-equivalents, the net debt is $5.50 billion. The debt-ratio, a measure of financial leverage, is at 0.34, indicating a considerable portion of debt is funded by assets.

Portfolio Pulse from Benzinga Insights

July 19, 2023 | 1:15 pm

NFLX

Netflix Inc (NASDAQ:NFLX) shares are trading higher ahead of the company's Q2 financial results. The company is expected to report earnings of $2.85 per share on quarterly revenue of $8.29 billion. Last quarter, Netflix guided for earnings of $2.84 per share on revenue of $8.2 billion and said the company remains on track to meet its full-year 2023 financial objectives. Netflix shares are up more than 45% over the last three months.

Portfolio Pulse from Adam Eckert

July 19, 2023 | 1:07 pm

LMT

Lockheed Martin Corp reported better-than-expected Q2 FY23 results with net sales growth of 8.1% YoY to $16.69 billion, above the consensus of $15.91 billion. Adjusted EPS of $6.73 also topped the consensus of $6.45. The company raised its FY23 net sales and EPS forecasts. Despite the strong results, Lockheed Martin shares fell 3% to close at $455.70 on Tuesday. Post-earnings, Citigroup, Wells Fargo, and RBC Capital revised their price targets on Lockheed Martin.

Portfolio Pulse from Lisa Levin

July 19, 2023 | 1:07 pm

PRFX

PaiReform (PRFX) has regained compliance with Nasdaq's continued listing requirements, avoiding potential delisting.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2023 | 1:06 pm

ANGI

BBIG

DUO

FYBR

GSMG

IPG

MMV

OMC

SIFY

SNAL

Several communication services stocks experienced significant movement in Wednesday's pre-market session. Frontier Communications, Fangdd Network Group, AT&T, Angi, and Sify Technologies saw gains, while Omnicom Group, Interpublic Group of Cos, Snail, MultiMetaVerse Holdings, Glory Star New Media Gr, and Vinco Ventures experienced losses. Omnicom Group's drop followed the release of its Q2 earnings report.

Portfolio Pulse from Benzinga Insights

July 19, 2023 | 1:06 pm

AMRN

SXTP

During Wednesday's pre-market session, several healthcare stocks experienced significant movements. Gainers included 60 Degrees (SXTP), Panbela Therapeutics (PBLA), Bio-Path Hldgs (BPTH), bluebird bio (BLUE), Zynerba Pharmaceuticals (ZYNE), and Prenetics Global (PRE). Losers included Amarin Corp (AMRN), ZyVersa Therapeutics (ZVSA), Dynatronics (DYNT), Biophytis (BPTS), First Wave BioPharma (FWBI), and Milestone Pharmaceuticals (MIST).

Portfolio Pulse from Benzinga Insights

July 19, 2023 | 1:06 pm