Streetbeat News

Stock Prices

METCB

SXC

WLK

The article discusses value stocks in the basic materials sector, highlighting five companies: Westlake (WLK), SunCoke Energy (SXC), ArcelorMittal (MT), Ramaco Resources (METCB), and Celanese (CE). All these companies have low P/E ratios, indicating they may be undervalued. The article also provides Q1 earnings per share and dividend yield data for each company.

Portfolio Pulse from Benzinga Insights

July 21, 2023 | 2:39 pm

HBAN

Huntington Bancshares Inc (NASDAQ:HBAN) reported Q2 revenues of $1.84 billion, in line with consensus. Net interest income rose 7% Y/Y to $1.35 billion. EPS of $0.35 beat the consensus of $0.34. Average loans and leases rose to $121.3 billion from $113.9 billion. Provision for credit losses rose to $92 million from $67 million the prior year. The company declared a dividend of $0.155 per common share. HBAN shares are trading lower by 1.35% at $11.69.

Portfolio Pulse from Lekha Gupta

July 21, 2023 | 2:37 pm

HRI

Bank of America Securities has downgraded Herc Holdings from Buy to Underperform and reduced its price target from $150 to $140. This has led to a decrease in Herc Holdings' share price.

Portfolio Pulse from Benzinga Newsdesk

July 21, 2023 | 2:34 pm

ALB

A significant amount of unusual options activity has been observed for Albemarle (NYSE:ALB), with 65% of investors taking a bullish stance and 35% bearish. The trades include 10 puts amounting to $1,833,575 and 10 calls amounting to $436,530. Whales have been targeting a price range of $170 to $280 for Albemarle over the last 3 months. Wells Fargo and Keybanc maintain an Overweight rating on Albemarle with price targets of $270 and $291 respectively, while Morgan Stanley downgraded its action to Underweight with a price target of $155.

Portfolio Pulse from Benzinga Insights

July 21, 2023 | 2:32 pm

AMD

INTC

NVDA

TSM

Nvidia Corp's stock is trading higher due to the artificial intelligence boom, with its sales forecast upgrade helping it reach a market cap of over $1 trillion. Demand for its latest chips is expected to outstrip supply until 2024. Startups like SambaNova, Graphcore, and Tenstorrent are struggling to catch up, despite raising billions. Advanced Micro Devices and Intel Corp are seen as more likely to take market share from Nvidia. Nvidia has recovered from a setback due to Taiwan Semiconductor Manufacturing Company's lackluster Q2 results.

Portfolio Pulse from Anusuya Lahiri

July 21, 2023 | 2:29 pm

IPG

Interpublic Group of Companies Inc (NYSE:IPG) shares dropped by around 9% after the company reported Q2 2023 results. The company missed the consensus revenue of $2.39 billion, reporting $2.33 billion instead. Adjusted EBITA fell to $330.2 million from $370.1 million a year ago, with margins contracting to 14.2% from 15.6%. However, adjusted EPS of $0.74 exceeded the consensus of $0.60. IPG also lowered its 2023 organic revenue growth guidance to 1% to 2% from 2% to 4%.

Portfolio Pulse from Lekha Gupta

July 21, 2023 | 2:26 pm

ALV

DWAC

ETSY

EVLO

FOR

HYZN

INTR

MATX

PKX

SCHL

SFBS

SGHT

SIFY

STOK

UHG

WNS

ZTS

Several US stocks traded higher on Friday, with notable gains for Digital World Acquisition Corp. (DWAC), Evelo Biosciences (EVLO), ServisFirst Bancshares (SFBS), Scholastic Corporation (SCHL), Matson (MATX), POSCO Holdings (PKX), Sight Sciences (SGHT), Autoliv (ALV), Stoke Therapeutics (STOK), Hyzon Motors (HYZN), Inter & Co (INTR), Sify Technologies (SIFY), United Homes Group (UHG), Forestar Group (FOR), Etsy (ETSY), WNS (Holdings) (WNS), and Zoetis (ZTS). Reasons for the gains include settlements with the SEC, termination of sublease agreements, upbeat Q2 results, stock repurchase programs, and analyst upgrades.

Portfolio Pulse from Lisa Levin

July 21, 2023 | 2:23 pm

TSLA

Tesla Inc's Cybertruck has been spotted with a new darker camouflage wrap, sparking rumors among industry observers. This follows the initial discovery of a Cybertruck in camouflage wrap last month. Automakers often use camouflage on their vehicles as they approach the production stage. Tesla recently announced it had built the first Cybertruck, but clarified in its second-quarter earnings that it was currently only producing release candidates.

Portfolio Pulse from Benzinga EV Insights

July 21, 2023 | 2:22 pm

ROP

Roper Technologies reported better-than-expected Q2 financial results and issued Q3 adjusted EPS guidance. The company also raised its FY23 adjusted EPS guidance above the consensus estimate, leading to a rise in its share price.

Portfolio Pulse from Benzinga Newsdesk

July 21, 2023 | 2:19 pm

SLB

Schlumberger's Q2 revenue results were worse than expected, leading to a decrease in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

July 21, 2023 | 2:19 pm