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UNP

Union Pacific reported Q2 earnings of $2.57 per share, missing the analyst consensus estimate of $2.75 by 6.55%. This is a 12.29% decrease from the same period last year. The company also reported quarterly sales of $5.96 billion, missing the analyst consensus estimate of $6.12 billion by 2.61%. This is a 4.93% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 11:47 am

HES

HESS Corporation has raised its FY23 production outlook to 385,000-390,000 boepd from the previous 365,000-375,000 boepd. The increase is primarily due to strong operational performance and the expected startup of the Payara development early in the fourth quarter.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 11:46 am

AWI

CRBU

DOV

GATX

GOOGL

LVLU

NTAP

NXPI

PHM

SPOT

Several analyst forecasts were released for Wednesday, with price target changes for Caribou Biosciences, Armstrong World Industries, Alphabet, General Electric, Spotify, Dover Corporation, NetApp, PulteGroup, NXP Semiconductors, Lulu's Fashion Lounge Holdings, and GATX Corporation. Most of the companies saw their price targets raised, with a few exceptions.

Portfolio Pulse from Lisa Levin

July 26, 2023 | 11:46 am

COIN

GOOGL

IRDM

MRNA

SNAP

SPOT

TSLA

The US market saw a decrease in volatility with the Fed decision in focus. Jim Cramer warned investors to be cautious with Alphabet's stock post-earnings. Cathie Wood's Ark Invest increased its stake in Moderna and bought Spotify and Iridium shares, while trimming Tesla and Coinbase holdings. In crypto, Dogecoin surpassed Cardano to become the 7th largest crypto and jumped 7% after Elon Musk shared a logo made by DOGE designer. AT&T is expected to report lower Q2 earnings. Snap's stock crashed premarket. Elon Musk's X Corp. reportedly reduced ad prices to attract brands on Twitter.

Portfolio Pulse from Akanksha Bakshi

July 26, 2023 | 11:43 am

BENF

BHRB

NCPL

PAYS

TCJH

The article lists the top 5 oversold financial stocks that may surge in Q3. These include Top KingWin Ltd (TCJH), Netcapital Inc. (NCPL), PaySign, Inc. (PAYS), Burke & Herbert Financial Services Corp. (BHRB), and Beneficient (BENF). The stocks are considered oversold as their Relative Strength Index (RSI) is near or below 30.

Portfolio Pulse from Lisa Levin

July 26, 2023 | 11:36 am

RIO

Rio Tinto PLC (NYSE:RIO) reported H1 2023 sales revenue of $26.7 billion, down 10% Y/Y. Iron-ore shipments from Pilbara increased by 7% Y/Y, while mined copper production fell 1% Y/Y. Underlying EBITDA fell to $11.7 billion from $15.6 billion, and underlying EPS fell 34% Y/Y to $3.52. The company's net debt stood at $4.35 billion as of June 30, 2023. RIO shares are trading lower by 2.16% at $68.30 premarket.

Portfolio Pulse from Lekha Gupta

July 26, 2023 | 11:33 am

HES

Hess Corporation (NYSE:HES) reported Q2 earnings of $0.65 per share, beating the analyst consensus estimate of $0.50 by 30%. The company's quarterly sales were $2.32 billion, surpassing the analyst consensus estimate of $2.09 billion by 11%. However, both earnings and sales have decreased compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 11:33 am

AT&T Inc (NYSE:T) reported Q2 FY23 operating revenues of $29.9 billion, up 0.9% YoY, slightly beating the consensus of $29.9 billion. Adjusted EPS of $0.63 also beat the consensus of $0.54. The company saw higher Mobility, Mexico, and Consumer Wireline revenues, offset by lower Business Wireline revenues. AT&T's adjusted EBITDA of $11.05 billion was up from $10.33 billion a year ago. The company remains confident in its FY23 guidance and expects to grow wireless service revenue by 4% or higher and Broadband revenue growth by 5% or higher.

Portfolio Pulse from Anusuya Lahiri

July 26, 2023 | 11:32 am

SPOT

Spotify Technology SA (NYSE:SPOT) reported a Q2 loss, with revenue growth of 11% YoY to $3.46 billion, missing the consensus of $3.57 billion. The company expects Q3 revenue of $3.78 billion. Following the earnings announcement, several analysts adjusted their price targets on Spotify. Goldman Sachs raised the price target from $156 to $163, Barclays from $180 to $182, Rosenblatt from $141 to $150, and Deutsche Bank upgraded Spotify from Hold to Buy with a $180 price target.

Portfolio Pulse from Lisa Levin

July 26, 2023 | 11:29 am

INTC

TSEM

Tower Semiconductor Ltd reported mixed Q2 results, following which its shares traded higher. The company is also a potential acquisition target for Intel Corp.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 11:24 am