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ZION

Zions Bancorp reported its Q2 earnings results, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 10:13 am

TFC

Truist Finl (NYSE:TFC) reported Q2 earnings of $0.92 per share, missing the analyst consensus estimate of $1.01 by 8.91%. This is a 15.6% decrease from the same period last year. The company also reported quarterly sales of $5.97 billion, missing the analyst consensus estimate of $5.99 billion by 0.30%. This is a 5.09% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 10:07 am

HCCI

Heritage-Crystal Clean Inc (NASDAQ:HCCI) is set to be acquired by an investment affiliate of J.F. Lehman & Company (JFLCO) in a $1.2 billion all-cash deal. The purchase price represents a 24.9% premium to Crystal Clean's 60-day volume-weighted average price on July 19. Post-acquisition, Crystal Clean will become a privately held company and its shares will no longer be listed on the Nasdaq Stock Exchange. The transaction is expected to close in Q4 2023.

Portfolio Pulse from Shivani Kumaresan

July 20, 2023 | 9:55 am

OMCL

Wells Fargo analyst Stan Berenshteyn has downgraded Omnicell (NASDAQ:OMCL) from Overweight to Underweight and lowered the price target from $65 to $56.

Portfolio Pulse from richadhand@benzinga.com

July 20, 2023 | 9:55 am

CAR

Deutsche Bank analyst Chris Woronka has downgraded Avis Budget Gr (NASDAQ:CAR) from Buy to Hold and set a price target of $263.

Portfolio Pulse from richadhand@benzinga.com

July 20, 2023 | 9:50 am

RELL

Richardson Electronics Ltd (RELL) shares fell by around 10% after the company reported a Q4 FY23 earnings miss. Net sales fell 4.5% Y/Y to $58.8 million, missing the consensus of $61.5 million. Revenues declined across Power and Microwave Technologies (PMT) and Canvys business units, partly offset by higher revenues from Green Energy Solutions (GES) business. The company declared a quarterly cash dividend per share of $0.06 to holders of common stock and $0.054 to holders of Class B common stock.

Portfolio Pulse from Lekha Gupta

July 20, 2023 | 9:49 am

GS

MSFT

NFLX

TSLA

The S&P 500 closed higher on Wednesday, with shares of Goldman Sachs gaining around 1% after releasing Q2 results. Tesla reported better-than-expected earnings and sales for Q2, but operating margin narrowed. Netflix reported upbeat Q2 earnings, but sales missed expectations. The Dow recorded gains for the eight straight session. The Nasdaq 100 slipped 0.1% amid decline in shares of Tesla and Microsoft.

Portfolio Pulse from Lisa Levin

July 20, 2023 | 9:43 am

EFX

Equifax Inc (NYSE:EFX) reported Q2 2023 revenues of $1.318 billion, flat Y/Y and up 1% Y/Y in constant currencies. The company's Workforce Solutions revenues declined 4% Y/Y to $582.8 million due to the challenging mortgage and hiring market. Adjusted EPS declined 18% Y/Y to $1.71, above the consensus of $1.67. For 2023, Equifax reduced the outlook for revenues to $5.270 billion to $5.330 billion and adjusted EPS to $6.85-$7.10. The company lowered guidance to reflect the expected impact of weaker-than-expected U.S. mortgage originations and lower mortgage revenue.

Portfolio Pulse from Lekha Gupta

July 20, 2023 | 9:40 am

TSLA

Despite reporting strong Q2 results with earnings per share of $0.91 and revenue of $24.93 billion, both surpassing estimates, Tesla, Inc. (NASDAQ:TSLA) shares dipped in premarket trading. The company's management expressed optimism about the future, citing the upcoming Cybertruck launch and reaffirming the goal of 1.8 million annual deliveries. However, concerns were raised about the role of other income in boosting results and a decline in the company's energy segment revenue. The stock fell 2.87% to $282.90 in premarket trading.

Portfolio Pulse from Shanthi Rexaline

July 20, 2023 | 9:40 am

CVNA

RBC Capital analyst Brad Erickson has downgraded Carvana (NYSE:CVNA) from Sector Perform to Underperform, while raising the price target from $9 to $30.

Portfolio Pulse from richadhand@benzinga.com

July 20, 2023 | 9:39 am