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IBM

IBM reported Q2 earnings of $2.18 per share, beating the $2.01 estimate, but missed revenue estimates with $15.47 billion against the $15.57 billion consensus. The company's net cash from operating activities is up $1.8 billion to $6.4 billion, and free cash flow is up $100 million to $3.4 billion. IBM expects full-year 2023 free cash flow at $10.5 billion. The company ended Q2 with $16.3 billion in cash and marketable securities, up $7.5 billion from year-end 2022. IBM's shares traded 0.89% higher to $135.48 at market close, but fell 0.87% in after-hours trading.

Portfolio Pulse from AJ Fabino

July 19, 2023 | 8:45 pm

NFLX

Netflix reported mixed Q2 results and issued soft Q3 sales guidance, leading to a drop in its share price. The company also expects lower cash content spend in 2023 due to timing of production starts and ongoing WGA and SAG-AFTRA strikes.

Portfolio Pulse from Bill Haddad

July 19, 2023 | 8:43 pm

STLD

Steel Dynamics has expressed confidence that market conditions are favorable for solid domestic steel consumption.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2023 | 8:34 pm

HCCI

Heritage-Crystal Clean (HCCI) is set to be acquired by J.F. Lehman & Company for $1.2 billion. Shareholders will receive $45.50 per share as part of the deal.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2023 | 8:33 pm

STLD

Steel Dynamics (NASDAQ:STLD) reported Q2 earnings of $4.81 per share, down from $6.44 per share last year. Quarterly sales were $5.08 billion, missing the analyst consensus estimate of $5.57 billion by 8.78 percent. This represents an 18.22 percent decrease over sales of $6.21 billion the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2023 | 8:32 pm

LBTYA

Liberty Global plc (NASDAQ:LBTYA, LBTYB and LBTYK) has announced the acquisition of 93.23% of Telenet Group Holding NV through its subsidiary, Liberty Global Belgium Holding B.V. The initial acceptance period of the voluntary and conditional public takeover bid ended on 12 July 2023, with 34,676,001 shares of Telenet tendered. The offer will be reopened on 24 August 2023 for shareholders who have not yet accepted the offer.

Portfolio Pulse from Happy Mohamed

July 19, 2023 | 8:31 pm

UAL

United Airlines Holdings, Inc. (NASDAQ:UAL) reported Q2 earnings of $5.03 per share, beating the analyst consensus estimate of $4.03. The company also reported quarterly sales of $14.18 billion, surpassing the analyst consensus estimate of $13.91 billion. UAL's Q2 capacity was up 17.5% YoY, and TRASM was down 0.4%. The company issued full-year 2023 EPS guidance of $11 to $12, beating the $9.73 analyst estimate.

Portfolio Pulse from Ryan Gustafson

July 19, 2023 | 8:31 pm

FCX

Freeport-McMoRan (NYSE:FCX) has outperformed the market over the past 5 years, producing an average annual return of 20.41%. An investment of $1000 in FCX 5 years ago would be worth $2,570.80 today.

Portfolio Pulse from Benzinga Insights

July 19, 2023 | 8:30 pm

MSCI

MSCI Inc.'s stock has increased by 7.01% over the past month and 13.57% over the past year. The company's P/E ratio of 46.09 is lower than the Capital Markets industry average of 64.88, which could indicate that the stock is undervalued or that it might perform worse than its industry peers. The P/E ratio is a tool for investors to evaluate a company's market performance, but it should be used with caution and alongside other financial ratios, industry trends, and qualitative factors.

Portfolio Pulse from Benzinga Insights

July 19, 2023 | 8:30 pm

TSLA

Tesla Inc (NASDAQ:TSLA) reported Q2 financial results with revenue of $24.93 billion, up 47% YoY, beating the Street consensus estimate of $24.48 billion. The company also reported a profit of 91 cents per share, beating the estimate of 82 cents per share. However, operating margins were lower than previous quarters at 9.6%, and gross margins were 18.2%, lower than the 25% reported a year ago. The company ended the quarter with $184 million in digital assets. Tesla also highlighted its progress on the Cybertruck, which remains on track for initial deliveries this year.

Portfolio Pulse from Chris Katje

July 19, 2023 | 8:28 pm