Streetbeat News

Stock Prices

UNH

UnitedHealth Group Inc (NYSE:UNH) reported Q2 profits of nearly $5.5 billion, up 8% Y/Y, and sales of $92.9 billion, up almost 16% Y/Y, beating consensus estimates. Adjusted EPS of $6.14 increased 14% Y/Y, surpassing the consensus of $6.01. The company raised its FY23 net earnings outlook to $23.45-$23.75 per share and adjusted net earnings to $24.70-$25.00 per share. UNH shares are up 3.61% at $463.90 during premarket trading.

Portfolio Pulse from Vandana Singh

July 14, 2023 | 12:49 pm

CGC

Canopy Growth (NASDAQ:CGC) (TSX:WEED) shares dropped 19.07% in Friday's pre-market session after the company announced a series of agreements to deleverage its balance sheet. The agreements are expected to reduce the company's total debt by approximately $437 million over the next 6 months and lower annual interest costs by $20 to $30 million. The company will also preserve approximately $92 million in cash and reduce $100 million of principal indebtedness under the credit facility.

Portfolio Pulse from Vuk Zdinjak

July 14, 2023 | 12:49 pm

DAL

EADSY

Delta Air Lines has ordered 12 additional A220-300 aircraft from Airbus, bringing its total firm order to 131 A220s. Delta is currently the world's largest A220 customer and operator. The airline also raised its FY23 outlook in its recent Q2 results, with an EPS of $6 - $7, revenue growth of +17%-20%, an operating margin greater than 12%, and free cash flow of more than $3 billion.

Portfolio Pulse from Nabaparna Bhattacharya

July 14, 2023 | 12:48 pm

LVO

LiveOne (NASDAQ:LVO) has increased its stock repurchase program from $5M to $7.5M and entered into a non-binding Letter of Intent for a new $12.5M credit line. The company has repurchased 2.9 million shares since the start of its buyback program in April 2022. The new credit line and stock buyback are aimed at pursuing major acquisitions, strengthening the balance sheet, and fueling internal growth.

Portfolio Pulse from Benzinga Newsdesk

July 14, 2023 | 12:45 pm

WFC

Wells Fargo reported Q2 EPS of $1.25, beating the consensus of $1.15, with revenues of $20.53 billion, up 21% Y/Y. The company's profit surged 57% to $4.9 billion due to higher interest rates. The net interest income climbed 29% to $13.16 billion. Consumer and small business banking saw earnings of $6.6 billion, up 19% from last year. The company set aside $1.71 billion in provisions for credit losses in Q2, compared with $580 million a year ago. WFC shares are up 3.80% at $45.33 during the premarket session.

Portfolio Pulse from Vandana Singh

July 14, 2023 | 12:40 pm

CENN

Cenntro Electric Group has filed its annual report on Form 10-K, regaining compliance with Nasdaq's filing requirements. The company also plans to file its Q1-23 financial results in July 2023 and Q2-23 financial results in August 2023.

Portfolio Pulse from Benzinga Newsdesk

July 14, 2023 | 12:34 pm

AEI

EXPI

FPH

HOUS

ILPT

The article lists five real estate stocks that are considered overbought and may plunge in July. These include Alset Inc. (AEI), Industrial Logistics Properties Trust (ILPT), Anywhere Real Estate Inc. (HOUS), Five Point Holdings, LLC (FPH), and eXp World Holdings, Inc. (EXPI). The overbought status is determined by the Relative Strength Index (RSI), which is above 70 for all these stocks.

Portfolio Pulse from Lisa Levin

July 14, 2023 | 12:34 pm

SPY

The USA Import Price Index has reported a year-on-year decrease of 6.1%, which is significantly lower than the estimated decrease of 3.6% and the prior decrease of 5.9%.

Portfolio Pulse from Benzinga Newsdesk

July 14, 2023 | 12:31 pm

SPY

The Export Price Index for June has increased by 0.9%, which is higher than the estimated 0.2%.

Portfolio Pulse from Benzinga Newsdesk

July 14, 2023 | 12:30 pm

SPY

The USA Import Price Index for June has decreased by 0.2%, which is more than the estimated decrease of 0.1%, and less than the prior decrease of 0.6%.

Portfolio Pulse from Happy Mohamed

July 14, 2023 | 12:30 pm