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CI

Cigna Corporation reported Q2 FY23 sales of $48.62 billion, up 7% Y/Y, beating the consensus of $47.13 billion. The company's medical cost ratio was 81.2%, slightly higher than 80.7% a year ago. Total premiums rose 6% to $11.04 billion and total medical customers grew 8% to 19.5 million. Revenue from Cigna's Evernorth unit rose nearly 10% to $38.21 billion. The adjusted EPS of $6.13, down from $6.20 a year ago, came above the Wall Street estimate of $5.98. Despite the positive report, Cigna shares are down 4.07% at $287.23.

Portfolio Pulse from Vandana Singh

August 04, 2023 | 1:48 pm

XRAY

Dentsply Sirona Inc (NASDAQ:XRAY) reported Q2 adjusted EPS of $0.51, beating the consensus of $0.43, and sales of $1.03 billion, beating the consensus of $992.15 million. The company raised its 2023 net sales outlook by $75 million. However, the company identified a material weakness in internal control over financial reporting. Despite the positive results, XRAY shares are down 4.70%.

Portfolio Pulse from Vandana Singh

August 04, 2023 | 1:47 pm

SPY

The ISM Non-Manufacturing PMI for July came in at 52.7, lower than the estimated 53 and the prior figure of 53.9.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 1:47 pm

AAPL

Ahead of Apple Inc's Q3 earnings, BofA Securities analyst Oleg Melentyev maintains a neutral rating with a price target of $210. App Store revenues and downloads have seen a Y/Y increase, with the gaming segment accounting for 55% of total App Store revenue. However, the analyst expects a modest beat in the quarter and a slightly weaker guide for total revenue in the September quarter. Apple shares traded lower by 0.32% at $191.97 on the last check Thursday.

Portfolio Pulse from Anusuya Lahiri

August 04, 2023 | 1:47 pm

RUN

Sunrun Inc's shares are trading higher after reporting mixed Q2 results. The company reported an EPS of 25 cents, surpassing the analyst consensus estimate of a loss of 34 cents. However, it missed the sales estimate of $621.86 million by 5.1%, generating $590.19 million. Key metrics show strong growth with 39,755 customer additions in Q2 2023 and a 20% increase in customers compared to the same period last year. Sunrun expects 10% to 15% growth in Solar Energy Capacity Installed for 2023.

Portfolio Pulse from Henry Khederian

August 04, 2023 | 1:47 pm

W

Wayfair's shares are trading higher after the company reported better than expected Q2 earnings.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 1:47 pm

AAPL

AMZN

GOOG

META

MSFT

NVDA

QCOM

QQQ

SPY

TSLA

Investors are pinning hopes on Apple (AAPL) and Amazon (AMZN) earnings to drive the stock market higher by stoking AI frenzy. AAPL is the largest and most popular stock and carries heavy weight in the indexes. Bullish investors are expecting AAPL stock to jump to about $210 after earnings. Qualcomm (QCOM), a major supplier of technology to all smartphones including Apple, stated on its conference call that it is seeing significant weakness in phone sales in China. Money flows are negative in the early trade in Apple, Amazon, Alphabet (GOOG), Meta Platforms (META), Microsoft (MSFT), NVIDIA (NVDA), and Tesla (TSLA). Money flows in the early trade in Invesco QQQ Trust Series 1 (QQQ), and SPDR S&P 500 ETF Trust (SPY) are negative.

Portfolio Pulse from The Arora Report

August 04, 2023 | 1:47 pm

CDAY

Ceridian HCM Holding reported better-than-expected Q2 financial results and issued Q3 and FY23 revenue guidance. Following the announcement, multiple firms raised their price targets on the stock, leading to a rise in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 1:47 pm

TIXT

TELUS Intl (NYSE:TIXT) is set to release its latest quarterly earnings report on August 4, 2023. Analysts estimate an earnings per share (EPS) of $0.15. The company's past performance shows a trend of share price changes following earnings reports. The company's shares are currently trading at $8.97, down 69.71% over the last 52-week period.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 1:47 pm

SO

Southern Company (NYSE:SO) reported a 20.3% YoY decline in Q2 FY23 operating revenue to $5.75 billion, missing the consensus of $6.82 billion. The decrease was attributed to lower fuel costs and milder weather. Adjusted EPS was $0.79, beating the consensus of $0.74. Operating income declined 22.1% YoY to $1.29 billion. The company reaffirmed its FY23 outlook, expecting an adjusted EPS of $3.55-$3.65. SO shares are trading lower by 1.72% at $69.75.

Portfolio Pulse from Akanksha Bakshi

August 04, 2023 | 1:46 pm