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AEP

American Electric Power has reaffirmed its FY23 adjusted EPS guidance of $5.19-$5.39, which is in line with the estimated $5.27. The company also expects a long-term growth rate of 6%-7%.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 11:18 am

META

Shares of Meta Platforms, Inc. (NASDAQ:META) surged in premarket trading following the release of its Q2 results, which exceeded expectations. The company's revenue rose 11% to $32 billion, surpassing the $28.13 billion consensus estimate. The EPS of $2.98 also beat the $2.63 Street estimate. The company guided to Q3 revenue of $32 billion - $34.5 billion, higher than the consensus estimate of $28.29 billion. Several analysts have raised the price target for the stock.

Portfolio Pulse from Shanthi Rexaline

July 27, 2023 | 11:18 am

VLY

Valley National (NASDAQ:VLY) reported Q2 adjusted earnings of $0.28 per share, missing the analyst consensus estimate of $0.29 by 3.45%. This is a 12.5% decrease from the same period last year. The company also reported quarterly sales of $479.84 million, missing the analyst consensus estimate of $493.67 million by 2.80%. However, this is a 0.66% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 11:15 am

NEOG

Neogen Corporation has projected its FY24 revenue to be between $955M and $985M, surpassing the consensus estimate of $946.6M. The company also forecasts its adjusted EBITDA to be in the range of $235M-$255M.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 11:14 am

GNS

Genius Group received a warning letter from the NYSE regarding its disclosure practices related to events in March 2023. The NYSE also raised concerns about a statement made by the company's CEO on social media on June 28.

Portfolio Pulse from Charles Gross

July 27, 2023 | 11:13 am

OIS

Oil States International (NYSE:OIS) reported Q2 earnings of $0.01 per share, missing the analyst consensus estimate of $0.06 by 83.33%. The company also reported quarterly sales of $183.53 million, missing the analyst consensus estimate of $201.87 million by 9.09%. However, this represents a 112.5% increase in earnings and a 0.93% increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 11:10 am

GTX

Garrett Motion has raised its full year 2023 revenue outlook from $3.79B - $3.98B to $3.84B - $4.03B, against a $3.98B estimate. The company also increased its net sales growth, net income, adjusted EBITDA, net cash provided by operating activities, and adjusted free cash flow projections.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 11:10 am

BMY

Bristol Myers Squibb has revised its FY23 revenue forecast to a low single-digit decline, compared to a previous increase of 2%. The adjusted EPS is now expected to be $7.35-$7.65, down from the previous guidance of $7.95-$8.25. This is due to lower revenues for Revlimid and Pomalyst.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 11:08 am

AOS

A. O. Smith has raised its FY23 outlook, with sales expected to be between $3.75B and $3.83B, up from the previous estimate of $3.68B-$3.83B. The adjusted EPS is also expected to increase to $3.38-$3.53 from the previous $3.30-$3.50.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 11:08 am

AMBP

Ardagh Metal Packaging (AMBP) forecasts FY23 shipment growth in the mid-single digits and an adjusted EBITDA of $630M-$640M. The company also expects Q3 adjusted EBITDA to be between $170M-$175M.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 11:07 am