Streetbeat News

Stock Prices

CRH

NGVT

PKG

RS

SEE

The article lists five materials stocks that are considered overbought and could potentially negatively impact portfolios. The stocks are CRH plc, Ingevity Corporation, Packaging Corporation of America, Sealed Air Corporation, and Reliance Steel & Aluminum Co. 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 27, 2023 | 12:26 pm

BCS

Barclays PLC (NYSE:BCS) shares are down by around 4% after the company reported Q2 2023 results. Total income fell 6% Y/Y to £6.3 billion, with operating expenses rising 21% Y/Y. The company saw growth in Barclays UK income (+14% Y/Y) but a decline in Barclays International (-13% Y/Y). The bank disclosed H1 2023 dividend of 2.7p and a share buyback worth £750 million. For 2023, BCS continues to expect loan loss rate of 50-60bps and return on tangible equity of above 10%.

Portfolio Pulse from Lekha Gupta

July 27, 2023 | 12:26 pm

OC

Owens Corning Inc (NYSE:OC) reported better-than-expected Q2 results, with net sales of $2.56 billion and adjusted EPS of $4.22, beating consensus estimates. Following the announcement, RBC Capital and Barclays increased their price targets on Owens Corning and upgraded the stock's rating.

Portfolio Pulse from Lisa Levin

July 27, 2023 | 12:22 pm

META

Meta Platforms, Inc. (NASDAQ:META) reported better-than-expected Q2 results with revenue of $32 billion, up 11% YoY, beating the Street consensus estimate of $31.12 billion. EPS was $2.98, surpassing the estimate of $2.91. Following the announcement, Meta shares surged 10.1% in pre-market trading. Analysts from Wells Fargo and Barclays raised their price targets on Meta.

Portfolio Pulse from Lisa Levin

July 27, 2023 | 12:13 pm

AMZN

HAL

RBLX

UAL

Insiders at Amazon, Roblox, United Airlines, and Halliburton have recently sold shares. Amazon's CEO of Web Services sold 1,000 shares following a 15% reduction in the purchase consideration for iRobot's takeover. Roblox's Director sold 8,333 shares amid a data breach that exposed sensitive information of creators. United Airlines' EVP and CFO sold 4,491 shares after reporting better-than-expected Q2 results and strong FY23 guidance. Halliburton's Senior VP of Tax sold 10,000 shares after Q2 revenue growth missed consensus.

Portfolio Pulse from Lisa Levin

July 27, 2023 | 12:12 pm

GWW

W.W. Grainger has raised the mid-point of its FY23 net sales guidance to $16.4 billion-$16.8 billion, up from the previous estimate of $16.2 billion-$16.8 billion. The company also expects FY23 EPS to be between $35.00 and $36.75, compared to the previous range of $34.25 to $36.75.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 12:11 pm

TRS

TriMas Corporation has revised its FY23 consolidated sales growth outlook downwards from 10%-15% to 5%-10%.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 12:10 pm

CMG

Chipotle Mexican Grill, Inc. (NYSE:CMG) missed Q2 revenue estimates but beat earnings per share estimates. The company expects Q3 comparable restaurant sales growth to be in the low to mid-single-digit range. Following the earnings announcement, several analysts revised their price targets on Chipotle. Shares fell 8.3% in pre-market trading.

Portfolio Pulse from Lisa Levin

July 27, 2023 | 12:07 pm

PATK

Patrick Industries reported a 38% decrease in revenue, primarily due to a 44% reduction in RV industry wholesale unit shipments.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 12:07 pm

CLS

YELL

Shares of Celestica Inc. surged 42.2% in pre-market trading following better-than-expected Q2 results. Other gainers include Carmell Therapeutics, Mallinckrodt, ENGlobal Corporation, Genesis Unicorn Capital Corp., Enovix Corporation, Lixte Biotechnology Holdings, Cingulate Inc., Helix Energy Solutions Group, and Meta Platforms. On the other hand, Yellow Corporation fell 24% in pre-market trading as it prepares to file for bankruptcy. Other losers include TPI Composites, National Vision Holdings, LendingClub Corporation, Oceaneering International, Impinj, MaxLinear, Silicon Motion Technology Corporation, POSCO Holdings, and Tango Therapeutics.

Portfolio Pulse from Lisa Levin

July 27, 2023 | 12:06 pm