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DIS

NFLX

WBD

Netflix's Q2 results show strong growth in advertising and global subscribers, with revenue and earnings surpassing estimates. The company gained 8.05 million net paid customers, reaching nearly 278 million subscribers. Netflix's Q3 revenue guidance is below Wall Street's estimates, but it increased its full-year revenue guidance. The company is focusing on monetizing its ad inventory and using AI to enhance content discovery.

Portfolio Pulse from Upwallstreet

July 23, 2024 | 11:33 am

BRK

BYDDY

TSM

Berkshire Hathaway has reduced its stake in BYD Company to below 5%, indicating a shift in focus towards U.S. investments. This move follows a gradual reduction in BYD holdings since August 2022. Berkshire also sold its entire stake in Taiwan Semiconductor Manufacturing Company earlier this year.

Portfolio Pulse from Shivani Kumaresan

July 23, 2024 | 11:32 am

HCA

HCA Healthcare shares are trading higher after the company reported better-than-expected Q2 financial results.

Portfolio Pulse from Benzinga Newsdesk

July 23, 2024 | 11:32 am

LMT

Lockheed Martin has provided its financial outlook for FY24, projecting net sales between $70.5 billion and $71.5 billion, which is below the estimated $72.4 billion. The company also expects diluted EPS to be in the range of $26.10 to $26.60, falling short of the $27.96 estimate.

Portfolio Pulse from Benzinga Newsdesk

July 23, 2024 | 11:31 am

ACRS

BOF

CRWE

IVFH

Insiders are buying shares of Aclaris Therapeutics, BranchOut Food, Innovative Food Holdings, and Crown Equity Holdings, indicating confidence in these companies. Notable transactions include significant purchases by directors and officers.

Portfolio Pulse from Avi Kapoor

July 23, 2024 | 11:31 am

HCA

HCA Healthcare reported Q2 2024 adjusted EPS of $5.50, beating the $4.88 estimate, and sales of $17.492 billion, surpassing the $17.046 billion estimate. This represents a 10.28% increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 23, 2024 | 11:31 am

CDZI

NFG

As of July 23, 2024, two utilities stocks, National Fuel Gas Co. (NYSE:NFG) and Cadiz Inc (NASDAQ:CDZI), are considered overbought based on their RSI values. NFG has an RSI of 70.48 and CDZI has an RSI of 71.99, indicating potential short-term price declines.

Portfolio Pulse from Avi Kapoor

July 23, 2024 | 11:31 am

LMT

Lockheed Martin (NYSE:LMT) reported Q2 2024 adjusted EPS of $6.85, beating the $6.46 estimate. Sales were $18.10 billion, surpassing the $17.04 billion estimate and marking an 8.43% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 23, 2024 | 11:30 am

GM

GM's Cruise is abandoning its plans for the pedal-less Origin autonomous vehicle and will focus on the next-generation Chevrolet Bolt for autonomous driving. This shift is due to regulatory uncertainties and cost optimization. Cruise reported a significant operating loss and restructuring costs for the first half of 2024.

Portfolio Pulse from Anan Ashraf

July 23, 2024 | 11:28 am

SPOT

Spotify Technology SA (NYSE:SPOT) reported a 20% year-on-year revenue growth for Q2 2024, reaching $4.099 billion, though it missed the analyst consensus estimate of $4.170 billion. EPS of $1.43 beat the estimate of $1.15. Premium revenue grew 21% year-over-year, driven by subscriber additions and ARPU increases. Total MAUs rose 14% to 626 million, with Premium subscribers at 246 million. Gross margin improved to 29.2%, and the company held 5.4 billion euros in cash. Spotify expects Q3 revenue of $4.31 billion, below the consensus of $4.37 billion. SPOT shares traded higher by 13.10% premarket.

Portfolio Pulse from Anusuya Lahiri

July 23, 2024 | 11:24 am