Tesla Falls 7% on Profit Miss, Deutsche Bank Down 8% on Loss, Alphabet Drops 3% – Earnings Recap
24 Julho 2024 - 6:47AM
IH Market News
Tesla (NASDAQ:TSLA) – Tesla reported adjusted
earnings per share of 52 cents, below the expected 62 cents.
Revenue was $25.50 billion, surpassing the forecast of $24.77
billion. Automotive sales fell 7%, totaling $19.9 billion. Tesla
projects lower growth for 2024 and a focus on cost reduction.
Shares fell 7.3% pre-market.
Alphabet (NASDAQ:GOOGL) – Alphabet exceeded
second-quarter expectations with adjusted earnings per share of
$1.89 and revenue of $84.74 billion, while analysts tracked by LSEG
predicted $1.84 in revenue of $84.19 billion. Google Cloud earned
$10.35 billion, against the forecast of $10.20 billion. Search ad
revenue was $48.5 billion, higher than the forecast of $47.6
billion. YouTube revenue of $8.66 billion, despite increasing from
the previous quarter, was below the estimate of $8.93 billion.
Shares fell 3.2% pre-market.
Deutsche Bank (NYSE:DB) – In the second
quarter, Deutsche Bank reported a loss of 143 million euros, better
than the forecast of 145 million, due to a provision of 1.3 billion
euros (or 1.41 billion dollars) for a Postbank lawsuit. This was
the first quarterly loss after 15 quarters of profit. Investment
banking revenues rose 10%, but retail and corporate revenues fell.
Shares fell 8.2% pre-market.
Texas Instruments (NASDAQ:TXN) – Texas
Instruments reported earnings per share of $1.22, surpassing LSEG’s
consensus estimate of $1.17. The company’s revenue was $3.82
billion, in line with analysts’ forecasts. Shares rose 2.2%
pre-market.
Seagate Technology (NASDAQ:STX) – Seagate
reported earnings of $1.05 per share, excluding items, with revenue
of $1.89 billion. Analysts surveyed by LSEG estimated EPS of 75
cents and revenue of $1.87 billion. The company attributed its
stronger performance to an improvement in the cloud environment.
Shares rose 5.4% pre-market.
Visa (NYSE:V) – Visa reported adjusted earnings
of $2.42 per share, in line with expectations. Revenue was $8.90
billion, slightly below the estimate of $8.92 billion. Payment
volume grew 7%, and processed transactions increased 10%. The
company noted a slowdown in volume growth in the US in July
compared to June. Shares fell 2.6% pre-market.
Capital One Financial (NYSE:COF) – In the
second quarter, Capital One reported a 5% increase in revenue,
reaching $9.51 billion, below analysts’ expectations from LSEG.
Adjusted earnings per share were $3.14, below the consensus of
$3.42. The bank increased its reserves to cover potential credit
losses.
Chubb (NYSE:CB) – Chubb reported mixed results
in the second quarter. Adjusted earnings per share were $5.38,
surpassing the consensus estimate of $5.14 per share. Quarterly
revenue was $12.29 billion, below the consensus estimate of $13.04
billion.
Enphase Energy (NASDAQ:ENPH) – Enphase reported
adjusted earnings of 43 cents per share, 5 cents below LSEG’s
consensus estimates. Revenue was $304 million, short of analysts’
forecast of $310 million. However, the company reported
better-than-expected margins and projected third-quarter revenues
between $370 million and $410 million, exceeding analysts’ estimate
of $404 million. Shares rose 5.2% pre-market.
Mattel (NASDAQ:MAT) – In the second quarter,
Mattel reported adjusted earnings of 19 cents per share, above
analysts’ estimates from LSEG of 17 cents per share. Revenue was
$1.08 billion, slightly below the forecast of $1.1 billion. Mattel
reiterated its fiscal year outlook and highlighted its gross margin
expansion.
Cal-Maine Foods (NASDAQ:CALM) – In the fiscal
fourth quarter, Cal-Maine reported earnings of $2.32 per share,
below FactSet’s estimate of $2.41. Sales were $640.8 million, also
below the estimate of $652.3 million. The largest US egg producer
attributed the results to the avian flu outbreak, which impacted
its performance.
International Business Machines (NYSE:IBM) –
IBM’s second-quarter results will be released on Wednesday after
the market closes. IBM shares may benefit from low expectations as
the company navigates mixed demand for IT services. Analysts
predict revenue of $15.62 billion and adjusted earnings per share
of $2.18 for the second quarter. Shares fell 0.4% pre-market.
GE Vernova (NYSE:GEV) – GE Vernova’s
second-quarter results, expected to be released before the market
opens on Wednesday, may surprise, given the uncertainty. The
company, recently spun off from GE Aerospace, has no previous
results for comparison, increasing the difficulty of Wall Street’s
prediction. The expectation is that the company will report EBITDA
of $442 million and earnings per share of 73 cents, with sales of
$8.3 billion. Volatility is expected due to recent issues in the
Vineyard wind power project.
Chipotle Mexican Grill (NYSE:CMG) – Chipotle
will release its second-quarter results on Wednesday with
optimistic forecasts. Analysts expect earnings per share of 32
cents and revenues of $2.94 billion, as Chipotle restaurant visits
have increased significantly, indicating strong same-store sales
performance. Shares rose 0.5% pre-market.
Capital One Financial (NYSE:COF)
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