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24x7Report > Blog > Finance > Beyond Meat, Chegg, PNC Financial, Dish and more
Finance

Beyond Meat, Chegg, PNC Financial, Dish and more

Last updated: 2023/08/08 at 5:30 PM
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Beyond Meat, Chegg, PNC Financial, Dish and more
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PNC Monetary, Residents Monetary, M&T Financial institution — Regional financial institution shares had been broadly below strain on Tuesday after Moody’s downgraded the credit score in a number of smaller establishments. The scores company additionally mentioned some bigger banks had been below evaluate for a downgrade. Shares of M&T Financial institution and Webster Monetary, which had their credit standing downgraded, fell by 2% every. Residents and PNC round 3% every after their scores had been placed on evaluate for a downgrade. Bigger financial institution shares, similar to Goldman Sachs and JPMorgan Chase, had been additionally decrease on the day.

Organon — The inventory superior 8% on better-than-expected earnings for the second quarter. The well being care firm reported earnings per share of $1.31. Analysts surveyed by StreetAccount anticipated 97 cents per share. Organon posted $1.61 billion in income, beating analysts’ expectations of $1.57 billion.

Past Meat — The plant-based meat firm fell 16% throughout noon buying and selling after lacking on second-quarter income, citing weak U.S. demand. Past Meat posted an adjusted lack of 83 cents per share on $102.1 million in income, whereas Refinitiv forecasted 86 cents and $108.4 million.

Chegg – The schooling expertise inventory added greater than 6%. Chegg reported second-quarter revenues of $183 million, topping the $177 million anticipated by analysts, per Refinitiv. The corporate additionally highlighted some AI-focused plans, assuaging some fears of the expertise’s rising menace to Chegg’s enterprise mannequin.

Novo Nordisk — Shares of the pharmaceutical rallied 18% after new trial information confirmed Novo Nordisk’s weight reduction drug Wegovy lower the danger of main cardiovascular occasions by 20%.

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EchoStar, Dish — Dish shares rallied greater than 8% after billionaire Charlie Ergen introduced he would consolidate his telecom empire, roughly 15 years after EchoStar was spun off. EchoStar shares slipped lower than 1%.

Datadog – Shares tanked 19% after the software program firm lower its full-year steerage. The corporate mentioned it now expects revenues to vary between $2.05 billion and $2.06 billion, versus a earlier vary of $2.08 billion to $2.10 billion.

Eli Lilly — Shares jumped 16% after on better-than-expected earnings within the second quarter. The corporate posted an adjusted $2.11 per share on income of $8.31 billion, whereas analysts polled by Refinitiv forecast earnings per share of $1.98 and $7.58 billion in income. Eli Lilly additionally raised its full-year steerage on sturdy gross sales from its diabetes remedy Mounjaro and different medicine. Moreover, Lilly bought a raise on Novo Nordisk’s cardiovascular examine displaying its weight problems drug was was extremely efficient. The examine might trigger insurers to cowl weight reduction medicine.

Palantir Applied sciences — The info analytics firm slid 7% after posting its second-quarter outcomes. Palantir reported earnings of 5 cents per share on income of $533 million, which got here out consistent with expectations from analysts polled by Refinitiv.

Fox Corp. — The media large gained 4.2% after reporting income that was consistent with the Avenue’s expectation. Fox’s income was $3.03 billion for the second quarter, matching expectations from analysts surveyed by FactSet. The corporate additionally raised its semi-annual dividend for Class A and Class B shares.

Worldwide Flavors & Fragrances — The inventory declined greater than 18% on second-quarter outcomes that missed analyst expectations. The perfume and cosmetics firm reported income of $2.93 billion, falling shorter than analysts’ estimates of $3.07 billion, based on StreetAccount. The corporate additionally lowered its steerage for the upcoming quarter, citing larger manufacturing absorption prices and decrease quantity pushed by buyer destocking.

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See Corp. — Shares of the packaging firm misplaced 7% after See missed income expectations for the second quarter. Sealed Air reported $1.38 billion in income, citing weak point in its finish markets, whereas analysts surveyed from FactSet anticipated $1.41 billion. The corporate additionally lowered its earnings and income steerage.

— CNBC’s Samantha Subin, Jesse Pound, Alex Harring and Hakyung Kim contributed reporting.

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TAGGED: Chegg, Dish, financial, Meat, PNC

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