Earnings Reports

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Oil and gas servicing giant Halliburton reported better than expected second quarter earnings Tuesday before the market. Improved North American and international markets for drilling, completion, and production with $HAL's aggressive approach to cutting costs flowed through.

PNC Financial reported better than expected second quarter earnings before the bell on Wednesday. $PNC closed the BVA USA Bancshares acquisition June 1 and is the biggest driver of balance sheet growth this year. The Bank reported after Citigroup, Goldman Sachs, CitigroupWells Fargo  and JPMorgan

JPMorgan Chase, America's largest bank by assets reported better than expected second quarter earnings Tuesday before the open. Revenue of $30.5 billion beat expected $29.75 billion. $JPM’s fixed income and equities markets revenue fell from red hot first quarter. Investment banking had a record quarter. Goldman Sachs also reported. Bank of America, Citigroup, PNC and Wells Fargo report Wednesday.

Iconic farming, forestry and construction equipment maker Deere is now seen as a rare hybrid of industrials and tech or Ag Tech. $DE beat second quarter earnings before the open Friday.  Supply cain issues are in focus. ARK Invest sees it as a tech company adding it to ARKQ. 

Video game publisher Take-Two Interactive Software reported better than expected earnings Tuesday. NBA 2K21 and NBA 2K20, Grand Theft Auto Online and Grand Theft Auto V, Red Dead Redemption 2 and Red Dead Online, Social Point’s mobile games, Sid Meier’s Civilization VI, Borderlands 3, and NBA Online boosted $TTWO.

South Korean eCommerce company Coupang reported its first earnings report since it's IPO Wednesday. CPNG reported mixed results with higher revenue but on a much wider loss than expected. Total Active Customers continued to grow., up 21 percent year over year to 16 million.

Sound system technology company Sonos released better than expected second quarter earnings after the close Wednesday with the momentum of Home Theater smarter speaker Beam leading. After two large EPS misses, $SONOS has now reported three massive EPS beats in a row.

Uber Technologies reported worse than expected Q2 earnings with a smaller loss but on less revenue than expected. However the smaller loss was from a $1.6 billion gain from the sale of Uber’s self-driving unit. Uber’s Delivery business continues to carry the company. $UBER shares traded lower by 6.8% the miss.

Real Estate firm Zillow returned a profit for the first quarter versus a loss a year ago. $Z is benefiting from the housing boom where US March housing starts soared in March 19.4%, the highest reading since June of 2006. The median existing home price was the highest on record. 

Texas Instruments, the largest manufacturer of analog and embedded processors in America, traded sharply lower despite reporting better than expected 1Q21 results and 2Q21 guidance after the close Tuesday. Concern is over inventory levels becoming more depleted and its lead-times for some products extending.

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