Fidelity Covington Trust Fidelity Sustainable High Yield ETF (ARCA: FSYD)

Latest news for Fidelity Covington Trust Fidelity Sustainable High Yield ETF (ARCA:FSYD)

Normally investing at least 80 percent of the funds assets in debt securities rated below investment grade (also referred to as high yield debt securities or junk bonds) of issuers that Fidelity Management & Research Company LLC (FMR or Adviser) believes have proven or improving sustainability practices based on an evaluation of such issuers' individual environmental, social and governance (ESG) profile.

Fidelity Sustainable High Yield ETF

Fidelity Covington Trust Fidelity Sustainable High Yield ETF

Comfort Systems USA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FIX#NYSE">FIX</a>) reported quarterly earnings of $3.74 per share which beat the analyst consensus estimate of $3.14 by 19.11 percent. The company reported quarterly sales of $1.810 billion which beat the analyst consensus estimate of $1.688 billion by 7.26 percent. This is a 39.62 percent increase over sales of $1.296 billion the same period last year.

Earnings

Earnings Beats

News

Comfort Systems USA Q2 2024 GAAP EPS $3.74 Beats $3.14 Estimate, Sales $1.810B Beat $1.688B Estimate

Columbia Sportswear (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COLM#NASDAQ">COLM</a>) reported quarterly losses of $(0.20) per share which beat the analyst consensus estimate of $(0.34) by 41.18 percent. The company reported quarterly sales of $570.20 million which beat the analyst consensus estimate of $568.29 million by 0.34 percent. This is a 8.17 percent decrease over sales of $620.93 million the same period last year.

COLM

Columbia Sportswear Q2 2024 Adj EPS $(0.20) Beats $(0.34) Estimate, Sales $570.20M Beat $568.29M Estimate

Zynex (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZYXI#NASDAQ">ZYXI</a>) reported quarterly earnings of $0.04 per share which missed the analyst consensus estimate of $0.08 by 50 percent. This is a 55.56 percent decrease over earnings of $0.09 per share from the same period last year. The company reported quarterly sales of $49.88 million which missed the analyst consensus estimate of $52.09 million by 4.24 percent. This is a 10.97 percent increase over sales of $44.95 million the same period last year.

ZYXI

Zynex Q2 EPS $0.04 Misses $0.08 Estimate, Sales $49.88M Miss $52.09M Estimate

Boyd Gaming (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BYD#NYSE">BYD</a>) reported quarterly earnings of $1.58 per share which beat the analyst consensus estimate of $1.49 by 6.04 percent. This is unchanged from the same period last year. The company reported quarterly sales of $967.51 million which beat the analyst consensus estimate of $909.06 million by 6.43 percent. This is a 5.51 percent increase over sales of $916.95 million the same period last year.

Boyd Gaming Q2 Adj $1.58 Beats $1.49 Estimate, Sales $967.51M Beat $909.06M Estimate

Digital Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DLR#NYSE">DLR</a>) reported quarterly earnings of $0.20 per share which missed the analyst consensus estimate of $0.24 by 16.67 percent. The company reported quarterly sales of $1.40 billion which beat the analyst consensus estimate of $1.38 billion by 1.33 percent. This is a 2.47 percent increase over sales of $1.37 billion the same period last year.

Earnings Misses

Digital Realty Trust Q2 2024 Adj EPS $0.20 Misses $0.24 Estimate, Sales $1.40B Beat $1.38B Estimate

Fortune Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBIN#NYSE">FBIN</a>) reported quarterly earnings of $1.16 per share which beat the analyst consensus estimate of $1.12 by 3.57 percent. This is a 8.41 percent increase over earnings of $1.07 per share from the same period last year. The company reported quarterly sales of $1.24 billion which missed the analyst consensus estimate of $1.28 billion by 3.13 percent. This is a 6.53 percent increase over sales of $1.16 billion the same period last year.

FBIN

Fortune Brands Q2 Adj $1.16 Beats $1.12 Estimate, Sales $1.24B Miss $1.28B Estimate

Cincinnati Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CINF#NASDAQ">CINF</a>) reported quarterly earnings of $1.29 per share which beat the analyst consensus estimate of $0.96 by 34.38 percent. This is a 6.61 percent increase over earnings of $1.21 per share from the same period last year.

CINF

Cincinnati Financial Q2 2024 Adj EPS $1.29 Beats $0.96 Estimate

BJ's Restaurants (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BJRI#NASDAQ">BJRI</a>) reported quarterly earnings of $0.72 per share which beat the analyst consensus estimate of $0.51 by 41.18 percent. The company reported quarterly sales of $349.00 million which missed the analyst consensus estimate of $349.39 million by 0.11 percent. This is a 0.19 percent decrease over sales of $349.67 million the same period last year.

BJRI

BJ's Restaurants Q2 2024 Adj EPS $0.72 Beats $0.51 Estimate, Sales $349.00M Miss $349.39M Estimate

Keybanc analyst Bradley Thomas maintains PROG Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRG#NYSE">PRG</a>) with a Overweight and raises the price target from $44 to $46.

Price Target

Analyst Ratings

Keybanc Maintains Overweight on PROG Holdings, Raises Price Target to $46

Texas Roadhouse (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXRH#NASDAQ">TXRH</a>) reported quarterly earnings of $1.79 per share which beat the analyst consensus estimate of $1.63 by 9.82 percent. The company reported quarterly sales of $1.341 billion which beat the analyst consensus estimate of $1.338 billion by 0.19 percent. This is a 14.52 percent increase over sales of $1.171 billion the same period last year.

TXRH

Texas Roadhouse Q2 2024 GAAP EPS $1.79 Beats $1.63 Estimate, Sales $1.341B Beat $1.338B Estimate

GameStop Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) saw a slight drop in its share price on Thursday. Here&#8217;s <a href="https://www.benzinga.com/quote/GME/analyst-ratings">what you need to know.</a>
What To Know: Institutional investors have largely taken a bearish stance on GME, with 21 uncommon options trades. Out of these trades, 90% were bearish, including 9 put options totaling $416,979 and 12 call options amounting to $476,016.
This sentiment mirrors recent activity in AMC Entertainment Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>), where a boost in the stock price followed <a href="https://www.benzinga.com/news/24/07/39968468/whats-going-on-with-amc-entertainment-stock-on-thursday">Imax Corp's upbeat earnings.</a> Both GME and AMC have seen significant options trading.
GameStop&#8217;s price targets range from $10 to $125, while AMC&#8217;s stock has benefited from Imax&#8217;s strong performance and a bullish outlook on movie-going.
<h3 class="wp-block-heading">Will GameStop Shares Go Up?</h3>
When trying to assess whether or not GameStop Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) will trade higher from current levels, it's a good idea to take a look at analyst forecasts. 
Wall Street analysts have an average 12-month price target of $9 on GameStop. The Street high target is currently at $11 and the Street low target is $7. Of all the analysts covering GameStop, no one has positive ratings, no one has neutral ratings and two have negative ratings.
In the last month, no analysts have adjusted price targets. Here's a look at recent price target changes <a href="https://www.benzinga.com/quote/GME/analyst-ratings">[Analyst Ratings]</a>. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering GameStop have performed in recent history. 
Stocks don't move in a straight line. The average stock market return is approximately 10% per year. GameStop is 8.82% up year-to-date. The average analyst price target suggests the stock could have further downside ahead.
For a broad overview of everything you need to know about GameStop, visit <a href="https://www.benzinga.com/quote/GME">here</a>. If you want to go above and beyond, there's no better tool to help you do just that than <a href="https://pro.benzinga.com/">Benzinga Pro</a>. Start your free trial today.
GME Price Action: GameStop finished 0.25% lower at $23.95 on Thursday, according to<a href="https://pro.benzinga.com/dashboard"> Benzinga Pro.</a>
<figure class="wp-block-image size-large is-resized"><a href="https://www.benzinga.com/pro/checkout/benzinga-pro-essential-2024?utm_source=BZprocontent072524&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="1024" height="540" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25152913/GME-1-1024x540.png" alt="" class="wp-image-457804" style="width:454px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25152913/GME-1-1024x540.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25152913/GME-1-300x158.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25152913/GME-1-768x405.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25152913/GME-1.png 1105w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
See Also:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39968468/whats-going-on-with-amc-entertainment-stock-on-thursday">What&#8217;s Going On With AMC Entertainment Stock On Thursday?</a></li>
</ul>
Image Via Shutterstock.

Entertainment

Topics

What's Going On With GameStop Shares Today?

Norfolk Southern (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NSC#NYSE">NSC</a>) reported quarterly earnings of $3.06 per share which beat the analyst consensus estimate of $2.86 by 6.99 percent. This is a 3.73 percent increase over earnings of $2.95 per share from the same period last year.

Norfolk Southern Q2 Adj $3.06 Beats $2.86 Estimate; Reaffirms Full-Year Adjusted Operating Ratio Guidance

Elliott has engaged in direct dialogue with Southwest&#39;s Board on the scale and urgency of change needed at the Company.&nbsp;&nbsp;&quot;Southwest can do far better, and we look forward to offering our fellow shareholders an opportunity to elect a Board of industry leaders that can return Southwest to best-in-class performance.&quot;

Elliott Comments On Southwest Airlines' Revenue Enhancement Initiatives; Says Revenue-enhancement Initiatives Comes More Than A Decade Late

In Tuesday&#8217;s second-quarter earnings call, Spotify Technology SA&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) CEO Daniel Ek and interim CFO Ben Kung hinted at the possibility of future price increases, despite not providing a <a href="https://www.benzinga.com/topic/business-of-music">concrete timeline. </a>
This comes on the heels of substantial hikes in 2023 and 2024, where the price of an individual plan in the U.S. rose from $9.99 to $11.99 per month.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39937831/spotify-smashes-gross-margin-guidance-analysts-expect-continued-momentum">Spotify Smashes Gross Margin Guidance, Analysts Expect &#8216;Continued Momentum&#8217;</a>
<h3 class="wp-block-heading">Subscribers Stay Despite Price Hikes</h3>
Spotify&#8217;s strategic decision to raise prices did not result in subscriber loss or revenue decline. In the second quarter of 2024, Spotify added 7 million new subscribers, surpassing its own expectations by 1 million. 
The company reported a revenue of €3.8 billion ($4.15 billion), marking a 20% year-over-year increase. These gains helped Spotify swing from a €247 million ($269 million) operating loss in Q2 2023 to a €266 million ($290 million) operating profit in Q2 2024.
<a href="https://www.billboard.com/pro/spotify-signals-price-increases-in-future/">According</a> to Billboard, Ek said that the company saw &#8220;less churn in this round of increases than we did in our prior one, which was already very low by any measure.&#8221; Kung added that churn rates following the recent price hikes were &#8220;better than expected.&#8221;
<h3 class="wp-block-heading">Enhanced Value and Retention</h3>
Ek attributes the low churn rates to the enhanced value Spotify has delivered over the years. The streaming giant has evolved into a comprehensive audio platform, adding popular features like the year-end Wrapped recap and Discovery Weekly playlists. 
The company&#8217;s significant investments in podcasts and audiobooks have also broadened its appeal. Ek added: &#8220;Access to all of this content would cost a user approximately $26 — significantly more than a Spotify subscription. Spotify remains a pretty outstanding deal.&#8221;
<h3 class="wp-block-heading">Engagement Fuels Future Increases</h3>
Subscriber engagement remains crucial for Spotify&#8217;s strategy. Kung noted: &#8220;The most important thing in the near term is just making sure that audiobooks are driving incremental engagement for the platform, and we're seeing this happening in a way that makes us feel good about the path that we're on here.&#8221;
Ek also suggested that developing markets, which currently favor ad-supported listening, show high engagement levels that could justify future price increases. &#8220;The high engagement in [developing] markets gives us tremendous confidence in our ability to raise prices,&#8221; he said.
<h3 class="wp-block-heading">The HiFi Experience</h3>
Spotify is also targeting a subset of subscribers willing to pay more for an enhanced experience. After initially announcing a high-quality audio tier called HiFi in 2021 and subsequently delaying it, Ek confirmed its impending launch. &#8220;
The plan here is to offer a much better version of Spotify,&#8221; he stated. This premium tier is expected to be priced around $17-$18 per month, offering superior control and quality.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/entertainment/24/07/39822609/latin-music-and-physical-albums-thrive-here-are-the-latest-2024-industry-trends">Latin Music And Physical Albums Thrive, Here Are The Latest 2024 Industry Trends</a></li>
</ul>
Image credits: <a href="https://www.shutterstock.com/es/g/DiegoThomazini">Diego Thomazini</a> on Shutterstock.

General

SPOT

What's Next For Spotify? More Price Hikes Could Be Coming After Strong Q2 Performance

Data I/O (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAIO#NASDAQ">DAIO</a>) reported quarterly losses of $(0.09) per share which missed the analyst consensus estimate of $(0.01) by 800 percent. The company reported quarterly sales of $5.062 million which missed the analyst consensus estimate of $6.310 million by 19.78 percent. This is a 31.58 percent decrease over sales of $7.398 million the same period last year.

DAIO

Data I/O Q2 2024 GAAP EPS $(0.09) Misses $(0.01) Estimate, Sales $5.062M Miss $6.310M Estimate

First Interstate BancSys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIBK#NASDAQ">FIBK</a>) reported quarterly earnings of $0.58 per share which beat the analyst consensus estimate of $0.55 by 5.45 percent.

FIBK

First Interstate BancSys Q2 2024 Adj EPS $0.58 Beats $0.55 Estimate

Keybanc analyst Alex Markgraff maintains Fiserv (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FI#NYSE">FI</a>) with a Overweight and raises the price target from $170 to $180.

Keybanc Maintains Overweight on Fiserv, Raises Price Target to $180

Columbia Banking System (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COLB#NASDAQ">COLB</a>) reported quarterly earnings of $0.67 per share which beat the analyst consensus estimate of $0.57 by 17.54 percent. The company reported quarterly sales of $472.152 million which missed the analyst consensus estimate of $475.953 million by 0.80 percent. This is a 9.83 percent decrease over sales of $523.653 million the same period last year.

COLB

Columbia Banking System Q2 2024 Adj EPS $0.67 Beats $0.57 Estimate, Sales $472.152M Miss $475.953M Estimate

McGrath RentCorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGRC#NASDAQ">MGRC</a>) reported quarterly earnings of $0.84 per share which missed the analyst consensus estimate of $1.10 by 23.64 percent. The company reported quarterly sales of $212.600 million which beat the analyst consensus estimate of $210.234 million by 1.13 percent. This is a 4.71 percent increase over sales of $203.030 million the same period last year.

MGRC

McGrath RentCorp Q2 2024 GAAP EPS $0.84 Misses $1.10 Estimate, Sales $212.600M Beat $210.234M Estimate

Japanese Patent Office Approves Inventiva's Patent For Use Of Lanifibranor In Treating Cirrhosis, Strengthening IP For MASH/NASH Indications; Patent Valid Until November 2039