Streetbeat News

Earnings

GIS

Morgan Stanley analyst Pamela Kaufman has reiterated an Underweight rating on General Mills, Inc. (NYSE:GIS) and lowered the price target to $72 from $77 following mixed 4Q23 results. The analyst remains cautious about the company's long-term growth outlook due to weaker end markets and potential for demand elasticity from recent price increases. General Mills reported 4Q23 sales growth of 3% year-on-year to $5.03 billion, missing the analyst consensus of $5.17 billion. The company sees FY24 Organic net sales growth of 3% - 4%. The analyst also forecasts the risk of rising promotions as Mills is losing share in its categories.

Portfolio Pulse from Nabaparna Bhattacharya

June 29, 2023 | 6:06 pm

ISPR

Ispire Technology has raised its Q4 2023 revenue guidance for its cannabis vaping hardware, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

June 29, 2023 | 5:45 pm

LNN

Lindsay Corporation reported worse-than-expected Q3 financial results, leading to a drop in its share price.

Portfolio Pulse from Benzinga Newsdesk

June 29, 2023 | 5:31 pm

FTHWF

MSSTF

REUN

Reunion Neuroscience Inc. (NASDAQ:REUN) reported Q4 and full year 2023 financial results, showing a decrease in cash and cash equivalents, increased R&D and G&A expenses, and a net loss from continuing operations. The company's lead asset RE104 showed promising results in a Phase 1 analysis for the treatment of Postpartum Depression. Reunion also announced a take-private transaction by MPM BioImpact valued at approximately $13.1 million. The company faces financial risks including future expenses and expected losses, and IP risks including ongoing litigation with Mindset Pharma (OTC:MSSTF).

Portfolio Pulse from Lara Goldstein

June 29, 2023 | 5:22 pm

FUL

H. B. Fuller's shares are trading higher despite the company's worse-than-expected Q2 results and weak guidance. The stock is reversing after a fall.

Portfolio Pulse from Benzinga Newsdesk

June 29, 2023 | 4:53 pm

MU

Micron Technology's shares are trading lower after initially gaining post the release of its Q3 financial results.

Portfolio Pulse from Benzinga Newsdesk

June 29, 2023 | 4:46 pm

BTAI

GNLN

MKC

MOBQ

SGTX

U.S. stocks traded higher with the Dow Jones gaining more than 200 points. McCormick & Co Inc reported better-than-expected earnings for its second quarter. Sigilon Therapeutics shares shot up 516% after Eli Lilly agreed to acquire the company. Shares of Eco Wave Power Global and Franklin Covey Co. also rose significantly. However, shares of BioXcel Therapeutics, Greenlane Holdings, and Mobiquity Technologies fell.

Portfolio Pulse from Lisa Levin

June 29, 2023 | 4:41 pm

FTAI

FTAI Infrastructure has announced in an SEC filing that it expects to generate increasing annual adjusted EBITDA over time.

Portfolio Pulse from Happy Mohamed

June 29, 2023 | 4:14 pm

NNDM

Nano Dimension's shares are trading higher following the company's report of a year-over-year increase in Q1 financial results.

Portfolio Pulse from Benzinga Newsdesk

June 29, 2023 | 3:11 pm

AAPL

AMZN

DJIA

GOOG

META

MSFT

NVDA

QQQ

TSLA

The Nasdaq is set to finish the best first half of the year ever, driven by the AI frenzy and the performance of seven key stocks: Apple, Amazon, Alphabet, Meta Platforms, Microsoft, NVIDIA, and Tesla. The Nasdaq is up about 30% compared to only 2% for Global X Dow 30 Covered Call ETF and 14% for S&P 500. The Q1 GDP-third estimate came at 2.0% vs. 1.3% consensus, indicating a strong economy in the first quarter. Initial jobless claims came at 239K vs. 266K consensus, indicating a robust jobs picture.

Portfolio Pulse from The Arora Report

June 29, 2023 | 3:05 pm