Streetbeat News

Earnings

MRVL

Marvell Technology, Inc. (NASDAQ:MRVL) shares are trading higher after announcing the Teralynx 10 Ethernet switch device is in volume production. The switch is noted for its low power, low latency, and high bandwidth, making it suitable for AI deployments. Marvell shares had previously fallen due to a broader market decline but are now trading above their 50-day moving average. Analysts have a bullish outlook on the stock with an average 1-year price target of $88.80.

Portfolio Pulse from Erica Kollmann

July 25, 2024 | 6:22 pm

NOW

NVDA

ServiceNow Inc (NYSE:NOW) shares surged after the company beat Q2 earnings estimates. CEO Bill McDermott highlighted the company's strong performance and its exclusive enterprise AI platform, powered by NVIDIA Corp (NASDAQ:NVDA). ServiceNow's revenue grew 22%, and remaining performance obligations increased by 31%. The company's Now Assist business doubled quarter-over-quarter, driven by Gen AI. The partnership with NVIDIA has been crucial in building ServiceNow's AI stack, enhancing productivity and customer satisfaction.

Portfolio Pulse from Adam Eckert

July 25, 2024 | 6:20 pm

MU

QQQ

Micron Technology Inc (NASDAQ:MU) shares are down roughly 1% amid overall market weakness, driven by potential further restrictions on China, comments on the China-Taiwan standoff, and recent tech earnings updates. The semiconductor sector, including Micron, is impacted by potential reductions in AI-related investments. Mixed macroeconomic signals add to the uncertainty.

Portfolio Pulse from Henry Khederian

July 25, 2024 | 6:17 pm

CRM

Deep-pocketed investors have shown significant bearish interest in Salesforce (NYSE:CRM) through options trading, with a notable increase in both call and put volumes. The sentiment is mixed, with 40% bullish and 45% bearish. The stock is currently trading at $255.0, up by 2.09%, but RSI readings suggest it may be approaching overbought territory. Analysts have a consensus target price of $250.0.

Portfolio Pulse from Benzinga Insights

July 25, 2024 | 6:16 pm

EW

F

PBM

POAI

Edwards Lifesciences Corporation (NYSE:EW) shares fell sharply after reporting worse-than-expected Q2 sales and issuing weak Q3 guidance. Despite beating EPS estimates, the stock dipped 26.9%. The company also acquired JenaValve and Endotronix. Other notable movers include Predictive Oncology Inc. (NASDAQ:POAI), Psyence Biomedical Ltd. (NASDAQ:PBM), and Ford Motor Company (NYSE:F).

Portfolio Pulse from Avi Kapoor

July 25, 2024 | 6:12 pm

NOW

ServiceNow Inc (NYSE:NOW) reported better-than-expected Q2 results, with revenue of $2.627 billion and earnings of $3.13 per share, both surpassing analyst estimates. The company also provided strong guidance for Q3 and full-year 2024. Following the announcement, multiple analysts raised their price targets for the stock.

Portfolio Pulse from Avi Kapoor

July 25, 2024 | 6:01 pm

HP

PSCE

XES

Helmerich & Payne, Inc. (NYSE:HP) is acquiring KCA Deutag for $1.9725 billion, significantly expanding its presence in the Middle East. The acquisition will increase H&P's Middle East rig count from 12 to 88 and is expected to be immediately accretive to cash flow. The transaction is anticipated to close by the end of 2024.

Portfolio Pulse from Lekha Gupta

July 25, 2024 | 6:00 pm

MXL

MaxLinear, Inc. (NASDAQ:MXL) reported worse-than-expected Q2 financial results, leading to a significant drop in share price and multiple analysts cutting their price targets. The company reported a quarterly loss of 25 cents per share and sales of $91.990 million, both missing analyst estimates. MaxLinear's Q3 revenue guidance also fell short of expectations.

Portfolio Pulse from Avi Kapoor

July 25, 2024 | 5:53 pm

PWOD

Penns Woods Bancorp (NASDAQ:PWOD) reported a 20% increase in Q2 earnings per share (EPS), rising from $0.60 to $0.72 year-over-year.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 5:53 pm

CMMB

Chemomab Therapeutics (NASDAQ:CMMB) released positive Phase 2 trial results for its liver disease treatment, CM-101, but the stock fell 14.80% due to a $10 million capital raise.

Portfolio Pulse from Vandana Singh

July 25, 2024 | 5:53 pm