Streetbeat News

Earnings

PLXS

Plexus shares are trading higher following upbeat Q4 guidance.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 6:49 pm

LIN

Financial giants have shown a bearish trend in options trading for Linde (NASDAQ:LIN), with 60% of trades being bearish. The price range targeted by these trades is between $400.0 and $455.0. Linde's stock is currently priced at $446.31, with RSI indicators suggesting it may be overbought. Analysts from UBS and Citigroup maintain a Neutral rating with target prices around $475-$480.

Portfolio Pulse from Benzinga Insights

July 25, 2024 | 6:47 pm

AAL

LUV

UAL

United Airlines Holdings Inc (NASDAQ:UAL) shares are trading higher by 1.6% to $46.77, rebounding after earlier weakness. The volatility follows financial results from American Airlines Group Inc and Southwest Airlines Co, which reported disappointing results and lower guidance. Southwest's report highlights industry-wide issues such as domestic capacity growth outpacing demand and significant increases in operating expenses due to inflation, which could also impact United Airlines.

Portfolio Pulse from Henry Khederian

July 25, 2024 | 6:42 pm

AAL

DAL

Delta Air Lines (DAL) shares are trading higher by 1.41% to $43.55, reversing earlier losses following American Airlines (AAL) and Southwest Airlines' financial results. Delta faces financial setbacks from a system failure, a federal investigation, and a Citigroup earnings estimate cut. Broader industry challenges are indicated by increased operating costs and demand fluctuations.

Portfolio Pulse from Henry Khederian

July 25, 2024 | 6:38 pm

Edwards Lifesciences Corp (NYSE:EW) reported Q2 adjusted EPS of $0.70, beating estimates, but sales of $1.632 billion missed expectations. TAVR sales grew 5%, but U.S. growth was below expectations due to hospital workflow pressures. The company announced acquisitions of JenaValve Technology and Endotronix, with minimal revenue contribution expected in 2025. Guidance for TAVR sales growth was lowered, and EW stock fell 28.7%. William Blair maintains an Outperform rating.

Portfolio Pulse from Vandana Singh

July 25, 2024 | 6:36 pm

GSHD

MOH

MXL

NOC

TWOU

VKTX

Gold prices fell by 2.5%, while Northrop Grumman posted strong earnings and raised its guidance. U.S. stocks traded higher, with the Dow Jones gaining over 350 points. Notable stock movements included significant gains for Goosehead Insurance, Molina Healthcare, and Viking Therapeutics, while 2U, Edwards Lifesciences, and MaxLinear saw substantial declines.

Portfolio Pulse from Avi Kapoor

July 25, 2024 | 6:23 pm

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

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