Streetbeat News

Earnings

CAT

Caterpillar Inc. (NYSE:CAT) shares are rising after the company announced an 8% dividend increase and a $20 billion addition to its share repurchase program. The company also reported strong earnings, surpassing EPS estimates but slightly missing revenue expectations.

Portfolio Pulse from Vaishali Prayag

June 12, 2024 | 5:37 pm

HAE

NBSM

XHE

Needham & Co. analyst Mike Matson upgraded Haemonetics Corporation (NYSE:HAE) from Hold to Buy with a price target of $112, citing improved product mix and margin expansion. The analyst expects HAE to achieve a 27%+ operating margin by FY26, driven by higher-margin Interventional Technologies sales and reduced lower-margin Plasma sales to CSL. Investors can gain exposure via Neuberger Berman Small-Mid Cap ETF (NYSE:NBSM) and SPDR S&P Health Care Equipment (NYSE:XHE). HAE shares are up 4.55% at $87.21.

Portfolio Pulse from Lekha Gupta

June 12, 2024 | 5:34 pm

ELV

Elevance Health's executive announced that the company's Medicare earnings are growing this year, and the company is making money, not losing it, in Medicare. This statement was made at a Goldman Sachs conference.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 5:32 pm

ELV

Elevance Health's executive highlighted that Medicaid redeterminations had a significant impact on their Q1 footprint during the Goldman Sachs conference.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 5:27 pm

AAPL

IWM

KRE

TLT

TSLA

XHB

A lower-than-expected inflation report for May has driven Wall Street to record highs, with significant gains in tech, real estate, and small caps ahead of the Federal Reserve meeting. The Nasdaq 100, S&P 500, and iShares Russell 2000 ETF (IWM) saw notable increases. Treasury yields fell, boosting the iShares 20+ Year Treasury Bond ETF (TLT). Sector-specific ETFs like SPDR S&P Homebuilders ETF (XHB) and SPDR S&P Regional Banking ETF (KRE) also surged. Key stock movers included Apple (AAPL), Tesla (TSLA), and several real estate and regional bank stocks.

Portfolio Pulse from Piero Cingari

June 12, 2024 | 5:26 pm

BMR

DDC

STRM

Streamline Health Solutions (NASDAQ:STRM) shares fell 23.3% after reporting worse-than-expected Q1 EPS results. Other notable stock movements include DDC Enterprise (NYSE:DDC) surging 101% after acquiring Omsom, and Beamr Imaging (NASDAQ:BMR) gaining 39.3% following the announcement of its Beamr Cloud solution's availability in the Oracle Cloud Marketplace.

Portfolio Pulse from Avi Kapoor

June 12, 2024 | 5:25 pm

XOM

Exxon Mobil (NYSE:XOM) has seen significant bullish options trading activity, with 63% of traders showing bullish sentiment. The trading activity suggests a price range of $70.0 to $122.0 over the next three months. Analysts have mixed ratings, with price targets ranging from $124 to $145.

Portfolio Pulse from Benzinga Insights

June 12, 2024 | 5:17 pm

GOOG

GOOGL

ORCL

Oracle Corp (NYSE:ORCL) shares rose after reporting quarterly results, despite missing revenue expectations. Analysts highlighted strong RPO growth and significant AI contract signings as key positives.

Portfolio Pulse from Priya Nigam

June 12, 2024 | 5:11 pm

NKGN

NKGen Biotech has presented a novel manufacturing and cryopreservation process for its allogeneic NK cell therapy, SNK02. CEO Dr. Paul Y. Song provided updates on the initial Phase 1 results for treating advanced refractory solid tumors.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 5:07 pm

HOOD

Robinhood Markets Inc (NASDAQ:HOOD) shares are trading higher after the company reported positive operating data for May, including increases in funded customers, net deposits, assets under custody, and trading volumes across equities, options, and crypto.

Portfolio Pulse from Adam Eckert

June 12, 2024 | 4:48 pm