Streetbeat News

Earnings

SGMT

Sagimet Biosciences Inc (NASDAQ:SGMT) presented promising data from its FASCINATE-2 Phase 2b clinical trial of denifanstat for MASH patients at the EASL Congress. The trial showed significant improvements in primary and secondary endpoints compared to placebo, with no serious adverse events reported.

Portfolio Pulse from Vandana Singh

June 06, 2024 | 1:52 pm

ASNS

FRGT

JWEL

LPA

MITQ

VRAX

U.S. stocks traded mostly higher with the Dow Jones gaining around 100 points. Initial jobless claims rose by 8,000 to 229,000. Virax Biolabs, Latam Logistic Properties, and Freight Technologies saw significant stock price increases, while Actelis Networks, Jowell Global, and Moving iMage Technologies experienced declines.

Portfolio Pulse from Avi Kapoor

June 06, 2024 | 1:48 pm

CIEN

Ciena Corp (NYSE:CIEN) reported stronger-than-expected Q2 2024 results with revenue of $910.80 million and an adjusted EPS of $0.27, both beating analyst estimates. Despite a 19.6% revenue decline year-on-year, the company saw a 5.62% increase in share price. CEO Gary Smith highlighted robust growth in bandwidth demand.

Portfolio Pulse from Anusuya Lahiri

June 06, 2024 | 1:45 pm

CRM

FDN

IGV

Salesforce Inc. (NYSE:CRM) shares are rising after announcing London as the location for its first AI center. The company aims to foster AI innovation and skill development. Salesforce is hosting 18,000 attendees at its annual London World Tour event. The company previously announced a $4 billion investment in Britain over five years. Analysts at Goldman Sachs see Salesforce as an 'under-appreciated generative AI winner' with room for margin expansion.

Portfolio Pulse from Shivani Kumaresan

June 06, 2024 | 1:43 pm

FIVE

Five Below, Inc. (NASDAQ:FIVE) reported disappointing first-quarter earnings and lowered its full-year guidance. The company missed both earnings and sales estimates, and comparable sales decreased by 2.3%. Analysts have subsequently cut their price targets for the stock.

Portfolio Pulse from Avi Kapoor

June 06, 2024 | 1:29 pm

CXM

RDDT

Sprinklr, Inc. (NYSE:CXM) shares are down 23.6% after reporting mixed Q1 FY25 results. Despite beating sales and EPS estimates, the company cut its FY25 revenue outlook and provided weak Q2 guidance. Additionally, Sprinklr announced Trac Pham as co-CEO and an expanded partnership with Reddit, Inc. (NYSE:RDDT). Multiple analysts downgraded the stock and lowered price targets.

Portfolio Pulse from Lekha Gupta

June 06, 2024 | 1:26 pm

SMAR

Smartsheet Inc (NYSE:SMAR) reported better-than-expected Q1 earnings and sales, announced a $150 million share repurchase program, and received multiple price target upgrades from analysts. The company expects full-year revenue and adjusted earnings to exceed estimates.

Portfolio Pulse from Avi Kapoor

June 06, 2024 | 1:26 pm

BTCY

Biotricity projects a year-end revenue growth exceeding 24% year-over-year, a decrease in loss from operations by over 40% year-over-year, and an improvement in margins by over 10% year-over-year.

Portfolio Pulse from Benzinga Newsdesk

June 06, 2024 | 1:21 pm

AAPL

WCN

XLG

On CNBC's 'Halftime Report Final Trades,' Stephen Weiss recommended Apple Inc. (AAPL), which is set to unveil significant advancements at its WWDC in June 2024. Karen Firestone recommended Waste Connections, Inc. (WCN), which posted better-than-expected Q1 earnings. Joseph M. Terranova picked Invesco S&P 500 Top 50 ETF (XLG) as his final trade.

Portfolio Pulse from Avi Kapoor

June 06, 2024 | 1:06 pm

OLLI

Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) reported better-than-expected first-quarter earnings, with sales growth of 10.8% year-on-year to $508.82 million and adjusted EPS of 73 cents. The company raised its FY24 adjusted EPS and sales outlook. Analysts from B of A Securities and RBC Capital increased their price targets for OLLI.

Portfolio Pulse from Avi Kapoor

June 06, 2024 | 12:58 pm