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Earnings

CCG

XIACF

Cheche Technology Inc. (NASDAQ: CCG) reported a modest 1% year-on-year revenue growth in Q1, despite a 9.2% increase in written premiums and a 20% rise in transactions. The sluggish Chinese car market and intense competition are pressuring pricing and margins. Cheche's partnerships with NEV manufacturers, including Xiaomi and Volkswagen, are crucial for future growth. However, the company faces challenges in improving revenue and margins, with a gross profit margin of just 4.3% and a widened net loss. Cheche's shares have plummeted nearly 95% since its public listing.

Portfolio Pulse from The Bamboo Works

June 05, 2024 | 2:33 pm

EWC

FQVLF

GFL

IVPAF

The Bank of Canada has cut interest rates by 0.25%, citing easing inflation and slower-than-expected economic growth. This decision led to a rally in Canadian stocks and a drop in the Canadian dollar. The iShares MSCI Canada Index Fund (NYSE:EWC) saw a 0.4% increase, with top performers including GFL Environmental Inc. (NYSE:GFL), First Quantum Minerals Ltd. (OTCPK:FQVLF), and Ivanhoe Mines Ltd. (OTCPK:IVPAF).

Portfolio Pulse from Piero Cingari

June 05, 2024 | 2:31 pm

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AGL

ASML

ASPN

CRWD

CVAC

DDD

GME

GWRE

HPE

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NVAX

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WKME

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Ollie's Bargain Outlet reported better-than-expected first-quarter earnings, leading to a 7.8% rise in its stock price. Other notable gainers include WalkMe, Stitch Fix, Vir Biotechnology, 3D Systems, Verint Systems, Hewlett Packard Enterprise, Guidewire Software, United Natural Foods, agilon health, GameStop, CureVac, Novavax, Axcelis Technologies, Twist Bioscience, MakeMyTrip, ASML Holding, ZIM Integrated Shipping, Aspen Aerogels, Taiwan Semiconductor Manufacturing, and CrowdStrike.

Portfolio Pulse from Avi Kapoor

June 05, 2024 | 2:23 pm

Brown-Forman Corp (NYSE:BF) shares are trading lower after the company reported a decline in fourth-quarter FY24 sales and provided a cautious outlook. Sales fell 8% year-on-year to $964 million, missing estimates, though EPS of $0.56 beat expectations. The company sees FY25 organic net sales growth of 2-4% and faces macroeconomic and geopolitical uncertainties.

Portfolio Pulse from Shivani Kumaresan

June 05, 2024 | 2:15 pm

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BF/B

Brown Forman shares are trading lower following mixed Q4 earnings.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 2:05 pm

GME

Market whales have taken a bearish stance on GameStop (NYSE:GME) options, with 37% of trades being bearish and only 12% bullish. The major market movers are focusing on a price range between $20.0 and $30.0. Currently, GME is trading at $28.11, up by 6.08%, but analysts have a low average target price of $7.0.

Portfolio Pulse from Benzinga Insights

June 05, 2024 | 2:01 pm

UNFI

United Natural Foods Inc (NYSE:UNFI) shares rose by 12.4% after reporting third-quarter FY24 earnings. Despite a slight sales decline, the company showed improved gross margins and beat EPS estimates. UNFI updated its FY24 adjusted EPS guidance and expects stable profit and cash flow growth.

Portfolio Pulse from Shivani Kumaresan

June 05, 2024 | 1:49 pm

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HLTH

LPA

MLGO

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U.S. stocks traded higher with the Nasdaq Composite gaining around 100 points. The Dow and S&P 500 also saw gains. U.S. private employers added 152,000 jobs in May, missing market expectations. Actelis Networks, ENDRA Life Sciences, and Nuvve Holding saw significant stock price increases, while MicroAlgo, Latam Logistic Properties, and Cue Health experienced declines.

Portfolio Pulse from Avi Kapoor

June 05, 2024 | 1:48 pm

VRNT

Verint Systems shares are trading higher after the company reported better-than-expected Q1 financial results and issued strong FY25 guidance.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 1:47 pm

GWRE

Guidewire Software shares are trading higher after the company reported better-than-expected Q3 financial results and issued FY24 revenue guidance above estimates.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 1:42 pm