Streetbeat News

Earnings

ALBT

CNM

MLGO

NDRA

SOBR

Core & Main Inc (NYSE:CNM) shares fell 11.4% after reporting mixed first-quarter financial results, missing earnings expectations but slightly beating sales estimates. Other notable stock movements include significant gains for MicroAlgo Inc (NASDAQ:MLGO) and Sobr Safe Inc (NASDAQ:SOBR), and substantial losses for ENDRA Life Sciences Inc (NASDAQ:NDRA) and Avalon Globocare Corp (NASDAQ:ALBT).

Portfolio Pulse from Avi Kapoor

June 04, 2024 | 4:54 pm

Equillium Inc. (NASDAQ:EQ) announced topline data from its Phase 2 study of EQ101 for alopecia areata, showing favorable safety and tolerability but mixed efficacy results. EQ shares fell 21.8% following the announcement.

Portfolio Pulse from Vandana Singh

June 04, 2024 | 4:35 pm

TLT

ZROZ

Long-dated U.S. Treasuries are rallying due to weak economic data, leading to increased expectations of a Federal Reserve rate cut in September. The iShares 20+ Year Treasury Bond ETF (TLT) and Pimco 25 Year Zero Coupon U.S. Treasury Index ETF (ZROZ) have seen significant gains, breaking key technical levels.

Portfolio Pulse from Piero Cingari

June 04, 2024 | 4:19 pm

AAPL

AMZN

GLD

GOOG

META

MSFT

NVDA

QQQ

SLV

SPY

TSLA

USO

The stock market is experiencing growth fears due to weak ISM Manufacturing Index data, which has increased the probability of a rate cut in September. Nvidia's announcement of a new AI chip platform, Rubin, is helping to support the market. Early trade shows mixed money flows among major tech stocks and ETFs.

Portfolio Pulse from The Arora Report

June 04, 2024 | 4:11 pm

Philip Morris International Inc (NYSE:PM) has raised its 2024 earnings outlook, projecting reported earnings per share of $5.77 to $5.89, and adjusted diluted earnings per share of $6.26 to $6.38. The company expects net revenue growth of 7% to 8.5% and organic operating income growth of 10% to 12% for FY24. Despite adverse currency impacts, the company anticipates strong first-half results.

Portfolio Pulse from Nabaparna Bhattacharya

June 04, 2024 | 4:01 pm

ANNX

BBWI

DBI

MLGO

NDRA

SOBR

U.S. stocks traded lower with the Nasdaq Composite falling over 50 points. Bath & Body Works shares tumbled around 10% after reporting Q1 results. MicroAlgo Inc shares surged 365% following a new research center announcement. Sobr Safe Inc shares rose 140% due to new device purchases. Annexon, Inc. shares gained 28% after a successful Phase 3 trial. ENDRA Life Sciences Inc shares dropped 66% after a public offering announcement. Equillium Inc shares fell 22% following Phase 2 study data. Designer Brands Inc shares fell 18% after Q1 earnings.

Portfolio Pulse from Avi Kapoor

June 04, 2024 | 4:00 pm

FTDR

Frontdoor, Inc. (NASDAQ:FTDR) has announced the acquisition of 2-10 Home Buyers Warranty for $585 million in cash. The deal is expected to close in Q4 2024 and will expand Frontdoor's market into new home segments, boosting earnings and providing cross-selling opportunities.

Portfolio Pulse from Lekha Gupta

June 04, 2024 | 3:31 pm

GTLB

Gitlab, Inc. (NASDAQ:GTLB) shares are trading lower after the company reported better-than-expected Q1 earnings but received mixed analyst reactions with several price target reductions.

Portfolio Pulse from Dylan Berman

June 04, 2024 | 3:25 pm

SUN

Sunoco LP (NYSE:SUN) has been upgraded from Neutral to Buy by Mizuho Securities' analyst Gabriel Moreen, who also raised the price target from $60 to $59. Despite a 22% decline since March, Moreen believes the stock's underperformance is unjustified given Sunoco's strong EBITDA growth, synergy potential from the NuStar acquisition, and a potentially investment-grade balance sheet.

Portfolio Pulse from Priya Nigam

June 04, 2024 | 3:12 pm

GTLB

GitLab shares are trading lower following Q1 earnings.

Portfolio Pulse from Benzinga Newsdesk

June 04, 2024 | 3:11 pm