Streetbeat News

Earnings

DSGX

Descartes Systems shares are trading lower following Q1 earnings.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 7:02 pm

AAP

Advance Auto Parts shares are trading higher after a decline on Wednesday following their Q1 earnings report.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 7:02 pm

MITT

Analysts have provided mixed ratings for AG Mortgage IT (NYSE:MITT) over the past three months, with a recent positive shift in price targets. The average 12-month price target has increased to $7.4. Key analysts have raised or maintained their ratings, reflecting a positive outlook. AG Mortgage IT has shown strong financial performance with impressive revenue growth, net margin, ROE, and ROA, but faces challenges with high debt levels.

Portfolio Pulse from Benzinga Insights

May 30, 2024 | 7:01 pm

BBY

FL

MAXN

NBY

ONMD

PATH

RRGB

U.S. stocks traded lower with the Dow Jones falling over 300 points. Best Buy reported better-than-expected earnings, while Foot Locker, Red Robin Gourmet Burgers, and OneMedNet saw significant stock price increases. Maxeon Solar Technologies, NovaBay Pharmaceuticals, and UiPath experienced sharp declines due to disappointing earnings and guidance.

Portfolio Pulse from Avi Kapoor

May 30, 2024 | 6:48 pm

AMZN

CHWY

WMT

Chewy, Inc. (NYSE:CHWY) reported strong Q1 2024 results, surpassing expectations with an adjusted EPS of $0.31 and sales of $2.88 billion. Analysts have raised their price targets and remain optimistic about the company's future growth and profitability.

Portfolio Pulse from Nabaparna Bhattacharya

May 30, 2024 | 6:47 pm

PSTG

Pure Storage, Inc. (NYSE:PSTG) shares are trading higher following the company's quarterly earnings announcement. The company reported better-than-expected adjusted EPS and sales for Q1 of fiscal-year 2025 and issued positive guidance for Q2 and the full fiscal year. Several analysts have raised their price targets for the stock.

Portfolio Pulse from Dylan Berman

May 30, 2024 | 6:39 pm

HRL

Hormel Foods shares are trading lower following Q2 earnings. The stock initially gained but has reversed.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 6:33 pm

MRK

SMMT

Summit Therapeutics announced that its Phase III trial HARMONi-2 met the primary endpoint of progression-free survival (PFS) for Ivonescimab in advanced NSCLC with PD-L1 expression. Ivonescimab is the first drug to show a clinically meaningful benefit over Pembrolizumab in a randomized Phase III clinical trial for NSCLC. The full data set will be presented at a major medical conference later this year.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 6:31 pm

TCNNF

TDR Research has rated Trulieve Cannabis (OTC:TCNNF) a 'Buy', citing strong financial health and growth potential. The report projects a 46% upside in stock price, with 2024 revenue estimates of $1.20 billion and an EBITDA of $298.8 million. Despite some challenges, anticipated regulatory changes in the cannabis industry could further enhance Trulieve's prospects.

Portfolio Pulse from Nicolás Jose Rodriguez

May 30, 2024 | 6:30 pm

CRM

NVDA

Jim Cramer attributes the recent 20% drop in Salesforce (CRM) stock to the rapid advancement of AI, particularly driven by Nvidia (NVDA). Salesforce reported its first revenue miss in over a decade and issued weak guidance for the next quarter. Cramer suggests that companies are reassessing their software spending due to the potential for AI to reduce the need for human labor.

Portfolio Pulse from Adam Eckert

May 30, 2024 | 6:26 pm