Streetbeat News

Earnings

DELL

MSFT

Dell Technologies Inc (NYSE:DELL) shares are trading lower on Thursday, pulling back from recent gains driven by strong demand for AI servers and PCs. The stock has surged over 120% year-to-date, bolstered by positive analyst updates and price target revisions. However, broader tech sector weakness, influenced by Salesforce's revenue miss, is impacting Dell. Dell is set to release its fiscal first-quarter financial results, with high expectations for earnings and revenue.

Portfolio Pulse from Adam Eckert

May 30, 2024 | 6:24 pm

COP

IEO

MRO

WEEI

ConocoPhillips (COP) is set to acquire Marathon Oil Corporation (MRO) in an all-stock transaction valued at $22.5 billion. Analysts view the deal positively, expecting it to be accretive on financial metrics and enhance COP's asset base. COP also plans to increase its dividend by 34% and repurchase over $7 billion in shares in the first year. The acquisition is expected to add quality acreage and synergies, though some analysts express concerns about whether it makes COP better or just bigger.

Portfolio Pulse from Lekha Gupta

May 30, 2024 | 6:20 pm

COST

Costco Wholesale Corporation (NASDAQ:COST) shares are rising ahead of the company's third-quarter earnings release. Analysts expect adjusted EPS of $3.70 and revenue of $58.06 billion. Last quarter, Costco beat EPS estimates but missed revenue targets. Stifel analyst Mark Astrachan predicts a consumer spending shift could benefit Costco, maintaining a Buy rating on the stock.

Portfolio Pulse from Dylan Berman

May 30, 2024 | 6:10 pm

MPC

Analysts have provided mixed ratings for Marathon Petroleum (NYSE:MPC) in the latest quarter, with a notable increase in the average 12-month price target to $208.07. Despite some financial challenges, the company shows strong ROE and ROA.

Portfolio Pulse from Benzinga Insights

May 30, 2024 | 6:01 pm

In the last three months, 5 analysts have published ratings on Healthcare Realty Trust (NYSE:HR), with a range of perspectives from bullish to bearish. The average 12-month price target has decreased from $16.40 to $16.00. Analysts have adjusted their ratings and price targets in response to recent developments, reflecting a cautious outlook on the company's financial performance.

Portfolio Pulse from Benzinga Insights

May 30, 2024 | 6:00 pm

BBY

BIRK

BURL

CRDO

CRM

DIA

GLD

HPQ

HRL

IWM

KSS

NTNX

OKTA

PATH

PSTG

QQQ

SPY

TAN

TLT

XLK

XLRE

Wall Street saw a decline in major large-cap indices due to downturns in tech and communication services sectors. Investors shifted focus to small caps, real estate, and solar stocks. The second estimate of Q1 GDP growth was revised down to 1.3%. The S&P 500, Nasdaq 100, and Dow Jones Industrial Average fell, while the iShares Russell 2000 ETF and iShares 20+ Year Treasury Bond ETF rose. Salesforce plummeted 20% after missing revenue expectations, while HP Inc. rose 19% on strong results. Other notable movers included Kohl Corp., Dollar General, Best Buy, Hormel Foods, Burlington Stores, Birkenstock, Agilent Technologies, Pure Storage, Okta, Nutanix, Ui Path, and Credo Technology.

Portfolio Pulse from Piero Cingari

May 30, 2024 | 5:57 pm

NIO

Nio Inc. (NYSE:NIO) shares surged on Thursday following the announcement of a partnership with IM Motors to integrate their charging networks. This move is part of Nio's strategy to expand its charging infrastructure in China. Investors are also anticipating Nio's earnings report next week.

Portfolio Pulse from Vaishali Prayag

May 30, 2024 | 5:56 pm

VIK

Viking Holdings Ltd (NYSE:VIK) reported strong first-quarter FY24 earnings, with analysts optimistic about its future bookings and pricing power. The company is 91% booked for 2024 at higher prices and 39% booked for 2025. Analysts from BofA Securities, Stifel, and J.P. Morgan reiterated their positive ratings and price targets, highlighting VIK's strong market position and forward booking trends.

Portfolio Pulse from Shivani Kumaresan

May 30, 2024 | 5:49 pm

AEO

CRM

FFIE

HLTH

SMFL

Shares of American Eagle Outfitters (NYSE:AEO) fell 4.5% after reporting first-quarter earnings that missed analyst estimates. Other notable stock movements include Cue Health (NASDAQ:HLTH) jumping 100.7% after filing for Chapter 7 bankruptcy, and Smart for Life (NASDAQ:SMFL) rising 57% following a restructuring program. Faraday Future (NASDAQ:FFIE) rose 51% despite poor fiscal year results and Nasdaq filing issues. Foot Locker (NYSE:FL) gained 25.9% after beating first-quarter earnings, while Salesforce (NYSE:CRM) fell 20.1% due to weak guidance despite upbeat earnings.

Portfolio Pulse from Avi Kapoor

May 30, 2024 | 5:48 pm

AMD

MRVL

NVDA

SPRX

Marvell Technology (MRVL) is set to release its first-quarter earnings, with analysts estimating earnings of 25 cents per share on revenues of $1.18 billion. The stock has shown a bullish trend, forming a bull flag pattern. The Spear Alpha ETF (SPRX), which holds Marvell, NVIDIA (NVDA), AMD, and Zscaler (ZS), offers a diversified investment option.

Portfolio Pulse from Melanie Schaffer

May 30, 2024 | 5:41 pm