Streetbeat News

Earnings

CAVA

CAVA Group, Inc. (NYSE:CAVA) reported better-than-expected first-quarter earnings and increased FY24 guidance. The company saw a 30.3% year-over-year revenue increase and raised its full-year sales and EBITDA forecasts. Analysts have subsequently boosted their price targets for CAVA.

Portfolio Pulse from Avi Kapoor

May 29, 2024 | 12:29 pm

MOMO

SGA

TRIP

The article highlights three oversold stocks in the communication services sector: Tripadvisor, Inc. (TRIP), Hello Group Inc. (MOMO), and Saga Communications, Inc. (SGA). These stocks have RSI values near or below 30, indicating potential undervaluation. TRIP posted better-than-expected quarterly results but saw a significant stock decline. MOMO reported downbeat earnings, leading to a sharp drop in its stock price. SGA reported a GAAP loss, resulting in a notable stock decline.

Portfolio Pulse from Avi Kapoor

May 29, 2024 | 12:23 pm

DKS

Dick's Sporting Goods Inc (NYSE:DKS) reported better-than-expected Q1 FY24 earnings, with sales growth of 6.2% year-on-year to $3.02 billion and an adjusted EPS of $3.30. The company raised its full-year EPS outlook to $13.35 – $13.75 and net sales guidance to $13.1 billion – $13.2 billion. DKS shares are trading higher by 7.21% premarket.

Portfolio Pulse from Shivani Kumaresan

May 29, 2024 | 12:18 pm

NAT

Nordic American Tankers reported that its Q1 average Time Charter Equivalent (TCE) for its fleet was $34,320 per day per ship.

Portfolio Pulse from Benzinga Newsdesk

May 29, 2024 | 12:17 pm

NAT

Nordic American Tankers (NYSE:NAT) reported Q1 2024 earnings per share of $0.07, missing the analyst estimate of $0.11 by 36.36%. The company also reported sales of $60.572 million, missing the estimate of $76.562 million by 20.89%. This represents a 30.45% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

May 29, 2024 | 12:15 pm

TVGN

Tevogen Bio Holdings (NASDAQ:TVGN) reported a Q1 EPS of $(0.26), which is the same as the previous year.

Portfolio Pulse from Benzinga Newsdesk

May 29, 2024 | 12:11 pm

COP

FXN

IEO

MRO

RSPG

WEEI

ConocoPhillips (NYSE:COP) is set to acquire Marathon Oil (NYSE:MRO) in an all-stock deal valued at $22.5 billion, offering a 14.7% premium to MRO's closing price on May 28, 2024. The deal is expected to close in Q4 2024, subject to shareholder approval. The acquisition will add significant resources to COP's portfolio and is projected to be immediately accretive to earnings and cash flow. COP plans to increase its dividend and share buybacks post-deal.

Portfolio Pulse from Lekha Gupta

May 29, 2024 | 12:09 pm

HLTH

OOMA

RSLS

SCPX

Ooma, Inc. (NYSE:OOMA) shares surged 17% in pre-market trading after reporting better-than-expected Q1 results and issuing strong guidance for Q2 and FY25. Other notable pre-market movers include ReShape Lifesciences Inc. (NASDAQ:RSLS) up 130.2%, Scorpius Holdings, Inc. (NYSE:SCPX) up 48.7%, and Cue Health Inc. (NASDAQ:HLTH) down 41.9% after filing for Chapter 7 bankruptcy.

Portfolio Pulse from Avi Kapoor

May 29, 2024 | 12:07 pm

AAL

DAL

JBLU

LUV

SAVE

UAL

Shares of airline stocks are trading lower in sympathy with American Airlines, which lowered its Q2 guidance.

Portfolio Pulse from Benzinga Newsdesk

May 29, 2024 | 11:58 am

AAL

American Airlines Group shares are trading lower after the company lowered its Q2 adjusted EPS guidance. Additionally, Jefferies downgraded the stock from Buy to Hold and reduced its price target from $17 to $12.

Portfolio Pulse from Benzinga Newsdesk

May 29, 2024 | 11:56 am