Streetbeat News

Earnings

DKS

Dick's Sporting Goods (NYSE:DKS) reported strong Q1 earnings, beating analyst expectations and raising its FY24 EPS and net sales guidance. Goldman Sachs and BofA Securities analysts have both issued positive ratings and increased price targets for the stock.

Portfolio Pulse from Shivani Kumaresan

May 29, 2024 | 7:10 pm

CAVA

CAVA Group Inc. (NYSE:CAVA) reported a 30.3% increase in first-quarter revenue to $256.3 million, beating estimates. Quarterly earnings of $0.12 also surpassed expectations. Wedbush maintains an Outperform rating, raising the price target from $74 to $90, citing positive transaction growth and strong long-term prospects.

Portfolio Pulse from Vandana Singh

May 29, 2024 | 6:57 pm

COP

IEO

MRO

WEEI

ConocoPhillips (COP) is acquiring Marathon Oil Corporation (MRO) in an all-stock transaction valued at $22.5 billion. Roth MKM analyst Leo Mariani expects a negative short-term reaction for COP, but sees long-term benefits. The deal is expected to be accretive to COP's earnings and cash flow. Mariani maintains a Buy rating on COP with a $144 price target.

Portfolio Pulse from Lekha Gupta

May 29, 2024 | 6:54 pm

ARGX

BHVN

IMVT

Biohaven Ltd's (NYSE:BHVN) shares dropped significantly after interim data from a Phase 1 study of their investigational drug BHV-1300 fell short of investor expectations. The drug showed a 30% and 37% reduction in Immunoglobulin G (IgG) in the 3rd and 4th cohorts, respectively, which was below the anticipated 60% reduction. Comparatively, Immunovant Inc's (NASDAQ:IMVT) IMVT-1402 showed better results, and Argenx Inc's (NASDAQ:ARGX) Vyvgart demonstrated a 50% reduction in IgG within five to seven days.

Portfolio Pulse from Vandana Singh

May 29, 2024 | 6:47 pm

FFIE

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) shares plummeted after disappointing FY23 sales results and Nasdaq compliance issues. The company missed sales estimates, withdrew its production target guidance, and received a Nasdaq notice for failing to file a timely 10-Q report. Despite these setbacks, Faraday Future plans to unveil a new strategy and ramp up production of its FF 91 vehicle.

Portfolio Pulse from Vaishali Prayag

May 29, 2024 | 6:43 pm

COST

Costco Wholesale Corporation (NASDAQ:COST) is set to report its Q3 earnings on May 30. Analysts expect revenue of $58.07 billion and EPS of $3.70. Key items to watch include foot traffic data, potential membership fee increases, and market share gains. Analysts have given mixed ratings but generally positive price targets.

Portfolio Pulse from Chris Katje

May 29, 2024 | 6:33 pm

AAL

ANF

BNAI

FFIE

HLTH

LUCY

RSLS

U.S. stocks traded lower with the S&P 500 down 0.5%. Abercrombie & Fitch reported better-than-expected earnings and raised guidance. ReShape Lifesciences, Brand Engagement Network, and Innovative Eyewear saw significant stock price increases, while Cue Health, American Airlines, and Faraday Future experienced sharp declines.

Portfolio Pulse from Avi Kapoor

May 29, 2024 | 6:33 pm

SOHO

Sotherly Hotels has received a notice from Nasdaq for failing to timely file its quarterly report for Q1 2024.

Portfolio Pulse from Benzinga Newsdesk

May 29, 2024 | 6:04 pm

RBLX

Roblox Corp (NYSE:RBLX) faces a bearish outlook due to mixed earnings, a downgraded forecast, and the formation of a Death Cross. Despite some positive metrics, the stock has declined significantly, and analysts have reduced its price target.

Portfolio Pulse from Surbhi Jain

May 29, 2024 | 5:44 pm

THR

Thermon Group Holdings, Inc. (NYSE:THR) reported a 4% Y/Y increase in Q4 FY24 revenue to $127.7 million, beating consensus estimates. Despite this, shares are trading lower due to a 6% decline in adjusted EBITDA and a 17% drop in adjusted EPS. The company has set optimistic FY25 revenue and EPS goals.

Portfolio Pulse from Lekha Gupta

May 29, 2024 | 5:41 pm