Streetbeat News

Earnings

CNC

EVH

MOH

UNH

Shares of health insurers are trading lower in sympathy with UnitedHealth, which fell after comments at the Bernstein 40th Annual Strategic Decisions Conference.

Portfolio Pulse from Benzinga Newsdesk

May 29, 2024 | 7:40 pm

PATH

UiPath, Inc. (NYSE:PATH) shares are trading lower ahead of the company's first-quarter earnings report. Analysts expect earnings of 12 cents per share and revenue of $333.039 million. Last quarter, UiPath beat earnings and revenue estimates. The company recently unveiled the UiPath Business Automation Platform in partnership with Microsoft. Trading volume is significantly higher than average as investors anticipate the earnings report.

Portfolio Pulse from Erica Kollmann

May 29, 2024 | 7:35 pm

ULTA

Ulta Beauty, Inc. (NASDAQ:ULTA) is set to report its Q1 financial results on May 30, 2024. Analysts expect revenue of $2.72 billion and earnings per share of $6.23, both lower than last year's figures. Despite strong foot traffic data, analysts have lowered their price targets for Ulta, citing concerns over same-store sales and moderated growth. Ulta's stock has declined 22.5% year-to-date.

Portfolio Pulse from Chris Katje

May 29, 2024 | 7:35 pm

AAL

AIRL

JETS

American Airlines Group Inc. (NASDAQ:AAL) shares are trading lower after the company lowered its second-quarter adjusted EPS guidance and analysts cut the price target. The company also announced the departure of its Chief Commercial Officer. Analysts from BofA Securities, Seaport Research Partners, and Jefferies have downgraded the stock and lowered their price targets. Investors can gain exposure to the stock via U.S. Global Jets ETF (NYSE:JETS) and Themes Airlines ETF (NASDAQ:AIRL).

Portfolio Pulse from Lekha Gupta

May 29, 2024 | 7:30 pm

DVN

Deep-pocketed investors are showing significant interest in Devon Energy (NYSE:DVN) options, with a notable increase in both call and put activities. The sentiment is slightly bullish, with 54% of the trades being calls. Analysts have maintained positive ratings with target prices ranging from $57 to $67.

Portfolio Pulse from Benzinga Insights

May 29, 2024 | 7:16 pm

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