Streetbeat News

Earnings

Ralph Lauren Corp (NYSE:RL) reported a 2% year-on-year sales growth for Q4 FY24, slightly beating analyst estimates. The company also announced a 10% increase in its quarterly dividend and appointed a new CFO. The outlook for FY25 includes low-single-digit revenue growth and operating margin expansion.

Portfolio Pulse from Shivani Kumaresan

May 23, 2024 | 2:15 pm

DIA

IWM

NVDA

QQQ

SMH

SOX

SPY

XLK

The S&P 500 and Nasdaq 100 indices hit new record highs, driven by Nvidia's (NASDAQ:NVDA) 9% surge to $1,034 per share following stellar earnings and guidance. Nvidia reported $26 billion in revenue, a 262% YoY increase, with AI-driven Data Center revenue up 427%. ETFs like SPY, QQQ, and XLK also saw gains, while DIA and IWM underperformed.

Portfolio Pulse from Piero Cingari

May 23, 2024 | 2:07 pm

CLNN

Analysts have provided mixed evaluations for Clene Inc. (NASDAQ: CLNN) over the past three months, with all six analysts maintaining a 'Buy' rating. The average 12-month price target is $6.33, with a high of $7.00 and a low of $5.00. However, the average price target has decreased by 9.57%. Clene faces financial challenges, including a revenue decline of -31.78%, a net margin of -15178.08%, and a high debt-to-equity ratio of 7.61.

Portfolio Pulse from Benzinga Insights

May 23, 2024 | 2:01 pm

INTU

Intuit Inc. (NASDAQ:INTU) is set to release its Q3 financial results for fiscal year 2024 after the closing bell on Thursday. Analysts expect earnings of $9.37 per share and revenue of $6.65 billion. Recent analyst ratings show a mix of Neutral, Overweight, and Outperform ratings with increased price targets.

Portfolio Pulse from Avi Kapoor

May 23, 2024 | 1:56 pm

AKAN

AKTS

ASTI

MGOL

NVDA

ONMD

ZCAR

The Nasdaq Composite surged over 100 points, driven by strong Q1 results from Nvidia, which also announced a 10-for-1 stock split and a 150% increase in its quarterly dividend. Other notable stock movements included significant gains for OneMedNet Corporation, Ascent Solar Technologies, and Zoomcar Holdings, while MGO Global, Akoustis Technologies, and Akanda Corp saw substantial declines.

Portfolio Pulse from Avi Kapoor

May 23, 2024 | 1:55 pm

TITN

Titan Machinery Inc (NASDAQ:TITN) shares dropped after missing Q1 fiscal 2025 earnings targets. The company reported revenue growth of 10.4% year-over-year to $628.703 million, missing the consensus of $661.73 million. EPS was $0.41, below the expected $0.61. Inventory issues and softening demand impacted margins. The company lowered its full-year EPS outlook to $2.25-$2.75 from $3.00-$3.50.

Portfolio Pulse from Akanksha Bakshi

May 23, 2024 | 1:52 pm

JPM

Jamie Dimon, CEO of JPMorgan Chase & Co, has warned of a potential 'hard landing' for the U.S. economy, with stagflation being a serious threat. Despite low unemployment and rising wages, consumer confidence is low due to inflation. Dimon's comments come as the Federal Reserve considers raising interest rates to curb inflation.

Portfolio Pulse from Michael Cohen

May 23, 2024 | 1:37 pm

Ralph Lauren's executive announced that the company's business in China has more than doubled compared to pre-pandemic levels, now accounting for 7% of total company sales.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2024 | 1:35 pm

NGG

National Grid Transco expects an EPS CAGR of 6%-8% from the 2024/25 baseline through 2028/29, assuming an exchange rate of £1:$1.25.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2024 | 1:31 pm

NGG

National Grid Transco expects its underlying EPS for 2024/25 to be broadly in line with 2023/24 EPS, adjusted for the number of bonus shares issued as part of a rights issue.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2024 | 1:30 pm