Streetbeat News

Earnings

AVGO

LRCX

NVDA

Several semiconductor stocks, including Micron Technology, Broadcom, and Lam Research, are trading higher in sympathy with Nvidia, which reported strong first-quarter earnings and issued upbeat guidance. Nvidia also announced a 10-for-1 stock split and increased its dividend.

Portfolio Pulse from Adam Eckert

May 23, 2024 | 1:04 pm

ECNS

FMET

Weibo Corp (NASDAQ: WB) reported a fiscal Q1 2024 revenue decline of 4% year-on-year to $395.5 million, beating analyst estimates. Adjusted EPS of $0.41 also surpassed expectations. Despite declines in advertising and VAS revenues, the stock price gained post-results. Monthly active users were slightly down, but daily active users increased. The company held $3.3 billion in cash and equivalents and generated $139.6 million in operating cash flow. Weibo stock lost 46% in the last 12 months. Investors can gain exposure via IShares MSCI China Small-Cap ETF (NYSE: ECNS) and Fidelity Metaverse ETF (NASDAQ: FMET).

Portfolio Pulse from Anusuya Lahiri

May 23, 2024 | 12:53 pm

ESEA

Euroseas (NASDAQ:ESEA) reported Q1 2024 earnings per share (EPS) of $2.66, missing the analyst consensus estimate of $2.89 by 7.96%. However, the company reported sales of $46.7 million, beating the estimate of $46.313 million by 0.84%. Compared to the same period last year, EPS decreased by 13.92%, while sales increased by 11.36%.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2024 | 12:50 pm

ESEA

Euroseas (NASDAQ:ESEA) reported Q1 2024 earnings per share (EPS) of $2.87, missing the analyst consensus estimate of $2.89 by 0.69%. However, the company reported quarterly sales of $46.70 million, beating the analyst consensus estimate of $46.31 million by 0.84%. This represents an 11.36% increase over sales of $41.94 million in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2024 | 12:45 pm

BJ's Wholesale Club Holdings, Inc. (NYSE:BJ) reported Q1 FY24 earnings that beat analyst estimates, with revenue growth of 4.1% year-on-year to $4.918 billion. Despite a drop in operating income and adjusted EBITDA, the company saw increases in membership fee income and digitally enabled sales. BJ's reaffirmed its FY24 outlook and expects improvements in merchandise gross margins.

Portfolio Pulse from Shivani Kumaresan

May 23, 2024 | 12:44 pm

DAO

ESPO

HERO

NTES

NetEase, Inc. (NASDAQ:NTES) reported Q1 2024 revenue growth of 7.2% year-on-year to $3.72 billion, missing the analyst consensus estimate of $3.79 billion. Adjusted EPADS of $1.81 beat the consensus estimate of $1.79. Key segments showed mixed performance in margins. NetEase's stock traded lower by 3.62% premarket. Investors can gain exposure via VanEck Video Gaming And Esports ETF (NASDAQ:ESPO) and Global X Video Games & Esports ETF (NASDAQ:HERO).

Portfolio Pulse from Anusuya Lahiri

May 23, 2024 | 12:42 pm

CYTK

NVDA

ONMD

Market-Moving News for May 23rd: NVIDIA (NVDA) shares rise 7.77% after strong Q1 2025 results, positive Q2 2025 guidance, a 10-for-1 stock split, and increased dividends. Cytokinetics (CYTK) shares fall 16% following a $500 million public stock offering. OneMedNet (ONMD) shares surge 158% due to significant expansion of its iRWD network and platform.

Portfolio Pulse from ryanfaloona@benzinga.com

May 23, 2024 | 12:40 pm

ASTI

ISPC

NVDA

VFC

NVIDIA Corporation (NASDAQ:NVDA) shares surged over 6% in pre-market trading after reporting strong Q1 financial results, issuing robust Q2 guidance, announcing a 10-for-1 stock split, and raising its quarterly dividend by 150%. Other notable pre-market movers include Ascent Solar Technologies, Inc. (NASDAQ:ASTI), iSpecimen Inc. (NASDAQ:ISPC), and V.F. Corporation (NYSE:VFC).

Portfolio Pulse from Avi Kapoor

May 23, 2024 | 12:39 pm

BRLS

Borealis Foods' CEO Reza Soltanzadeh issued a letter to shareholders highlighting the company's progress and future plans. Key points include improved gross margins through product mix refinement, investments in R&D and marketing, significant sales ramp expected from school systems, and additional institutional sales opportunities. The company is also involved in the Feeding America® 'Fight Hunger. Spark Change.' program. Borealis aims to resolve its going concern issue by the end of 2024.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2024 | 12:37 pm

DXC

HOLI

NICE

The article highlights five oversold tech stocks with RSI values near or below 30, indicating potential buying opportunities. The stocks mentioned are DoubleVerify Holdings, NICE Ltd., Hollysys Automation Technologies, DXC Technology, and BlackLine.

Portfolio Pulse from Avi Kapoor

May 23, 2024 | 12:36 pm