Streetbeat News

Earnings

Toronto-Dominion Bank shares are trading higher following Thursday's earnings report.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 6:49 pm

VFC

Axios reported that VF Corp, the parent company of brands like Vans, Timberland, and The North Face, might be taken private. This comes amid a strategic review, potential divestitures, and recent earnings reports.

Portfolio Pulse from Charles Gross

May 24, 2024 | 6:48 pm

AKAN

DECK

GNLX

MRUS

TLSI

VSTM

U.S. stocks traded higher with the Nasdaq Composite gaining over 1%. Notable stock movements included Akanda Corp. (AKAN) rising 34% after a reverse stock split, Merus N.V. (MRUS) surging 34% following an abstract publication, and Deckers Outdoor Corporation (DECK) increasing 13% due to strong quarterly results. Conversely, Verastem, Inc. (VSTM) shares plummeted 65% after initiating a rolling NDA submission, TriSalus Life Sciences, Inc. (TLSI) fell 21% amid an exchange offer, and Genelux Corporation (GNLX) dropped 41% following a stock offering announcement.

Portfolio Pulse from Avi Kapoor

May 24, 2024 | 6:47 pm

NVDA

QCOM

Qualcomm shares rose by around 4% following NVIDIA's impressive earnings report, which beat expectations. The semiconductor industry experienced a surge as investors reacted positively to NVIDIA's robust financial performance.

Portfolio Pulse from Vaishali Prayag

May 24, 2024 | 6:36 pm

FRTY

SAIA

SUPL

Stifel analyst J. Bruce Chan upgraded Saia, Inc. (NASDAQ:SAIA) from Hold to Buy, despite cutting the price target from $526 to $475. The analyst sees long-term growth potential in the LTL industry and revised EPS estimates for FY24 and FY25. Investors can also gain exposure through ProShares Supply Chain Logistics ETF (NYSE:SUPL) and Alger Mid Cap 40 ETF (NYSE:FRTY).

Portfolio Pulse from Lekha Gupta

May 24, 2024 | 6:09 pm

MGNX

Analysts' ratings for Macrogenics (NASDAQ:MGNX) show mixed sentiments over the last quarter, with a range of bullish to bearish views. The average 12-month price target has decreased to $17.57 from $18.93. Recent analyst actions include both downgrades and upgrades, reflecting dynamic market conditions and company performance. Macrogenics faces financial challenges, including a significant revenue decline and below-average ROE and ROA, but maintains a sound debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

May 24, 2024 | 6:00 pm

GDYN

Wedbush analyst Moshe Katri initiated coverage on Grid Dynamics Holdings Inc (NASDAQ: GDYN) with an Outperform rating and a price target of $13, citing strong first quarter and 2024 results, GenAI initiatives, and significant partnership opportunities. Katri expects mid-single-digit and mid-double-digit revenue growth between 2024 and 2025, respectively.

Portfolio Pulse from Anusuya Lahiri

May 24, 2024 | 5:57 pm

AKAN

NTES

ONMD

VSTM

NetEase, Inc. (NASDAQ:NTES) shares fell 4% after reporting worse-than-expected first-quarter revenue. Despite a 7.2% year-on-year revenue growth to $3.72 billion, it missed the analyst consensus estimate of $3.79 billion. However, the company's adjusted EPADS of $1.81 beat the consensus estimate of $1.79. Other stocks moving significantly include Akanda Corp. (NASDAQ:AKAN), OneMedNet Corporation (NASDAQ:ONMD), and Verastem, Inc. (NASDAQ:VSTM).

Portfolio Pulse from Avi Kapoor

May 24, 2024 | 5:57 pm

BAH

BKE

DECK

DIA

FSLR

INTU

IWM

QQQ

ROST

SPY

STEP

USO

UUP

WDAY

WOOF

XLV

XLY

The Nasdaq 100 surged over 1% on Friday, setting the stage for a record high close and marking its fifth consecutive week of gains. The S&P 500 rose 0.7%, while small-cap stocks saw robust gains. AI-linked stocks and sectors like chipmakers, solar, and power utilities performed well. Treasury yields remained stable, and the U.S. dollar index fell, providing relief to precious metals and crude oil. Several companies saw significant stock movements due to earnings reports.

Portfolio Pulse from Piero Cingari

May 24, 2024 | 5:54 pm

WOOF

Petco Health And Wellness shares are trading higher after RBC Capital maintained an Outperform rating on the stock and raised its price target. The company recently reported better-than-expected Q1 financial results.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 5:54 pm