Streetbeat News

Earnings

AWEG

SUPL

XPO

Stifel analyst J. Bruce Chan upgraded XPO, Inc. (NYSE:XPO) from Hold to Buy and increased the price target from $115 to $120, citing strong internal productivity management and solid execution on its LTL 2.0 turnaround plan. The company reported strong Q1 FY24 results with revenue up 5.8% Y/Y and operating income more than doubled. Chan also raised EPS estimates for FY24 and FY25. Investors can gain exposure to XPO via ProShares Trust ProShares Supply Chain Logistics ETF (NYSE:SUPL) and The Alger ETF Trust Alger Weatherbie Enduring Growth ETF (NYSE:AWEG).

Portfolio Pulse from Lekha Gupta

May 24, 2024 | 5:48 pm

NDVAF

Indiva Limited (OTCPK: NDVAF), a Canadian cannabis edibles producer, reported a marginal decrease in Q1 2024 revenue to CA$9.3 million, influenced by seasonal declines and regulatory changes. Despite a net loss of CA$1.8 million, the company saw a 160% growth in net revenue from core brands like Pearls by Grön. Indiva projects a promising Q2 2024 with higher net revenue and enhanced margins.

Portfolio Pulse from Patricio Liddle

May 24, 2024 | 5:47 pm

SMCI

Super Micro Computer shares are trading higher as AI stocks rise following NVIDIA's earnings.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 5:42 pm

MRK

MRUS

Merus N.V. (NASDAQ:MRUS) announced promising interim clinical data for its cancer treatment combination of petosemtamab and Merck & Co Inc’s (NYSE:MRK) Keytruda. The data, presented in an abstract for the 2024 ASCO Annual Meeting, showed a 60% response rate in 10 evaluable patients with head and neck squamous cell carcinoma. The combination was well tolerated with manageable side effects. As a result, MRUS shares surged over 30%.

Portfolio Pulse from Vandana Singh

May 24, 2024 | 5:41 pm

CRM

WDAY

Salesforce (CRM) shares are trading lower after Workday (WDAY) reported strong Q1 results but lowered its forward guidance. Salesforce is set to report its Q1 results on May 29, with analysts expecting earnings of $2.38 per share and sales of $9.147 billion. RBC Capital reiterated an Outperform rating for Salesforce with a $350 price target.

Portfolio Pulse from Erica Kollmann

May 24, 2024 | 5:18 pm

WDAY

Workday Inc (NASDAQ:WDAY) shares dropped significantly despite reporting positive Q1 earnings. Analysts have mixed reactions, with many lowering their price targets due to macroeconomic pressures, particularly in Europe, and slower customer headcount growth. The company's fiscal 2025 subscription revenue guidance was also reduced.

Portfolio Pulse from Priya Nigam

May 24, 2024 | 5:15 pm

LUCY

Innovative Eyewear, Inc. (NASDAQ:LUCY) shares are surging on heavy trading volume despite no new company-specific news. The stock has seen over 615 million shares traded, far exceeding its 100-day average volume of 368,000 shares. Last week, the company reported first-quarter GAAP losses of 15 cents per share, beating analyst estimates, but missed revenue expectations. Analysts have a 12-month price target of $1 for the stock, which is currently up 374% to 88 cents.

Portfolio Pulse from Erica Kollmann

May 24, 2024 | 5:13 pm

CRKN

Crown Electrokinetics shares are trading low, likely due to continued weakness following the company's Q1 financial results.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 4:59 pm

DECK

Deckers Outdoor Corp (NYSE:DECK), the maker of Hoka sneakers, reported strong Q4 results, leading to a rise in its stock price. Multiple analysts raised their price targets, citing impressive revenue and earnings growth, driven by the Hoka and UGG brands.

Portfolio Pulse from Priya Nigam

May 24, 2024 | 4:57 pm

CSCO

DIA

IBM

INTC

NVDA

Nvidia (NVDA) reported strong Q1 results and announced a 10-for-1 stock split, potentially positioning itself for inclusion in the Dow Jones Industrial Average (DJIA). Analysts suggest Nvidia could replace Intel (INTC) in the DJIA due to its relevance in AI and technology growth. The stock split is seen as a strategic move to make Nvidia more attractive for retail investors and index inclusion.

Portfolio Pulse from Chris Katje

May 24, 2024 | 4:55 pm