Streetbeat News

Earnings

PFE

Pfizer Inc. (NYSE:PFE) has announced a $1.5 billion cost reduction initiative to be completed by 2027, building on a previous $4 billion plan. The initiative aims to enhance operational efficiencies and improve the product portfolio. Despite a recent 2.6% rise in share price, Pfizer's stock remains down 24% over the past year. The company has raised its annual earnings forecast and reported a better-than-expected first-quarter profit, partly due to cost reductions. Technical indicators suggest a bullish outlook for Pfizer stock in the near term.

Portfolio Pulse from Surbhi Jain

May 23, 2024 | 5:36 pm

ASML

CSWI

DIA

ELF

ENS

HLNE

LYV

MDT

NVDA

QQQ

SMH

SNOW

SNPS

SPY

TBBB

TLT

TSM

VFC

XLK

XLU

Nvidia's strong quarterly results and revenue guidance led to a 10% surge in its stock, propelling tech indexes to record highs. The Nasdaq 100 and S&P 500 reached new peaks, while the semiconductor sector outperformed. Broader market sentiment turned cautious due to inflation concerns, impacting Treasury yields and causing declines in blue-chip and small-cap stocks. Key stock movers included e.l.f. Beauty, Snowflake, V.F. Corp., EnerSys, BBB Foods, Medtronic, Ralph Lauren, Hamilton Lane, CSW Industrial, Live Nation, and Boeing.

Portfolio Pulse from Piero Cingari

May 23, 2024 | 5:21 pm

CATO

Cato shares are trading higher following the company's report of a year-over-year increase in Q1 EPS results.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2024 | 5:11 pm

SNPS

Analysts have provided mixed ratings for Synopsys (NASDAQ:SNPS) in the latest quarter, with a total of 8 ratings: 4 bullish and 4 somewhat bullish. The average 12-month price target has increased to $648.38, reflecting a positive shift. Synopsys has shown strong financial performance with impressive revenue growth, net margin, ROE, and ROA, and maintains a conservative debt management approach.

Portfolio Pulse from Benzinga Insights

May 23, 2024 | 5:01 pm

INFA

Informatica (NYSE:INFA) has received mixed analyst ratings over the past three months, with a recent decrease in the average 12-month price target by 10.22%. Analysts have provided a range of price targets from $37.00 to $43.00, reflecting a shift in sentiment. Despite positive revenue growth, the company faces challenges with profitability, return on equity, and debt management.

Portfolio Pulse from Benzinga Insights

May 23, 2024 | 5:01 pm

CHWY

Analysts have mixed ratings for Chewy (NYSE:CHWY) with a recent decline in the average 12-month price target. The latest ratings show a trend of analysts lowering their price targets and ratings for the company. Despite positive revenue growth and strong ROE, Chewy faces challenges with net margin and ROA.

Portfolio Pulse from Benzinga Insights

May 23, 2024 | 5:00 pm

NVDA

SNOW

SPRX

Snowflake, Inc (NYSE:SNOW) experienced volatility after its mixed Q1 earnings report, with revenue beating estimates but EPS missing. In contrast, NVIDIA Corporation (NASDAQ:NVDA) surged over 10% post-earnings. Snowflake's CEO hinted at increased collaboration with Nvidia. The Spear Alpha ETF (NASDAQ:SPRX), which holds significant positions in Snowflake, Nvidia, and AMD, is also highlighted as a diversified investment option.

Portfolio Pulse from Melanie Schaffer

May 23, 2024 | 4:59 pm

CLBT

IZRL

Cellebrite DI Ltd. (NASDAQ: CLBT) shares are up after reporting strong Q1 FY24 results, with revenue and adjusted EPS beating expectations. The company sees favorable customer budgets and reaffirms its outlook for the year. Investors can also gain exposure through ARK Israel Innovative Technology ETF (BATS: IZRL).

Portfolio Pulse from Lekha Gupta

May 23, 2024 | 4:58 pm

VFC

V.F. Corporation (NYSE:VFC) shares are trading lower after the company reported worse-than-expected financial results for the fourth quarter, including a loss of 32 cents per share and $2.4 billion in sales, both missing analyst estimates. Analysts have subsequently lowered their price targets for the stock.

Portfolio Pulse from Dylan Berman

May 23, 2024 | 4:42 pm

FDX

Financial giants have made significant bullish moves on FedEx (NYSE:FDX) through options trading. Analysis shows 40% of traders are bullish, while 30% are bearish. The predicted price range for FDX is between $200.0 and $420.0. The stock is currently trading at $247.26, down by 1.91%, with an RSI indicating it may be oversold. An analyst from UBS maintains a Buy rating with a target price of $333.0.

Portfolio Pulse from Benzinga Insights

May 23, 2024 | 4:31 pm