Streetbeat News

Earnings

ALGM

BILI

BIRK

POOL

SEDG

SMR

SPR

Several major stocks experienced declines in Tuesday's pre-market session. Pool Corporation lowered its FY24 EPS forecast, leading to an 8.6% drop in its share price. SolarEdge Technologies fell 15% after announcing a $300 million convertible notes offering. Spirit AeroSystems dropped 5.4% amid acquisition talks with Boeing. Other notable declines included Birkenstock, Bilibili, Allegro MicroSystems, Sea Limited, and NuScale Power.

Portfolio Pulse from Avi Kapoor

June 25, 2024 | 9:45 am

EADSY

Airbus shares dropped over 10% after the company revised its 2024 targets downward due to supply chain issues and additional costs in its space systems division. The company now expects adjusted earnings before interest and taxes to be around €5.5 billion and forecasts 770 commercial aircraft deliveries for 2024.

Portfolio Pulse from Benzinga Neuro

June 25, 2024 | 9:16 am

HIVE

HIVE Blockchain Technologies reported a fiscal year revenue of $114.5 million, marking an 8% year-over-year increase. However, the company also reported a net loss of $51.2 million.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 7:13 am

IGC

IGC Pharma reported a Q4 2024 GAAP EPS of $(0.04) and sales of $295,000, which beat the analyst estimate of $193,000 by 52.85%. This represents a 77.71% increase over the same period last year.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 6:58 am

ALIM

ANIP

CCL

FDX

NVDA

SNX

The Nasdaq Composite experienced its worst session since April, with Nvidia plunging 7%. The Dow Jones saw modest gains, closing over 260 points higher. Alimera Sciences surged 76% after announcing an acquisition by ANI Pharmaceuticals. Investors are awaiting earnings results from Carnival Corporation, FedEx, and TD SYNNEX.

Portfolio Pulse from Avi Kapoor

June 25, 2024 | 6:45 am

CCL

FDX

SEDG

SNX

SPR

Key stocks to watch on Tuesday include Carnival Corporation, Boeing, Spirit AeroSystems, TD SYNNEX, SolarEdge Technologies, and FedEx. Carnival and FedEx are expected to report earnings, Boeing proposed to acquire Spirit AeroSystems, TD SYNNEX will release earnings, and SolarEdge announced a $300 million convertible notes offering.

Portfolio Pulse from Avi Kapoor

June 25, 2024 | 6:33 am

TSLA

Elon Musk reassures Tesla investors of 'exceptional' long-term returns despite a 26% decline in stock value this year. Tesla's performance has impacted Baron Partners Fund, which remains bullish on the company. Tesla faces industry headwinds, competitive pressure, and margin erosion due to price cuts. The company is shifting focus to AI, robotics, and ancillary businesses like full self-driving technology and energy. Cathie Wood’s Ark Invest predicts Tesla stock could reach $2,600 by 2029.

Portfolio Pulse from Shanthi Rexaline

June 25, 2024 | 6:26 am

AMD

ARM

INTC

QCOM

Arm Holdings CEO Rene Haas believes analysts have underestimated the rapid growth of AI, which is significantly impacting the company's performance. Arm Holdings, recently added to the Nasdaq 100, has seen its stock surge nearly 140% since its public debut in September. The company is positioning itself as a major player in the AI chip market, despite facing legal challenges with Qualcomm.

Portfolio Pulse from Benzinga Neuro

June 25, 2024 | 5:57 am

AFRM

ALNY

CCL

NVDA

TSLA

On Monday, major U.S. indices showed mixed performance. Nvidia's stock fell by 6.68% due to a heavy sell-off and CEO share sale. Affirm Holdings rose by 12.82% after a Goldman Sachs analyst's Buy rating. Carnival Corporation rose by 1.99% ahead of its earnings report. Alnylam Pharmaceuticals surged by 34.52% on positive Phase 3 study results. Tesla fell slightly by 0.23% amid criticism of judicial activism in a case involving Elon Musk's pay package.

Portfolio Pulse from Benzinga Neuro

June 25, 2024 | 2:18 am

DNA

Ginkgo Bioworks has begun implementing a previously announced restructuring plan, which includes a 35% workforce reduction and aims to cut labor expenses by 25%. The initial phase will incur at least $12 million in severance costs. Further details will be provided in the company's Q2 2024 earnings call and subsequent reports.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 9:24 pm