Streetbeat News

Earnings

DRI

Darden Restaurants, Inc. (NYSE:DRI) reported better-than-expected Q4 earnings and increased its quarterly dividend. Sales grew 6.8% Y/Y to $2.957 billion, missing estimates. Adjusted EPS of $2.65 topped consensus. The company declared a quarterly cash dividend of $1.40 per share. Analysts revised their price targets: Stifel cut to $180, B of A Securities raised to $185, and Stephens & Co. maintained at $165.

Portfolio Pulse from Avi Kapoor

June 21, 2024 | 1:05 pm

CRLBF

CURLF

IIPR

NLCP

TCNNF

New Lake Capital Partners (OTC:NLCP) has seen an 11% rise in stock price over the past 90 days due to strategic investments in cannabis-focused real estate. The company recently invested $16 million in a Connecticut property, expanding its portfolio to 31 properties valued at $385 million. Key tenants include Curaleaf, Cresco Labs, Trulieve, and others. NLCP's financial health is bolstered by a strong cash position, a recent dividend increase, and a competitive valuation compared to peers like Innovative Industrial Properties (NYSE:IIPR).

Portfolio Pulse from Nicolás Jose Rodriguez

June 21, 2024 | 1:01 pm

WGO

Winnebago Industries, Inc. (NYSE:WGO) reported disappointing Q3 results, missing both earnings and revenue estimates. Despite challenges in the Motorhome segment, the Towable RV business showed growth. Analysts from Baird and BMO Capital cut their price targets but maintained Outperform ratings. The company also announced a quarterly dividend and upcoming product releases.

Portfolio Pulse from Avi Kapoor

June 21, 2024 | 12:59 pm

ADBE

CVX

FLNG

XOM

On CNBC's 'Halftime Report Final Trades,' experts discussed Chevron, Adobe, FLEX LNG, and Electronic Arts. Chevron and Exxon Mobil plan to file a lawsuit against the Biden administration's emission cuts. FLEX LNG has a 12% dividend yield and posted strong Q1 results. Adobe beat Q2 earnings estimates, and Electronic Arts is set to host an Investor Day.

Portfolio Pulse from Avi Kapoor

June 21, 2024 | 12:51 pm

KMX

CarMax Inc (NYSE:KMX) reported a mixed Q1 FY25 with a 7.5% decline in total net sales and operating revenues, missing analyst estimates. Despite a decrease in unit sales and gross profit, CarMax Auto Finance's income grew by 7%. The company's CEO highlighted positive trends amid challenges. Shares are trading slightly higher in premarket.

Portfolio Pulse from Shivani Kumaresan

June 21, 2024 | 12:50 pm

CLOV

DMTK

SPEC

SRPT

TPHS

Sarepta Therapeutics shares surged 35.2% in pre-market trading following expanded FDA approval of ELEVIDYS for Duchenne Muscular Dystrophy patients aged 4 and above. Other notable pre-market movers include Spectaire Holdings, DermTech, and Trinity Place Holdings among others.

Portfolio Pulse from Avi Kapoor

June 21, 2024 | 12:22 pm

NKLA

Nikola Corporation (NASDAQ:NKLA) shares are gaining in the premarket session after a significant 31.5% dip the previous day. The company announced a 1-for-30 reverse stock split effective June 24, aiming to increase its stock price and prevent delisting. However, challenges persist, including a multi-billion dollar lawsuit from founder Trevor Milton and removal from the Russell 3000 Index. Nikola's Q1 results showed a decline in sales and production compared to the previous year.

Portfolio Pulse from Nabaparna Bhattacharya

June 21, 2024 | 12:19 pm

NVDA

Nvidia Corp. (NASDAQ:NVDA) is expected to see a nearly 30% pullback ahead of its late-August earnings, according to Michael Kramer of Mott Capital Management. Despite its high valuation and recent gains, technical charts suggest a significant downside. Nvidia's shares have been a major driver of the current market rally, and a drop could impact broader market sentiment.

Portfolio Pulse from Shanthi Rexaline

June 21, 2024 | 12:10 pm

ACST

Acasti Pharma reported a significant improvement in its FY24 revenue, with a loss of $1.35 million compared to a loss of $5.71 million year-over-year.

Portfolio Pulse from Benzinga Newsdesk

June 21, 2024 | 12:09 pm

SLE

Super League Gaming (SLE) has issued a mid-year update from CEO Ann Hand, highlighting expectations for record revenues in 2024 and profitability in the second half of the year. The company has over 130 million monthly active users engaged through more than 7,000 experiences.

Portfolio Pulse from Benzinga Newsdesk

June 21, 2024 | 12:06 pm