Streetbeat News

Earnings

CPAY

IPAY

TMSL

Corpay, Inc. (NYSE:CPAY) has announced a definitive agreement to acquire GPS Capital Markets, LLC, a company specializing in cross-border and treasury management solutions. The acquisition is expected to close in early 2025, subject to regulatory approval. Corpay anticipates significant revenue and expense synergies from the deal, which will be accretive to its 2025 cash EPS. The company expects its second quarter 2024 results to align with its financial guidance, projecting revenues of $960 million-$980 million and adjusted EPS of $4.45-$4.55. Corpay's cash and equivalents stood at $3.2 billion as of March 31, 2024. Investors can gain exposure to CPAY via Amplify Mobile Payments ETF (NYSE:IPAY) and T. Rowe Price Small-Mid Cap ETF (NYSE:TMSL).

Portfolio Pulse from Lekha Gupta

June 20, 2024 | 9:48 am

IWM

MSFT

NVDA

QQQ

Market strategist Thomas Hayes from Great Hill Capital has expressed caution regarding Nvidia's (NVDA) short-term performance despite its recent rally. He believes the stock's high earnings multiple and reliance on maintaining high gross margins may not be sustainable. Hayes also expects Nvidia and other tech giants like Microsoft (MSFT) to underperform in the second half of the year, while small-cap stocks and ETFs like iShares Russell 2000 (IWM) may see better performance if the Federal Reserve cuts interest rates.

Portfolio Pulse from Shanthi Rexaline

June 20, 2024 | 8:38 am

ACN

CRMT

DRI

JBL

MSFT

NVDA

Investor sentiment improved as the S&P 500 hit another record close on Tuesday. Nvidia surpassed Microsoft to become the most valuable public company, while America's Car-Mart shares fell due to poor earnings. Investors await earnings from Accenture, Jabil, and Darden Restaurants.

Portfolio Pulse from Avi Kapoor

June 20, 2024 | 8:08 am

ACN

DRI

HPE

JBL

KBH

Several key stocks are expected to grab investor focus today, including Darden Restaurants, KB Home, Jabil Inc, Hewlett Packard Enterprise, and Accenture. Darden and Jabil are set to report earnings, while KB Home has already posted better-than-expected results. Hewlett Packard Enterprise announced a partnership with Nvidia, and Accenture is also expected to report earnings.

Portfolio Pulse from Avi Kapoor

June 20, 2024 | 7:42 am

CPAY

Corpay has signed a definitive agreement to acquire GPS Capital Markets, aiming for $2 billion in revenue by 2026. The transaction is expected to close in early 2025, subject to regulatory approval and standard closing conditions. The acquisition is expected to be accretive to revenue and EPS growth in 2025. The company also reiterated its Q2'24 outlook.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 5:46 am

GMS

GMS Inc. (NYSE:GMS) is expected to report lower Q4 earnings at $2.04 per share, down from $2.11 per share a year ago, with projected revenue of $1.4 billion. The company recently agreed to acquire Yvon Building Supply for up to C$196.5 million. Analysts have mixed ratings, with price targets ranging from $88 to $105.

Portfolio Pulse from Avi Kapoor

June 20, 2024 | 5:29 am

POAHY

RACE

TSLA

Ferrari is set to launch its first electric car in late 2025, priced at over $500,000, significantly higher than competitors like Tesla's Roadster and Porsche's Taycan. The new EV will be produced in a new plant in Maranello, Italy, which will increase Ferrari's production capacity. Ferrari reported strong financials for Q1 2024, with sales growth of 11% year-on-year.

Portfolio Pulse from Anan Ashraf

June 19, 2024 | 9:12 am

AAPL

MSFT

NVDA

Nvidia has become the world's most valuable company, surpassing Microsoft and Apple, driven by the AI boom. Ellen Hazen of F.L. Putnam Investment Management highlighted Nvidia's strong financial performance and its central role in the AI market. Despite concerns about potential market pullbacks, Nvidia's stock has surged, closing at $135.58 with a significant earnings surprise.

Portfolio Pulse from Benzinga Neuro

June 19, 2024 | 9:03 am

ACN

LHX

Accenture (NYSE:ACN) is set to release its Q3 financial results on Thursday, with analysts expecting earnings of $3.15 per share and revenue of $16.54 billion. The company recently announced a strategic collaboration with L3Harris Technologies (NYSE:LHX). Analysts have revised their ratings and price targets for Accenture ahead of the earnings call.

Portfolio Pulse from Avi Kapoor

June 19, 2024 | 8:42 am

VFF

Village Farms International (NASDAQ:VFF) has seen a 23% drop in stock price over the past month, but shows strong financial health with significant sales growth and improved margins. Analyst Pablo Zuanic highlights the company's strategic market positioning and undervaluation, suggesting a buying opportunity.

Portfolio Pulse from Nicolás Jose Rodriguez

June 19, 2024 | 2:10 am