Streetbeat News

Earnings

HOOD

There was a notable options activity on Robinhood Markets (HOOD) with a sweep of 372 contracts for Friday $20 calls near the ask price of $0.79, compared to an open interest of 7195. This activity occurred with Robinhood's stock price at $18.32, ahead of their earnings announcement on May 8th after the market closes.

Portfolio Pulse from Charles Gross

May 06, 2024 | 1:44 pm

QQQ

SPY

Veteran Wall Street investor Ed Yardeni believes we're still in a bull market, supported by a less aggressive Federal Reserve, positive earnings season, and a drop in geopolitical risk premiums, as indicated by the decline in Brent crude oil prices. The normalization of stock market sentiment indicators and recent economic data suggest potential for continued growth. The S&P 500 and Invesco QQQ Trust have shown gains, reflecting investor optimism.

Portfolio Pulse from Piero Cingari

May 06, 2024 | 1:43 pm

AAPL

META

Apple Inc (NASDAQ:AAPL) reported its fiscal Q2 results with a slight revenue increase over Wall Street expectations but saw a drop in overall revenue and iPhone sales. The company announced a $110 billion share buyback, its largest ever, representing a 22% increase YoY. Revenue fell 4% YoY to $90.75 billion, with iPhone sales down 10% YoY. However, services revenue was a highlight, growing 14.2% YoY to $23.9 billion. Apple did not provide official guidance but expects low single-digit sales growth in the June quarter. The company remains secretive about its AI plans, with more details expected at its June developer event.

Portfolio Pulse from Upwallstreet

May 06, 2024 | 1:41 pm

TSN

Tyson Foods Inc (NYSE:TSN) reported mixed Q2 FY24 results with a slight sales decline of 0.46% year-on-year to $13.072 billion, missing analyst estimates. However, gross profit surged 64.3% to $866 million, and adjusted EPS of $0.62 beat the consensus estimate of $0.39. The company saw varied performance across its segments, with Beef and Pork volumes up, but Chicken down. Tyson raised its FY24 adjusted operating income outlook and expects flat sales compared to FY23. TSN shares rose 1.74% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

May 06, 2024 | 1:30 pm

BOWL

Bowlero (NYSE:BOWL) reported Q3 2024 earnings of $0.13 per share, missing the consensus estimate of $0.26 by 50%. Sales were $337.670M, missing estimates by 1.10% but marking a 6.95% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 1:26 pm

BOWL

Bowlero Corp has announced that its revenue and adjusted EBITDA for FY24 are expected to be near the lower end of its previously issued guidance.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 1:25 pm

LYRA

Lyra Therapeutics Inc (NASDAQ:LYRA) stock plummeted 93% to $0.30 after announcing its Phase 3 ENLIGHTEN 1 trial for LYR-210 in chronic rhinosinusitis failed to meet its primary endpoint. Despite some improvements in secondary measures, the trial's main goal was not achieved. The company plans operational changes and workforce reductions to conserve cash. Over the past year, LYRA shares have fallen 88.24%, with a significant drop of 93.98% in the last month. The stock's all-time high was $9.43, indicating a potential upside of 2972.66% from current levels. The stock is considered oversold, with an RSI of 20.68.

Portfolio Pulse from Henry Khederian

May 06, 2024 | 1:25 pm

TSN

During a conference call, Tyson Foods' CFO, John Tyson, expressed optimism about the company's chicken business, stating that it currently faces more tailwinds than headwinds.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 1:21 pm

GLYC

GlycoMimetics Inc. (NASDAQ:GLYC) reported that its Phase 3 study of uproleselan in relapsed/refractory acute myeloid leukemia (R/R AML) failed to meet the primary endpoint of statistically significant improvement in overall survival. The study compared uproleselan combined with chemotherapy against chemotherapy alone, showing a median overall survival of 13 months versus 12.3 months in the placebo group. Despite the setback, the company plans to conduct a comprehensive data analysis for future presentation. GLYC shares plummeted 78.2% to $0.39 in premarket trading following the announcement.

Portfolio Pulse from Vandana Singh

May 06, 2024 | 1:13 pm

CORZ

Core Scientific, Inc. (NASDAQ:CORZ) announced its April 2024 production and operations updates, highlighting significant achievements in bitcoin mining. The company reported earning 803 self-mined bitcoin, totaling 3,628 YTD, and its customers earned an estimated 265 bitcoin. Core Scientific completed the deployment of 2.5 EH/s of S21 miners, contributing to a total energized hash rate of 26.7 EH/s across its data centers. The company also paid off $19 million in debt and is expanding its Denton, Texas data center as part of a growth plan to add 372 megawatts of new infrastructure. Core Scientific sold 584 bitcoin, generating approximately $55.8 million in sales proceeds.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 1:12 pm