Streetbeat News

Earnings

HSY

Hershey Co. (NYSE:HSY) is set to report Q1 financial results with analysts expecting revenue of $3.11 billion and EPS of $2.76. Rising cocoa prices and competition from MrBeast's Feastables are key concerns. Hershey has a history of beating revenue estimates but faces challenges from higher commodity inflation and market share encroachment by Feastables. Hershey's stock has declined 30% over the last year.

Portfolio Pulse from Chris Katje

May 02, 2024 | 6:38 pm

PTON

Peloton Interactive (NASDAQ:PTON) has seen significant options trading activity, with a bullish sentiment from big-money investors. Benzinga's options scanner revealed 8 trades, showing a preference for calls over puts, indicating expectations of a price increase. The trades suggest a target price window of $5.0 to $7.0. Despite this, PTON's stock is currently down by -10.71%, trading at $2.88, with an earnings announcement imminent. Analysts have mixed views, with an average target price of $3.625.

Portfolio Pulse from Benzinga Insights

May 02, 2024 | 6:33 pm

AMD

MRVL

NVDA

QCOM

UMC

Semiconductor stocks are experiencing an uptick in their trading values after Qualcomm reported strong quarterly results. This positive performance by Qualcomm is seen as a bullish signal for the semiconductor industry, potentially indicating robust demand and operational strength within the sector.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 6:26 pm

AAPL

Apple shares are trading higher in anticipation of the company's Q2 earnings report, which is scheduled to be released after the market closes.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 6:21 pm

BKGI

WBIY

Dominion Energy Inc (NYSE:D) reported Q1 FY24 earnings with revenue of $3.632 billion, missing the consensus of $4.380 billion. Adjusted operating earnings decreased to $483 million from $515 million, and adjusted EPS fell to $0.55 from $0.59, aligning with consensus expectations. The company reaffirmed its FY24 and FY25 EPS guidance, countering rumors of delays in the Coastal Virginia Offshore Wind project. Investors can also gain exposure to Dominion Energy through BKGI and WBIY ETFs. Shares of Dominion Energy were slightly up in the latest trading session.

Portfolio Pulse from Lekha Gupta

May 02, 2024 | 6:15 pm

AMD

INTC

NVDA

QCOM

SOXL

SOXS

SOXX

TSM

Semiconductor stocks rose after the Federal Open Market Committee (FOMC) meeting indicated no rate hikes, with strong earnings from Qualcomm boosting the sector. Nvidia, AMD, and Taiwan Semiconductor saw gains, while Intel experienced a slight drop. The FOMC's stance on interest rates and Qualcomm's earnings report positively impacted the sector, suggesting a favorable environment for high-growth equities like semiconductors. Investors are advised to consider semiconductor-focused ETFs for diversified exposure.

Portfolio Pulse from Johnny Rice

May 02, 2024 | 6:11 pm

LAD

In the past three months, 11 analysts have updated their ratings on Lithia Motors (NYSE:LAD), showing a mix of bullish to bearish sentiments. The average 12-month price target is now $311.27, down 2.82% from $320.30. Analyst actions include both upgrades and downgrades, reflecting dynamic market conditions and company performance. Lithia Motors, a leading auto dealer, reported a 22.77% revenue growth rate as of March 31, 2024, with a net margin of 1.9% and an ROE of 2.59%, indicating strong financial performance.

Portfolio Pulse from Benzinga Insights

May 02, 2024 | 6:00 pm

OGN

PSCH

XPH

Organon & Co (NYSE:OGN) reported a first-quarter revenue of $1.622 billion, a 5% increase year-over-year, surpassing the consensus of $1.563 billion. The growth was led by an 11% increase in Women's Health revenue, notably from Nexplanon, and a 46% surge in Biosimilar revenue, driven by Ontruzant and Renflexis. Despite a flat performance in Established Brands, the company beat adjusted EPS estimates with $1.22 against a consensus of $0.93. However, adjusted gross margin and EBITDA margin saw slight declines. Organon declared a quarterly dividend of $0.28 per share and reaffirmed its FY24 revenue guidance of $6.2 billion to $6.5 billion. OGN shares rose 2.18% to $19.24. Exposure to Organon's stock can also be gained through SPDR S&P Pharmaceuticals ETF (NYSE:XPH) and Invesco S&P SmallCap Health Care ETF (NASDAQ:PSCH).

Portfolio Pulse from Lekha Gupta

May 02, 2024 | 5:58 pm

BHC

Bausch Health Companies Inc. (NYSE:BHC) shares fell after reporting Q1 results that missed analysts' expectations. The company's adjusted EPS was 59 cents, below the expected 72 cents, and sales were $2.153 billion, slightly missing the $2.156 billion forecast. Despite this, sales increased by 11% on a reported basis and 8% on an organic basis, with notable growth in the Bausch + Lomb and Solta Medical segments. The company reaffirmed its 2024 revenue and adjusted EBITDA outlook.

Portfolio Pulse from Nabaparna Bhattacharya

May 02, 2024 | 5:48 pm

IWM

LIN

QCOM

SOXX

U.S. stock markets saw gains with the S&P 500 and Nasdaq 100 up, driven by positive corporate earnings and Fed Chair Jerome Powell's dismissal of a rate hike. Semiconductors, particularly Qualcomm, rebounded strongly. Small caps outperformed large caps, and treasury yields fell, indicating reduced interest rate hike fears. Commodities like gold and crude oil fell, while Bitcoin saw a slight recovery. Notable stock movements included Linde plc and ConocoPhillips dropping due to earnings reports, while Regeneron Pharmaceuticals and Moderna Inc. saw significant gains.

Portfolio Pulse from Piero Cingari

May 02, 2024 | 5:37 pm