Streetbeat News

Earnings

ALLR

Allarity Therapeutics Inc (NASDAQ:ALLR) shares rose due to positive outcomes from its Phase 2 clinical trial of stenoparib for advanced recurrent ovarian cancer. The trial showed significant clinical benefits, including tumor shrinkage and long-term disease stability, leading to its early discontinuation to accelerate the development of a follow-on trial. The company's shares increased by 6.57% to $1.46.

Portfolio Pulse from Vandana Singh

May 02, 2024 | 4:29 pm

HIPO

Hippo Holdings shares are trading lower following the announcement of worse-than-expected Q1 GAAP EPS results.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 4:28 pm

SPY

The April jobs report is anticipated to show a slight decrease in nonfarm payrolls to 243,000 from March's 303,000, with the unemployment rate expected to remain steady at 3.8%. Economists predict a minor slowdown in average hourly earnings growth year-on-year from 4.1% to 4%. The SPDR S&P 500 ETF Trust (SPY) historically reacts positively to strong jobs reports, with a notable exception in March when an unexpected rise in unemployment led to a negative return.

Portfolio Pulse from Piero Cingari

May 02, 2024 | 4:28 pm

WEAV

Weave Communications shares are trading lower following the announcement of their Q1 financial results.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 4:24 pm

OLPX

Olaplex Holdings' shares surged following the announcement of Q1 revenue results that exceeded expectations, along with the issuance of optimistic revenue guidance for FY24.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 4:23 pm

GCI

Gannett shares surged following the announcement of better-than-expected Q1 financial results and the reiteration of its FY24 and Mid-Term outlook.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 4:22 pm

COP

IEO

XLE

ConocoPhillips (NYSE:COP) reported Q1 FY24 earnings with revenue of $14.476 billion and adjusted EPS of $2.03, both missing consensus estimates of $15.047 billion and $2.04, respectively. Production increased to 1,902 MBOED, up 110 MBOED Y/Y. The average realized price for oil declined by 7% Y/Y to $56.60 per BOE. The company declared a quarterly dividend of $0.58 per share and a VROC of $0.20 per share. ConocoPhillips expects Q2 production of 1.91 to 1.95 million BOED. Shares fell 1.92% to $122.95.

Portfolio Pulse from Lekha Gupta

May 02, 2024 | 4:22 pm

GOLD

Barrick Gold Corp (NYSE:GOLD) exceeded Q1 earnings expectations with an adjusted EPS of $0.19, surpassing the $0.15 estimate, and reported sales of $2.747 billion. Despite missing Q1 production targets, the company maintains its 2024 outlook for steady gold production increases. BMO Capital Markets analyst Jackie Przybylowski highlights Barrick's potential for 'catch up' and growth, maintaining an Outperform rating with a target price of $26. The company's strategic initiatives and a recent Golden Cross formation in its stock indicate a bullish trend.

Portfolio Pulse from Surbhi Jain

May 02, 2024 | 4:21 pm

MSGS

PSCU

SIXS

Madison Square Garden Sports Corp (NYSE:MSGS) reported a fiscal third-quarter 2024 revenue of $429.95 million, surpassing Wall Street estimates but fell short on earnings per share at $1.57 against an expected $2.60. Revenue growth of 12% year over year was driven by higher ticket sales, suite revenues, and other related income. Despite this, MSGS shares dropped 1.19% to $184.94. The stock is also part of Invesco S&P SmallCap Utilities & Communication Services ETF (NASDAQ:PSCU) and ETC 6 Meridian Small Cap Equity ETF (NYSE:SIXS).

Portfolio Pulse from Anusuya Lahiri

May 02, 2024 | 4:18 pm

RM

Regional Management's shares surged following the announcement of their Q1 financial results, which exceeded market expectations.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 4:17 pm