Streetbeat News

Earnings

PENN

PENN Entertainment, Inc. (NASDAQ:PENN) shares dropped after reporting Q1 financial results that fell short of expectations. The company reported a loss of 79 cents per share, missing the consensus estimate of a 59 cents loss, and quarterly sales of $1.607 billion, below the expected $1.627 billion. Despite challenges, including unfavorable outcomes from major sporting events, the company highlighted the resilience of its property level performance and the success of ESPN BET in driving demand. Total liquidity stood at $1.9 billion, with net debt at $1.7 billion.

Portfolio Pulse from Erica Kollmann

May 02, 2024 | 4:06 pm

FSLY

Fastly, Inc. (NYSE:FSLY) shares dropped after issuing weak Q2 and FY guidance despite better-than-expected quarterly results. The company's Q2 and full-year revenue and earnings forecasts fell below analysts' expectations, leading to downgrades by B of A Securities and DA Davidson with lowered price targets. Fastly's year-to-date share performance has outperformed its historical averages, with a current RSI indicating neutral conditions.

Portfolio Pulse from Erica Kollmann

May 02, 2024 | 4:05 pm

NC

NACCO Industries reported a year-over-year increase in Q1 revenue results, leading to a rise in its share price.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 4:04 pm

ETSY

Etsy Inc (NASDAQ:ETSY) shares fell sharply after reporting disappointing Q1 results, with analysts adjusting their ratings and price targets. The company faces challenges in balancing growth and margins amid a tough discretionary spending environment. Analysts noted a decline in gross merchandise sales (GMS) but highlighted management's efforts in marketing and product launches to counteract these trends. Despite the current challenges, there is an expectation of GMS improvement in the second half of the year.

Portfolio Pulse from Priya Nigam

May 02, 2024 | 4:03 pm

MNTX

Manitex International's shares surged following the announcement of Q1 financial results that exceeded expectations, alongside a reiteration of their FY24 revenue guidance.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 4:03 pm

MRAM

Everspin Technologies reported mixed Q1 financial results and provided Q2 revenue guidance below expectations, leading to a decrease in its stock price. Needham maintained a Buy rating but lowered the price target from $12 to $8.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 4:01 pm

HII

MISL

SHLD

Huntington Ingalls Industries Inc (NYSE:HII) reported first-quarter FY24 results with a 4.9% Y/Y increase in sales and service revenue to $2.81 billion, surpassing the consensus of $2.79 billion. EPS rose 19.8% Y/Y to $3.87, beating the consensus of $3.49. Operating income grew 9.2% Y/Y to $154 million. The company saw strong growth in Mission Technologies and stable shipbuilding progress, reiterating its FY24 outlook with expected Shipbuilding revenue of $8.8 billion-$9.1 billion and Mission Technologies revenue of $2.70 billion-$2.75 billion. Despite these positive results, HII shares dropped 11.03% to $246.35. Investors can also gain exposure to HII through Global X Funds Global X Defense Tech ETF (NYSE:SHLD) and First Trust Indxx Aerospace & Defense ETF (NYSE:MISL).

Portfolio Pulse from Lekha Gupta

May 02, 2024 | 4:01 pm

EQH

Equitable Holdings (NYSE:EQH) has received diverse analyst ratings over the last three months, with 6 analysts offering views ranging from bullish to bearish. Recent updates show an average 12-month price target of $43.83, marking a 7.35% increase from the previous target. Analysts from firms like Truist Securities, Morgan Stanley, and Wells Fargo have raised their price targets, reflecting optimism about the company's performance. Equitable Holdings, a financial services company, has shown strong financial indicators such as revenue growth, net margin, and ROE, despite a high debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

May 02, 2024 | 4:00 pm

NVST

Analysts have provided diverse evaluations of Envista Holdings (NYSE:NVST) over the last three months, with a consensus indicating a neutral to somewhat bearish outlook. The average 12-month price target for NVST has been adjusted to $20.5, a significant decrease from the previous $28.33. This adjustment reflects a downward trend in analyst expectations, influenced by Envista Holdings' recent financial performance, including a revenue decline of -2.3% and a net margin of -33.67%. Despite a strong Return on Equity (ROE) of -5.14%, challenges in revenue growth, net margin, and Return on Assets (ROA) have impacted analysts' views.

Portfolio Pulse from Benzinga Insights

May 02, 2024 | 4:00 pm

ELEV

Elevation Oncology's stock price declined following the announcement of disappointing Q1 GAAP EPS results.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 4:00 pm