Streetbeat News

Earnings

CSCO

Options market activity for Cisco Systems (NASDAQ:CSCO) shows a balanced sentiment among investors, with an equal split between bullish and bearish trades. The observed options trades suggest a price target range of $30.0 to $55.0 for CSCO. The volume and open interest in these options have been tracked, indicating significant engagement from investors. Cisco Systems, a leading provider in networking equipment and software, is currently trading at $46.75, with an upcoming earnings announcement in 13 days. The stock's RSI indicators suggest it may be approaching oversold territory.

Portfolio Pulse from Benzinga Insights

May 02, 2024 | 2:19 pm

CMI

Cummins CEO announced during a conference call that the company is increasing its forecast for heavy-duty trucks in North America to 255,000-275,000 units for 2024, but expects a softening in demand in the second half of the year.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 2:16 pm

AMZN

Amazon.com Inc. (NASDAQ:AMZN) is expected to significantly expand its advertising business, leveraging strategies similar to those used by Google and Meta, focusing on performance advertising on its homepage and Amazon Prime. This move is anticipated to create a highly profitable, large-scale business. Amazon's Q1 earnings report showed a 13% year-over-year increase in net sales to $143.3 billion, surpassing expectations. CEO Andy Jassy expressed optimism about the future growth of Amazon Web Services (AWS), noting its potential despite a large portion of global IT spend remaining on-premises. Amazon's stock closed at $175.0, down 3.29% from the previous close, but its Q1 GAAP EPS of $0.98 exceeded estimates.

Portfolio Pulse from Benzinga Neuro

May 02, 2024 | 1:59 pm

NVO

Novo Nordisk's stock is trading lower after the company reported its first-quarter earnings.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 1:57 pm

AAPL

PTON

SPY

Stock indexes rose after the Federal Reserve's decision on Wednesday. Peloton announced a CEO transition and plans to reduce its workforce. Apple is set to report its earnings after the market closes.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 1:56 pm

BWA

BorgWarner Inc. (NYSE:BWA) reported Q1 earnings with adjusted EPS of $1.03, surpassing the analyst consensus of 87 cents, and revenues of $3.595 billion, exceeding expectations of $3.509 billion. Sales grew 6% year-over-year, driven by increased demand, despite the negative impact of foreign currencies. Gross profit rose to $644 million, with a margin expansion to 17.9%. The company announced a $500 million share buyback program, adding to the existing $267 million authorization. BorgWarner raised its FY24 adjusted EPS outlook to $3.80-$4.15 and reiterated its net sales forecast of $14.4 billion to $14.9 billion. Shares surged 7.27% to $35.26.

Portfolio Pulse from Nabaparna Bhattacharya

May 02, 2024 | 1:54 pm

AAPL

Apple Inc. is set to release its Q2 earnings after the market closes on May 2, with analysts forecasting an earnings per share of $1.50, up from $1.42 the previous year, and revenue of $90.01 billion, up from $88.5 billion. The company has faced issues with iPhone alarms not sounding. Shares dropped 0.6% to $169.30 recently. Analysts from Citigroup, Maxim Group, Loop Capital, Barclays, and B of A Securities have provided various ratings and price targets for Apple's stock.

Portfolio Pulse from Avi Kapoor

May 02, 2024 | 1:52 pm

ALLR

EBS

FSLY

K

SGBX

VSTS

XPEL

U.S. stocks traded higher with the Nasdaq Composite surging over 100 points. Kellanova reported better-than-expected Q1 financial results, with a sales decline of 4.3% year-on-year to $3.20 billion, surpassing analyst estimates. Allarity Therapeutics, Emergent BioSolutions, and Safe & Green Holdings saw significant stock price increases following positive news, while Fastly, Vestis Corporation, and XPEL experienced substantial declines after reporting disappointing financial results.

Portfolio Pulse from Avi Kapoor

May 02, 2024 | 1:52 pm

ANGH

Anghami Inc. (NASDAQ:ANGH), the leading MENA region music and entertainment streaming platform, reported an 18% increase in premium subscribers to 1.87 million and an 8% revenue growth in Q1 2024. Gross margin improved from 20% to 26%. The company highlighted its strategic focus on high-margin subscription channels and cost optimization, leading to a reduced operating loss from $5.4 million to $2.7 million. Anghami also completed a significant transaction with OSN Group, enhancing its digital entertainment offerings. Despite challenges in 2023, including currency devaluation and the Gaza war, Anghami's core subscription business continues to grow.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 1:49 pm

SMCI

Financial analysts have observed a bullish trend in Super Micro Computer (NASDAQ:SMCI) based on unusual options trading activity. Analysis revealed 46% bullish and 30% bearish trades among 13 unusual trades, with a notable interest in price targets between $725.0 and $895.0 over the next three months. The company, specializing in high-performance server technology, has seen its stock price increase by 3.32%, reaching $762.82. The next earnings report is expected in 96 days, and the current RSI suggests a neutral market position.

Portfolio Pulse from Benzinga Insights

May 02, 2024 | 1:46 pm