Streetbeat News

Earnings

DFH

Dream Finders Homes shares are trading lower following the announcement of their Q1 financial results, which did not meet expectations.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 1:23 pm

CNPOF

SMG

Scotts Miracle-Gro (NYSE:SMG) reported Q2 fiscal 2024 sales of $1.53 billion, consistent with the previous year, despite a 28% decline in sales from its Hawthorne Gardening subsidiary, which focuses on cannabis cultivation supplies. The company is in talks for a potential merger with RIV Capital (OTC:CNPOF), aiming for a transformative impact on its long-term investment strategy. Scotts Miracle-Gro has made significant operational improvements, including a leaner organization and a focus on high-margin proprietary brands, leading to a net income increase to $157.5 million from $109.4 million year-over-year.

Portfolio Pulse from Nina Zdinjak

May 02, 2024 | 1:19 pm

LNTH

Lantheus shares surged following the announcement of stronger than anticipated Q1 results and an upward revision of its FY24 adjusted EPS forecast.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 1:18 pm

FTDR

Frontdoor has reaffirmed its fiscal year 2024 revenue guidance, maintaining its forecast in the range of $1.81 billion to $1.84 billion, which aligns closely with the market estimate of $1.833 billion.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 1:17 pm

CORT

Corcept Therapeutics' shares surged following the announcement of their Q1 financial results, which exceeded expectations. Additionally, the company raised its FY24 revenue guidance above analysts' estimates.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 1:17 pm

VSTS

Vestis shares are trading lower following the announcement of Q2 earnings per share (EPS) and sales that fell short of expectations.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 1:16 pm

CRAI

CRA International has reaffirmed its fiscal year 2024 revenue guidance to be in the range of $645 million to $675 million, aligning closely with the analyst estimate of $656.219 million.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 1:16 pm

FSLR

First Solar, Inc. (NASDAQ:FSLR) reported first-quarter earnings surpassing expectations with GAAP earnings of $2.20 per share against estimates of $1.97 and sales of $794 million versus expected $702.175 million. The company maintained its 2024 guidance with earnings of $13 to $14 per share and revenue of $4.4 to $4.6 billion. Following the announcement, analysts from Goldman Sachs, Morgan Stanley, Mizuho, Jefferies, and Oppenheimer raised their price targets on FSLR.

Portfolio Pulse from Avi Kapoor

May 02, 2024 | 1:16 pm

FTHI

KOMP

STLA

TSLA

Stellantis NV is shifting its engineering recruitment to lower-cost countries like Morocco, India, and Brazil to counter cheaper Chinese EVs and reduced demand. The move aims to reduce costs amid declining EV demand, a strategy also seen in other Western automakers like Tesla Inc and Volkswagen AG. Stellantis plans to cut jobs, including 400 engineering positions in Michigan, and aims for two-thirds of its engineering workforce in cost-effective regions. Despite a 12% drop in net revenues to $44.6 billion in Q1, Stellantis is launching 25 new models in 2024. Its stock gained 38% in the last 12 months, with exposure through FTHI and KOMP ETFs.

Portfolio Pulse from Anusuya Lahiri

May 02, 2024 | 1:15 pm

CTVA

Corteva's stock price increased following the announcement of mixed Q1 earnings results. The company's performance in this quarter has attracted investor attention, leading to a positive movement in its share price.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 1:15 pm