Streetbeat News

Earnings

IYK

VTI

Coca-Cola Co (NYSE:KO) reported a 3% year-on-year sales growth for Q1 FY24, reaching $11.3 billion and surpassing analyst expectations. Adjusted EPS was $0.72, also above forecasts. Analysts from Goldman Sachs, BofA Securities, and Truist Securities remain optimistic, citing strong organic revenue growth, updated FY24 guidance, and effective marketing strategies. Despite near-term concerns, the consensus is bullish with price targets adjusted accordingly. Coca-Cola's stock saw a 1.08% increase to $62.44. Exposure to Coca-Cola can also be gained through IShares U.S. Consumer Staples ETF (NYSE:IYK) and Vanguard Total Stock Market Index Fund ETF (NYSE:VTI).

Portfolio Pulse from Shivani Kumaresan

May 01, 2024 | 6:48 pm

UTHR

United Therapeutics Corporation (NASDAQ:UTHR) reported a 34% increase in first-quarter sales to $677.7 million, surpassing the consensus of $623.9 million. EPS rose to $6.17 from $4.86, beating the consensus of $5.56. The company highlighted record revenue, double-digit year-over-year growth, and significant increases in Tyvaso, Tyvaso DPI, Nebulized Tyvaso, Orenitram, and Unituxin sales. A $1 billion accelerated share repurchase was implemented, reflecting confidence in the company's potential despite upcoming competition. UTHR shares rose 8% to $253.08.

Portfolio Pulse from Vandana Singh

May 01, 2024 | 6:35 pm

CETX

CTMX

CVRX

LEG

PFE

RCKY

TMDX

U.S. stocks rose following the Federal Reserve's decision to maintain the federal funds rate at 5.25% to 5.5%. The Dow Jones gained over 200 points, while the NASDAQ and S&P 500 also saw increases. Pfizer reported better-than-expected Q1 financial results, with adjusted EPS and sales beating consensus. CytomX Therapeutics, TransMedics Group, and Rocky Brands saw significant stock increases after positive financial updates. Conversely, Cemtrex, CVRx, and Leggett & Platt experienced notable declines following financial results and updates.

Portfolio Pulse from Avi Kapoor

May 01, 2024 | 6:32 pm

BAC

FITB

WFC

JPMorgan analyst Vivek Juneja highlights a positive outlook for Bank of America Corp (BAC) and Fifth Third Bancorp (FITB), citing benefits from sustained high interest rates and a recovering economy. Juneja is overweight on both stocks, with year-end price targets of $40.50 for BAC and $39.50 for FITB. Wells Fargo & Co (WFC) is also mentioned as poised for growth, particularly with an expected asset cap lift.

Portfolio Pulse from Surbhi Jain

May 01, 2024 | 6:27 pm

CENX

Century Aluminum shares are trading lower due to a Q1 revenue miss.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 6:19 pm

MMSI

Merit Medical Systems (NASDAQ:MMSI) has been the subject of diverse analyst ratings over the last three months, with 11 analysts offering views that range from bullish to bearish. The recent ratings show a mix of 5 bullish, 5 somewhat bullish, and 1 indifferent, with an upward trend in the 12-month price target to an average of $93.45. Analyst actions include both raises and lowers in ratings and price targets, reflecting ongoing market conditions and company performance. Merit Medical Systems, a medical equipment company, has shown solid financial performance with a revenue growth rate of 10.6%, a net margin of 8.51%, and strong ROE and ROA figures.

Portfolio Pulse from Benzinga Insights

May 01, 2024 | 6:01 pm

PCAR

PACCAR (NASDAQ:PCAR) has been analyzed by 8 analysts in the last three months, showing a mix of bullish to bearish sentiments. Recent ratings indicate a shift towards a more positive outlook, with an average 12-month price target of $125.38, marking an 8.24% increase from the previous target. Analyst actions include both upgrades and downgrades, reflecting responses to market conditions and PACCAR's performance. The company, known for its medium- and heavy-duty trucks, has shown strong financial health with a revenue growth of 11.65%, a net margin of 15.61%, and above-average ROE and ROA.

Portfolio Pulse from Benzinga Insights

May 01, 2024 | 6:01 pm

EXEL

Exelixis (NASDAQ:EXEL) received varied analyst ratings in the last quarter, with a shift towards more bullish views in the last 30 days. The average 12-month price target for EXEL is now $26.4, reflecting a 6.67% increase from the previous target. Analysts from firms like TD Cowen, Barclays, JMP Securities, RBC Capital, and Stifel have adjusted their ratings and price targets, indicating a positive outlook on Exelixis's performance. The company, known for its cancer treatments, has shown a revenue growth of 13.15% but faces challenges in profitability and efficiency metrics compared to industry benchmarks.

Portfolio Pulse from Benzinga Insights

May 01, 2024 | 6:01 pm

CSR

Center (NYSE:CSR), a real estate investment trust (REIT), has been analyzed by 4 analysts revealing a mix of bullish and indifferent sentiments with no bearish views. The average 12-month price target for CSR is $63.25, up from $62.00, with targets ranging from $59.00 to $68.00. Recent analyst actions include ratings adjustments and price target changes by RBC Capital and Baird, reflecting updated market conditions and company performance. Despite a market cap below industry average and a revenue decline of -4.99% as of March 31, 2024, Center's net margin and ROE outperform industry averages, while its ROA and debt management indicate areas for improvement.

Portfolio Pulse from Benzinga Insights

May 01, 2024 | 6:00 pm

SBUX

Starbucks Corp (NASDAQ:SBUX) shares fell after reporting a miss in revenue and earnings for the fiscal second quarter. Analysts from Stifel, Wedbush, and TD Cowen have lowered their price targets for SBUX, citing significant transaction weakness in the U.S., softness in China, and a decline in Starbucks Rewards members. The company has revised its FY24 guidance downwards and plans to implement product innovations, new marketing tactics, and operational enhancements to improve sales.

Portfolio Pulse from Priya Nigam

May 01, 2024 | 5:41 pm