Streetbeat News

Earnings

The Carlyle Group's shares are trading lower following the announcement of their Q1 financial results.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 2:02 pm

CDW

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

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 2:02 pm

GRMN

Garmin's stock price increased following the announcement of their Q1 financial results, which exceeded expectations. The company also confirmed its FY24 adjusted EPS and sales guidance, surpassing analyst estimates.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 2:01 pm

AAPL

AMD

AMZN

SMCI

SWKS

Jim Cramer praised Amazon's Q1 performance as 'spectacular', highlighting momentum in EPS, free cash flow, gross margins, and AWS orders. He noted Super Micro Computer and AMD faced challenges despite good performances, and predicted Skyworks Solutions would impact Apple negatively. Amazon's AI and AWS businesses showed significant revenue, AMD's Q1 exceeded expectations with record data center revenue, but faced lower future revenue guidance. Skyworks exceeded Q2 earnings expectations, yet faced analyst forecast cuts.

Portfolio Pulse from Rounak Jain

May 01, 2024 | 1:56 pm

YUM

Yum! Brands, Inc. (NYSE:YUM) shares fell after missing Q1 earnings and revenue forecasts. The company reported adjusted EPS of $1.15 versus the expected $1.20 and revenues of $1.598 billion against the anticipated $1.710 billion. Despite this, Yum! Brands saw a 6% unit growth with over 800 new openings, aiming to surpass 60,000 restaurants. Worldwide system sales grew 2%, with KFC and Taco Bell each growing at 4%, while Pizza Hut saw a 4% decline. The company also highlighted a record digital sales mix, exceeding 50% for the first time, and completed the acquisition of 218 KFC franchise restaurants in the U.K. and Ireland.

Portfolio Pulse from Nabaparna Bhattacharya

May 01, 2024 | 1:56 pm

AKAN

AMZN

CETX

CTMX

CVRX

LEG

U.S. stocks showed mixed performance with the Dow Jones and NASDAQ experiencing slight gains, while the S&P 500 fell. Amazon reported higher-than-expected first-quarter net sales but projected weaker sales for the next quarter. CytomX Therapeutics, Akanda Corp., and Palisade Bio saw significant stock price increases, while Cemtrex, CVRx, and Leggett & Platt faced sharp declines. The article also touches on sector performances, commodity prices, and global market trends.

Portfolio Pulse from Avi Kapoor

May 01, 2024 | 1:52 pm

GRMN

SNSR

UFO

Garmin Ltd (NYSE:GRMN) reported a 20% year-on-year revenue growth for Q1 2024, reaching $1.38 billion and surpassing the consensus of $1.25 billion. The company's proforma EPS of $1.42 also beat the consensus of $1.01. Revenue growth was seen across all segments, with Fitness growing by 40% and contributions from the acquisition of JL Audio boosting Marine revenue by 17%. Garmin's gross and operating margins improved, and it generated $402.14 million in free cash flow. The company intends to recommend a $3.00 per share dividend and reiterated its FY24 revenue outlook of $5.75 billion and proforma EPS of $5.40. Garmin stock has gained 47% in the last 12 months and saw an 8.82% increase to $157.21 recently. Investors can also gain exposure to Garmin through the Global X Internet Of Things ETF (NASDAQ:SNSR) and Procure Space ETF (NASDAQ:UFO).

Portfolio Pulse from Anusuya Lahiri

May 01, 2024 | 1:47 pm

DuPont De Nemours, Inc. (DD) reported a mixed first-quarter fiscal 2024 with a 3% year-over-year sales decline to $2.931 billion, surpassing consensus estimates. Organic sales dropped by 6%, with varying declines across regions. The company saw a notable recovery in the electronics market, with significant volume growth in Semiconductor Technologies and Interconnect Solutions. Despite a decrease in Water & Protection sales and a contraction in operating EBITDA margins, DuPont beat adjusted EPS expectations and reported a substantial increase in adjusted free cash flow. The company anticipates sequential sales and earnings improvement in Q2 2024, driven by favorable seasonality and continued recovery in electronics. DuPont has raised its 2024 outlook for adjusted EPS and revenue, reflecting optimism about its future performance. Shares surged 7.77% to $78.13 following the announcement.

Portfolio Pulse from Akanksha Bakshi

May 01, 2024 | 1:43 pm

BNTX

GSK

PFE

GSK Plc reported a 10% year-over-year increase in first-quarter sales, reaching $9.33 billion, driven by strong demand for vaccines and asthma drugs. Vaccine sales rose 16%, with Shingrix and Arexvy showing significant growth. Specialty Medicine sales, including HIV, respiratory/immunology, and oncology, increased by 17%. GSK raised its 2024 outlook, expecting adjusted EPS growth of 8% to 10% and sales growth at the upper end of its 5% to 7% forecast. The company also filed a lawsuit against Pfizer Inc. and BioNTech SE for patent infringement related to mRNA COVID-19 vaccines.

Portfolio Pulse from Vandana Singh

May 01, 2024 | 1:42 pm

PINS

Pinterest Inc (NYSE:PINS) shares surged after reporting strong Q1 earnings and upbeat guidance. Revenue hit $740 million, surpassing estimates of $699.872 million, with a smaller-than-expected EPS loss of 4 cents. Year-over-year, revenues grew nearly 23%, and global monthly active users reached a record 518 million. CEO Bill Ready highlighted significant growth and advancements in AI and shoppability. Q2 revenue is expected to be between $835 million to $850 million, exceeding forecasts. Rosenblatt analyst Barton Crockett upgraded the price target from $45 to $48.

Portfolio Pulse from Adam Eckert

May 01, 2024 | 1:32 pm