Streetbeat News

Earnings

VYNE

VYNE Therapeutics has presented positive preclinical and Phase 1b data for its novel BET inhibitor, VYN201, at the 2024 SID Annual Meeting, focusing on its application in nonsegmental vitiligo.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 12:45 pm

PALI

SBUX

TGTX

TG Therapeutics shares surged 31% after beating Q1 revenue forecasts and raising its 2024 Briumvi US net product revenue outlook. Starbucks shares fell 13% due to disappointing Q2 earnings. Palisade Bio shares jumped 64% following the completion of its analysis on the effects of PALI-2108.

Portfolio Pulse from ryanfaloona@benzinga.com

May 01, 2024 | 12:44 pm

SBUX

Starbucks Corp (NASDAQ:SBUX) shares fell following a Q2 earnings miss, with revenue of $8.6 billion below the expected $9.129 billion and earnings per share at 68 cents versus the 79 cents forecast. Global comparable store sales dropped 4%, with significant declines in China and internationally. Despite a 6% year-over-year increase in active U.S. rewards memberships and opening 364 new stores, analysts have downgraded and lowered price targets for SBUX, citing cautious consumer spending and a slow recovery in China.

Portfolio Pulse from Adam Eckert

May 01, 2024 | 12:43 pm

RIOT

Riot Platforms Inc (NASDAQ:RIOT) reported Q1 revenue of $79.3 million, missing estimates but achieved positive earnings of 82 cents per share, surpassing expectations for a loss. The company produced 1,264 bitcoin, a 36% decrease due to increased network difficulty. Riot anticipates a self-mining hash rate capacity of 31 EH/s by end of 2024 and 41 EH/s in 2025 with new miner deployments. Shares rose 2.56% to $10.37.

Portfolio Pulse from Adam Eckert

May 01, 2024 | 12:42 pm

PALI

SBUX

TGTX

TG Therapeutics shares surged 31% after reporting a Q1 revenue beat and raising its 2024 Briumvi US net product revenue outlook. Starbucks shares fell 13% due to disappointing Q2 earnings. Palisade Bio shares jumped 64% following the completion of its analysis on the effects of PALI-2108 on TNF-α production.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 12:41 pm

SWKS

Skyworks Solutions, Inc. (NASDAQ:SWKS) reported Q2 earnings of $1.55 per share, surpassing the consensus estimate of $1.52. Sales were $1.05 billion, matching estimates but down 9.28% year-over-year. The company anticipates Q3 revenue of $900 million, below the $1.022 billion estimate. Shares dropped 1.2% following the announcement. TD Cowen and Rosenblatt adjusted their price targets and ratings for SWKS, with TD Cowen downgrading the stock from Buy to Hold.

Portfolio Pulse from Avi Kapoor

May 01, 2024 | 12:39 pm

GHC

Graham Holdings (GHC) reported Q1 adjusted earnings of $11.24 per share, surpassing the $8.96 estimate, a 34.45% increase from last year. However, sales of $1.15B fell short of the $1.17B estimate, despite being an 11.68% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 12:34 pm

DENN

Denny's Corporation (NASDAQ:DENN) reported Q1 earnings below market expectations, with adjusted earnings of 11 cents per share against estimates of 14 cents, and sales of $110.00 million versus expected $115.16 million. Despite the miss, CEO Kelli Valade highlighted positive domestic sales and traffic, and outlined sales driving initiatives for the year. Following the report, Denny's shares dropped 2.3% to $8.02, and analysts from Wedbush and Oppenheimer revised their price targets downwards.

Portfolio Pulse from Avi Kapoor

May 01, 2024 | 12:34 pm

SMP

Standard Motor Products (NYSE:SMP) reported Q1 earnings of $0.45 per share, surpassing the $0.37 estimate, and sales of $331.40M, exceeding the $321.84M estimate. This represents a 26.23% decrease in earnings and a 1.03% increase in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 12:33 pm

NNN

National Retail Properties (NNN) forecasts its FY24 Core Funds From Operations (FFO) to be in the range of $3.25 to $3.31.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 12:33 pm