Streetbeat News

Earnings

AMD

AMZN

SBUX

SMCI

TSLA

On Tuesday, major U.S. stock indexes closed lower, with notable movements in shares of Amazon, AMD, Super Micro Computer, Starbucks, and Tesla. Amazon reported a 13% increase in Q1 net sales, beating estimates. AMD's shares fell after lukewarm Q2 revenue guidance despite Q1 results beating expectations. Super Micro's shares dropped after Q3 earnings beat estimates but sales missed expectations. Starbucks reported a 2% decrease in Q2 revenue and a decline in comparable store sales. Tesla shares fell after a previous rally, following progress on its full self-driving technology in China.

Portfolio Pulse from Benzinga Neuro

May 01, 2024 | 2:59 am

AMZN

Amazon.com Inc's CEO Andy Jassy remains optimistic about the future of Amazon Web Services (AWS), highlighting its potential for growth despite the current $100 billion-plus annualized revenue. Jassy emphasized the significant opportunity presented by the shift towards cloud-based gen AI, expecting this to drive a 'meaningful' increase in capital expenditures in 2024 due to high demand. AWS's innovation continues with new services like Deadline Cloud, despite recent workforce reductions aimed at streamlining operations. Amazon's Q1 net sales reached $143.3 billion, a 13% increase year-over-year, beating estimates.

Portfolio Pulse from Ananya Gairola

May 01, 2024 | 1:45 am

MSTR

Bitcoin's recent downward trend has investors eyeing various catalysts for future movements. Markus Thielen's analysis highlights the evolution of Bitcoin trading, emphasizing the importance of market timing due to diminishing returns and the impact of macroeconomic factors and regulatory developments on Bitcoin's valuation. Key events include the SEC's decision on ETF applications, Federal Reserve meetings, and economic data releases. MicroStrategy Inc. (NASDAQ:MSTR), under Michael Saylor's leadership, plays a significant role in influencing Bitcoin's price through strategic financial decisions, with potential implications from its earnings announcement and the adoption of new accounting guidelines.

Portfolio Pulse from Murtuza Merchant

April 30, 2024 | 11:00 pm

AHT

Ashford Hospitality Trust, Inc. (AHT) announced preliminary Q1 2024 financial results, expecting net income of $66.4M-$68.4M, or $0.59-$0.61 per share, and Adjusted EBITDAre of $58.5M-$60.5M. However, Adjusted FFO is projected to be negative, ranging from $(14.7)M to $(12.7)M. Final Q1 results will be released on May 7, 2024. The company emphasizes the use of non-GAAP measures alongside GAAP presentations for a better understanding of operational results.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 10:48 pm

ACB

CGC

MAPS

TLRY

Cannabis stocks experienced significant gains following the DEA's decision to reclassify marijuana from Schedule I to Schedule III, with Canopy Growth Corporation and Aurora Cannabis leading the surge. The move, recommended by the Department of Health and Human Services, has sparked optimism in the market, despite the stocks' history of volatility. Financial performances vary, with Tilray showing strong revenue growth, while Canopy Growth had mixed results. The rescheduling could lead to increased profitability for U.S. cannabis businesses by removing the 280E tax penalty but also introduces potential FDA oversight.

Portfolio Pulse from Nicolás Jose Rodriguez

April 30, 2024 | 10:35 pm

HURN

Huron Consulting Group (HURN) reported Q1 2024 adjusted EPS of $1.23, surpassing the $0.89 estimate, with a 38.2% beat. Year-over-year, earnings increased by 41.38% from $0.87. Sales reached $355.961M, exceeding the $351.014M forecast by 1.41% and marking an 11.97% increase from the previous year's $317.895M.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 10:22 pm

CLWT

Euro Tech Holdings (NASDAQ:CLWT) reported a significant increase in its fiscal year earnings per share (EPS) to $0.24, up from $0.05 the previous year, and a 20.01% increase in sales to $17.94M from $14.95M YoY.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 10:02 pm

DSP

Viant Technology shares surged following the announcement of better-than-expected Q1 results and the authorization of a repurchase program.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 10:01 pm

LMND

Lemonade shares surged following the announcement of its Q1 financial results, which exceeded expectations. Additionally, the company has increased its revenue guidance for FY24, surpassing analyst estimates.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 10:00 pm

ROOT

Root shares are trading higher following the announcement of better-than-expected Q1 financial results.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 9:59 pm