Streetbeat News

Earnings

STLA

TSLA

VWAGY

WKSP

Stellantis N.V. (NYSE:STLA) and Volkswagen AG (OTC:VWAGY) reported disappointing Q1 financials with lower sales and higher costs, following Tesla Inc's (NASDAQ:TSLA) revenue drop. Despite this, both companies maintain their full-year targets. Stellantis plans to launch 25 new models, including 18 EVs, while Volkswagen aims for a revenue rise of 5% and an operating margin of 7-7.5% by 2024. Worksport Ltd (NASDAQ:WKSP) is introducing a solar-powered truck bed cover, indicating innovation in the EV market.

Portfolio Pulse from Upwallstreet

April 30, 2024 | 3:45 pm

HRMY

Harmony Biosciences (NASDAQ:HRMY) announced the acquisition of Epygenix Therapeutics, expanding its CNS-focused pipeline with a rare epilepsy franchise. The deal includes up to $645 million in milestone payments. Harmony reported Q1 earnings with an EPS of $0.88, beating the consensus of $0.62, and sales of $154.6 million. The company reaffirmed its 2024 revenue guidance of $700 million to $720 million. HRMY shares rose 9.79% to $32.11.

Portfolio Pulse from Vandana Singh

April 30, 2024 | 3:44 pm

IPGP

IPG Photonics shares are trading lower following the announcement of disappointing Q1 sales results and the issuance of Q2 guidance that fell below analyst estimates.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 3:40 pm

QSR

Restaurant Brands shares surged following the announcement of their Q1 earnings, which exceeded market expectations.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 3:39 pm

AMT

JPRE

SRVR

American Tower Corp (NYSE: AMT) reported a 2.4% year-on-year increase in Q1 2024 revenue to $2.834 billion, surpassing estimates. AFFO per share rose 9.8% to $2.79, beating consensus. The company saw growth in property revenue, tenant billings, and organic tenant billings, alongside a 47.5% increase in free cash flow. With $2.5 billion in cash, and positive trends across various markets, American Tower raised its FY24 outlook. AMT shares fell 0.55% to $174.02. AMT is also accessible through SRVR and JPRE ETFs.

Portfolio Pulse from Anusuya Lahiri

April 30, 2024 | 3:38 pm

TKR

Timken shares surged following the announcement of better-than-expected Q1 adjusted EPS results and an upward revision of its FY24 adjusted EPS guidance.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 3:35 pm

GPK

Graphic Packaging Holding shares are trading lower following the announcement of Q1 revenue results that fell short of expectations.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 3:27 pm

ETRGF

Entourage Health Corp. reported its fiscal year 2023 financial results, showing a slight decrease in net revenue to CA$40.7 million, but a significant 126% increase in gross profit and a 62.5% reduction in net loss. The company's EBITDA loss improved by 79% due to discontinuation of cultivation activities. Shares of Entourage traded 7.33% lower at $0.0091 per share.

Portfolio Pulse from Jelena Martinovic

April 30, 2024 | 3:25 pm

SIRI

Sirius XM Holdings shares are trading lower, reversing after earlier gains due to better-than-expected Q1 earnings.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 3:23 pm

AAPL

AMD

AMZN

LLY

NXPI

SMCI

SSNLF

Samsung Electronics Co Ltd (OTC:SSNLF) has surpassed Apple Inc (NASDAQ:AAPL) as the largest provider of smartphones, driven by its AI phone's popularity. Eli Lilly And Co (NYSE:LLY) and NXP Semiconductors NV (NASDAQ:NXPI) reported earnings above consensus, with LLY raising its FY24 EPS projection. Advanced Micro Devices, Inc. (NASDAQ:AMD), Amazon.com, Inc. (NASDAQ:AMZN), and Super Micro Computer Inc (NASDAQ:SMCI) are set to report earnings, providing further insight into AI demand. The Eurozone economy showed resilience with a Q1 GDP growth of 0.3%. Early trade money flows are positive in AMZN, neutral in AAPL and Alphabet Inc Class C (NASDAQ:GOOG), and negative in Meta Platforms Inc (NASDAQ:META), Microsoft Corp (NASDAQ:MSFT), NVIDIA Corp (NASDAQ:NVDA), Tesla Inc (NASDAQ:TSLA), SPDR S&P 500 ETF Trust (NYSE:SPY), and Invesco QQQ Trust Series 1 (NASDAQ:QQQ).

Portfolio Pulse from The Arora Report

April 30, 2024 | 3:19 pm