Streetbeat News

Earnings

ITW

Illinois Tool Works (ITW) reported Q1 2024 adjusted EPS of $2.44, surpassing the $2.36 estimate, but its sales of $3.973B fell short of the $4.025B forecast, marking a 1.14% decrease from the previous year.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 12:01 pm

BCH

Banco De Chile (NYSE:BCH) reported Q1 2024 earnings of $0.66 per share, surpassing the $0.57 estimate, but sales of $794.5M fell short of the $849.822M forecast, marking a 10.24% decrease from the previous year.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 11:56 am

CLSK

MARA

RIOT

Crypto-related stocks are trading lower due to a decrease in Bitcoin prices. Stocks like CLSK, MARA, and RIOT are also down, partly in sympathy with MicroStrategy's post-earnings drop.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 11:55 am

MASS

908 Devices has increased its full-year 2024 revenue forecast to $63M-$65M, up from the previous estimate of $52M-$54M, significantly surpassing the $52.9M analyst estimate.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 11:54 am

DOW

HUN

KRO

Wall Street's most accurate analysts have provided updates on three materials sector stocks with high dividend yields: Kronos Worldwide, Inc. (KRO), Dow Inc. (DOW), and Huntsman Corporation (HUN). KRO's ratings include an Underweight from Barclays and a Buy from Deutsche Bank, with recent positive financial results. DOW received a Neutral from Mizuho and an upgrade to Overweight from JP Morgan after reporting strong quarterly earnings. HUN was upgraded to Overweight by Wells Fargo and maintained a Buy from Stifel, with an upcoming financial results call.

Portfolio Pulse from Avi Kapoor

April 30, 2024 | 11:54 am

MASS

908 Devices (NASDAQ:MASS) reported Q1 earnings with losses of $(0.33) per share, surpassing the $(0.36) estimate, and sales of $9.99M, exceeding the $9.29M estimate. This represents a 15.38% decrease in losses and a 5.31% increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 11:50 am

CVLT

Commvault has provided its financial outlook for Q1 and the full fiscal year 2025, expecting Q1 revenues between $213M-$216M, surpassing the $210.47M estimate. The company anticipates total fiscal year revenues between $904M-$914M, with significant growth in subscription revenue and ARR.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 11:49 am

CVLT

CommVault Systems (NASDAQ:CVLT) reported Q4 2024 adjusted EPS of $0.79, surpassing the $0.73 estimate, with sales of $223.292M exceeding the $212.507M forecast. This represents a 9.74% increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 11:47 am

CECO

CECO Environmental has reaffirmed its 2024 guidance, expecting revenue of $590M-$610M, in line with consensus estimates, and an Adjusted EBITDA of $67M-$70M. The company anticipates a 10% year-over-year revenue increase and a 20% increase in Adjusted EBITDA, with free cash flow representing 50%-70% of Adjusted EBITDA. This outlook, raised in early March, is supported by a large sales pipeline and potential M&A activities.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 11:46 am

TSLA

Tesla Inc (NASDAQ:TSLA) is undergoing significant workforce reductions, with the departure of two more senior executives, Rebecca Tinucci and Daniel Ho, as CEO Elon Musk pushes for a 'hardcore' approach to headcount and cost reduction. This follows the earlier exit of Drew Baglino and Rohan Patel and comes amid broader challenges for Tesla, including declining sales and pricing pressures. Tesla's Q1 revenue fell to $21.3 billion from $23.33 billion a year earlier, with net profit dropping 55% to $1.13 billion. Tesla's stock saw a 15.3% increase on Monday but fell 1.63% in premarket trading, with a year-to-date decrease of 21.9%.

Portfolio Pulse from Anan Ashraf

April 30, 2024 | 11:45 am