Streetbeat News

Earnings

TSLA

Tesla, Inc. (NASDAQ:TSLA) shares surged after CEO Elon Musk's unexpected visit to China, meeting Premier Li Qiang and other officials, sparking a series of positive announcements. Future Fund's Gary Black speculates this effort is to secure approval for Musk's 2018 compensation plan at the 2024 shareholder meeting, especially after a positive Q1 earnings call and a deal with Baidu ($BIDU). Tesla's recent proxy statement calls for a re-vote on Musk's compensation plan, previously rescinded by a court. Tesla's stock fell over 2% in premarket trading following a 15% rise.

Portfolio Pulse from Shanthi Rexaline

April 30, 2024 | 11:03 am

SCL

Stepan (NYSE:SCL) reported Q1 2024 adjusted EPS of $0.64, surpassing the $0.35 estimate, but its sales of $551.418M fell short of the expected $575.825M. This represents a decrease in both earnings and sales from the previous year.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 11:03 am

PAG

Penske Automotive Group (NYSE:PAG) reported Q1 earnings of $3.21 per share, missing the $3.35 estimate, and sales of $7.45B, slightly below the $7.47B estimate. This represents a 25.52% decrease in earnings per share and a 1.49% increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 11:03 am

KO

Coca-Cola shares are trading lower, reversing earlier gains that followed the announcement of better-than-expected Q1 financial results.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 11:03 am

CNVS

DRCT

META

The article highlights the top 3 oversold tech and telecom stocks in the communication services sector, suggesting potential investment opportunities. Direct Digital Holdings, Inc. (DRCT), Meta Platforms, Inc. (META), and Cineverse Corp. (CNVS) are identified as major players with their RSI values indicating they are oversold. DRCT's stock fell due to Nasdaq non-compliance notification, META's stock dropped despite better-than-expected earnings, and CNVS's stock declined following a deal with Konami Cross Media.

Portfolio Pulse from Avi Kapoor

April 30, 2024 | 11:02 am

AMT

American Tower Corporation (AMT) forecasts its FY24 Adjusted Funds From Operations (AFFO) to be between $10.30 and $10.53.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 11:02 am

INCY

Incyte (NASDAQ:INCY) reported Q1 2024 adjusted EPS of $0.64, missing the $0.84 estimate, and sales of $880.889M, missing the $926.533M estimate. This represents a 72.97% increase in earnings and a significant sales increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 11:02 am

AEP

American Electric Power (AEP) reported Q1 2024 adjusted EPS of $1.27, surpassing the $1.26 estimate, marking a 15.45% increase from last year. However, their sales of $5.000B fell short of the $5.021B estimate, despite being a 6.38% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 11:02 am

ADM

Archer-Daniels Midland (ADM) reported Q1 2024 earnings of $1.46 per share, surpassing the $1.36 estimate, but its sales of $21.85B fell short of the $22.27B estimate, marking a 9.24% decrease from the previous year.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 11:02 am

AMT

American Tower (NYSE:AMT) reported Q1 2024 earnings of $2.79 per share, surpassing the consensus estimate of $2.54 by 9.84%. Quarterly sales reached $2.834 billion, exceeding expectations by 1.39% and marking a 2.42% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 11:01 am