Streetbeat News

Earnings

LSCC

Lattice Semiconductor's stock is trading higher in anticipation of its Q1 earnings report today.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 6:53 pm

META

SNAP

TikTok's parent company, ByteDance, opts to fight a potential U.S. ban in court rather than sell its assets, as mandated by a new bill signed by President Biden. The bill, which received bipartisan support, could force ByteDance to sell TikTok's U.S. operations within 9-12 months to avoid a ban. This situation benefits competitors like Meta Platforms Inc (META) and Snap Inc (SNAP), with Meta recently losing value due to poor quarterly results, while Snap's shares surged after a positive earnings report. TikTok CEO Shou Chew emphasizes the fight for freedom of expression and plans to challenge the ban's constitutionality, highlighting the national security versus First Amendment debate.

Portfolio Pulse from Natan Ponieman

April 29, 2024 | 6:40 pm

ADXN

ANVS

CAUD

CLVR

DCPH

PHG

U.S. stocks saw modest gains with the S&P 500, Nasdaq, and Dow all trading higher. ON Semiconductor reported better-than-expected Q1 results but projected Q2 revenues below consensus. Deciphera Pharmaceuticals surged after an acquisition announcement by ONO Pharmaceutical. Collective Audience and Koninklijke Philips also saw significant gains, while Clever Leaves, Addex Therapeutics, and Annovis Bio experienced sharp declines.

Portfolio Pulse from Avi Kapoor

April 29, 2024 | 6:34 pm

GOOGL

META

MSFT

SMCI

Super Micro Computer, Inc. (NASDAQ:SMCI) shares have risen over 20% in the past five days, buoyed by strong earnings from major tech firms like Microsoft, Alphabet, and Meta Platforms, indicating robust demand for AI. SMCI is anticipated to report Q3 earnings of $5.84 per share and revenue of $3.99 billion. The stock has an average 1-year price target of $961.13, with a mix of bullish and bearish analyst ratings.

Portfolio Pulse from Erica Kollmann

April 29, 2024 | 6:28 pm

SAIA

Saia shares are trading lower, likely due to ongoing weakness following the company's report of worse-than-expected Q1 financial results last week.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 6:26 pm

CVX

Chevron (NYSE:CVX) has seen unusual options activity, with a mix of bullish and bearish trades. Analysis of 21 trades shows a slight bullish bias. Major market movers are targeting a price range of $100.0 to $185.0 for Chevron over the last three months. The most significant options trades include both puts and calls, with varying sentiments and strike prices. Chevron's current market status shows a slight increase in stock price to $166.42, with potential overbought conditions. Earnings are expected in 88 days.

Portfolio Pulse from Benzinga Insights

April 29, 2024 | 6:16 pm

BIDU

IWM

TSLA

U.S. stocks opened positively, with major indices rising ahead of key events including tech earnings, a Federal Reserve meeting, and the April jobs report. Tesla surged 16% on a partnership with Baidu for its Full Self-Driving system in China. Small caps outperformed, and the iShares Russell 2000 ETF rose 0.9%. The Bank of Japan intervened to support the yen, causing a significant forex market movement. Natural gas prices jumped 7%, while Bitcoin saw a decline. Sector-wise, consumer discretionary and utilities stocks led gains.

Portfolio Pulse from Piero Cingari

April 29, 2024 | 6:14 pm

SLB

17 analysts have recently evaluated Schlumberger (NYSE:SLB), showing a mix of bullish to indifferent sentiments. The average 12-month price target is now $67.35, a slight decrease from the previous $68.10. Analyst actions include maintaining, raising, and lowering ratings and price targets, reflecting dynamic market conditions and Schlumberger's performance. Schlumberger, a leading oilfield service firm, has shown impressive financial health with a revenue growth rate of 12.55%, a net margin of 12.27%, and an ROE of 5.22%, outperforming industry averages.

Portfolio Pulse from Benzinga Insights

April 29, 2024 | 6:01 pm

DPZ

Domino's Pizza Inc (NYSE:DPZ) reported a strong start to FY24 with a 6% year-on-year sales growth to $1.085 billion, surpassing analyst expectations. EPS of $3.58 also beat estimates, attributed to better supply chain margin, lower interest expense, and lower income tax, despite investment losses in DPC Dash (Domino's China). U.S. same-store sales grew by 5.6%, with order count growth across all income cohorts. DPZ ended the quarter with 20,755 global locations, a 3.7% increase. Shares rose 4.39% to $521.00.

Portfolio Pulse from Shivani Kumaresan

April 29, 2024 | 5:57 pm

ANVS

Annovis Bio Inc (NASDAQ:ANVS) shares plummeted after releasing Phase 2/3 study data for buntanetap in Alzheimer's patients, showing no statistically significant difference in ADCS-CGIC scores and a large placebo effect in ADCS-ADL scores. However, improvements were observed in ADAS-Cog 11 scores, indicating a potential symptomatic effect with a disease-modification trend. The company plans to discuss the data with the FDA and proceed to a next Phase 3 study.

Portfolio Pulse from Vandana Singh

April 29, 2024 | 5:53 pm