Streetbeat News

Earnings

SNAP

Snap, Inc. (NASDAQ:SNAP) shares surged over 30% in the past five days following better-than-expected Q1 results, with daily active users growing to over 422 million. Analysts from Truist Securities, Goldman Sachs, RBC Capital, Barclays, and Wells Fargo raised their price targets on SNAP stock. The stock's RSI of 89.64 indicates overbought conditions.

Portfolio Pulse from Erica Kollmann

April 29, 2024 | 5:10 pm

CTEX

TAN

Daqo New Energy Corp. (NYSE:DQ) shares fell after missing Q1 FY24 EPS and sales estimates, with revenue and gross profit significantly lower than the previous year. Despite higher production volume, the company's polysilicon average selling price and margins declined. Daqo Energy maintains its production forecast for FY24 and plans to start pilot production at its new facility in Q2 2024. The stock's movement can impact investors in Invesco Solar ETF (NYSE:TAN) and ProShares S&P Kensho Cleantech ETF (NYSE:CTEX).

Portfolio Pulse from Lekha Gupta

April 29, 2024 | 5:08 pm

ADXN

ANVS

CLVR

DCPH

Clever Leaves Holdings Inc. announced its decision to voluntarily delist from Nasdaq, causing a 60% drop in its shares. Other stocks moved significantly in Monday's session, with Deciphera Pharmaceuticals surging 73% after an acquisition announcement, and various companies like Collective Audience and ImmunityBio also seeing substantial gains. Losers included Annovis Bio, down 57% after disappointing trial results, and Addex Therapeutics, falling 48.8% due to a failed epilepsy study.

Portfolio Pulse from Avi Kapoor

April 29, 2024 | 5:04 pm

CSLR

Complete Solaria, Inc. (NASDAQ:CSLR) announced T.J. Rodgers as the new CEO, succeeding Chris Lundell. Rodgers plans to leverage his experience in fundraising and M&A to guide the company through its financial challenges, including a significant reduction in quarterly operating expenses and addressing quality issues. The company faces pressure from its private equity debt holders, particularly Carlyle, which Rodgers criticizes for their detrimental financial tactics. Complete Solaria also promoted Brian Wuebbels to COO. Rodgers aims to convert debt to equity to alleviate financial strain and criticizes Carlyle's approach to business and its impact on companies and communities.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 4:48 pm

CCJ

EQT

FLNC

NEE

VRT

Goldman Sachs forecasts a significant increase in U.S. power demand due to AI data centers, projecting a 15% CAGR from 2023-2030. This growth is expected to raise data centers' power demand to 8% of total U.S. demand by 2030. Approximately 47 GW of additional power generation capacity will be needed, with an estimated $50 billion in capital investment. Goldman Sachs has identified 16 stocks across various sectors as beneficiaries of this trend, including utilities, clean technology, and industrial tech.

Portfolio Pulse from Piero Cingari

April 29, 2024 | 4:37 pm

GOOG

GOOGL

Alphabet Inc's (NASDAQ:GOOGL) (NASDAQ:GOOG) shares dropped 2.7% to $167.28 after a surge last week due to strong earnings. The company reported a 15% increase in first-quarter revenue to $80.539 billion, beating expectations, and earnings of $1.89 per share, surpassing analyst predictions.

Portfolio Pulse from Henry Khederian

April 29, 2024 | 4:32 pm

FTEL

MULN

SDA

TSLA

In Monday's intraday session, several consumer discretionary stocks experienced significant movements. Mullen Automotive (MULN) led the gainers with a 36.7% increase, while Fitell (FTEL) headed the losers, dropping 17%. Notably, Tesla (TSLA) saw a 17.77% rise following its Q1 earnings release four days ago, and SunCar Tech Gr (SDA) also gained 15.59% after its FY earnings report.

Portfolio Pulse from Benzinga Insights

April 29, 2024 | 4:31 pm

AEYE

BTOG

MTC

In Monday's intraday session, several Information Technology stocks experienced significant movements. Notable gainers included Bit Origin, MMTEC, Focus Universal, AudioEye, Meta Materials, and Inseego, with increases ranging from 14.39% to 30.7%. On the downside, iLearningEngines, Mobix Labs, Bridgeline Digital, Gryphon Digital Mining, Brand Engagement Network, and Daqo New Energy saw declines between 8.53% and 13.6%. AudioEye and Daqo New Energy released their Q1 earnings, influencing their stock movements.

Portfolio Pulse from Benzinga Insights

April 29, 2024 | 4:31 pm

AMD

NVDA

AMD is set to report Q1 earnings with expectations of 61 cents EPS and $5.5 billion in revenues. Despite a year of significant growth, driven by AI applications, AMD's stock shows a bearish trend in technical analysis but hints at a potential reversal. Challenges in the PC market and competition from Nvidia may impact performance, but AMD's focus on AI and technological innovations like the MI300 AI accelerator and Zen 4 architecture could fuel future growth. The upcoming earnings report could be pivotal for AMD's stock direction.

Portfolio Pulse from Surbhi Jain

April 29, 2024 | 4:09 pm

AMZN

Amazon.com Inc (NASDAQ:AMZN) is expected to report Q1 revenue of $142.47 billion, an improvement from last year's $127.36 billion, and earnings per share of 83 cents, up from 35 cents. Analysts anticipate strong sales and profit growth, highlighting the strength of online spending and faster fulfillment. Key factors include AWS segment performance, high-margin categories like advertising, and sports media rights, including NBA and WNBA deals. Analyst ratings are positive, with price targets ranging from $200 to $235.

Portfolio Pulse from Chris Katje

April 29, 2024 | 4:05 pm