Streetbeat News

Earnings

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U.S. stocks traded higher with the Dow Jones gaining over 100 points. Domino's Pizza Inc reported better-than-expected Q1 earnings with a 6% sales growth and EPS of $3.58, surpassing estimates. Deciphera Pharmaceuticals announced its acquisition by ONO Pharmaceutical, and Koninklijke Philips N.V. reported a $1.1 billion settlement and better than expected earnings. Clever Leaves Holdings announced plans to delist from Nasdaq, and Addex Therapeutics' epilepsy study failed to meet its primary endpoint.

Portfolio Pulse from Avi Kapoor

April 29, 2024 | 1:42 pm

JKS

JinkoSolar Holding Co Ltd (NYSE:JKS) reported Q1 fiscal 2024 results with a slight revenue miss but a strong outlook, leading to a share price rally. Revenue fell 1.2% Y/Y to $3.19 billion, below the $3.25 billion consensus. However, shipments surged 51.2% Y/Y to 21,907 MW. Gross margin decreased to 11.9% from 17.3% Y/Y, and the company reported a loss from operations. Despite this, adjusted net income was reported, and the company is optimistic about future demand, especially for N-type technology, with plans to limit capacity expansion to focus on advanced N-type capacity.

Portfolio Pulse from Akanksha Bakshi

April 29, 2024 | 1:32 pm

IBN

ICICI Bank's stock is trading higher after the company reported its fourth-quarter earnings.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 1:31 pm

CCB

Coastal Financial Corp. (CCB) reported Q1 2024 adjusted earnings per share (EPS) of $0.50, missing the consensus analyst estimate of $0.76 by 34.21%.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 1:29 pm

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AstraZeneca reported positive results from a metastatic breast cancer treatment study for Enhertu, showing significant improvement in progression-free survival. Additionally, AstraZeneca's Truqap, in combination with Faslodex, is recommended for approval in the EU for certain breast cancer patients. Daiichi Sankyo, co-developer of Enhertu, also plays a role in these developments.

Portfolio Pulse from Vandana Singh

April 29, 2024 | 1:26 pm

CHTR

Charter Communications Inc (NASDAQ:CHTR) reported Q1 2024 earnings with revenue of $13.68 billion and EPS of $7.55, both missing consensus estimates. The company saw a decline in residential Internet and video customers, leading to a 1.7% drop in stock price. B of A Securities and Rosenblatt adjusted their price targets on CHTR following the earnings announcement.

Portfolio Pulse from Avi Kapoor

April 29, 2024 | 1:25 pm

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Ellendale Facility is operating at approximately 80 MW and is accelerating the restoration of capacity at its Ellendale Data Center Hosting Facility. The company expects to continue ramping up capacity ahead of schedule, as detailed in its earnings release filed on April 11, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 1:20 pm

SOFI

SoFi shares are trading lower, reversing after initially gaining on Q1 earnings.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 1:17 pm

BALL

Ball Corporation (NYSE:BALL) exceeded first-quarter earnings expectations with an adjusted EPS of 68 cents, surpassing the forecast of 56 cents. However, its quarterly sales of $2.87 billion fell short of the $3.24 billion estimate. Following the earnings beat, Ball's shares rose by 6.7% to close at $69.80. Analysts from Baird and Mizuho revised their price targets upwards, with Baird setting a new target of $70 and Mizuho at $69, both maintaining a Neutral rating.

Portfolio Pulse from Avi Kapoor

April 29, 2024 | 1:16 pm

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Assure Holdings announced that its unaudited financial statements for the quarterly periods ended March 31, June 30, and September 30, 2023, should not be relied upon, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 1:14 pm