Streetbeat News

Earnings

CCL

Recent options trading activity for Carnival (NYSE:CCL) shows a bearish sentiment among investors, with 70% of trades being bearish and 30% bullish. The trading volume and open interest suggest a target price range of $13.0 to $20.0. Despite this, professional analysts have set an average price target of $24.4, with ratings ranging from Buy to Overweight. Carnival's current market status shows a slight decrease in stock price to $15.04, with neutral RSI indicators and earnings expected in 59 days.

Portfolio Pulse from Benzinga Insights

April 26, 2024 | 7:31 pm

IBRX

ImmunityBio, Inc. (NASDAQ:IBRX) shares surged after announcing positive overall survival results in its QUILT 3.055 study for NSCLC patients. The trial showed median overall survival nearly double that of standard chemotherapy. Additionally, the FDA approved ImmunityBio's Anktiva plus BCG for NMIBC. Trading volume spiked, with over 26.6 million shares traded compared to the 100-day average of 4.774 million.

Portfolio Pulse from Erica Kollmann

April 26, 2024 | 7:26 pm

PYPL

PayPal shares are trading higher due to overall market strength, with anticipation building for its Q1 earnings report next week.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 7:23 pm

NEM

Recent analyst ratings for Newmont (NYSE:NEM) show a mix of perspectives, with a total of 5 analysts offering their views. The ratings range from bullish to indifferent, with no bearish outlooks. Over the last 30 days, there has been a shift towards a more cautious stance compared to previous months. Analysts have adjusted their 12-month price targets for Newmont, resulting in an average target of $46.5, down 8.82% from the previous average. Notable actions include adjustments by analysts from TD Securities, Citigroup, Scotiabank, BMO Capital, and RBC Capital, with changes in ratings and price targets reflecting varying expectations for the company's performance. Newmont, the world's largest gold miner, has recently acquired Newcrest and is expected to sell some higher cost mines. Despite a positive revenue trend, Newmont faces challenges with its net margin, ROE, ROA, and a high debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

April 26, 2024 | 7:01 pm

CHDN

Nine analysts have recently evaluated Churchill Downs (NASDAQ:CHDN), showing a bullish trend with an average 12-month price target of $145.67, up from $143.40. The company's financial performance indicates strong market confidence, with a notable revenue growth rate of 5.61% and a high net margin of 13.61%. However, its debt-to-equity ratio of 5.96 suggests financial risk. Analysts' ratings and price target adjustments reflect optimism about the company's future performance.

Portfolio Pulse from Benzinga Insights

April 26, 2024 | 7:00 pm

BUD

SAM

TAP

TLRY

Boston Beer Co (NYSE:SAM) reported Q1 financial results surpassing analyst expectations with net revenue of $426.1 million, a 3.1% increase over estimates, and EPS of $1.04, significantly above the 9 cents estimate. The company's success is partly attributed to a backlash against Anheuser-Busch Inbev (NYSE:BUD) by conservative beer drinkers. Despite concerns of THC cannibalizing alcohol sales, both Boston Beer and Tilray Brands Inc. (NASDAQ:TLRY) have seen growth in their alcohol segments, with Tilray's alcohol revenue jumping 117% to $47 million. Boston Beer continues to explore the cannabis beverage market with products like Teapot, Canada's premier cannabis tea brand, while other beer giants like Molson Coors Beverages Co. (NYSE:TAP) have exited cannabis ventures.

Portfolio Pulse from Anthony Noto

April 26, 2024 | 6:58 pm

BDRX

ICLK

MSFT

NUWE

SAIA

SNAP

ULH

U.S. stocks saw gains with the Dow Jones rising over 200 points, led by Microsoft's positive earnings report. Microsoft's shares increased by more than 2% after reporting a 17% year-over-year revenue increase to $61.9 billion, surpassing estimates. Other notable movements included Biodexa Pharmaceuticals surging 78% due to an exclusive license agreement, Snap Inc. rising 26% on strong financial results, and Universal Logistics Holdings gaining 37% after exceeding quarterly expectations. Conversely, iClick Interactive, Nuwellis, and Saia saw significant drops due to various negative announcements.

Portfolio Pulse from Avi Kapoor

April 26, 2024 | 6:50 pm

MOG/A

Moog Inc. shares surged following the announcement of its Q2 financial results, which exceeded expectations. Additionally, the company has uplifted its FY24 guidance above the initial estimates, signaling a positive outlook for its future performance.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 6:38 pm

MBLY

NVDA

QCOM

Mobileye Global Inc (NASDAQ:MBLY) reported a significant 48% year-on-year revenue decline for Q1, attributed to stiff competition and a surprising downturn in EV adoption. Analyst Adam Jonas from Morgan Stanley downgraded Mobileye's rating from Equal-Weight to Underweight and lowered the price target from $26 to $25, citing limited near-term growth potential for its SuperVision product due to reduced EV adoption and increased competition from companies like Nvidia Corp (NASDAQ:NVDA), Qualcomm Inc (NASDAQ:QCOM), and others exploring ADAS technologies.

Portfolio Pulse from Priya Nigam

April 26, 2024 | 6:36 pm

ALPN

VRTX

Vertex Pharmaceuticals Inc (VRTX) has seen significant success with its cystic fibrosis drug Trikafta, generating $26 billion in revenues since 2019 and expected to reach $10 billion in annual sales next year. The company is now focusing on developing non-opioid painkillers, with VX-548 in late-stage trials and potential FDA approval this year. Vertex also acquired Alpine Immune Sciences Inc (ALPN) for $4.9 billion to develop treatments for autoimmune kidney disease. Analysts predict Vertex's new pain medication could bring in $2.3 billion in annual sales by 2030.

Portfolio Pulse from Vandana Singh

April 26, 2024 | 6:34 pm