Streetbeat News

Earnings

KNSL

Kinsale Capital Group's shares are trading lower despite the company reporting better-than-expected results for the first quarter.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 3:47 pm

CVX

During a recent conference call, it was announced that Chevron's production in Venezuela has increased to 180,000 barrels per day.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 3:32 pm

IGC

IGC Pharma announced interim results for its IGC-AD1 treatment, showing it clinically reduced Alzheimer's agitation compared to a placebo. These results were initially announced on March 20, 2024.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 3:27 pm

CVX

Chevron has reported better than expected production performance in the Permian Basin during the first half of the year, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 3:22 pm

GOOG

MSFT

Dan Ives of Wedbush praised the March 2024 quarter earnings of Microsoft Corp. (MSFT) and Alphabet Inc. (GOOG, GOOGL), highlighting the significant investment in AI technologies as a pivotal moment akin to the 'fourth industrial revolution'. Both companies exceeded analyst expectations, with Microsoft reporting a 17% revenue increase and Alphabet announcing its first-ever dividend after a 15% revenue growth. Ives compared this period to a '1995 moment' for AI, indicating a major industry shift.

Portfolio Pulse from Rounak Jain

April 26, 2024 | 3:17 pm

CVX

Chevron anticipates generating $4 billion in free cash flow from its Tengizchevroil (TCO) project in 2025 and $5 billion in 2026, highlighting the project's significant contribution to the company's financial performance.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 3:16 pm

F

HMC

Honda Motor Co Ltd (NYSE:HMC) is investing $11 billion in Ontario, Canada, for an EV value chain, including assembly and battery plants, following a $4.4 billion investment in a U.S. battery plant. This move contrasts with Ford Motor Co's reported losses of $36,000 to $65,000 per EV sold and GM's $1.7 billion loss in its EV business in 2023, while Tesla and Rivian also face challenges in profitability. Ford's CFO promises cost-cutting measures amid declining revenues and changing consumer preferences for cheaper EVs. Honda's project, starting production in 2028 with a 240,000 annual unit capacity, aims for an all-EV and fuel cell vehicle offering by 2040, expecting to create 1,000 jobs with government support.

Portfolio Pulse from Anthony Noto

April 26, 2024 | 3:14 pm

LYB

LyondellBasell announced during a conference call that it plans to operate its Houston refinery at 95% capacity in the second quarter of 2024.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 3:07 pm

AN

AutoNation Inc (NYSE:AN) shares surged 10.52% to $177.44 after reporting a 1% year-on-year sales growth to $6.48 billion in Q1 2024, slightly missing estimates. New vehicle sales increased by 7%, while used vehicle sales grew 2%. Despite a decline in segment income and a 7% drop in gross profit to $1.19 billion, EPS of $4.49 exceeded expectations. The company also announced a $1 billion additional stock repurchase authorization.

Portfolio Pulse from Shivani Kumaresan

April 26, 2024 | 3:06 pm

APO

PSCE

SLCA

XES

U.S. Silica Holdings, Inc. (SLCA) shares surged after announcing an acquisition deal by Apollo Global Management, Inc. (APO) affiliates for $1.85 billion, or $15.50 per share, a significant premium over its recent closing prices. The deal, expected to close in Q3 2024, will take SLCA private. Additionally, SLCA reported Q1 FY24 earnings with an EPS of $0.20 and sales of $325.9 million, missing sales consensus but meeting EPS expectations. The company saw a 17% Y/Y decline in total tons sold but noted a sequential increase in Oil & Gas segment volumes.

Portfolio Pulse from Lekha Gupta

April 26, 2024 | 3:05 pm