Streetbeat News

Earnings

ABBV

LABP

AbbVie Inc (NYSE:ABBV) reported a Q1 adjusted EPS of $2.31, surpassing consensus estimates and raising its 2024 adjusted EPS guidance. Despite a decline in Humira sales due to biosimilar competition, growth was driven by strong performances in its ex-Humira portfolio, including Skyrizi and Rinvoq. AbbVie also completed the acquisition of Landos Biopharma Inc (NASDAQ:LABP) for approximately $137.5 million. Shares of ABBV fell 3.41% to $161.58.

Portfolio Pulse from Vandana Singh

April 26, 2024 | 1:54 pm

IMO

Imperial Oil reported Q1 2024 earnings of $1.65 per share, missing the $2.04 estimate, with sales of $9.113B also missing the $17.172B estimate. This represents a slight increase of 1.64% in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 1:52 pm

AAPL

META

Meta Platforms Inc (NASDAQ:META) exceeded Wall Street's Q1 expectations with a 27% YoY revenue increase to $36.46 billion and net income more than doubling to $12.37 billion. Despite this, META's stock dropped 16% due to lower-than-expected revenue guidance. CEO Mark Zuckerberg highlighted Meta's AI development plans, indicating a strategic shift towards AI agents. The company's digital advertising, making up 98% of its revenue, grew by 27% YoY. However, its Reality Labs unit reported a $3.85 billion loss. Meta's Q2 revenue guidance is below analyst expectations, but increased capital expenditures suggest a focus on AI investments. Despite challenges, including a feud with Apple over privacy changes, Meta aims to leverage AI for long-term growth.

Portfolio Pulse from Upwallstreet

April 26, 2024 | 1:49 pm

SBUX

Investors have shown a bearish stance on Starbucks (NASDAQ:SBUX) through the options market, with a significant tilt towards puts over calls. Benzinga's options scanner revealed 25 trades, predominantly bearish, focusing on a price band between $85.0 and $90.0. The volume and open interest analysis for the last 30 days indicates a high level of activity in this price range. Starbucks, a global coffee chain, is currently trading at $87.64, with indicators suggesting it may be approaching oversold territory. The company is expected to release its next earnings in 4 days.

Portfolio Pulse from Benzinga Insights

April 26, 2024 | 1:46 pm

SKX

Skechers USA Inc (NYSE:SKX) shares surged after reporting better-than-expected Q1 FY24 earnings, with a 12.5% sales growth to $2.251 billion, surpassing estimates. The growth was driven by increases in both international and domestic sales, with significant marketing campaigns and an expanded product roster. Gross profit and operating income saw substantial rises, and the company has raised its FY24 sales and EPS outlook. Skechers also repurchased 1.0 million shares and ended the quarter with $946.4 million in cash.

Portfolio Pulse from Shivani Kumaresan

April 26, 2024 | 1:45 pm

ARKK

ARKW

ROKU

Roku, Inc. (NASDAQ:ROKU) shares fell on Friday, reversing gains from Thursday after reporting Q1 earnings. Gross profit rose 15% year-over-year to $388 million, but gross margin contracted. The company anticipates normal seasonal spend in H2, affecting Adjusted EBITDA. Roku reported a 14% increase in streaming households and a 23% increase in streaming hours year-over-year. The Roku Channel's streaming hours grew 66%. Q2 revenue is expected to exceed consensus estimates. Roku's cash reserves stand at $2.06 billion. ROKU stock is down 8.5% to $57.44. ARKK and ARKW ETFs offer exposure to ROKU.

Portfolio Pulse from Nabaparna Bhattacharya

April 26, 2024 | 1:38 pm

FMX

Fomento Economico (FMX) reported Q1 earnings of $1.40 per share, surpassing the $1.00 estimate, a 40% increase from last year. However, their sales of $10.50B fell short of the $10.71B estimate, despite being an 8.88% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 1:35 pm

PPIH

Perma-Pipe International Holdings (PPIH) reported a significant increase in Q4 earnings per share to $1.08, up 176.92% from $0.39 YoY. Sales also rose by 10.26% to $40.18M from $36.44M YoY.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 1:32 pm

KB

KB Financial Group (NYSE:KB) reported Q4 adjusted EPS of $1.94, missing analyst estimates of $2.78 by 30.22%, but marking a 203.12% increase from last year's $0.64. Sales were $2.37B, down 6.73% from $2.54B a year ago.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 1:28 pm

BHP

KLAU

NEM

RS

Reliance, Newmont, BHP, and Kaiser Aluminum reported their Q1 2024 financial results. Reliance saw a 10.3% increase in tons sold and raised its dividend by 10%. Newmont produced 2.2 million gold equivalent ounces and declared a 25 cents per share dividend. BHP proposed a £27 billion acquisition of Anglo American, aiming to become the world's top copper producer. Kaiser Aluminum reported net sales of $738 million and an adjusted EBITDA of $62 million, maintaining its full-year outlook.

Portfolio Pulse from austin@walkonholdings.com

April 26, 2024 | 1:27 pm