Streetbeat News

Earnings

TNET

TriNet Group's shares dropped following the announcement of disappointing Q1 results and weaker future guidance than anticipated.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 1:04 pm

TMP

Tompkins Financial Corporation (TMP) reported Q1 earnings of $1.18 per share, surpassing the consensus estimate of $1.15 by 2.61%. However, this represents a 12.59% decrease from the $1.35 per share earned in the same quarter last year.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 1:04 pm

GOOG

GOOGL

META

MSFT

Alphabet Inc. (GOOG, GOOGL) saw its stock surge over 10% after announcing its Q1 earnings, which exceeded expectations with an EPS of $1.89 and revenue of $80.54 billion. The earnings beat, combined with the announcement of a $70 billion buyback program and the company's first-ever dividend, fueled investor enthusiasm. Comparisons were drawn to Meta Platforms Inc. (META), which also announced its first dividend in the previous quarter. Alphabet's strong performance in various tech sectors, including Google Cloud and YouTube advertising, was highlighted.

Portfolio Pulse from Surbhi Jain

April 26, 2024 | 1:02 pm

GCT

GEV

MOV

SMR

Jim Cramer discussed several stocks on CNBC's 'Mad Money Lightning Round,' cautioning against GigaCloud Technology due to insufficient information, critiquing Movado Group for overpriced offerings despite a yield, and recommending GE Vernova over NuScale Power for safety. GigaCloud reported strong Q4 FY 2023 earnings with a 94.8% revenue increase, while Movado also exceeded Q4 expectations with higher earnings and revenue. NuScale Power is anticipated to report a Q1 loss, with Cramer favoring GE Vernova for investors.

Portfolio Pulse from Avi Kapoor

April 26, 2024 | 1:02 pm

MTTR

Matterport, Inc. (NASDAQ:MTTR) has canceled its Q1 2024 earnings call and will not provide financial guidance due to its acquisition by CoStar Group, Inc. The company will still release its Q1 earnings report and supplemental information on its website.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 1:01 pm

XOM

Exxon Mobil Corporation (NYSE:XOM) reported Q1 FY24 earnings with revenues of $83.083 billion, surpassing expectations but saw a decrease in adjusted net profit to $8.22 billion from $11.62 billion a year ago, attributed to lower refining margins and natural gas prices. Adjusted EPS was $2.06, missing the consensus of $2.20. The company declared a Q2 dividend of $0.95 per share and announced a final investment decision for the Whiptail development offshore Guyana. XOM shares dropped 1.82% in premarket trading.

Portfolio Pulse from Lekha Gupta

April 26, 2024 | 12:58 pm

BEEP

NCPL

VIVK

Insiders at Netcapital, Vivakor, and Mobile Infrastructure have recently made significant stock purchases, signaling confidence in their companies' prospects. Netcapital's director bought shares despite a recent quarterly loss. Vivakor's CEO acquired shares following a definitive agreement to acquire Endeavor Entities, indicating growth in the oil and gas sector. Mobile Infrastructure's CEO also purchased shares ahead of its Q1 2024 earnings release, suggesting optimism about the company's future performance.

Portfolio Pulse from Avi Kapoor

April 26, 2024 | 12:54 pm

BYD

Boyd Gaming Corporation (NYSE:BYD) reported Q1 earnings below expectations with adjusted earnings of $1.51 per share against estimates of $1.57. Sales slightly exceeded expectations at $960.521 million. The company faced challenges due to severe winter weather and increased competition in Las Vegas. Despite this, Boyd Gaming maintains strong operating margins and continues shareholder returns. Shares fell 1.1% following the earnings announcement. JP Morgan and Deutsche Bank lowered their price targets and downgraded the stock.

Portfolio Pulse from Avi Kapoor

April 26, 2024 | 12:54 pm

RMD

ResMed (NYSE:RMD) exceeded third-quarter financial expectations with adjusted earnings of $2.13 per share against forecasts of $1.91 and sales of $1.200 billion versus $1.167 billion expected. Gross margin and non-GAAP gross margin also saw significant increases. CEO Mick Farrell highlighted strong demand for ResMed's products and software solutions, contributing to double-digit growth in operating profit and earnings per share. Despite the positive results, ResMed shares slightly fell by 0.2% to close at $183.42. Analysts from Needham and Keybanc raised their price targets for ResMed following the earnings announcement.

Portfolio Pulse from Avi Kapoor

April 26, 2024 | 12:47 pm

CL

Colgate-Palmolive (NYSE:CL) reported a 6.2% increase in Q1 FY24 sales to $5.065 billion, surpassing analyst expectations. Organic sales rose by 9.8%, with Oral, Personal, and Home Care net sales up 6.8% to $3.96 billion. Non-GAAP EPS of $0.86 exceeded estimates of $0.81. The company saw gross profit of $3.03 billion and an operating margin expansion to 20.7%. Colgate-Palmolive raised its FY24 net sales growth outlook to 2%-5% and organic sales growth to 5%-7%, maintaining expectations for gross profit margin expansion and mid to high-single-digit EPS growth. Shares increased by 0.85% to $90.05 in premarket trading.

Portfolio Pulse from Shivani Kumaresan

April 26, 2024 | 12:44 pm