Streetbeat News

Earnings

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

FIX

Comfort Systems shares surged following the announcement of stronger-than-expected Q1 financial results and a hike in its quarterly dividend.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 12:38 pm

CLF

CMP

NUE

X

The article highlights the top 4 materials stocks considered oversold in Q2, based on their RSI values being near or below 30. United States Steel Corporation (X), Compass Minerals International, Inc. (CMP), Nucor Corporation (NUE), and Cleveland-Cliffs Inc. (CLF) are identified as major players in this sector with potential for short-term performance improvement. Each company's recent financial updates and stock price actions are discussed, providing insights into their current market positions and future expectations.

Portfolio Pulse from Avi Kapoor

April 26, 2024 | 12:38 pm

TYL

Tyler Technologies, Inc. (NYSE:TYL) exceeded first-quarter earnings and sales expectations and provided an optimistic forecast for FY24, leading to a 9.3% increase in its stock price. Following this, analysts from Oppenheimer, Baird, and Needham revised their price targets upwards, reflecting confidence in the company's future performance.

Portfolio Pulse from Avi Kapoor

April 26, 2024 | 12:37 pm

BHRB

Burke & Herbert Financial (NASDAQ:BHRB) reported a decrease in Q1 earnings to $0.69 per share, down from $1.00 YoY, and a sales decline to $26.39M from $28.99M YoY.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 12:37 pm

TS

Tenaris shares are trading lower despite the company reporting better-than-expected Q1 financial results.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 12:36 pm

GOOGL

META

MSFT

UUP

The Federal Reserve's preferred inflation measure, the PCE price index, rose to 2.7% year-on-year in March, exceeding expectations and signaling persistent inflationary pressures. This development dampens hopes for a near-term Fed rate cut, impacting market sentiment and the U.S. dollar index, as tracked by the Invesco DB USD Index Bullish Fund ETF (UUP). Meanwhile, futures on major U.S. averages were positively influenced by strong quarterly results from Alphabet Inc. (GOOGL) and Microsoft Corp. (MSFT), despite negative sentiment from Meta Platforms Inc. (META)'s weak guidance.

Portfolio Pulse from Piero Cingari

April 26, 2024 | 12:36 pm

ACMR

ACM Research shares are trading lower following the announcement of Q1 preliminary unaudited revenue and shipments.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 12:26 pm

ALV

Autoliv shares experienced an increase in trading following a report of earnings that exceeded expectations for the first quarter.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 12:26 pm