Streetbeat News

Earnings

MSFT

Wedbush analyst Dan Ives praised Microsoft Corp. (NASDAQ:MSFT) for its performance in AI and cloud computing, following its Q3 earnings beat. Ives highlighted CEO Satya Nadella's leadership and the growth of Azure in AI, referring to the current period as a '1995 Moment' for the industry. He reiterated a $500 price target for Microsoft, noting the stock's premarket rise of 4.25% to $416. Microsoft's Q3 revenue was $61.9 billion, a 17% increase year-over-year, with earnings of $2.94 per share.

Portfolio Pulse from Rounak Jain

April 26, 2024 | 9:21 am

POR

Portland General Electric (POR) reaffirms its 2024 earnings guidance, projecting adjusted EPS of $2.98-$3.18, aligning with a $3.07 consensus. The forecast is based on assumptions including weather-adjusted energy delivery increases, normal hydro and wind generation conditions, and operational expenses. The company also anticipates $700M-$800M in cash from operations.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 9:08 am

POR

Portland Gen Electric (NYSE:POR) reported Q1 2024 adjusted EPS of $1.21, surpassing the $1.09 estimate, and sales of $940M, exceeding the $828.972M estimate. This represents a 51.25% increase in earnings and a 26.17% increase in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 9:03 am

TTE

TotalEnergies (NYSE:TTE) reported Q1 2024 adjusted EPS of $2.14, surpassing the $2.06 estimate, with sales of $56.278B, a decrease from $62.603B YoY.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 9:03 am

PSO

Pearson announced a Q1 underlying sales growth of 3%, excluding OPM and Strategic Review. The company is on track to meet its 2024 guidance, with expected momentum in the second half of the year. Pearson is making strong operational progress across all divisions, continuing to integrate AI into its products, and has completed an initial £300m share buyback with a £200m extension underway.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 8:59 am

HTZ

Hertz Global Holdings (NASDAQ:HTZ) plans to remove 30,000 electric vehicles from its fleet, up from an earlier plan of 20,000, due to high repair costs. This adjustment aims to align the fleet with demand, especially for rideshare, and reduce operating costs. Hertz reported a Q1 adjusted loss of $1.28 per share, significantly missing analyst expectations. Following the announcement, HTZ stock dropped 19.3%, contributing to a 54.1% decline year-to-date.

Portfolio Pulse from Anan Ashraf

April 26, 2024 | 8:46 am

TSLA

Tesla, Inc. (NASDAQ:TSLA) shares rose for the third consecutive session after its quarterly results, with a 17.6% surge attributed to an optimistic product outlook and plans for more affordable models by mid-2025. Gary Black of Future Fund highlighted the expansion of Tesla's total addressable market but noted skepticism among investors regarding Tesla's robotaxi plans. Despite the stock rally, concerns about Tesla's core auto gross margin and cash flow persist, with analysts offering cautious outlooks.

Portfolio Pulse from Shanthi Rexaline

April 26, 2024 | 8:38 am

CMG

Jim Cramer praised Chipotle Mexican Grill Inc. (NYSE:CMG) for its successful 'self-help' strategy, which has allowed the company to thrive despite economic slowdowns. Cramer highlighted Chipotle's ability to improve service speed and expand operations, leading to a surge in sales and foot traffic. The company's recent quarterly earnings exceeded Wall Street's expectations, with a 14.1% increase in revenue and a 7% increase in comparable restaurant sales year-over-year. Chipotle's stock price rose by more than 6% following the earnings release.

Portfolio Pulse from Benzinga Neuro

April 26, 2024 | 8:15 am

OVBC

Ohio Valley Banc (NASDAQ:OVBC) reported a decrease in Q1 earnings to $0.58 per share, down from $0.82 YoY, with sales falling to $14.89M from $15.49M YoY.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 7:46 am

HTBK

Heritage Commerce (NASDAQ:HTBK) reported Q1 2024 earnings of $0.17 per share, missing the consensus estimate of $0.18, a 45.16% decrease from last year. Sales were $42.140M, missing the estimate of $42.284M, a 19% decrease from the previous year.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 7:00 am