Streetbeat News

Earnings

ALGN

Align Technology's shares saw an increase following the announcement of their Q1 financial results, which surpassed expectations.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 8:04 pm

RCUS

Arcus Biosciences will present new data from Phase 2 studies of immuno-oncology combinations at the 2024 ASCO Annual Meeting. This includes updates on treatments for upper GI cancers, metastatic colorectal cancer, and non-small cell lung cancer, showcasing the potential of their novel drug combinations.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 8:02 pm

ALGN

Align Technology (ALGN) reported Q1 2024 adjusted EPS of $2.14, surpassing the $1.97 estimate, with sales of $997.40M exceeding the $974.41M forecast. This represents a 5.75% increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 8:02 pm

SAIA

Saia shares are trading lower due to sector-wide weakness in trucking and freight, triggered by disappointing earnings reports within the industry.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 7:54 pm

IEX

IDEX shares are trading lower following the release of their Q1 earnings, indicating a negative market reaction to the financial results.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 7:52 pm

RCI

Rogers Communications' stock is trading lower after the company reported its first-quarter earnings.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 7:52 pm

NFLX

Netflix shares are experiencing a decline due to ongoing volatility following their recent earnings report.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 7:52 pm

SYF

Synchrony Financial's stock is trading higher after the company reported its Q1 earnings and announced a $1 billion share repurchase authorization.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 7:50 pm

OND

SOCL

SPOT

Spotify Technology SA reported Q1 2024 revenue of $3.95 billion, up 20% YOY, surpassing consensus estimates. EPS was $1.05, beating the $0.70 consensus. Analysts from J.P. Morgan, Piper Sandler, and Goldman Sachs provided positive outlooks, with J.P. Morgan raising its price target to $365. Spotify's gross margin strength, podcast improvements, and advertising gains were highlighted. The company remains confident in achieving its medium-term financial targets. Analysts expect continued revenue growth and profitability increases. Spotify stock is part of the Global X Social Media ETF and ProShares On-Demand ETF.

Portfolio Pulse from Anusuya Lahiri

April 24, 2024 | 7:34 pm

LMT

Lockheed Martin Corp (NYSE:LMT) reported Q1 earnings and revenues that exceeded expectations, with earnings per share at $6.33 against a consensus of $5.82 and revenues up by 7%. Despite the beat, concerns over margins persist, particularly due to a loss on a classified missile program and potential pressure from Pentagon's risk-sharing initiatives. Goldman Sachs maintains a Sell rating but slightly raised the price target from $377 to $378. Truist Securities highlighted a 5% year-on-year normalized revenue growth and reaffirmed 2024 guidance, noting potential for upside but expecting a deceleration in growth. LMT shares slightly declined by 0.0065% to $460.05.

Portfolio Pulse from Priya Nigam

April 24, 2024 | 6:53 pm