Streetbeat News

Earnings

BAMG

BUL

FTV

Fortive Corporation (NYSE:FTV) shares dropped after reporting Q1 FY24 results with a slight revenue miss but improved EPS. The company adjusted its FY24 revenue forecast downwards while raising its EPS outlook. Dividends were declared, and exposure to FTV can be gained through BAMG and BUL ETFs.

Portfolio Pulse from Lekha Gupta

April 24, 2024 | 4:19 pm

BIIB

Biogen Inc (NASDAQ:BIIB) reported Q1 adjusted EPS of $3.67, beating consensus but with a 7% year-over-year sales decline to $2.29 billion, missing expectations. Multiple sclerosis and rare disease revenues fell, while Leqembi (Alzheimer's drug) sales showed significant growth. The company reaffirmed its fiscal 2024 EPS guidance and expects a low to mid-single-digit percentage decline in total revenue. Shares rose 4.47% following the report.

Portfolio Pulse from Vandana Singh

April 24, 2024 | 4:12 pm

EH

EHang Holdings Ltd. (NASDAQ:EH) plans to raise up to $100 million through a public offering of its ADS, aiming to fund the mass production of its self-flying aircraft. This move comes as the company progresses towards commercialization, having received necessary regulatory certificates in China. Despite facing a short-selling attack by Hindenburg Research, EHang's revenue surged 165% last year, and it is projected to significantly grow in the coming years, with profitability expected by 2025.

Portfolio Pulse from The Bamboo Works

April 24, 2024 | 4:08 pm

OC

Owens Corning Inc (NYSE:OC) reported a slight decline in Q1 fiscal 2024 net sales to $2.3 billion, narrowly beating consensus estimates. Despite a sales drop, the company saw a significant increase in adjusted EPS to $3.59 from $2.80 a year ago, surpassing expectations. Adjusted EBIT and EBITDA also rose, with margins expanding significantly. The company highlighted its margin expansion and enhanced product lineup as key drivers of its performance. Owens Corning also reported positive operating cash flow, continued share repurchases, and dividend payments. Looking ahead, it expects Q2 net sales to align with the previous year and maintains a focus on innovation with 13 new or enhanced products introduced.

Portfolio Pulse from Akanksha Bakshi

April 24, 2024 | 4:06 pm

PEP

PepsiCo shares are trading higher, reversing a previous fall that occurred on Tuesday following the announcement of Q1 earnings.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 4:04 pm

OTIS

Otis Worldwide Corp (NYSE:OTIS) reported a 2.7% Y/Y sales growth for Q1 fiscal 2024, missing consensus estimates. Adjusted operating profit and EPS exceeded previous figures, with notable performance in service sales and maintenance portfolio units. Despite this, OTIS shares fell by 4.47%. The company raised its EPS outlook and quarterly dividend by 14.7%, planning to increase its share repurchase target to $1 billion.

Portfolio Pulse from Akanksha Bakshi

April 24, 2024 | 4:03 pm

MAT

Eight analysts provided mixed ratings for Mattel (NASDAQ:MAT), with an unchanged average 12-month price target of $23.00. The ratings reflect a blend of bullish and bearish sentiments, with recent actions including both raised and maintained price targets. Mattel's financial performance is strong, with significant revenue growth, high net margin, and ROE, although its debt-to-equity ratio indicates a higher level of debt. The company's market position is solid, with substantial market capitalization and a diverse product portfolio.

Portfolio Pulse from Benzinga Insights

April 24, 2024 | 4:01 pm

SMBK

In the latest quarter, 4 analysts provided mixed ratings for SmartFinancial (NYSE:SMBK), with 3 somewhat bullish and 1 indifferent. The 12-month price targets set by analysts average at $25.5, with a high of $26.00 and a low of $24.00. Analyst actions included maintaining, raising, and lowering ratings, reflecting dynamic market conditions and company performance. SmartFinancial's financials show challenges, including a -12.61% revenue decline and below-industry benchmarks in net margin, ROE, and ROA.

Portfolio Pulse from Benzinga Insights

April 24, 2024 | 4:01 pm

AMST

ATXI

BOF

EDU

EVO

RBBN

U.S. stocks showed mixed performance with the Dow Jones falling over 100 points, while the NASDAQ rose slightly. Consumer discretionary shares led gains, while industrials fell. Ribbon Communications, BranchOut Food, and Amesite saw significant stock price increases following positive news, whereas Evotec, Avenue Therapeutics, and New Oriental Education & Technology experienced declines. Crude oil inventories dropped more than expected, impacting commodity markets.

Portfolio Pulse from Avi Kapoor

April 24, 2024 | 4:00 pm

GT

MGDDY

Michelin has announced that it still expects its full-year adjusted free cash flow to be above €1.5 billion, according to Bloomberg.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 3:54 pm