Streetbeat News

Earnings

OXY

Occidental Petroleum (NYSE:OXY) has seen a significant surge in options activity, indicating bullish sentiment among big-money investors. Benzinga's options scanner revealed 11 unusual trades, with a sentiment split of 63% bullish and 27% bearish. The trades suggest a target price range of $50.0 to $77.5 for OXY over the next three months. Analysts have varying views on OXY, with target prices ranging from $70 to $90. The company's stock is slightly down at $67.37, with next earnings expected in 13 days.

Portfolio Pulse from Benzinga Insights

April 24, 2024 | 6:01 pm

ADBE

Deep-pocketed investors have shown a bearish sentiment towards Adobe (NASDAQ:ADBE), with unusual options activity detected. Benzinga's options scanner revealed 13 extraordinary activities, with a bearish majority. The options trades span a price window from $430.0 to $630.0 for Adobe, indicating significant market movements may be anticipated. The trading volume for Adobe stands at 1,048,460, with a recent price increase of 1.1% to $478.09. An earnings announcement is expected in 50 days, and the RSI indicators suggest the stock may be approaching oversold conditions.

Portfolio Pulse from Benzinga Insights

April 24, 2024 | 6:01 pm

CSSE

ISUN

NCI

TDY

Teledyne Technologies shares fell by 9% after reporting disappointing Q1 financial results and cutting FY24 EPS guidance. Other stocks showed significant movement, with notable gainers including Chicken Soup for the Soul Entertainment and BranchOut Food, and losers like Neo-Concept International and iSun.

Portfolio Pulse from Avi Kapoor

April 24, 2024 | 5:57 pm

Canadian Pacific Kansas City Limited (NYSE:CP) reported a 55.3% year-over-year revenue growth for Q1 2024, reaching CA$3.52 billion but missing the consensus estimate of CA$3.54 billion. The operating ratio worsened to 67.4% from 63.4%, and adjusted EPS of CA$0.93 missed the consensus by CA$0.01. Despite these misses, operating income and net cash from operations saw significant increases. However, CP's stock fell by 5.75% to $82.68, possibly due to the missed revenue and EPS expectations and increased operating ratio.

Portfolio Pulse from Akanksha Bakshi

April 24, 2024 | 5:51 pm

SPY

TSLA

Tesla, Inc. (TSLA) experienced a significant post-earnings price increase, despite missing earnings estimates, illustrating the market's short-term speculative nature. A trader capitalized on this by placing a bullish options trade on TSLA, resulting in a 173% overnight profit. Additionally, the Portfolio Armor Substack's strategy of buying top names and using trailing stops has outperformed the SPDR S&P 500 Trust ETF (SPY) by 21.82% over various six-month periods.

Portfolio Pulse from David Pinsen

April 24, 2024 | 5:43 pm

IWM

SPY

TLT

TSLA

TXN

Treasury yields rise, impacting the iShares 20+ Year Treasury Bond ETF (TLT) negatively. Tesla Inc. (TSLA) shares jump 10% on the promise of cheaper models. The Japanese yen hits a 34-year low, affecting currency markets. The S&P 500 and Dow Jones see declines, while specific stocks and ETFs like the iShares Russell 2000 ETF (IWM) and SPDR S&P 500 ETF Trust (SPY) also fall. Texas Instruments Inc. (TXN) and other companies react to earnings reports, influencing their stock prices.

Portfolio Pulse from Piero Cingari

April 24, 2024 | 5:40 pm

TSLA

Despite missing Q1 analyst estimates, Tesla Inc (NASDAQ:TSLA) shares surged, attributed to sentiment change and Elon Musk's comments on AI and robotaxis. Jim Cramer believes TSLA could reach $175 today, despite a year-to-date decline of 36%.

Portfolio Pulse from Adam Eckert

April 24, 2024 | 5:36 pm

MAT

Mattel, Inc. (NASDAQ:MAT) shares rose after reporting Q1 adjusted earnings per share that exceeded expectations, despite sales missing estimates. The company's North America segment saw a slight increase in gross billings, driven by growth in certain categories. Full-year earnings guidance was provided, aligning closely with analyst expectations. Analysts from DA Davidson and Roth MKM have updated their ratings and price targets for Mattel.

Portfolio Pulse from Erica Kollmann

April 24, 2024 | 5:26 pm

FTXR

NSC

SUPP

Norfolk Southern Corporation (NYSE:NSC) reported disappointing first-quarter FY24 financial results, with a 4% decline in railway operating revenue to $3.004 billion, missing consensus estimates. Adjusted EPS fell by 25% Y/Y to $2.49, below expectations. The company also highlighted a $600 million settlement related to the East Palestine derailment class action lawsuit. Despite these challenges, Norfolk Southern declared a quarterly dividend of $1.35 per share. NSC shares dropped 4.4% to $234.23. Exposure to NSC can also be gained through TCW Transform Supply Chain ETF (BATS:SUPP) and First Trust Nasdaq Transportation ETF (NASDAQ:FTXR).

Portfolio Pulse from Lekha Gupta

April 24, 2024 | 5:13 pm

HCP

Analyst evaluations of HashiCorp (NASDAQ:HCP) over the last three months show diverse opinions, with recent updates indicating a positive shift in price targets, suggesting an optimistic outlook for the company. The average 12-month price target has been raised to $29.73, reflecting a 16.59% increase from the previous target. Analyst actions, including rating adjustments and price target changes, respond to HashiCorp's market dynamics and performance, with several analysts raising their price targets. Despite this, HashiCorp's financials reveal challenges in revenue growth, net margin, ROE, and ROA compared to industry averages, though it maintains a low debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

April 24, 2024 | 5:00 pm