Streetbeat News

Earnings

TSLA

Tesla Inc (NASDAQ:TSLA) reported Q1 revenue and earnings that missed consensus estimates, but analysts are optimistic about its future due to AI, FSD, and new products. Analysts have mixed ratings, with price targets ranging from $85 to $220. Key highlights include potential AI and FSD advancements, new product releases before 2025, and concerns over vehicle price cuts and demand. Tesla's focus on AI and potential for transformational technology are seen as positive, despite near-term challenges.

Portfolio Pulse from Chris Katje

April 24, 2024 | 4:51 pm

IYT

ODFL

SUPL

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) shares dropped after reporting a first-quarter FY24 revenue miss, with a slight increase in revenue not meeting expectations. The company saw a 1.2% year-over-year revenue increase to $1.460 billion, missing the consensus of $1.473 billion, attributed to a mix of a rise in LTL revenue per hundredweight and a decrease in LTL tons per day. Operating income slightly increased, and EPS was in line with consensus. The company also returned significant amounts to shareholders through repurchases and dividends. Exposure to ODFL can also be gained through IShares Trust IShares U.S. Transportation ETF (BATS:IYT) and ProShares Trust ProShares Supply Chain Logistics ETF (NYSE:SUPL).

Portfolio Pulse from Lekha Gupta

April 24, 2024 | 4:50 pm

BSX

Boston Scientific Corporation (NYSE:BSX) reported better-than-expected Q1 earnings, with revenues of $3.86 billion surpassing the consensus estimate of $3.69 billion. The company's cardiovascular segment led sales, contributing to a 13.8% year-over-year revenue increase. Adjusted EPS was $0.56, beating both consensus and management's guidance. Following these results, Boston Scientific raised its 2024 profit forecast, expecting net sales growth of 11%-13% and adjusted EPS of $2.29-$2.34. Shares soared 6.02% to $73.15.

Portfolio Pulse from Vandana Singh

April 24, 2024 | 4:42 pm

EQT

EQT shares are trading higher following the announcement of their Q1 financial results, which surpassed expectations.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 4:34 pm

FVD

RCI

TDIV

Rogers Communications Inc (NYSE:RCI) reported a 28% year-over-year revenue growth for Q1 2024, reaching $3.64 billion, surpassing the consensus of $3.58 billion. Adjusted EPS was $0.73, beating the consensus of $0.72. The growth was driven by increases in wireless and cable service revenues, with wireless service revenue up 9% and cable service revenue rising 94% due to the Shaw acquisition. However, media revenue decreased by 5%. The company also saw a 34% increase in adjusted EBITDA and a 58% increase in free cash flow. Rogers declared a quarterly dividend of 50 cents for its Class B Non-Voting and Class A Voting shares. Despite the positive earnings report, RCI shares dropped 3.7% to $38.12. Investors can also gain exposure to RCI through First Trust VL Dividend (NYSE:FVD) and First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV).

Portfolio Pulse from Anusuya Lahiri

April 24, 2024 | 4:32 pm

LII

Lennox shares are trading lower following the announcement of mixed Q1 financial results, indicating a disparity between expected and actual performance metrics.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 4:31 pm

BILI

CNVS

CSSE

DRCT

TZOO

WIMI

In Wednesday's intraday session, several Communication Services stocks experienced significant movements. Notably, Chicken Soup for the Soul (CSSE) surged by 140.2% following its Q4 earnings release three days ago. Other gainers included WiMi Hologram Cloud (WIMI) and Bilibili (BILI), with increases of 43.36% and 11.35%, respectively. On the downside, Cineverse (CNVS) and Direct Digital Holdings (DRCT) saw declines of 14.8% and 13.42%. Travelzoo (TZOO) also dropped by 8.9% after its Q1 earnings announcement.

Portfolio Pulse from Benzinga Insights

April 24, 2024 | 4:31 pm

EVO

PRE

VTAK

Health care stocks showed significant movement in Wednesday's intraday session, with notable gainers including Catheter Precision, Prenetics Global, and Alterity Therapeutics, among others. On the downside, GlucoTrack, Evotec, and Vaxxinity led the losers, with Evotec and Addex Therapeutics specifically reacting to their Q4 earnings reports.

Portfolio Pulse from Benzinga Insights

April 24, 2024 | 4:31 pm

AIRE

RBBN

TDY

In Wednesday's intraday session, 12 Information Technology stocks showed significant movement. Notably, ReAlpha Tech Corp (AIRE), NextTrip (NTRP), and Ribbon Comms (RBBN) were among the top gainers, with AIRE and RBBN's movements attributed to their Q1 earnings reports. On the downside, Brand Engagement Network (BNAI), Cemtrex (CETX), and Teledyne Technologies (TDY) led the losers, with TDY's drop also linked to its Q1 earnings report.

Portfolio Pulse from Benzinga Insights

April 24, 2024 | 4:31 pm

AAL

Recent options trading activity for American Airlines Gr (NASDAQ:AAL) shows a bearish sentiment among investors, with 54% of trades being bearish and 46% bullish. The trades range between $12.0 and $25.0 strike prices, indicating expectations of price movements within this range. The largest trades include both puts and calls, with varying sentiments. American Airlines, a major airline with the youngest fleet among U.S. legacy carriers, is currently experiencing a slight decrease in stock price, down by -1.9% to $13.96, and its earnings release is anticipated in 1 day.

Portfolio Pulse from Benzinga Insights

April 24, 2024 | 4:31 pm