Streetbeat News

Earnings

GL

Globe Life's stock price increased after the company reported its Q1 earnings, which led Keefe, Bruyette & Woods to upgrade the stock to Outperform.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 4:22 pm

ARCB

ArcBest shares are trading lower due to a downturn in freight stocks, triggered by disappointing earnings from Old Dominion Freight Line.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 4:21 pm

WSO

Watsco shares are trading higher following the announcement of their Q1 financial results.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 4:20 pm

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