Streetbeat News

Earnings

APH

CWS

MDCP

Amphenol Corporation (NYSE:APH) reported a 9% year-on-year sales increase for Q1 2024, reaching $3.256 billion and beating consensus estimates. Adjusted EPS was $0.80, surpassing the expected $0.73. The company announced a new $2 billion stock repurchase program and expects Q2 sales to increase by 6%-8%. APH stock has gained over 48% in the last 12 months. Investors can also gain exposure through VictoryShares THB Mid Cap ETF (NASDAQ:MDCP) and AdvisorShares Focused Equity ETF (NYSE:CWS).

Portfolio Pulse from Anusuya Lahiri

April 24, 2024 | 2:15 pm

IBM

IBM is set to release its Q1 earnings on April 24, 2024, with expectations of earnings per share at $1.60, up from $1.36 the previous year, and revenue projected at $14.55 billion, up from $14.25 billion. The company's shares rose 0.2% to close at $182.19 recently. Analysts have revised their forecasts and ratings ahead of the earnings call, with varied opinions from maintaining Hold and Sell ratings to upgrading to Buy and Outperform, and adjusting price targets accordingly.

Portfolio Pulse from Avi Kapoor

April 24, 2024 | 2:12 pm

HUM

Humana Inc (NYSE:HUM) reported Q1 adjusted EPS of $7.23, surpassing the consensus of $6.12, with revenues of $29.33 billion, exceeding expectations and last year's $25.65 billion. The increase was attributed to higher per-member Medicare premiums and growth in Medicare Advantage membership, which rose to 6.1 million from 5.67 million in Q1 2023. Despite a previous Q4 loss, Humana reaffirmed its 2024 earnings guidance at $16 per share and raised its Medicare Advantage membership growth forecast. HUM shares fell 3.68% to $315.86 after the announcement.

Portfolio Pulse from Vandana Singh

April 24, 2024 | 2:10 pm

SNAP

Snap Inc (NYSE:SNAP) shares experienced volatility, initially rising in premarket trading after Congress passed a bill to potentially ban or force a sale of TikTok, which could benefit Snap by reducing competition. However, shares turned negative after the market opened. The bill, part of an aid package, is expected to be signed by President Biden, giving TikTok's parent company ByteDance nine months to divest. Additionally, Snap's upcoming earnings report is contributing to its stock volatility, with analysts expecting a loss of 5 cents per share on revenue of $1.119 billion.

Portfolio Pulse from Adam Eckert

April 24, 2024 | 2:09 pm

SMH

TSLA

TXN

Tesla's recent earnings report has led to a surge in its stock price, positively impacting the broader electric vehicle market. Similarly, Texas Instruments' performance has uplifted the semiconductor sector, with the VanEck Vectors Semiconductor ETF (SMH) also experiencing gains.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 2:08 pm

IDYA

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) announced that interim results from a Phase 2 trial of darovasertib for uveal melanoma will be presented at ASCO 2024. The presentation is scheduled for June 3, 2024, with the abstract summary available on May 23, 2024. This marks a significant milestone in the development of darovasertib as a potential treatment for uveal melanoma.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 2:06 pm

NSC

Norfolk Southern shares are trading lower due to worse-than-expected Q1 financial results.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 2:06 pm

GE

GE Aerospace shares are trading lower after gaining on Tuesday due to Q1 financial results.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 2:05 pm

GD

General Dynamics shares are trading lower due to worse-than-expected Q1 financial results.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 2:05 pm

CGON

CG Oncology, Inc. (NASDAQ:CGON) announced that the final results of its Phase 2 trial of cretostimogene in combination with pembrolizumab will be presented at the ASCO 2024 Annual Meeting. The trial, CORE-001, focuses on a bladder-sparing therapeutic for patients with bladder cancer. The presentation will detail the trial's findings on the treatment of BCG-Unresponsive, Non-Muscle Invasive Bladder Cancer with Carcinoma in Situ.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 2:04 pm