Streetbeat News

Earnings

CRBU

Caribou Biosciences, Inc. (NASDAQ:CRBU) announced its participation in the 2024 ASCO Annual Meeting with two abstracts on its CRISPR genome-editing CAR-T cell therapies, CB-010 and CB-012, for r/r B-NHL and r/r AML, respectively. CB-010, a first-in-clinic allogeneic CAR-T therapy with a PD-1 knockout, targets B cell non-Hodgkin lymphoma and has received FDA designations including RMAT, Fast Track, and Orphan Drug. CB-012, targeting acute myeloid leukemia, features five genome edits for enhanced antitumor activity. Both presentations aim to showcase initial data and trial designs.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 2:03 pm

CP

Canadian Pacific Railway shares are trading lower due to worse-than-expected Q1 results.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 2:02 pm

OPRT

Oportun Financial (NASDAQ:OPRT) has seen varied analyst opinions ranging from bullish to bearish, with a recent shift towards a more cautious outlook. The average 12-month price target has been reduced by 26.67% to $5.5, reflecting a negative sentiment shift. Analysts from firms like B. Riley Securities and Jefferies have adjusted their ratings and price targets, indicating a reevaluation of Oportun Financial's market position and financial health. The company's financial challenges include a significant revenue decline of -49.74%, a net margin of -58.01%, and a high debt-to-equity ratio of 7.27, suggesting potential difficulties in achieving profitability and managing debt.

Portfolio Pulse from Benzinga Insights

April 24, 2024 | 2:01 pm

RILY

Recent options trading activity for B. Riley Financial (NASDAQ:RILY) shows a bearish sentiment among investors, with 66% of trades being bearish. The trading range is predicted between $19.0 and $35.0 over the next three months. The largest trades include both puts and calls, with a notable bearish stance on the $35.00 strike price. B. Riley Financial, a diversified financial services company, is currently experiencing a significant price increase, up 40.98% at $30.62, potentially indicating an overbought condition. The company's earnings release is anticipated in 12 days.

Portfolio Pulse from Benzinga Insights

April 24, 2024 | 2:01 pm

EVO

Evotec SE (NASDAQ:EVO) shares hit a 6-year low following a gloomy annual forecast despite a 4% Y/Y revenue increase to 781.4 million euros. The company announced a priority reset aimed at optimizing its business for profitable growth in 2024, including a new reporting structure and an expected annualized EBITDA improvement of over 40 million euros. Revenues from Just–Evotec Biologics surged 111% to 108.4 million euros, but the base business excluding this segment saw a 4% decline, partly due to a severe cyber-attack. The company forecasts double-digit revenue growth and a mid-double-digit percentage EBITDA growth for 2024.

Portfolio Pulse from Vandana Singh

April 24, 2024 | 2:01 pm

KMB

Kimberly-Clark (NYSE:KMB) received mixed analyst ratings in the last quarter, with a shift towards more bullish views in the last 30 days. The average 12-month price target for KMB has been raised to $137.7, reflecting a 4.49% increase from the previous target. Analysts from firms like Goldman Sachs, Barclays, and Deutsche Bank have adjusted their ratings and price targets, indicating a positive outlook on the company's performance. Kimberly-Clark's financials show a strong net margin and ROA, but its ROE and revenue growth rate lag behind industry averages.

Portfolio Pulse from Benzinga Insights

April 24, 2024 | 2:00 pm

CB

Chubb's stock price has declined following the release of their Q1 earnings report.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 1:55 pm

TSLA

Tesla Inc (NASDAQ:TSLA) shares surged on Wednesday despite reporting Q1 financial results that missed analyst estimates, with revenue at $21.301 billion versus the expected $22.151 billion, and adjusted earnings of 45 cents per share against the forecast of 51 cents. The stock's rise is attributed to Tesla's accelerated new model launch timeline and CEO Elon Musk's focus on AI, Full Self-Driving, and the announcement of the 'CyberCab' robotaxi. Analysts have mixed reactions, with price target adjustments and an upgrade from BofA Securities from Neutral to Buy.

Portfolio Pulse from Adam Eckert

April 24, 2024 | 1:54 pm

LRCX

MPWR

QCOM

QRVO

Chip stocks are experiencing an uptick following Texas Instruments' announcement of better-than-expected financial results for the first quarter. This positive news has led to increased investor confidence in the semiconductor sector, impacting related stocks.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 1:54 pm

TSLA

Elon Musk, during Tesla's Q1 earnings call, emphasized viewing Tesla (NASDAQ: TSLA) as an AI or robotics company rather than just an auto company, aligning with Cathie Wood's perspective. Despite a sales drop in China, Tesla performed better than competitors in the March 2024 quarter. Musk's comments follow Tesla's revenue report of $21 billion, missing Wall Street's $22.15 billion estimate. He stressed Tesla's focus on autonomy and AI, mentioning talks with a major automaker to license its Full Self-Driving software.

Portfolio Pulse from Rounak Jain

April 24, 2024 | 1:53 pm