Streetbeat News

Earnings

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

ADPV

NETZ

VRT

Vertiv Holdings Co (NYSE:VRT) shares surged after reporting strong Q1 FY24 results, surpassing expectations with an 8% Y/Y net sales increase to $1.64 billion and raising its 2024 guidance. The company's adjusted operating profit rose 42% Y/Y, and it announced a $600 million share buyback. Vertiv's positive outlook is driven by robust demand for AI deployments, with a raised FY24 revenue guidance to $7.54-$7.69 billion and adjusted EPS to $2.29-$2.35. TCW Transform Systems ETF (BATS:NETZ) and Series Portfolios Trust Adaptiv Select ETF (NYSE:ADPV) offer exposure to Vertiv's stock.

Portfolio Pulse from Lekha Gupta

April 24, 2024 | 1:51 pm

KOF

Coca-Cola Femsa (NYSE:KOF) reported Q1 2024 earnings of $1.40 per share, surpassing the $1.23 estimate, with sales of $3.759B exceeding the $3.597B forecast, marking a 22.36% year-over-year increase.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 1:50 pm

SPY

Wall Street analysts predict a 2.5% growth in U.S. GDP for Q1 2024, a deceleration from the previous quarters but still solid. Consumer spending is expected to slow to 2.8%, with the GDP price index anticipated to rise by 3%. Goldman Sachs forecasts a more optimistic 3.1% growth, citing factors like increased residential investment and auto production. A stronger-than-expected GDP could impact the U.S. dollar positively, while a lower figure might benefit bonds and gold. The SPDR S&P 500 ETF Trust (SPY) rose 0.5% on the last GDP release.

Portfolio Pulse from Piero Cingari

April 24, 2024 | 1:49 pm

BKNG

Recent unusual options activity in Booking Holdings (NASDAQ:BKNG) indicates a bearish sentiment among deep-pocketed investors, with a notable division in sentiment (37% bullish, 50% bearish). The activity includes 2 puts and 6 calls with a price target range of $3510.0 to $4350.0. Current market analysis shows BKNG's stock slightly up by 0.09% at $3537.22, with a neutral RSI and an earnings announcement expected in 8 days. Analyst ratings from Wedbush and B. Riley Securities suggest a cautious but optimistic outlook with target prices of $3850 and $4400, respectively.

Portfolio Pulse from Benzinga Insights

April 24, 2024 | 1:47 pm

BKR

Baker Hughes forecasts a 20% increase in natural gas demand through 2040, with mid-single digit growth in LNG demand expected until the end of the decade, as discussed in their conference call.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 1:45 pm

FDBC

Fidelity D & D Bancorp reported a decrease in its Q1 2024 earnings per share (EPS) to $0.88, down from $1.24 in the same quarter of the previous year.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 1:43 pm