Streetbeat News

Earnings

ABEO

GM

HIBB

JBLU

LKQ

U.S. stocks saw gains with the S&P 500 up 1.24%, driven by General Motors' better-than-expected earnings. GM reported a 7.6% sales growth and raised its EPS outlook. Hibbett, Inc. surged 19% after being acquired by JD Sports Fashion. Oportun Financial and Palisade Bio also saw significant gains following positive announcements. Conversely, JetBlue Airways, Abeona Therapeutics, and LKQ Corporation experienced declines due to disappointing financial results and outlooks. Crude oil prices increased by 1.8%.

Portfolio Pulse from Avi Kapoor

April 23, 2024 | 6:31 pm

META

Meta Platforms shares are trading higher in anticipation of the earnings report scheduled for Wednesday.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 6:27 pm

PM

Philip Morris shares are trading higher following the announcement of better-than-expected Q1 financial results.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 6:13 pm

META

Meta Platforms Inc (NASDAQ:META) is set to report its Q1 earnings with high expectations from analysts, projecting a significant year-over-year revenue and EPS increase. Analysts anticipate a challenging quarter ahead due to tougher YoY comparisons, European regulations, and the impact of China-based advertisers. The company's advancements in AI and potential for a 'first mover advantage' in generative AI are highlighted as key factors to watch. Shares of META have seen a substantial increase, up over 130% in the last year.

Portfolio Pulse from Chris Katje

April 23, 2024 | 6:13 pm

SPOT

Spotify Technology SA (NYSE:SPOT) reported a strong fiscal first-quarter 2024 with a 20% year-on-year revenue growth to $3.95 billion, surpassing the consensus of $3.85 billion. EPS was $1.05, beating the consensus of $0.70. Goldman Sachs analyst Eric Sheridan maintains a Neutral rating on SPOT with a price target of $277. The positive earnings report and forward-looking commentary, along with improvements in gross and operating margins driven by music and podcast trends, led to a 14.74% increase in SPOT shares to $312.31.

Portfolio Pulse from Anusuya Lahiri

April 23, 2024 | 6:08 pm

NFLX

Netflix shares are experiencing an uptick as the market reacts positively to its recent earnings report, indicating a rebound in investor confidence.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 6:04 pm

ABEO

CYN

HIBB

NUE

Nucor Corporation's shares fell after reporting lower-than-expected quarterly results. Other stocks showed significant movement, with Cyngn Inc. and Pineapple Energy Inc. among the top gainers, while Abeona Therapeutics and Greenwave Technology Solutions were notable losers.

Portfolio Pulse from Avi Kapoor

April 23, 2024 | 5:53 pm

RTX

RTX Corporation (NYSE:RTX) reported a first-quarter FY24 adjusted net sales increase of 12% Y/Y to $19.3 billion, surpassing the consensus of $18.4 billion. Adjusted EPS rose 10% Y/Y to $1.34, beating the consensus of $1.23. The company reiterated its FY24 outlook, expecting sales of $78 billion-$79 billion and adjusted EPS of $5.25-$5.40. RTX's operating cash flow for the quarter was $0.3 billion, with a free cash outflow of $(0.1) billion. The backlog at the end of the quarter stood at $202 billion. RTX also entered into an energy supply agreement with ENGIE Resources LLC, a subsidiary of ENGIE North America.

Portfolio Pulse from Lekha Gupta

April 23, 2024 | 5:49 pm

EA

TTWO

Electronic Arts Inc. (NASDAQ:EA) is set to report its F4Q earnings on May 7, with expectations moderated due to macroeconomic challenges and a conservative outlook on live service bookings and game releases. Analysts from Oppenheimer, Martin Yang and Andrew Northcutt, maintain an Outperform rating on EA with a $150 price target, citing decent downside protection despite market challenges. The report anticipates strategic discussions on EA's digital and mobile growth, new game launches, and potential for strategic mergers and acquisitions. EA's stock was trading at $127.50, showing a slight increase. The analysts also compare EA favorably to Take-Two Interactive Software Inc (NASDAQ:TTWO), suggesting EA as a better buy in the near term.

Portfolio Pulse from Franca Quarneti

April 23, 2024 | 5:47 pm

BRKR

DHR

MEDP

Bruker Corporation's stock is trading higher due to positive momentum in the life sciences tools sector, influenced by strong earnings reported by Danaher and optimistic guidance from Medpace.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 5:37 pm