Streetbeat News

Earnings

DGX

Quest Diagnostics Inc (NYSE:DGX) reported a Q1 adjusted EPS of $2.04, surpassing the consensus of $1.86, with sales increasing 1.5% Y/Y to $2.37 billion, exceeding Wall Street's estimate of $2.29 billion. This marks the first revenue growth since the pandemic's peak nearly three years ago, driven by a nearly 6% base business revenue growth and strong performance in key clinical areas. The company slightly adjusted its 2024 revenue and EPS guidance upwards. William Blair anticipates the stock to rise, rating it as Outperform due to better-than-expected metrics and a positive outlook for steady long-term growth.

Portfolio Pulse from Vandana Singh

April 23, 2024 | 4:44 pm

ADM

FTRI

FTXG

Archer-Daniels-Midland Company (ADM) shares fell after CFO Vikram Luthar announced his resignation effective September 30, 2024. Luthar, who was placed on leave in January 2024 amid an accounting probe in the Nutrition division, will remain as a non-executive employee to aid in the transition. The company recently reported Q4 FY23 revenues and adjusted EPS that missed consensus estimates. Investors can also gain exposure to ADM through ETFs like FTXG and FTRI.

Portfolio Pulse from Lekha Gupta

April 23, 2024 | 4:32 pm

ABEO

CYN

JBLU

LKQ

OPRT

PALI

U.S. stocks traded higher with the Dow Jones gaining over 200 points. Cyngn Inc. surged 70% after announcing a supply agreement with John Deere. Oportun Financial and Palisade Bio also saw significant gains following positive announcements. Conversely, JetBlue Airways, Abeona Therapeutics, and LKQ Corporation experienced notable declines due to disappointing financial results and outlooks. The S&P Global services PMI fell to 50.9, missing estimates and indicating a slowdown in service sector growth.

Portfolio Pulse from Avi Kapoor

April 23, 2024 | 4:21 pm

META

Meta Platforms Inc (NASDAQ:META) is set to report its Q1 earnings with Wall Street expecting $4.28 EPS and $36.1 billion in revenues. Despite a 130% increase in the past year and over 39% YTD, technical indicators suggest a bearish sentiment ahead of the earnings report. The stock is below its short-term moving averages and the MACD indicator suggests bearish momentum, although it remains above its 200-day SMA, indicating some bullish signals. Analyst consensus rates META as a Buy with a target of $459.70, but recent reviews suggest a higher potential upside.

Portfolio Pulse from Surbhi Jain

April 23, 2024 | 4:16 pm

MS

Smart money investors have shown a bearish stance on Morgan Stanley (NYSE:MS), with options trading indicating a split sentiment of 20% bullish and 60% bearish. Notable options activity includes a mix of calls and puts with a focus on a price band between $50.0 and $100.0. The trading volume of MS is up by 1.44%, with a current price of $93.42, and the stock may be approaching overbought territory. The next earnings report is scheduled in 84 days.

Portfolio Pulse from Benzinga Insights

April 23, 2024 | 4:15 pm

PLTR

Palantir Technologies Inc. (NYSE:PLTR) shares are trading higher amid a broader market rally, following its designation as an 'Awardable' vendor for the CDAO's Tradewinds Solutions Marketplace. The company has been pitching its software to ad agencies and is set to report Q1 financial results on May 6. Analysts expect earnings of 8 cents per share and quarterly revenue of $625.33 million. Palantir's stock is up 3.23% at $21.65.

Portfolio Pulse from Erica Kollmann

April 23, 2024 | 4:09 pm

NFLX

ROKU

Roku, Inc. (NASDAQ:ROKU) shares are trading higher ahead of its earnings report on Thursday, following a dip last week in sympathy with Netflix's (NASDAQ:NFLX) post-earnings drop. Wedbush and Benchmark analysts have recently updated their price targets and ratings for Roku, with expectations for the company to report a loss of 61 cents per share and revenue of $848.616 million for the quarter. Wall Street holds an average 12-month price target of $90.60 for Roku, with a mix of positive and negative analyst ratings.

Portfolio Pulse from Erica Kollmann

April 23, 2024 | 4:08 pm

BOH

Bank of Hawaii Corp (NYSE:BOH) reported disappointing Q1 results with a decline in net interest income (NII) margin, missing guidance. Analysts from Keefe, Bruyette & Woods and Piper Sandler provided mixed reviews, adjusting their price targets and ratings. Despite the NII margin contraction, there are positive signs, including well-controlled expenses and potential for increased interest income from redeploying cash flows.

Portfolio Pulse from Priya Nigam

April 23, 2024 | 4:08 pm

FL

Foot Locker experienced a notable options trading activity, with a sweep of 347 calls for January 2026 at a $40 strike price, priced at $2.351, compared to an open interest of 160. This activity comes ahead of their estimated earnings report on May 17, before the market opens, with the reference stock price at $21.9.

Portfolio Pulse from Charles Gross

April 23, 2024 | 4:01 pm

MEDP

Medpace Holdings (NASDAQ:MEDP) has been evaluated by 5 analysts over the last three months, showing a diverse range of opinions from bullish to bearish. The average 12-month price target for MEDP has been raised to $437.00, indicating a 26.12% increase from the previous target. Analysts from firms like Jefferies, Deutsche Bank, UBS, and Baird have updated their ratings and price targets, reflecting positive sentiment towards the company's performance and market position. Medpace, a contract research organization, has shown strong financials with significant revenue growth, high net margin, and solid returns on equity and assets, alongside prudent debt management.

Portfolio Pulse from Benzinga Insights

April 23, 2024 | 4:01 pm