Streetbeat News

Earnings

XRX

Xerox Holdings Corp's shares declined following the announcement of disappointing Q1 results and the reiteration of its FY24 guidance.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 10:39 am

ZGN

Ermenegildo Zegna reported an 8% year-over-year increase in its Q1 revenue, reaching €463.2 million.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 10:38 am

JBLU

JetBlue Airways provided its outlook for Q2 and FY24, projecting a decrease in available seat miles and revenue year-over-year, with an increase in CASM Ex-Fuel. The company anticipates capital expenditures of approximately $550 million for Q2 and $1.6 billion for FY24.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 10:36 am

TSLA

Elon Musk endorsed ARK Invest's analysis, which predicts difficulty for Tesla's rivals in matching its pricing, ahead of Q1 earnings. ARK Invest, optimistic about Tesla's long-term prospects, has set a $2000 price target for Tesla by 2027. Despite a year-over-year decline in deliveries and production, ARK Invest bought over $17 million in Tesla shares recently.

Portfolio Pulse from Benzinga Neuro

April 23, 2024 | 10:36 am

XRX

Xerox Holdings Corp has reiterated its FY24 revenue guidance, expecting a decline of 3%-5% in constant currency compared to estimates of $6.59B. The company also forecasts an adjusted operating margin of at least 7.5% and a free cash flow of at least $600 million.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 10:35 am

JBLU

JetBlue Airways projects a revenue decline of 10.5% to 6.5% in Q2 and a low single-digit decrease for FY24. ASMs are expected to drop by 5.0% to 2.0% in Q2, with a similar trend for the full year. CASM Ex-Fuel is anticipated to increase by 5.5% to 7.5% in Q2 and by mid-to-high single digits for FY24. Fuel prices are estimated to be between $2.98 and $3.13 per gallon in Q2, with capital expenditures projected at approximately $550 million for Q2 and $1.6 billion for FY24.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 10:35 am

IQ

'China's Netflix', iQiyi Inc. (NASDAQ:IQ), is shifting its focus towards the aging population in China by leveraging artificial intelligence (AI) to enhance content production. The company aims to cater to older users' needs and improve content quality for children, considering the demographic changes in China. iQiyi, which recently turned profitable, is also looking to expand its business overseas as growth in China moderates. This strategy includes integrating AI tools to replicate multi-camera shots and analyze novels for production-worthy stories.

Portfolio Pulse from Benzinga Neuro

April 23, 2024 | 10:35 am

HRI

Herc Holdings has reaffirmed its 2024 performance targets, excluding Cinelease, projecting 7-10% growth in equipment rental revenue and an adjusted EBITDA of $1.55B-$1.60B. The company maintains its guidance for rental capital expenditures.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 10:34 am

PHM

PulteGroup reported a 14% increase in Q1 net new orders, totaling 8,379 homes, indicating a positive trend in the housing market and potential growth for the company.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 10:34 am

GM

GM shares are trading higher following the company's announcement that it beat Q1 earnings estimates and has raised its outlook for 2024.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 10:33 am