Streetbeat News

Earnings

CADE

Cadence Bank (NYSE:CADE) reported Q1 adjusted earnings per share of $0.62, surpassing the analyst consensus estimate of $0.55 by 12.73%. However, this represents an 8.82% decrease from the $0.68 per share reported in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 8:37 pm

NBTB

NBT Bancorp (NBTB) reported Q1 2024 earnings of $0.68 per share, meeting analyst estimates, with sales of $140.566M surpassing the $135.325M forecast, marking an 11.14% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 8:36 pm

CDNS

Cadence Design Systems, Inc. (NASDAQ:CDNS) reported Q1 earnings of $1.17 per share, surpassing estimates of $1.13, and sales of $1.009 billion, slightly above the $1.002 billion estimate. However, the company's Q2 earnings and revenue guidance fell below analyst expectations, with earnings projected between $1.20 and $1.24 per share against a $1.43 estimate, and revenue forecasted between $1.03 billion and $1.05 billion, compared to the $1.11 billion estimate. Shares dropped 8.77% after-hours.

Portfolio Pulse from Erica Kollmann

April 22, 2024 | 8:36 pm

NUE

Nucor's shares dropped following the announcement of their Q1 financial results, which fell short of expectations.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 8:36 pm

CDNS

SNPS

Synopsys shares are trading lower due to the impact of Cadence Design Systems' Q1 financial results.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 8:34 pm

NUE

Nucor anticipates a decrease in earnings for Q2 of 2024 compared to Q1, primarily due to lower average selling prices in the steel mills segment, with a modest increase in volumes. The steel products segment is also expected to see decreased earnings due to lower prices, despite increased volumes. However, the raw materials segment is projected to have higher earnings, driven by increased profitability in direct reduced iron facilities and scrap processing operations.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 8:31 pm

AUID

CALX

CDNS

In Monday's after-market session, several Information Technology stocks showed notable movements. AuthID, XIAO-I, Gorilla Tech Gr, UTime, Alpine 4 Holdings, and Akoustis Technologies were among the gainers, with increases ranging from 4.26% to 10.0%. On the downside, Calix, Cadence Design Sys, Taoping, MariaDB, Sprinklr, and Vertex experienced declines between 3.47% and 15.3%, with Calix and Cadence Design Sys reporting Q1 earnings.

Portfolio Pulse from Benzinga Insights

April 22, 2024 | 8:31 pm

NUE

Nucor (NYSE:NUE) reported Q1 earnings of $3.46 per share, missing the consensus estimate of $3.65, and sales of $8.14B, below the expected $8.26B. This represents a decrease from the previous year's earnings and sales.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 8:31 pm

SSD

Simpson Manufacturing has reaffirmed its FY24 operating margin forecast of 20.0%-21.5% and reduced its capital expenditure estimate from $200 million to $185 million. The company anticipates low single-digit growth in U.S. housing starts, but expects European housing starts to be below the prior year.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 8:30 pm

CLF

Cleveland-Cliffs Inc (NYSE:CLF) reported Q4 earnings with revenue of $5.2 billion and EPS of 18 cents, both missing estimates. The company announced a $1.5 billion share buyback program and maintained its full-year 2024 guidance, expecting benefits from lower costs and strong automotive sector demand.

Portfolio Pulse from Adam Eckert

April 22, 2024 | 8:29 pm