Streetbeat News

Earnings

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

RLI

RLI Corp reported Q1 2024 adjusted EPS of $1.89, surpassing the $1.60 estimate, and sales of $377.633M, exceeding the $367.777M forecast. This represents a 15.95% increase in earnings and a 10.23% rise in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 8:28 pm

AAPL

AMZN

GOOGL

META

MSFT

NVDA

PDD

QQQ

SMH

TSLA

The Nasdaq 100, tracked by Invesco QQQ Trust, rose 1%, ending a three-day loss as tech stocks rebounded ahead of earnings reports from Tesla, Meta Platforms, Microsoft, and Alphabet. PDD Holdings and Nvidia led the rally, while the VanEck Semiconductor ETF also gained. UBS downgraded major tech stocks from Overweight to Neutral due to slowing earnings momentum, cautioning investors about the tech sector's outlook.

Portfolio Pulse from Piero Cingari

April 22, 2024 | 8:28 pm

OPRT

Oportun Financial Corporation (OPRT) has announced its preliminary Q1 total revenue to be between $248M and $250M, surpassing the estimated $235.84M.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 8:27 pm

ARE

Alexandria Real Estate Equities, Inc. (ARE) shares have seen an uptick following the announcement of their first-quarter financial results, which surpassed analysts' expectations.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 8:27 pm