Streetbeat News

Earnings

CDNS

Cadence Design System's shares dropped following its announcement of Q2 adjusted EPS and sales guidance below market expectations.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 8:08 pm

CDNS

Cadence reported a Q1 Non-GAAP Operating Margin of 38%, a decrease from 42% year-over-year.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 8:06 pm

CLF

Cleveland-Cliffs (NYSE:CLF) reported Q1 2024 earnings of $0.18 per share, missing the consensus estimate of $0.22. Sales were $5.2B, also below the $5.346B estimate, marking a 1.79% decrease from the previous year.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 8:06 pm

SFBS

Servisfirst Bancshares (SFBS) reported Q1 2024 earnings of $0.94 per share, surpassing the $0.88 estimate, with sales of $111.308M also beating the $109.100M estimate, despite a 2.89% decrease from the previous year.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 8:05 pm

CDNS

Cadence forecasts FY24 adjusted EPS of $5.88-$5.98, slightly below the $5.94 estimate, with revenue projections of $4.56B-$4.62B, aligning with the $4.59B estimate. For Q2, the company expects adjusted EPS of $1.20-$1.24, below the $1.43 estimate, and revenue of $1.03B-$1.05B, under the $1.11B estimate.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 8:05 pm

PKG

Packaging Corp of America (PKG) reported Q1 2024 adjusted EPS of $1.72, surpassing the $1.68 estimate, with sales of $1.979B exceeding the $1.909B forecast. This represents a slight 0.15% increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 8:04 pm

CDNS

Cadence has increased its revenue outlook for 2024, indicating a positive forecast for the company's financial performance in the upcoming year.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 8:03 pm

CDNS

Cadence Design Systems (CDNS) reported Q1 2024 adjusted EPS of $1.17, surpassing the $1.13 estimate, with sales of $1.009B also beating the $1.002B estimate. This represents a slight decrease of 1.27% in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 8:03 pm

SEDG

SolarEdge Technologies (NASDAQ:SEDG) has been analyzed by 19 analysts, showing a mix of ratings from bullish to bearish. The average 12-month price target is now $86.63, down from $97.88, indicating a negative sentiment shift. Analyst actions include lowering and raising price targets, reflecting responses to market dynamics and company performance. SolarEdge's financials show a -64.52% revenue decline and below-average profitability metrics, suggesting operational challenges.

Portfolio Pulse from Benzinga Insights

April 22, 2024 | 8:00 pm

SPOT

Spotify Technology (NYSE:SPOT) is set to report Q1 financial results with analysts expecting revenue of over $3.9 billion and EPS of 78 cents. Key focuses include potential price increases for subscribers, the impact of Taylor Swift's new album, and the growth in audiobooks usage among subscribers. Analysts are generally bullish, with several raising their price targets for SPOT shares, citing the company's market leadership, upcoming price increases, and expanding audiobook offerings as positive indicators for future profitability and free cash flow generation.

Portfolio Pulse from Chris Katje

April 22, 2024 | 7:50 pm