Streetbeat News

Earnings

UAL

United Airlines' shares are experiencing an upward trend following the announcement of their Q1 financial results, which surpassed expectations.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 7:46 pm

AMZN

BofA Securities analyst Justin Post reiterated a Buy rating on Amazon (AMZN) with a $204 price target, expecting Q1 earnings to benefit from AWS, advertising, and retail innovation. Post forecasts Q1 revenue at $143 billion, with AWS expected to grow quarter-over-quarter by $545 million and 16% year-over-year, slightly above market expectations. He also adjusted Q2 revenue expectations to $149.9 billion due to U.S. dollar depreciation and seasonal sales events. The analyst highlights Amazon's Big Spring Sale and Prime Video ads as additional revenue drivers, suggesting room for multiple expansion despite a year-to-date increase in the forward P/S multiple.

Portfolio Pulse from Anusuya Lahiri

April 22, 2024 | 7:38 pm

ON

ON Semiconductor (NASDAQ:ON) has seen a notable options trading activity, with a mix of bullish and bearish sentiments among traders. Analysis of 13 unusual trades revealed an equal split in sentiment, with significant trades targeting a price range of $40.0 to $75.0. The company, a leading supplier of power semiconductors and sensors, is currently trading at $61.1, up 0.64%, with an anticipated earnings release in 7 days. Analyst ratings over the past month have set an average target price of $78.2, with varied outlooks from major firms.

Portfolio Pulse from Benzinga Insights

April 22, 2024 | 7:01 pm

EXLS

Analyst ratings for ExlService Holdings (NASDAQ:EXLS) show a mix of bullish to bearish sentiments, with recent adjustments in price targets and ratings by analysts from Citigroup, TD Cowen, and Needham. The average 12-month price target is set at $37.5, indicating a 3.22% increase from the previous target. ExlService Holdings, a business process management company, has shown impressive financial health with a revenue growth rate of 10.5%, a net margin of 9.73%, and strong ROE and ROA figures.

Portfolio Pulse from Benzinga Insights

April 22, 2024 | 7:00 pm

CDNS

Analyst ratings for Cadence Design Systems (NASDAQ:CDNS) show a mix of bullish and bearish perspectives with a recent shift towards more positive evaluations. The average 12-month price target for CDNS has increased by 7.83% to $323.75, reflecting optimism about the company's future performance. Cadence Design Systems, a leading provider of electronic design automation software, has demonstrated strong financial health with a revenue growth rate of 18.75%, a net margin of 30.31%, and an exceptional return on equity (ROE) of 9.94%. The company's market capitalization and financial metrics indicate a robust market position and efficient cost management.

Portfolio Pulse from Benzinga Insights

April 22, 2024 | 7:00 pm

J

Jacobs Solutions (NYSE:J) received mixed ratings from 5 analysts, with recent updates showing a bullish trend. The average 12-month price target is $162.00, marking a 4.85% increase from the previous target. Analysts from Citigroup, B of A Securities, Argus Research, Truist Securities, and RBC Capital have adjusted their ratings and price targets, reflecting optimism about the company's performance. Jacobs Solutions, a global engineering and construction firm, reported a revenue growth of 9.49% and a net margin of 4.13% for fiscal 2023, indicating strong financial health despite a lower ROE of 2.6% compared to industry averages.

Portfolio Pulse from Benzinga Insights

April 22, 2024 | 7:00 pm

WAL

Western Alliance Bancorp (NYSE:WAL) reported Q1 earnings that exceeded expectations, with a 3.61% EPS surprise and a 4.56% revenue surprise. JPMorgan analyst Steven Alexopoulos maintains an Overweight rating on WAL, with a price target of $80, citing strong growth potential through 2024 and 2025. The bank's strategic initiatives have strengthened its financial position, including a decrease in the loan-to-deposit ratio and a surge in deposit growth. Alexopoulos highlights the bank's potential to benefit from future Federal Reserve rate cuts, projecting significant increases in loans and deposits in the coming years.

Portfolio Pulse from Surbhi Jain

April 22, 2024 | 6:52 pm

HEPA

MLEC

MTTR

NIVF

VAXX

WRNT

ZION

U.S. stocks saw gains with the S&P 500 rising over 1%. Zions Bancorporation (ZION) shares increased by 4% after reporting Q1 earnings that exceeded EPS estimates but missed revenue forecasts. Other notable movements included Moolec Science (MLEC), NewGenIvf Group (NIVF), and Matterport (MTTR) experiencing significant gains, while Vaxxinity (VAXX), Hepion Pharmaceuticals (HEPA), and Warrantee (WRNT) saw sharp declines.

Portfolio Pulse from Avi Kapoor

April 22, 2024 | 6:46 pm

OXY

Financial analysis of Occidental Petroleum (NYSE:OXY) reveals a bearish sentiment among traders based on unusual options activity. With 26 unusual trades analyzed, 53% were bearish. The options market targets a price range of $55.0 to $77.5 for OXY. Recent trading volume and open interest analysis show significant activity within this price range. Occidental Petroleum, an independent oil and gas company, has seen its stock price increase by 1.35% to $67.53, with analysts giving mixed ratings and target prices ranging from $70 to $84. The next earnings report is expected in 15 days.

Portfolio Pulse from Benzinga Insights

April 22, 2024 | 6:45 pm

TMO

Thermo Fisher Scientific (NYSE:TMO) has seen a surge in options activity, with a balanced mix of bullish and bearish sentiments among investors. The activity involves significant trades within a price window of $520.0 to $590.0. Current market data shows TMO's stock price up by 1.32% at $551.96, with an RSI indicating a neutral position. Analysts from Evercore ISI Group, HSBC, and Goldman Sachs maintain positive ratings, with target prices ranging from $610 to $660. The company's anticipated earnings release is in 2 days, adding to the investor interest.

Portfolio Pulse from Benzinga Insights

April 22, 2024 | 6:45 pm