Streetbeat News

Earnings

ORCL

Benzinga's options scanner revealed significant options activity on Oracle (NYSE:ORCL), with over 9 transactions totaling $447,265 and 4 puts valued at $528,150. The activity suggests a price target range of $112.0 to $130.0 for ORCL. Notable trades include both bullish and bearish sentiments, with a mix of PUT and CALL options. Oracle's current market position shows a slight increase in stock price to $115.08, with potential indications of being oversold. The next earnings report is expected in 49 days.

Portfolio Pulse from Benzinga Insights

April 22, 2024 | 2:16 pm

FCX

Whales have shown a bearish stance on Freeport-McMoRan (FCX), with options trading indicating a mix of bullish and bearish expectations, but leaning towards bearish. Significant trading activity suggests a price target range of $48 to $60. Analysts have given mixed reviews, with an average target price of $55.33. FCX's current trading volume is 3,697,417, with a price decrease of -1.37%, and an earnings announcement expected soon.

Portfolio Pulse from Benzinga Insights

April 22, 2024 | 2:16 pm

ACI

KR

Albertsons Companies Inc (NYSE:ACI) reported a slight sales growth in Q4 FY23 but missed analyst estimates. The company saw a 0.4% year-on-year increase in sales to $18.34 billion, with a notable 24% increase in digital sales. However, adjusted EBITDA fell by 12.8% Y/Y. Adjusted EPS of $0.54 beat estimates. Albertsons and Kroger Co (NYSE:KR) have updated their divestiture plan with C&S Wholesale Grocers to address antitrust concerns, increasing the total store count to be sold to 579. ACI shares rose by 0.17% following the news.

Portfolio Pulse from Shivani Kumaresan

April 22, 2024 | 2:09 pm

WETH

Wetouch Technology Inc. (NASDAQ:WETH) forecasts a 41% year-over-year revenue growth to $56.3 million for FY24, building on a strong FY23 performance with $39.70 million in revenue and $8.26 million in net income. The company attributes this growth to its commitment to innovation, customer satisfaction, and an expanding global client base.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 2:01 pm

VTLE

Vital Energy (NYSE:VTLE) has received mixed analyst ratings over the past three months, with a total of 11 ratings ranging from bullish to indifferent. The average 12-month price target for VTLE has been raised to $59.55, up from $57.91, indicating a positive outlook from analysts. Key analysts from firms like Keybanc, Piper Sandler, and Wells Fargo have adjusted their ratings and price targets, reflecting their perspectives on the company's performance and market conditions. Vital Energy, an independent energy company focused on oil and natural gas in the Permian Basin, has shown strong financial performance with a revenue growth rate of 22.08%, a net margin of 63.21%, and an ROE of 12.33%.

Portfolio Pulse from Benzinga Insights

April 22, 2024 | 2:00 pm

BA

Investors have shown a bearish stance on Boeing (NYSE:BA), with options trading data revealing a split sentiment of 40% bullish and 60% bearish. The big-money trades, totaling over $470,000, target a price window of $145.0 to $250.0 for Boeing. The trading volume and RSI indicators suggest Boeing may be oversold, with an earnings announcement expected in 2 days.

Portfolio Pulse from Benzinga Insights

April 22, 2024 | 1:47 pm

ZION

Zions Bancorporation, N.A. (NASDAQ:ZION) reported a first-quarter FY24 revenue decline of 11.6% year-on-year to $742 million, missing analyst estimates by a slight margin. Pre-provision net revenue fell 33%, while loans and leases saw a 3% increase. Nonperforming assets were at 0.44% of loans and leases, with total deposits up 7%. Net Interest Margin decreased to 2.94% from 3.33% last year, though the CET1 capital ratio improved to 10.4%. Adjusted EPS of $1.03 beat estimates, and ZION shares rose 2.7% to $41.01.

Portfolio Pulse from Shivani Kumaresan

April 22, 2024 | 1:45 pm

HEPA

MLEC

NIVF

SPCB

VAXX

YYAI

U.S. stocks traded higher with the Dow Jones gaining over 100 points. The Chicago Fed National Activity Index rose to +0.15 in March, exceeding expectations. Moolec Science SA, NewGenIvf Group Limited, and SuperCom Ltd. saw significant stock increases, while Vaxxinity, Inc., Hepion Pharmaceuticals, Inc., and Connexa Sports Technologies Inc. experienced notable declines.

Portfolio Pulse from Avi Kapoor

April 22, 2024 | 1:41 pm

COF

DFS

MA

V

Visa Inc (NYSE:V) is facing bearish momentum ahead of its Q2 earnings report, with expectations of $2.44 EPS and $8.62 billion in revenues. The stock has declined over 7% since March 21, influenced by Capital One's acquisition of Discover Financial Services and a class action settlement requiring Visa and Mastercard to reduce swipe fees. Mastercard also experienced a stock decline of 6.80% since March 21. Visa's technical setup shows bearish trends, but analysts have an Outperform consensus with a price target of $301.67, indicating a potential upside.

Portfolio Pulse from Surbhi Jain

April 22, 2024 | 1:39 pm

T

VZ

AT&T shares are trading higher, following Verizon's positive momentum after the latter reported favorable Q1 earnings.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 1:34 pm