Streetbeat News

Earnings

SOFI

Recent unusual options activity in SoFi Technologies (NASDAQ:SOFI) indicates a bearish sentiment among investors, with 63% of trades being bearish. The activity suggests an expected price range of $7.0 to $13.0 for SOFI over the next three months. The largest trades include both puts and calls, with a notable bearish put at a strike price of $13.00 expiring on 06/21/24. SoFi, a financial-services company, is expanding its offerings beyond student loan refinancing. The current market status shows SOFI's price at $7.21, with an upcoming earnings announcement. Analysts have issued mixed ratings with a consensus target price of $10.125.

Portfolio Pulse from Benzinga Insights

April 22, 2024 | 5:45 pm

MSFT

Microsoft Corp. (NYSE:MSFT) is set to report its fiscal Q3 2024 earnings with expectations of significant growth. Analysts predict earnings per share of $2.83 and revenue of $60.769 billion, marking a 15.1% year-on-year increase in revenue and a 15.98% increase in earnings. Goldman Sachs highlights Microsoft's unique position to scale Gen-AI revenue, projecting a +15% revenue growth and a 28% Azure growth. The firm maintains a 'Buy' rating on MSFT, with a 12-month price target of $450, indicating a strong investment opportunity.

Portfolio Pulse from Piero Cingari

April 22, 2024 | 5:40 pm

The Procter & Gamble Company (NYSE:PG) reported its fiscal third quarter financials, revealing a 1% increase in net sales to $20.20 billion, missing the expected $20.41 billion. However, net income rose 11% YoY to $3.75 billion, surpassing the estimate of $1.41 per share. Despite no price hikes in the quarter, prices were up 3% YoY. Organic sales expanded 3% YoY, but volume growth remained flat for the second consecutive quarter. P&G's beauty, grooming, and fabric and home business segments saw volume growth, while health care and baby, along with feminine and family care segments, saw declines. The company raised its full-year core net earnings per share growth forecast to 10-11% and maintained its sales growth forecast at 2-4%.

Portfolio Pulse from Upwallstreet

April 22, 2024 | 5:39 pm

NKGN

NKGen Biotech Inc (NASDAQ:NKGN) shares surged by 29.30% to $1.43 on Monday with a trading volume of 19.25 million, significantly higher than its 100-day average of 2.85 million. The increase comes without specific news to justify the price jump. The company is preparing to present its NK cell therapy developments for neurodegenerative diseases at the 12th Annual Alzheimer's & Parkinson's Drug Development Summit. Earlier, NKGen Biotech secured $5 million in second-lien convertible loan funding, contributing to a total of approximately $4.75 million in gross cash proceeds for 2024. CEO Paul Song highlighted the company's focus on Phase 2 Alzheimer's clinical trials, a recent IND submission for Parkinson's disease, and a nearly 50% reduction in monthly operational and clinical trial expenses.

Portfolio Pulse from Vandana Singh

April 22, 2024 | 5:38 pm

AAPL

AMD

INTC

NVDA

QCOM

TSM

TSMC reported strong Q1 results, surpassing estimates due to high AI demand. Its customers, including NVIDIA, Apple, AMD, and Qualcomm, contribute to its growth. NVIDIA aims to expand into AI software services, mirroring TSMC's role in chip manufacturing. TSMC's Q2 guidance reflects strong demand but anticipates a slight margin decline due to an earthquake and higher costs, though with minimal revenue impact. TSMC plans to mass-produce more efficient 2-nanometer chips by 2025 and expects significant revenue growth from AI processors.

Portfolio Pulse from Upwallstreet

April 22, 2024 | 5:31 pm

PZZA

Stifel analyst Chris O’Cull upgraded Papa John’s International Inc (NASDAQ:PZZA) from Sell to Hold, lowering the price target from $65 to $60, citing reasonable near-term expectations despite challenging competition and a tough category. The analyst highlighted concerns over domestic comparable sales, which were about -1% in the first quarter, and the impact of a value-centric market environment on sales. The revision of the FY24 EPS estimate to $2.57 from $2.65 reflects anticipated slower domestic sales ramp in Q2. PZZA shares rose 1.31% to $63.32.

Portfolio Pulse from Shivani Kumaresan

April 22, 2024 | 5:29 pm

MLEC

MTTR

TSLA

VAXX

Vaxxinity, Inc. announced its intention to voluntarily delist and deregister its Class A common stock, causing a sharp decline in its shares by around 55%. Other stocks experienced significant movements, with Matterport, Inc. seeing a jump due to an acquisition announcement by CoStar Group, and various companies reporting gains due to positive developments such as USDA approvals, IPO pricing, and compliance regains. Conversely, several companies faced declines due to negative news such as wind-down activities, delisting determinations, and price reductions.

Portfolio Pulse from Avi Kapoor

April 22, 2024 | 5:26 pm

AAPL

VGT

XLK

Morgan Stanley analyst Erik Woodring maintained an Overweight rating on Apple Inc (AAPL) but lowered the price target from $220 to $210, citing a similar earnings setup to 3 months ago with expectations of a slight upside to March quarter revenue but a sizable June quarter guide-down vs. consensus. Despite a 12% lower share price and more harmful buy-side sentiment, Woodring sees potential for a relief rally post-earnings, especially with the upcoming WWDC and new AI software features. Apple's stock has lost 11% year-to-date, but there's nearly 30% upside to the new price target. Investors can also gain exposure to Apple through ETFs like Vanguard Information Tech ETF (VGT) and SPDR Select Sector Fund - Technology (XLK).

Portfolio Pulse from Anusuya Lahiri

April 22, 2024 | 5:24 pm

PPG

KeyBanc analyst Aleksey Yefremov maintained an Overweight rating on PPG Industries Inc (NYSE:PPG) but lowered the price target from $164 to $162 after Q1 FY24 earnings. The earnings per share were in line with estimates at $1.86, but sales of $4.31 billion missed the $4.43 billion estimate. Despite concerns over margin cycles, the analyst sees petrochemical inflation as manageable and expects improvement into 2024 and 2025. PPG maintained its $8.47 EPS guidance for 2024, with second-quarter volumes expected to grow in low-single-digits.

Portfolio Pulse from Shivani Kumaresan

April 22, 2024 | 5:14 pm

DHR

Financial analysis reveals a bearish sentiment on Danaher (NYSE:DHR) with 66% of options trades showing bearish tendencies. The analysis highlighted 9 unusual trades, predominantly puts, indicating a focus on a price band between $195.0 and $250.0. Current market data shows DHR trading up by 0.18% at $235.93, with an anticipated earnings release in 1 day. Industry analysts have set an average target price of $270.0, with Barclays maintaining an Equal-Weight rating at $260 and HSBC upgrading to Buy with a target of $280.

Portfolio Pulse from Benzinga Insights

April 22, 2024 | 5:02 pm