Streetbeat News

Earnings

INFA

Informatica (INFA) has updated its Q1 2024 financial outlook, expecting GAAP Total Revenues, Subscription ARR, Cloud Subscription ARR, and Non-GAAP Operating Income to be within the upper half of its previously provided guidance. The company also anticipates Adjusted Unlevered Free Cash Flow to significantly exceed 100% of Non-GAAP Operating Income and has reaffirmed its full-year 2024 financial outlook. Q1 2024 results will be announced on May 1, 2024.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 1:14 pm

MSFT

SPY

TSLA

Bitcoin transaction fees have reached a 5-year low post-halving, while US stocks anticipate a rise due to Big Tech earnings. The US political landscape is heated with discussions on TikTok bans and support for Israel. Globally, tensions rise with military spending and diplomatic efforts. The NYSE considers 24/7 trading, and tech giants like Microsoft and Meta are in focus. The EV market sees Tesla at 15-month lows and discussions on pricing strategies. Express files for bankruptcy, and TikTok faces regulatory challenges. Quanex acquires Tyman, and Plus Therapeutics receives a grant from the US Department of Defense. Blackstone bids for Hipgnosis, and Elon Musk predicts home robots for every American household.

Portfolio Pulse from Akanksha Bakshi

April 22, 2024 | 1:12 pm

CAH

UNH

Cardinal Health, Inc. (NYSE:CAH) announced it will not renew its pharmaceutical distribution contracts with OptumRx, a subsidiary of UnitedHealth Group Inc (NYSE:UNH), expiring end of June 2024. Despite this, Cardinal Health reaffirmed its fiscal 2024 EPS guidance and long-term profit growth targets. Sales to OptumRx accounted for 16% of Cardinal's revenue in fiscal 2023, with the majority being non-specialty bulk shipments. The company expects to offset the OptumRx impact through new customer wins and specialty growth, aiming for an average adjusted free cash flow of $2 billion from fiscal 2024 to 2026. CAH shares dropped 4.32% in premarket trading following the announcement.

Portfolio Pulse from Vandana Singh

April 22, 2024 | 1:10 pm

MNDR

Mobile-health Network Solutions (MNDR) anticipates a 100% increase in revenue to $6M for H12024 compared to $3M in H12023, driven by a 98.3% increase in monthly telemedicine services. The company attributes this growth to the rising demand for telemedicine in the Asia-Pacific region, particularly in Singapore, where the penetration rate is estimated at 15% in 2023. Co-CEO Dr. Rachel Teoh Pui Pui highlights the potential for continued growth in Singapore due to an aging population and plans for geographical expansion.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 1:10 pm

NWBI

Northwest Bancshares (NASDAQ:NWBI) reported Q1 earnings of $0.23 per share, meeting analyst estimates but marking an 11.54% decrease from last year. Sales were $103.24M, missing estimates by 1.71% and down 8.20% from the previous year.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 1:08 pm

DX

NUE

SAP

VZ

Numerous companies are scheduled to report their quarterly earnings on April 22, 2024, with expectations spanning from losses to significant profits across various sectors. Notable mentions include Verizon Communications, with projected earnings of $1.12 per share on $33.24 billion revenue, and SAP, expected to report earnings of $1.11 per share on $8.56 billion revenue. Other key reports include Dynex Cap forecasting a loss and Nucor anticipating earnings of $3.85 per share on $8.51 billion revenue.

Portfolio Pulse from Benzinga Insights

April 22, 2024 | 1:07 pm

FRGT

Freight Technologies, Inc. (FRGT) reported Q1 2024 revenue of $4.3M, a 30% increase over the previous year, with Fr8Fleet volume growing 25% sequentially over Q4 2023. The company is expanding its credit facility from $5M to $6M to support working capital and further development of its Fr8App platform. FRGT is forecasting 2024 annual revenue of $25M to $30M, driven by strong demand for domestic and cross-border freight services within the USMCA region.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 1:06 pm

DJD

FDL

VZ

Verizon Communications Inc (NYSE:VZ) reported its fiscal first-quarter 2024 results with a slight increase in sales to $32.98 billion, missing consensus estimates but beating adjusted EPS expectations. Wireless service revenue grew by 3.3%, driven by pricing actions and subscriber growth, despite postpaid phone net losses. Broadband and fixed wireless segments saw significant net additions, while Verizon Business revenues declined. The company's adjusted EBITDA increased, and it reiterated its FY24 outlook for wireless service revenue growth and adjusted EPS. Verizon's stock rose 2.17% in premarket trading, and exposure to Verizon stock can also be gained through Invesco Dow Jones Industrial Average Dividend ETF (NYSE:DJD) and First Trust Morningstar ETF (NYSE:FDL).

Portfolio Pulse from Anusuya Lahiri

April 22, 2024 | 1:01 pm

LVO

LiveOne projects its FY24 revenue to be $118.5 million, slightly above the estimated $118.106 million.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 12:57 pm

LVO

LiveOne reported its Q4 2024 revenue to be $30.3 million, slightly below the estimated $30.566 million.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 12:57 pm