Streetbeat News

Earnings

ISTR

Investar Holding (NASDAQ:ISTR) reported Q1 adjusted EPS of $0.43, surpassing the $0.24 estimate, with sales of $19.96M also beating the $18.90M estimate. However, this represents a 15.69% decrease in earnings and a 6.05% decrease in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 9:51 am

MSFT

Piper Sandler analyst Brent Bracelin reiterated an Overweight rating and a $455 price target for Microsoft Corp. (NASDAQ:MSFT), ahead of its fiscal third-quarter earnings. Bracelin is bullish on Microsoft, citing its potential in AI and expects Azure's revenue growth rate to approach 30%, with an annualized revenue run rate potentially hitting $76 billion. Despite high capex and finance lease costs, the analyst sees robust capex as necessary for AI and cloud adoption. The analyst is neutral on M365 Copilot but expects healthy contract momentum. Microsoft's AI sales, currently at 2%, could grow to 10%+ within 3-5 years.

Portfolio Pulse from Shanthi Rexaline

April 22, 2024 | 8:41 am

BRO

Brown & Brown, Inc. (NYSE:BRO) is anticipated to report higher Q1 earnings with an expected EPS of $1.05, up from 84 cents year-over-year, and revenue of $1.22 billion, up from $1.07 billion. The company has recently acquired CHAPP and Citrus Insurance assets. Shares rose 1.3% to $82.17 recently. Analysts from Citigroup, Wells Fargo, Keefe, Bruyette & Woods, Raymond James, and Truist Securities have updated their ratings and price targets for BRO, reflecting optimism about its financial performance.

Portfolio Pulse from Avi Kapoor

April 22, 2024 | 7:32 am

ERJ

Embraer reported a 67% year-over-year increase in Q1 deliveries, with its backlog volume reaching $21.1 billion, up 13% from the previous quarter. American Airlines placed a firm order for 90 E175 jets, contributing to a 26% quarter-over-quarter increase in the Commercial Aviation backlog, which rose by $2.3 billion. Additionally, Embraer's Executive Aviation deliveries in Q1 were the highest in the last eight years.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 7:25 am

ACI

NFLX

NUE

PARA

ZION

Investor sentiment declined further, with the S&P 500 falling for a sixth consecutive day, marking its worst weekly performance since March 2023. The Dow Jones, however, saw a slight increase. Netflix shares dropped over 9% following Q1 results, while Paramount Global shares surged 13% amid acquisition talks. The Fear & Greed Index remained in the 'Fear' zone. Upcoming earnings from Zions Bancorporation, Nucor Corporation, and Albertsons Companies are anticipated.

Portfolio Pulse from Avi Kapoor

April 22, 2024 | 7:00 am

ACI

BCBP

NUE

SMAR

ZION

U.S. stock futures are trading higher, with focus on Albertsons Companies, Inc., Smartsheet Inc., Nucor Corporation, BCB Bancorp, Inc., and Zions Bancorporation due to earnings reports and a share repurchase program. Albertsons is expected to report earnings of 52 cents per share, Smartsheet announced a $150 million share repurchase, Nucor's earnings are anticipated at $3.65 per share, BCB Bancorp reported lower-than-expected earnings, and Zions Bancorporation's earnings are expected at 98 cents per share.

Portfolio Pulse from Avi Kapoor

April 22, 2024 | 6:25 am

Quanex Building Products has announced its agreement to acquire Tyman for $1.1 billion, aiming to enhance its building products offerings. This acquisition is part of Quanex's 'BIGGER' strategic roadmap, expected to expand its product range with Tyman's complementary portfolio. The deal is anticipated to significantly increase Quanex's scale and global presence, positioning the combined entity for profitable growth and value creation. It is also expected to be materially accretive to EPS in the first fiscal year following the close, with around $30 million in annual run-rate cost synergies.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 6:24 am

ALB

ANET

ARM

ASML

BRKR

COIN

EFX

JBHT

LYV

MSTR

PLD

TSLA

Last week saw significant declines in several large-cap stocks, with Arm Holdings plc and ASML Holding N.V. leading the downturn due to poor quarterly results and downgrades. Other notable declines were seen in MicroStrategy Inc, Coinbase Global Inc, Prologis, Inc., Tesla Inc, Equifax Inc., Bruker Corp, Live Nation Entertainment, Inc., Arista Networks Inc., J.B. Hunt Transport Services, Inc., and Albemarle Corp, attributed to various factors including market volatility, poor earnings, and regulatory concerns.

Portfolio Pulse from Mohit Manghnani

April 22, 2024 | 12:32 am

BSY

ELV

GPC

PGR

UAL

UNH

Last week saw significant gains for seven large-cap stocks, with United Airlines leading at a 21.79% surge after surpassing Q1 earnings expectations. UnitedHealth, Genuine Parts, Bentley Systems, Elevance Health, Progressive Corp, and Morgan Stanley also reported strong performances due to various positive financial results and strategic moves.

Portfolio Pulse from Lekha Gupta

April 21, 2024 | 10:14 pm

TSLA

Tesla, Inc. (NASDAQ:TSLA) implemented global price cuts for its electric vehicles, prompting criticism from Future Fund's co-founder, Gary Black, who regrets not selling the firm's entire Tesla position. Black criticized the price cuts' effectiveness, Tesla's strategy, and the unrealistic expectations of Tesla bulls. He adjusted his Tesla earnings estimate and price target downwards due to the price cuts, estimating a significant annual revenue and earnings per share impact. Tesla's stock price fell to its lowest level since late-January 2023.

Portfolio Pulse from Shanthi Rexaline

April 21, 2024 | 10:10 pm