Streetbeat News

Earnings

NSANY

Nissan Motor Co Ltd has revised its annual profit outlook downwards by 14.5%, reducing its operating profit forecast from 620 billion yen to 530 billion yen for the fiscal year ending March 31, 2024. The company also adjusted its annual revenue expectation to 12.6 trillion yen from 13 trillion yen and lowered its sales volume forecast to 3.44 million units from 3.55 million units. This revision follows a decrease in sales volume and various cost reliefs made to suppliers. Additionally, Nissan plans to introduce 30 new models by fiscal 2026, including 16 electric vehicles, aiming to boost sales and reduce the cost of EVs by 30% by 2030. Nissan shares dropped by 3.86% to $7.11 following the announcement.

Portfolio Pulse from Shivani Kumaresan

April 19, 2024 | 4:51 pm

PEP

Deep-pocketed investors have shown a bearish sentiment towards PepsiCo (NASDAQ:PEP), with a significant move in options trading detected by Benzinga. The activity includes both puts and calls with a price target range from $155.0 to $195.0. The trading volume and open interest in PepsiCo options have been notably high, with a mix of bullish and bearish sentiments among investors. PepsiCo's current market status shows a slight increase in stock price to $172.59, with an earnings announcement expected in 4 days.

Portfolio Pulse from Benzinga Insights

April 19, 2024 | 4:46 pm

QCOM

Recent options trading trends indicate a bearish stance on Qualcomm (NASDAQ:QCOM) by significant investors, with a split sentiment of 39% bullish and 60% bearish. Uncommon options trades were spotted, including 7 puts and 62 calls, aiming for a price range of $115 to $210 over the next three months. The largest trades observed were mainly calls with varying sentiments. Qualcomm's current market position shows a 2.31% decrease in stock price to $157.71, with an upcoming earnings report in 12 days. Analyst ratings in the last 30 days have set an average price target of $194.25 for Qualcomm.

Portfolio Pulse from Benzinga Insights

April 19, 2024 | 4:45 pm

ARKK

ARKW

ROKU

Benchmark analyst Daniel Kurnos and Wedbush analyst Michael Pachter have updated their forecasts for Roku Inc (NASDAQ:ROKU), with Kurnos maintaining a Buy rating and a $115 price target, and Pachter maintaining an Outperform rating but lowering his price target from $120 to $80. Both analysts adjusted their revenue and EPS projections for upcoming quarters, citing various factors including competition fears, market share gains, and the shift of ad dollars from linear to digital-connected TV. Roku's stock has plunged over 35% year-to-date, but it is included in the ARK Next Generation Internet ETF (NYSE:ARKW) and ARK Innovation ETF (NYSE:ARKK).

Portfolio Pulse from Anusuya Lahiri

April 19, 2024 | 4:40 pm

WAL

Western Alliance shares are trading higher following better-than-expected Q1 financial results.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 4:40 pm

VFS

VinFast Auto Ltd. (NASDAQ:VFS) shares dropped after announcing a partnership with Mobivia to expand aftersales service in Europe, despite a 444% increase in EV deliveries year over year. Analysts at Cantor Fitzgerald lowered their price forecast for VFS to $8 from $9, citing a slump in EV demand. They also reduced FY24 revenue estimates to $2.4 billion from $2.6 billion and adjusted FY24 gross margin projections. The company continues to expand its dealership network globally.

Portfolio Pulse from Nabaparna Bhattacharya

April 19, 2024 | 4:31 pm

COIN

GIII

GLD

ORIC

TDG

Benzinga's Stock Whisper Index highlights five stocks: Coinbase Global, Oric Pharmaceuticals, SPDR Gold Trust, G-III Apparel Group, and Transdigm Group. These stocks are under the radar but have shown significant activity or developments. Coinbase saw a pullback amid Bitcoin volatility, Oric Pharmaceuticals progresses in a cancer trial, SPDR Gold Trust gains on gold's rise, G-III Apparel reports a sales miss, and Transdigm gets analyst attention with raised price targets.

Portfolio Pulse from Chris Katje

April 19, 2024 | 4:28 pm

META

NFLX

NVDA

QQQ

SPY

The S&P and Nasdaq indices are down, influenced by declines in NVIDIA, Meta, and Netflix, with the latter's drop attributed to its earnings report. Market volatility is also being fueled by geopolitical tensions between Israel and Iran.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 4:23 pm

WULF

TeraWulf (WULF) saw a significant options activity with a sweep of 3000 Aug 16 $5.5 calls at $0.25, compared to an open interest of 11299. This activity comes ahead of their estimated earnings report on May 13, before the market opens, with the stock reference price at $2.27.

Portfolio Pulse from Charles Gross

April 19, 2024 | 4:09 pm

META

BofA Securities analyst Justin Post reiterated a Buy rating on Meta Platforms Inc (NASDAQ:META) with a price target of $550, citing underappreciated AI assets and potential for revenue momentum in 2024. Post adjusted his revenue and EPS estimates for Q1 and Q2 based on positive ad checks, Easter benefits, and recent U.S. dollar depreciation. He highlighted Meta's strong AI capabilities, including an internal AI supercomputer and custom AI chips, as key drivers for future growth.

Portfolio Pulse from Anusuya Lahiri

April 19, 2024 | 4:05 pm