Streetbeat News

Earnings

OCUL

Ocular Therapeutix Inc (NASDAQ:OCUL) announced positive Phase 1 results for Axpaxli in treating non-proliferative diabetic retinopathy without DME, showing significant improvement in DRSS scores compared to the control group. The company plans to proceed to Phase 3 trials, pending FDA discussions. Additionally, earlier Phase 2 results for Paxtrava in treating glaucoma showed sustained IOP reductions. Despite these developments, OCUL shares dropped 15.40% to $6.42.

Portfolio Pulse from Vandana Singh

April 18, 2024 | 5:37 pm

HUBS

Significant options trading activity has been observed in HubSpot (NYSE:HUBS), indicating a mixed sentiment among big-money investors, with a lean towards bullishness. The trading volume and open interest suggest a focus on a price range between $580 and $850. Recent analyst ratings on HUBS show a varied perspective, with price targets ranging from $520 to $750. The company's stock has recently seen a 2.57% increase, with an upcoming earnings announcement. Options trading, while riskier, offers high profit potential for educated investors.

Portfolio Pulse from Benzinga Insights

April 18, 2024 | 5:31 pm

CEG

Smart money investors have shown a significant interest in Constellation Energy (NASDAQ:CEG) options, with a bearish stance overall. Benzinga's options scanner revealed 8 unusual trades, indicating a mixed sentiment but leaning towards bearish with 62% bearish and 37% bullish trades. The trades suggest a target price range of $180 to $195 for CEG in the next three months. The largest trades include both calls and puts, with a notable bearish call at a strike price of $195 expiring on 01/17/25 and a bearish put at $180 expiring on 05/17/24. Constellation Energy, an energy solutions provider, has seen its stock price increase by 0.45% to $186.24, with an upcoming earnings report in 21 days. Analysts have a consensus target price of approximately $194.67 for CEG, with ratings from Morgan Stanley and Evercore ISI Group indicating a positive outlook.

Portfolio Pulse from Benzinga Insights

April 18, 2024 | 5:16 pm

GILD

Deep-pocketed investors show a divided sentiment on Gilead Sciences (NASDAQ:GILD), with options activity suggesting a bullish and bearish split. Significant options trades indicate a target price range of $65.0 to $75.0. Gilead's stock is currently down by -1.33%, with an RSI suggesting it may be oversold. An analyst from UBS maintains a Neutral rating with a target price of $75. The company's next earnings report is due in 7 days.

Portfolio Pulse from Benzinga Insights

April 18, 2024 | 5:16 pm

FXI

LRLCY

L'Oreal's CEO reported that luxury make-up sales are growing in double digits, while luxury skincare is impacted by a slow rebound in China. The mass market in China saw more acceleration in Q1 compared to the U.S., with a slowdown in luxury segments.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 5:11 pm

LGCOF

SSNLF

Samsung Group is implementing a six-day workweek for executives across all units to address business uncertainties, including currency depreciation, rising oil prices, and high borrowing costs, following disappointing results in 2023. This includes executives from Samsung Electronics Co. Ltd (OTC:SSNLF), which reported a significant operating loss in its semiconductor business. The move is part of a broader trend among South Korean conglomerates to navigate industry downturns and geopolitical risks.

Portfolio Pulse from Franca Quarneti

April 18, 2024 | 5:11 pm

DIA

IWM

JETS

QQQ

SPY

TSLA

Stocks rose on Thursday, with the S&P 500 aiming to end a losing streak, driven by corporate earnings. The iShares Russell 2000 ETF and U.S. Global Jets ETF saw gains, while Tesla dropped after a Deutsche Bank downgrade. The Philadelphia Fed Manufacturing Index beat expectations, but existing home sales fell. Commodities and Bitcoin rallied. Key ETFs like SPDR S&P 500, Dow Jones, and Invesco QQQ Trust posted gains, with notable stock movements in Discovery Financial Services, Capital One, and others ahead of earnings.

Portfolio Pulse from Piero Cingari

April 18, 2024 | 5:11 pm

GOOG

GOOGL

Google's CEO Sundar Pichai announced plans to share more about the company's progress in artificial intelligence (AI) during its upcoming earnings call. This move highlights the increasing importance of AI in Google's strategy and operations.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 4:53 pm

AHOY

BMI

PSCT

Badger Meter, Inc (NYSE:BMI) reported a 23% year-on-year sales growth for Q1 2024, reaching $196.3 million and surpassing the consensus of $182.3 million. EPS was $0.99, beating the consensus of $0.82. Utility water sales rose by 29%, driven by customer adoption of its smart water solutions. However, flow instrumentation product sales dropped by 3%. Despite a slight decrease in gross margin to 39.3%, operating margin improved significantly to 18.6%. The company's cash position was strong at $199.3 million, with $21.5 million generated in operating cash flow. BMI stock has seen over a 46% increase in the last 12 months and is up 15.8% to $177.24. Investors can also gain exposure to BMI through Tidal ETF Trust Newday Ocean Health ETF (NYSE:AHOY) and Invesco S&P SmallCap Information Technology ETF (NASDAQ:PSCT).

Portfolio Pulse from Anusuya Lahiri

April 18, 2024 | 4:52 pm

KMI

Kinder Morgan's stock (KMI) is trading higher after the company reported its financial results for the first quarter.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 4:52 pm