Streetbeat News

Earnings

TSLA

Tesla, Inc. (TSLA) has experienced a decline in stock price following each of the past four earnings reports, with drops ranging from -9.30% to -12.12%. The declines were attributed to various factors including year-over-year revenue and EPS declines, price cuts, falling margins, and Cybertruck launch uncertainty. Barclays analyst Dan Levy lowered Tesla's price target from $225 to $180, citing expected soft margins and a potential first-quarter miss. Fund manager Gary Black suggests Tesla management should focus on explaining future improvements rather than making grand promises.

Portfolio Pulse from Shanthi Rexaline

April 18, 2024 | 6:52 am

MMC

Marsh & McLennan Companies, Inc. (NYSE:MMC) is anticipated to report higher Q1 earnings with an expected EPS of $2.80, up from $2.53 year-over-year, and revenue of $6.39 billion, up from $5.92 billion. The company declared a quarterly dividend of 71 cents per share, payable on May 15, 2024. Shares rose 0.7% to close at $197.62 recently. Analysts have adjusted their ratings, with Piper Sandler and Wells Fargo downgrading the stock, while Evercore ISI Group and others have adjusted their price targets.

Portfolio Pulse from Avi Kapoor

April 18, 2024 | 6:45 am

TSM

Taiwan Semiconductor Manufacturing Company (NYSE:TSM) surpassed Q1 2024 expectations with a 16.5% revenue increase year-over-year, reaching $18.87 billion, and an 8.9% rise in net income to $6.97 billion. Despite a slight decline from Q4 2023, TSMC's advanced technologies, especially in 3nm, 5nm, and 7nm processes, drove its success, indicating strong demand for AI chips and a positive outlook for the semiconductor industry.

Portfolio Pulse from Benzinga Neuro

April 18, 2024 | 6:31 am

NOK

Nokia reported its Q1 adjusted earnings per share (EPS) increased to €0.09 from €0.06 year-over-year (YoY), while sales decreased to €4.667 billion from €5.859 billion YoY.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 6:24 am

RIVN

Rivian Automotive (NASDAQ:RIVN) is cutting another 1% of its workforce, following Tesla's recent layoffs, as part of its efforts to achieve profitability by the end of the year. The cuts will likely affect support and back-office workers. Despite increasing vehicle deliveries, Rivian continues to face losses and aims for profitability by Q4 2024. Rivian's stock saw a slight increase on Wednesday but dropped in after-hours trading.

Portfolio Pulse from Anan Ashraf

April 18, 2024 | 6:16 am

TSM

Taiwan Semiconductor (NYSE:TSM) reported Q1 2024 earnings of $1.38 per share, surpassing the $1.32 estimate, with sales of $18.873B also beating the $18.395B estimate, marking a 12.88% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 6:07 am

ADXN

Addex Therapeutics reported an improvement in FY23 EPS to CHF (0.14) from CHF (0.46) year-over-year, with income rising to CHF 1.65M from CHF 1.45M. The company expects top-line data from its ADX71149 Phase 2 epilepsy study by mid-May 2024. It also launched Neurosterix in collaboration with Perceptive Advisors, raising USD 63 million in Series A funding to boost its preclinical portfolio. Addex received CHF 5 million upfront and 20% equity in Neurosterix, extending its cash runway beyond 2026.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 6:03 am

BA

U.S. Senator Ron Johnson emphasized the importance of Boeing Co.'s success and safety in aviation following a whistleblower's revelations about the 787 Dreamliners. The aerospace giant faces challenges as it prepares for its Q1 earnings report and the appointment of a new CEO, amidst a 32% stock decline year-to-date. Boeing's potential deal with NASA and the Starliner project may offset its airplane segment's weaknesses.

Portfolio Pulse from Benzinga Neuro

April 18, 2024 | 5:57 am

AA

ARM

BABA

TSLA

TSM

U.S. stocks closed lower with Taiwan Semiconductor, ARM Holdings, Alcoa, Alibaba, and Tesla being key stocks on investors' radars. Taiwan Semiconductor and ARM Holdings traded lower due to poor results from ASML Holding. Alcoa reported a quarterly loss but beat revenue estimates. Alibaba introduced its Logistics Marketplace, slightly impacting its shares, while Tesla removed inventory discounts, affecting its stock.

Portfolio Pulse from Benzinga Neuro

April 18, 2024 | 1:22 am

GSBC

Great Southern Bancorp (GSBC) reported Q1 2024 earnings of $1.13 per share, surpassing the $1.04 estimate. However, their sales of $44.816M fell short of the $47.515M estimate, marking a 15.75% decrease from the previous year.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 10:14 pm