Streetbeat News

Earnings

JNJ

Johnson & Johnson (NYSE:JNJ) reported Q1 earnings with an adjusted EPS of $2.71, surpassing the consensus of $2.64, and sales of $21.38 billion, aligning closely with expectations. The company raised its quarterly dividend to $1.24 per share and updated its fiscal year 2024 sales and EPS guidance, slightly above prior forecasts. Despite the positive results, JNJ shares dropped 0.2%. Analysts from B of A Securities, RBC Capital, and Cantor Fitzgerald adjusted their price targets on JNJ following the earnings announcement.

Portfolio Pulse from Avi Kapoor

April 17, 2024 | 5:51 pm

EDBL

INVO

IZM

SBFM

TRV

Travelers Companies, Inc. (TRV) shares fell by 8.1% after reporting mixed Q1 earnings, missing the consensus forecast. Other stocks showed significant movement, with INVO Bioscience, Inc. (INVO) and Edible Garden AG (EDBL) among the top gainers, while ICZOOM Group Inc. (IZM) and Sunshine Biopharma, Inc. (SBFM) led the losers. The market saw a wide range of stock performance, influenced by earnings reports, strategic agreements, and analyst ratings.

Portfolio Pulse from Avi Kapoor

April 17, 2024 | 5:36 pm

NTRS

Northern Trust shares are trading higher, recovering from a decline experienced on Tuesday due to worse-than-expected Q1 financial results.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 5:31 pm

ADDDF

ADDYY

NKE

Adidas AG (OTC:ADDYY) (OTC:ADDDF) raised its 2024 profit outlook after a better than expected Q1, signaling recovery from its first annual loss in over 30 years and struggles in North America. CEO Bjorn Gulden's efforts, including inventory reduction, are showing positive signs. Meanwhile, Nike Inc (NYSE:NKE) faces challenges in innovation due to remote work but is implementing a restructuring plan to save $2 billion over three years.

Portfolio Pulse from Upwallstreet

April 17, 2024 | 5:31 pm

ALK

DAL

UAL

Alaska Air Group, Inc. (ALK) is set to report Q1 earnings with analysts expecting a revenue of $2.19 billion and a loss of $1.05 per share. The report will also address safety concerns with Boeing (BA) planes, the impact of a merger with Hawaiian Holdings (HA), and a recent system upgrade issue. Alaska Air previously anticipated a $150 million negative impact from grounding Boeing planes. The merger is under antitrust review, with a lawsuit filed alleging it could harm competition. Delta Air Lines (DAL) and United Airlines Holdings (UAL) reported better-than-expected results, potentially influencing ALK's performance.

Portfolio Pulse from Chris Katje

April 17, 2024 | 5:29 pm

DIA

IWM

QQQ

QQQM

SPY

Major stock indexes have declined due to underperformance in technology and freight sectors, influenced by recent earnings reports.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 5:16 pm

BAC

Bank Of America shares are trading higher after experiencing a decline on Tuesday due to the announcement of Q1 financial results.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 5:14 pm

KNX

Knight-Swift Transportation Holdings Inc (NYSE:KNX) shares fell after the company cut its Q1 and Q2 FY24 EPS forecasts due to challenges in the full truckload industry, oversupply, weather disruptions, and softer logistics volumes and margins. The revised Q1 EPS is now $0.11-$0.12, down from $0.37-$0.41, and Q2 EPS is adjusted to $0.26-$0.30 from $0.53-$0.57. The company will release Q3 2024 guidance on April 24, 2024.

Portfolio Pulse from Shivani Kumaresan

April 17, 2024 | 5:06 pm

In the latest quarter, 24 analysts provided mixed ratings for Zscaler (NASDAQ:ZS), with an updated average 12-month price target of $250.75, reflecting a 3.77% increase from the previous target. The ratings range from 'Buy' to 'Neutral', with adjustments made based on Zscaler's performance and market conditions. Zscaler, a cloud-native cybersecurity solutions provider, has shown a notable revenue growth rate of 35.45% as of January 31, 2024, but faces challenges in profitability and efficiency, as indicated by its net margin, ROE, and ROA.

Portfolio Pulse from Benzinga Insights

April 17, 2024 | 5:01 pm

TTWO

In the last three months, 11 analysts have updated their ratings on Take-Two Interactive (NASDAQ:TTWO), showing a shift towards a more bullish outlook. The average 12-month price target has increased to $190.55 from $171.43, indicating a positive sentiment shift. Analysts from firms like Wedbush, Citigroup, and Goldman Sachs have adjusted their price targets, reflecting changes in market conditions and company performance. Despite a recent decline in revenue and challenges in profitability, Take-Two's strong franchise portfolio and market capitalization highlight its significant position in the video game industry.

Portfolio Pulse from Benzinga Insights

April 17, 2024 | 5:01 pm