Streetbeat News

Earnings

ABT

EDBL

INVO

IZM

SBFM

TPET

VIAO

U.S. stocks saw gains with the Dow Jones rising by 200 points, driven by positive earnings reports from Abbott Laboratories (NYSE:ABT), which exceeded expectations. Abbott Laboratories reported first-quarter sales of $9.96 billion, a 10.8% increase on an organic basis, and adjusted EPS of 98 cents, surpassing analyst estimates. Other notable movements included significant surges in shares of INVO, EDBL, and VIAO, while IZM, SBFM, and TPET experienced sharp declines.

Portfolio Pulse from Avi Kapoor

April 17, 2024 | 2:07 pm

EDBL

Edible Garden shares are trading higher following the announcement of a year-over-year increase in preliminary Q1 revenues.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 2:03 pm

TWLO

Analyst ratings for Twilio (NYSE:TWLO) show varied sentiments, with recent evaluations and 12-month price targets indicating a slight increase in the average target to $70.12. The analysis includes actions taken by analysts from firms like Oppenheimer, JMP Securities, and Goldman Sachs, reflecting adjustments in ratings and price targets. Twilio's financial performance is highlighted, showing a revenue growth rate of 5.01% and challenges in net margin and profitability, despite a strong market capitalization and efficient asset management.

Portfolio Pulse from Benzinga Insights

April 17, 2024 | 2:00 pm

CFG

Citizens Financial Group's shares are trading higher after the company reported its Q1 earnings.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 2:00 pm

AMAT

ASML

LRCX

Semiconductor stocks are trading lower, potentially due to ASML's worse-than-expected Q1 financial results, affecting the sector's overall performance.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 1:59 pm

NKE

Nike shares are trading higher, following Adidas's positive earnings report, indicating a sympathetic market response among competitors in the athletic apparel and footwear industry.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 1:55 pm

AMZN

VCR

XLY

Amazon.com Inc (NASDAQ:AMZN) faces delays in its Northern Virginia HQ2 expansion, pushing its 25,000 job promise to 2038 amid a workforce reduction last year due to company-wide layoffs and a hiring slowdown. Despite these setbacks, Amazon continues to invest in the project, with 1,000 positions currently open and plans for AWS to expand data centers in Virginia by 2040. The delays could affect the financial incentives from Virginia, which are based on employment commitments. Amazon stock has gained over 78% in the last 12 months, with exposure through ETFs like SPDR Select Sector Fund – Consumer Discretionary (NYSE:XLY) and Vanguard Consumer Discretion ETF (NYSE:VCR).

Portfolio Pulse from Anusuya Lahiri

April 17, 2024 | 1:52 pm

UNH

UnitedHealth shares are trading higher due to continued strength after its Q1 earnings report. Piper Sandler increased its price target for the stock from $566 to $571.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 1:40 pm

AAPL

Phil Schiller, a top executive at Apple Inc. (NASDAQ:AAPL), testified in an Australian antitrust case, expressing uncertainty about the App Store's profitability. He revealed that Apple does not focus on financial metrics like ROI for the App Store and lacks written records of executive meetings, a practice dating back to Steve Jobs in 1997. This testimony is part of broader legal challenges and criticisms Apple faces regarding its App Store policies.

Portfolio Pulse from Rounak Jain

April 17, 2024 | 1:39 pm

PLBC

Plumas (NASDAQ:PLBC) reported Q1 2024 adjusted earnings per share (EPS) of $1.08, missing the consensus estimate of $1.19 by 9.24%. This represents a 15.62% decrease from the $1.28 EPS reported in the same quarter last year.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 1:33 pm