Streetbeat News

Earnings

RBBN

Ribbon Communications Inc. (NASDAQ:RBBN) has rescheduled the reporting of its Q1 2024 financial results to before market opening on April 24, 2024. The company will also host a conference call at 8:30 a.m. ET on the same day to discuss the results. A live webcast and replay of the call will be available on the investor section of Ribbon Communications' website.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 1:08 pm

PWSC

Spruce Point Capital Management issued a strong sell opinion on PowerSchool Holdings (PWSC), citing potential violations of student data privacy laws, concerns over revenue quality, opaque financial reporting, and aggressive accounting practices. They predict a 30% to 60% downside risk to PWSC's share price due to these issues, compounded by the end of surplus COVID-19 stimulus spending and questionable management and board actions.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 1:07 pm

APP

CVS

FCX

XME

Joshua Brown highlighted AppLovin (APP) as the top-performing large-cap stock of the year, with its price target raised by Morgan Stanley. Stephanie Link recommended Freeport-McMoRan (FCX) due to China's recovery, supported by upgrades from BofA Securities and Scotiabank. Freeport-McMoRan is a major holding in the SPDR S&P Metals & Mining ETF (XME). Jim Lebenthal named CVS Health (CVS) ahead of its earnings report, with analysts expecting a decrease in earnings per share but an increase in revenue.

Portfolio Pulse from Avi Kapoor

April 17, 2024 | 1:06 pm

BA

STLA

TSLA

TTWO

A Boeing whistleblower has called for the global grounding of 787 Dreamliners due to fears of 'premature failure'. Meanwhile, Bitcoin's value is said to hinge on a key support level, with analysts suggesting that the current crypto cycle is far from over. In the US, investor optimism decreases, but Wall Street experts remain bullish, dismissing rate cut fears and Middle East tensions. Tesla's focus on autonomous driving and strong sales strategy is highlighted, alongside Take-Two Interactive's workforce reduction and Stellantis CEO's warning of a challenging year. Cathie Wood's Ark Invest continues to show confidence in Tesla, buying $3.3M worth of shares.

Portfolio Pulse from Akanksha Bakshi

April 17, 2024 | 1:05 pm

INTC

Intel Corporation (NASDAQ:INTC) is expected to report Q1 earnings with a significant improvement over the previous year, projecting earnings of 14 cents per share and revenue of $12.77 billion. The company plans to launch two AI chips for China, adhering to U.S. sanctions. Evercore ISI Group initiated coverage with an In-Line rating and a $40 price target. Intel's dividend yield stands at 1.38%, with calculations showing the investment needed to earn $500 or $100 monthly from dividends. The dividend yield's variability with stock price and payment changes is also highlighted.

Portfolio Pulse from Avi Kapoor

April 17, 2024 | 1:05 pm

PLBC

Plumas (NASDAQ:PLBC) reported Q1 2024 earnings of $1.05 per share, missing the consensus estimate of $1.19 by 11.76%.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 1:03 pm

FCCO

First Community (NASDAQ:FCCO) reported Q1 earnings of $0.34 per share, meeting consensus estimates but marking a 24.44% decrease from last year. Sales were $15.26M, exceeding estimates by 3.53% and showing a 2.20% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 1:03 pm

EFSH

1847 Holdings (AMEX:EFSH) reported a significant increase in Q4 sales, reaching $15.10 million, up 59.08% from $9.49 million in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 1:00 pm

LLY

Eli Lilly's tirzepatide, initially known for weight loss, has shown effectiveness in treating obstructive sleep apnea (OSA) in late-stage SURMOUNT-OSA phase 3 trials. The drug significantly reduced the apnea-hypopnea index (AHI) compared to placebo, meeting primary endpoints. It also led to substantial body weight reduction. Lilly plans to submit these findings to the FDA and other global regulatory bodies. Following this news, LLY shares rose 2.58% in premarket trading.

Portfolio Pulse from Vandana Singh

April 17, 2024 | 12:59 pm

MCHI

Chinese exporters at the Canton Fair are facing challenges despite China's 5.3% economic growth in Q1, including a decline in exports and producer prices. Increased economic and political tensions with the U.S., global trade slowdowns, and manufacturing overcapacity are key issues. Some sectors, like high-tech, remain optimistic due to government support. Trade tensions could worsen with potential U.S. tariffs and blacklisting of Chinese companies. The iShares MSCI China ETF (MCHI) saw a 1.02% dip.

Portfolio Pulse from Benzinga Neuro

April 17, 2024 | 12:58 pm