Streetbeat News

Earnings

ABT

Abbott Laboratories (ABT) reported Q1 2024 adjusted EPS of $0.98, surpassing the $0.95 estimate, and sales of $9.964B, exceeding the $9.880B estimate. This represents a 4.85% decrease in EPS and a 2.23% increase in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 11:32 am

OMC

Omnicom Group Inc. (NYSE:OMC) shares rose in premarket trading after reporting first-quarter FY24 results with a 5.4% Y/Y revenue increase to $3.63 billion, surpassing the consensus of $3.615 billion. This growth was attributed to organic growth of 4.0%, acquisition revenue increase by 1.5% led by Flywheel Digital, and a negligible impact from foreign currency translation. Adjusted EBITA increased by 4.1% Y/Y to $500.4 million, though the margin slightly decreased. Adjusted EPS of $1.67 beat the consensus of $1.55. The company's performance was bolstered by strong advertising, media, and precision marketing disciplines, including contributions from Flywheel Digital.

Portfolio Pulse from Lekha Gupta

April 17, 2024 | 11:22 am

TSLA

Financial expert Gary Black discussed the uncertain future of Tesla Inc. (NASDAQ:TSLA) stock ahead of its earnings call, emphasizing the impact of CEO Elon Musk's presentation of the timeline for Tesla's $25K compact vehicle. This vehicle is expected to significantly contribute to Tesla's volume as it targets the mass market. Black predicts production to start in 2026, despite Tesla's focus on the robotaxi project. Amidst this, Tesla shares have fallen, but Ark Invest, led by Cathie Wood, has purchased additional shares.

Portfolio Pulse from Benzinga Neuro

April 17, 2024 | 11:17 am

SUN

Sunoco has reaffirmed its adjusted EBITDA forecast for fiscal year 2024, maintaining its projection in the range of $975 million to $1 billion. This announcement underscores the company's confidence in its financial outlook and operational stability.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 11:12 am

OMC

Omnicom Group's shares surged following the announcement of their Q1 financial results, which exceeded market expectations.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 11:11 am

ADSK

Autodesk's shares dropped following the announcement that it will miss the deadline to file its Annual Report on Form 10-K for the fiscal year ended January 31, 2024. This delay is due to an ongoing internal investigation by the Audit Committee.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 11:10 am

AAL

DAL

JBLU

UAL

Airline stocks are trading higher following United's report of better-than-expected Q1 earnings, indicating a positive outlook for the sector.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 11:10 am

UAL

United Airlines shares surged following the announcement of their Q1 financial results, which exceeded market expectations.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 11:10 am

JBHT

J.B. Hunt Transport Services' shares dropped following a miss in Q1 revenue and EPS estimates, indicating potential concerns over its financial performance.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 11:09 am

JBHT

QQQ

SPY

UAL

Wall Street is expected to rebound from its April slump, with optimism around earnings season seen as a potential catalyst. Futures for major indices, including the S&P 500 and Nasdaq, are up in premarket trading. Federal Reserve Chair Jerome Powell's recent speech has led to adjusted expectations around interest rates, impacting bond yields. Companies like UnitedHealth Group reported positive earnings, while others like J.B. Hunt and United Airlines saw significant premarket stock movements following their earnings announcements. Upcoming economic data and earnings reports from companies such as Abbott Laboratories and CSX Corp are also in focus.

Portfolio Pulse from Shanthi Rexaline

April 17, 2024 | 11:09 am