Streetbeat News

Earnings

Morgan Stanley reported a 16% year-over-year increase in Q1 investment banking revenues, a 4% increase in equity net revenues, and a 4% decrease in fixed income net revenues.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 11:32 am

Morgan Stanley reported Q1 2024 earnings of $2.02 per share, surpassing the $1.68 estimate, with sales of $15.136B also beating the $14.337B forecast. This represents a 4.26% increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 11:31 am

QQQ

SPY

TSLA

UNH

Wall Street anticipates a mixed open due to Middle-East tensions and rising bond yields, despite earnings optimism. UnitedHealth Group's earnings led to a rise in health benefit stocks, while tech stocks showed premarket weakness. The SPDR S&P 500 ETF Trust and Invesco QQQ ETF saw minor adjustments in premarket trading. Analysts suggest a potential reversal in sentiment, citing historical patterns of recovery post-streaks of declines. Upcoming economic data and Federal Reserve officials' speeches are in focus, alongside earnings reports from major companies.

Portfolio Pulse from Shanthi Rexaline

April 16, 2024 | 11:24 am

AUID

CRMT

WBA

Insiders at Walgreens Boots Alliance, authID Inc., and America's Car-Mart have recently made significant stock purchases, indicating their confidence in the companies' prospects. Walgreens reported better than expected Q2 earnings and tightened FY24 guidance, authID posted a narrower FY23 loss, and America's Car-Mart received a lowered price target from B of A Securities.

Portfolio Pulse from Avi Kapoor

April 16, 2024 | 11:19 am

NTRS

Northern Trust (NASDAQ:NTRS) reported Q1 earnings of $0.96 per share, missing the $1.44 estimate, and sales of $1.65B, missing the $1.75B estimate. This represents a 36.42% decrease in earnings and a 5.21% decrease in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 11:19 am

ACES

QCLN

RIVN

TSLA

Rivian Automotive, Inc. (NASDAQ:RIVN) shares are trading lower in the premarket session after a significant 8% drop in the previous session, influenced by news of Tesla, Inc. (NASDAQ:TSLA) considering workforce reductions. Rivian's stock has declined over 38% in the past year but remains accessible through ETFs like ALPS Clean Energy ETF (NYSE:ACES) and First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:QCLN). Rivian is preparing to announce its Q1 financial results and has reaffirmed its annual production guidance of 57,000 vehicles, focusing on cost efficiency for fiscal 2024.

Portfolio Pulse from Nabaparna Bhattacharya

April 16, 2024 | 11:18 am

CNC

CVS

HUM

UNH

Healthcare stocks are trading higher following UnitedHealth's report of better-than-expected Q1 earnings, positively impacting related stocks.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 11:17 am

MAIN

Main Street announced its Q1 Net Investment Income (NII) is expected to be between $1.04 and $1.06 per share, with Distributable Net Investment Income (DNII) projected to be between $1.10 and $1.12 per share.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 11:13 am

MICS

The Singing Machine Company (MICS) reported a decrease in net sales to $29.2M from $35.9M and an increase in net loss to $6.4M from $1.7M year-over-year for the nine-month transition period ended December 31, 2023.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 11:13 am

NBIX

VYGR

Voyager Therapeutics is set to receive a $3M milestone payment in Q2 of 2024, triggered by the selection of a development candidate.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 11:12 am