Streetbeat News

Earnings

BUD

STZ

Constellation Brands (NYSE:STZ) reported a strong fourth quarter, driven by its beer segment's growth, offsetting weakness in wine and spirits. Revenue reached $2.3 billion, with earnings per share at $2.26, both surpassing estimates. Modelo Especial became the top beer in U.S. dollar sales. Full-year net sales rose 5%, with net income up 12%. The company raised its full-year earnings and sales forecasts, expecting beer sales to grow by 10%. Anheuser Busch InBev SA (NYSE:BUD) saw a drop in North American beer sales but growth in non-alcoholic beer, reflecting a shift towards health-conscious consumer behavior.

Portfolio Pulse from Upwallstreet

April 15, 2024 | 1:52 pm

SAVE

Spirit Airlines Inc (NYSE:SAVE) updated its first-quarter FY24 revenue forecast to $1.265 billion, slightly below the consensus of $1.273 billion. The company anticipates first-quarter capital expenditures of about $30 million for its new headquarters and spare parts purchases. Spirit Airlines expects to end the quarter with $1.2 billion in unrestricted cash and equivalents, and a $300 million liquidity under its revolving credit facility. The adjusted operating margin is projected to be between (14.5)% and (13.5)%, with an agreement with International Aero Engines expected to boost liquidity by $150-$200 million for 2024. SAVE shares rose 8.6% to $4.54.

Portfolio Pulse from Shivani Kumaresan

April 15, 2024 | 1:47 pm

PFE

Financial analysis reveals a bearish sentiment in Pfizer's (NYSE:PFE) options market, with 90% of trades showing bearish tendencies. The analysis highlighted unusual trading activity, including 2 puts and 9 calls, targeting a price range of $22.5 to $40.0 for Pfizer. The largest trades observed include both bearish and bullish sentiments, with significant open interest and volume in options. Pfizer, a leading pharmaceutical company with annual sales close to $50 billion, has its stock price slightly down at $25.85, and its next earnings are expected in 16 days.

Portfolio Pulse from Benzinga Insights

April 15, 2024 | 1:46 pm

COST

Recent options trading activity for Costco Wholesale (NASDAQ:COST) shows a bearish sentiment among investors, with a higher percentage of bearish trades compared to bullish ones. The trading volume and open interest trends indicate a targeted price range from $370.0 to $1160.0 for Costco over the last 3 months. Current market data reveals COST's stock price is up by 0.51%, trading at $735.01, with potential overbought signals and an earnings announcement expected in 38 days. Market experts have issued ratings with a consensus target price of $776.0, varying from $680 to $820.

Portfolio Pulse from Benzinga Insights

April 15, 2024 | 1:46 pm

AMD

Advanced Micro Devices (NASDAQ:AMD) has seen a notable bearish sentiment in its options trading, with 61% of trades showing bearish tendencies compared to 38% bullish. The trading activity suggests investors are targeting a price range of $145.0 to $175.0 for AMD over the next three months. The analysis of options activity, including both calls and puts, indicates a mix of sentiments with significant trades aiming at various strike prices and expirations. AMD's current market status shows a slight decrease in stock price to $162.95, with an earnings announcement expected in 15 days. An analyst from Susquehanna maintains a Positive rating on AMD with a price target of $200.

Portfolio Pulse from Benzinga Insights

April 15, 2024 | 1:46 pm

AAPL

MSFT

NVDA

Wedbush analyst Dan Ives predicts a robust tech earnings season ahead, expecting tech stocks to rally 15% in 2024. He highlights Nvidia and Microsoft as leaders in the AI revolution, contributing to a projected $1 trillion spending over the next decade. Ives views the current market as a golden buying opportunity, especially in cybersecurity, AI, digital marketing, and advertising. He specifically notes Microsoft's integration of AI across its portfolio as a pivotal moment, akin to Apple's iPhone launch, and praises Apple's strong base for its AI future.

Portfolio Pulse from Rounak Jain

April 15, 2024 | 1:41 pm

GS

SPY

Goldman Sachs' CEO highlighted ongoing headwinds affecting the market, including inflation concerns, challenges in the commercial real estate sector, and rising geopolitical tensions. Despite market expectations of a soft landing, the future trajectory remains uncertain.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 1:40 pm

APG

APi Group Corporation (NYSE:APG) is set to acquire Elevated Facility Services Group for approximately $570 million in cash, aiming to expand its safety services market. The acquisition, expected to close in Q2 2024, is anticipated to add $220 million in annual revenue and be accretive to adjusted earnings per share. APi has revised its Q1 FY24 revenue outlook upwards and expects increased adjusted EBITDA and free cash flow. APG shares closed down 2.08% at $38.56.

Portfolio Pulse from Shivani Kumaresan

April 15, 2024 | 1:22 pm

DJT

Trump Media & Technology Group Corp (NASDAQ:DJT) shares fell after announcing the potential issuance of up to 21.49 million shares and the sale of up to 146.1 million shares by certain stockholders. The company reported a $58.19 million net loss for 2023, with revenues of $4.13 million and warned of continued losses in 2024. This follows the company's recent Nasdaq listing after merging with Digital World.

Portfolio Pulse from Adam Eckert

April 15, 2024 | 1:18 pm

NVFY

Nova Lifestyle reported a decrease in FY23 net sales to $11.09M from $12.74M in the previous year, indicating a year-over-year decline.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 1:18 pm