Streetbeat News

Earnings

HIFS

Hingham Institution for Savings (HIFS) reported a significant decrease in its Q1 adjusted earnings per share (EPS), dropping 61.3% to $1.01 from $2.61 year-over-year.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 8:02 pm

APLD

BLK

JPM

Nasdaq fell 300 points as U.S. stocks traded lower, with BlackRock posting upbeat earnings. Utilities and materials sectors saw declines, while specific companies like PaxMedica, EZGO Technologies, and NextPlat reported significant stock movements. Conversely, Motus GI Holdings, JPMorgan Chase, and Applied Digital Corporation experienced notable drops. The article also covers commodity prices, European and Asian market performances, and U.S. economic indicators.

Portfolio Pulse from Avi Kapoor

April 12, 2024 | 7:00 pm

EZGO

JPM

MOTS

PXMD

JPMorgan Chase & Co. shares fell by 5.1% despite beating first-quarter earnings and revenue expectations, with other stocks experiencing significant movements in Friday's mid-day session. Notable gainers include PaxMedica, EZGO Technologies, and Allarity Therapeutics, among others, with various reasons for their stock movements. Conversely, several companies faced declines, such as Motus GI Holdings, Lixiang Education, and Monogram Orthopaedics, each with specific challenges impacting their stock prices.

Portfolio Pulse from Avi Kapoor

April 12, 2024 | 6:47 pm

SHEL

Financial analysts have observed a bullish trend in Shell's (NYSE:SHEL) options market, with a majority of trades indicating optimism about the stock's future price. Analysis of 13 unusual trades shows a split sentiment, but with a lean towards bullishness. The options market predicts Shell's price to range between $67.5 and $82.5 in the next three months. Current trading volume and open interest trends support this outlook. Shell's stock is slightly up, with an RSI suggesting it may be overbought. Analysts from Piper Sandler and Scotiabank have set price targets at $76 and $95, respectively, indicating a positive outlook.

Portfolio Pulse from Benzinga Insights

April 12, 2024 | 6:47 pm

TRMB

Trimble (NASDAQ:TRMB) is set to change its financial reporting segments to 'Architects, Engineers, Construction and Owners' (AECO), 'Field Systems', and 'Transportation and Logistics' (T&L), starting from Q1 2024. This reorganization aims to align financial reporting with the company's structure and business models, covering software solutions for construction, hardware-centric businesses, and services for long haul trucking and freight shippers.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 6:31 pm

GS

Deep-pocketed investors have shown a bearish sentiment towards Goldman Sachs Gr (NYSE:GS), with unusual options activity detected. Benzinga's tracking revealed 27 significant options trades, with a bearish majority. The trades suggest a targeted price range for GS between $320.0 and $480.0. Recent analyst ratings offer mixed views, with a consensus target price of $431.0. GS's current trading volume is 1,600,689, with a price drop of -2.11%, and an earnings announcement expected in 3 days.

Portfolio Pulse from Benzinga Insights

April 12, 2024 | 6:31 pm

BAC

Bank of America Corp (NYSE:BAC) shares fell 1.3% amid broader financial sector declines following major U.S. banks' first-quarter earnings reports. Despite the sector exceeding earnings and revenue expectations, BAC's stock experienced a downturn. JPMorgan Chase & Co. notably surpassed expectations with significant earnings and revenue. Bank of America pays a dividend yielding 3.1% annually and has a 52-week trading range between $38.35 and $24.96.

Portfolio Pulse from Henry Khederian

April 12, 2024 | 6:29 pm

JPM

JPMorgan Chase reported its Q1 2024 earnings with a GAAP EPS of $4.44, surpassing expectations. The company's sales reached $42.548 billion, beating the estimated $41.836 billion.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 6:25 pm

SPY

Ryan Detrick, chief market strategist at Carson Group, downplayed concerns about the impact of March's higher-than-expected CPI report on the stock market. He criticized the government's method of calculating shelter costs within CPI and noted that despite the CPI shock, the Producer Price Index (PPI) did not raise concerns. Detrick also mentioned that the Federal Reserve's less likely action to cut interest rates three times this year reflects a strong economy, which is positive for stocks. He highlighted the SPDR S&P 500 Index's (SPY) 10% gain in Q1, suggesting that early strength often correlates with continued performance throughout the year.

Portfolio Pulse from Aaron Bry

April 12, 2024 | 6:20 pm

ABBV

AbbVie Inc (NYSE:ABBV) released interim results from a Phase 3 study on atogepant for migraine prevention, showing improved outcomes and consistent safety profiles. Despite positive data, ABBV shares dropped 2.75% to $162.92, with trading volume lower than average. The company also raised its revenue outlook for Ubrelvy and Qulipta, expecting over $3 billion in peak revenues, up from previous estimates.

Portfolio Pulse from Vandana Singh

April 12, 2024 | 6:19 pm