Streetbeat News

Earnings

ETHUSD

Ethereum (ETHUSD) is trading lower due to a drop in the crypto market, influenced by mixed inflation data and bank earnings.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 6:00 pm

BEN

BX

KKR

NYCB

RILY

Shares of companies in the financial services sector are down after mixed bank earnings were reported.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 5:58 pm

MSFT

BMO Capital Markets analyst Keith Bachman reiterated an Outperform rating on Microsoft Corporation (NASDAQ:MSFT), raising the price target to $465 from $455, citing durable growth in gaming and potential in AI. Despite gaming's inherent volatility, Microsoft's position in the market, especially with Activision Blizzard's titles, supports above-market growth rates in gaming revenues. However, the FY25 Gaming revenue growth estimate was lowered to 10% from 13%, while the FY25 Windows revenue growth estimate was raised to 7%. MSFT shares dropped 1.59% to $420.98.

Portfolio Pulse from Nabaparna Bhattacharya

April 12, 2024 | 5:51 pm

NFLX

OND

SOCL

SPOT

Keybanc analyst Justin Patterson maintained Spotify Technology SA (NYSE:SPOT) with an Overweight rating and raised the price target from $300 to $350, anticipating a surge in subscriber base and revenue per user. Patterson expects Spotify's 2024 revenue to be €15.4 billion and 2025 revenue to be €18.0 billion, with a slight increase in ARPU growth. He introduced a 2026 revenue forecast of €20.6 billion with an operating profit of €2.2 billion. The price target increase reflects higher revenue and profitability forecasts, with comparisons made to Netflix Inc's (NASDAQ:NFLX) EV/S multiple expansion. Spotify's stock has gained 130% in the last 12 months, and investors can also gain exposure through Global X Social Media ETF (NASDAQ:SOCL) and ProShares On-Demand ETF (NYSE:OND).

Portfolio Pulse from Anusuya Lahiri

April 12, 2024 | 5:32 pm

DHR

Deep-pocketed investors are showing a bearish sentiment towards Danaher (NYSE:DHR), with a significant move in options trading. Benzinga's tracking revealed 9 extraordinary options activities, with a majority being puts. The trading focuses on a price band between $230.0 and $247.5. Despite this, an analyst from Barclays maintains an Equal-Weight rating on DHR, with a target price of $260. The company's stock is currently down by -0.87%, with an earnings announcement expected in 11 days.

Portfolio Pulse from Benzinga Insights

April 12, 2024 | 5:32 pm

VZ

Recent analysis of Verizon Communications (NYSE:VZ) options activity reveals a split sentiment among big-money investors, with an equal number of bullish and bearish trades. The activity, involving both puts and calls, suggests expectations for VZ's stock price to fluctuate between $33.0 and $40.5. Despite this, the stock's current performance is slightly down, with neutral RSI indicators and upcoming earnings expected in 10 days. Market experts have varying opinions on VZ, with target prices ranging from $39 to $48.

Portfolio Pulse from Benzinga Insights

April 12, 2024 | 5:31 pm

SLGWF

SLANG Worldwide Inc. (OTCQB:SLGWF) reported a 56% YoY decrease in Q4 total comprehensive loss and a 37% decrease in Q4 revenue. FY 2023 saw a 7% revenue decrease but a 34% decrease in total comprehensive loss. The company highlighted a strategic focus on profitable growth, resulting in higher margins and lower operating expenses. SLANG's shares dropped 5.8824% to $0.028 per share following the announcement.

Portfolio Pulse from Jelena Martinovic

April 12, 2024 | 5:31 pm

BLK

BlackRock, Inc. (NYSE:BLK) reported Q1 revenue growth of 11% year over year to $4.728 billion, beating consensus but saw shares trading lower due to concerns over fee rate dynamics. Management fees missed consensus by 1%, with equity fee rates and Alts fee rate declining. iShares drove $55 billion of flows, and despite mixed results, future growth is anticipated with significant mandates in wealth, institutional, and Aladdin sectors.

Portfolio Pulse from Nabaparna Bhattacharya

April 12, 2024 | 5:27 pm

X

United States Steel (NYSE:X) has seen a surge in options activity, with a mix of bullish and bearish sentiments among investors. Analysis of recent trades shows a bearish majority, with significant activity in both puts and calls within a price window of $35.0 to $45.0. The company operates in the steel industry with a presence in the United States and Slovakia, serving various markets. The stock price is currently down by -2.32%, trading at $41.25, with an upcoming earnings report in 13 days. The options activity suggests investors are actively speculating on the stock's future price movements.

Portfolio Pulse from Benzinga Insights

April 12, 2024 | 5:17 pm

ECL

Mizuho analyst John Roberts upgraded Ecolab Inc (NYSE:ECL) from Neutral to Buy and increased the price target from $216 to $260, citing the company's return to its historical pattern of consistently meeting or exceeding quarterly consensus estimates. The upgrade reflects confidence in Ecolab's recovery post-pandemic and its strong ESG model, which is expected to drive growth in cleaning chemical demand due to more consistent return-to-office trends and recovery in Asia tourism. The analyst maintains EPS estimates for 2024/2025/2026 and highlights Ecolab's investment in digitization and AI for future growth.

Portfolio Pulse from Shivani Kumaresan

April 12, 2024 | 5:15 pm