Streetbeat News

Earnings

GRAM

Gold Flora Corporation (OTC:GRAM), a woman-owned business in the California cannabis market, reported a strategic shift leading to an 11% revenue drop to $28.4 million in Q4 2023 but saw an increase in adjusted gross profit by 11.60% to $18.7 million and a positive adjusted EBITDA of $105,000. The company's focus on operational efficiency, including closing non-viable delivery depots and divesting an underperforming retail license, alongside a significant cultivation expansion and the launch of the Gramlin brand, aims to boost in-house sales and operational efficiency. Gold Flora's stock, priced at $0.33 with a 52-week range of $0.08-$0.66, is considered to have growth potential based on its valuation metrics and strategic positioning in the competitive California cannabis landscape.

Portfolio Pulse from Nicolás Jose Rodriguez

April 12, 2024 | 3:10 pm

AMD

GLD

INTC

JPM

USO

WFC

JP Morgan reported better-than-expected earnings but with a guidance slightly less than expected, leading to a temporary break in its rising trendline. Citigroup and Wells Fargo also reported earnings, with Citigroup's restructuring showing positive signs. Intel and AMD face challenges in China as telecom carriers are instructed to stop using their chips. Early trade money flows are neutral for Amazon, negative for Apple, Alphabet, Meta, Microsoft, NVIDIA, Tesla, SPDR S&P 500 ETF, and Invesco QQQ Trust. Gold and oil futures rose on reports of a potential Iranian attack, affecting related ETFs like SPDR Gold Trust and United States Oil ETF.

Portfolio Pulse from The Arora Report

April 12, 2024 | 3:01 pm

AGX

Argan Inc (NYSE:AGX) stock surged after reporting a 38.5% year-on-year sales growth in Q4 FY24 to $164.55 million, surpassing analyst expectations. Gross profit rose 18% to $23.6 million despite a contraction in profit margin. Operating income increased 22.6% with a $412.4 million cash reserve. EPS of $0.89 beat estimates, and a quarterly dividend of $0.30 per share was declared. The company is optimistic about its project pipeline in renewable and natural gas-fired projects.

Portfolio Pulse from Shivani Kumaresan

April 12, 2024 | 3:01 pm

AMZN

The article provides an industry comparison of Amazon.com (NASDAQ:AMZN) against its competitors in the Broadline Retail industry, focusing on financial metrics like P/E, P/B, P/S ratios, ROE, EBITDA, gross profit, and revenue growth. Amazon's ratios suggest a premium valuation, with a P/E ratio significantly exceeding the industry average, indicating potential overvaluation. Despite a lower ROE compared to the industry, Amazon shows strong operational performance with higher EBITDA and gross profit. However, its revenue growth is below the industry average, raising concerns about its sales environment.

Portfolio Pulse from Benzinga Insights

April 12, 2024 | 3:00 pm

NVDA

NVIDIA (NASDAQ:NVDA) stands out in the Semiconductors & Semiconductor Equipment industry with strong financial indicators compared to its competitors. With a PE ratio lower than the industry average, suggesting potential undervaluation, and significantly higher ROE, EBITDA, gross profit, and revenue growth, NVIDIA demonstrates robust profitability and sales performance. Its lower debt-to-equity ratio also indicates a strong financial position with less reliance on debt financing.

Portfolio Pulse from Benzinga Insights

April 12, 2024 | 3:00 pm

APLD

Applied Digital Corporation (NASDAQ:APLD) reported Q3 results with revenue of $43.3 million, missing the consensus of $51.9 million, and an adjusted loss of 24 cents per share, worse than the expected 10 cents per share loss. The company faced challenges including power outages at their datacenter hosting business. Despite this, they made progress in Cloud Services and established a 100 MW HPC datacenter. Shares fell 6% to $2.8850. Analysts from Roth MKM and Lake Street adjusted their price targets on APLD following the earnings announcement.

Portfolio Pulse from Avi Kapoor

April 12, 2024 | 2:51 pm

GOLD

Barrick Gold (NYSE:GOLD) has seen significant options activity, indicating a bearish sentiment among large investors. Benzinga's options scanner revealed 15 trades, with a predominant bearish outlook (80%). The trades suggest a target price range of $16.0 to $27.5. The largest trades were mostly calls with varying sentiments. Barrick Gold, a major gold miner, has seen its stock price increase by 3.69% to $18.7, potentially indicating an overbought condition. The company is set to release earnings in 19 days.

Portfolio Pulse from Benzinga Insights

April 12, 2024 | 2:48 pm

NXPL

NextPlat Corp (NASDAQ:NXPL) shares surged following the announcement of a definitive business combination agreement with its majority-owned subsidiary, Progressive Care Inc. The merger involves a NextPlat subsidiary merging with Progressive Care, with the latter becoming a wholly owned subsidiary of NextPlat, to be renamed Progressive Care LLC. Shareholders of Progressive Care will receive NextPlat's common stock, with the exchange ratio based on a 20-day volume-weighted average price of NextPlat's stock and a $2.20 per share valuation of Progressive Care. The deal is expected to close in Q3 2024, pending regulatory and shareholder approvals. NextPlat also reported a significant revenue increase for fiscal year 2023, attributing growth to healthcare operations and the Progressive Care consolidation. The company's gross margins improved, and it plans to launch new products, including a brand of vitamins and dietary supplements.

Portfolio Pulse from Nabaparna Bhattacharya

April 12, 2024 | 2:45 pm

UNH

UnitedHealth Group (NYSE:UNH) has seen a significant surge in options activity, with a bearish sentiment prevailing among big-money investors. Benzinga's options scanner revealed 11 unusual options trades, with a split sentiment of 36% bullish and 63% bearish. The trades include 6 puts and 5 calls, with a focus on strike prices between $400 and $500. Significant trades highlighted include both bearish and bullish positions with varying expiration dates. The company, a major health insurer, is currently trading at $441.22, slightly down by -0.11%, with an anticipated earnings release in 4 days. Market experts have issued ratings with a consensus target price of $542.6, despite the mixed sentiment in options trading.

Portfolio Pulse from Benzinga Insights

April 12, 2024 | 2:33 pm

GLD

QQQ

SPY

TLT

XLE

The University of Michigan's April report on U.S. consumer confidence revealed a decline in sentiment and an increase in inflation expectations, causing stocks to fall and gold to surge above $2,400. The consumer sentiment index dropped to 77.9, missing expectations, with sub-indexes for consumer expectations and current conditions also declining. Year-ahead inflation expectations rose to 3.1%, and long-term expectations to 3%. The SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ Trust (QQQ) saw declines, while the SPDR Gold Trust (GLD) and iShares 20+ Year Treasury Bond ETF (TLT) increased in value. The Energy Select Sector SPDR Fund (XLE) was the only sector ETF to trade in the green, supported by rising oil prices.

Portfolio Pulse from Piero Cingari

April 12, 2024 | 2:30 pm