Streetbeat News

Earnings

AMD

BLK

INTC

JPM

QQQ

SPY

WFC

Wall Street is poised for a pullback as stock futures decline, with JPMorgan tumbling 3% and gold surging past $2,400. The shift to cautiousness follows a relief rally sparked by the producer price index report. Big bank earnings have been disappointing, affecting market sentiment. The SPDR S&P 500 ETF Trust and Invesco QQQ ETF saw premarket declines. Analysts predict a potential momentum pickup in stocks post-April 15, despite current market pullbacks. Upcoming economic data and Fed officials' speeches are highly anticipated. Globe Life Inc. rebounds in premarket trading, while Intel and AMD face challenges from China's move against U.S.-made chips. BlackRock rises after an earnings beat, but Wells Fargo also sees a decline.

Portfolio Pulse from Shanthi Rexaline

April 12, 2024 | 11:27 am

BLK

DIVL

FDFF

BlackRock, Inc. (NYSE:BLK) reported strong first-quarter FY24 results with an 11% revenue growth to $4.728 billion, surpassing consensus estimates. The company saw increases in investment advisory, administration fees, and technology services revenue, alongside a net inflow of $57 billion. Adjusted operating income and EPS also rose significantly. Total AUM reached $10.5 trillion. BLK announced a quarterly dividend of $5.10 and share repurchases worth $375 million. The company is focusing on growth in infrastructure, technology, and retirement solutions. BlackRock also issued $3 billion in debt for an acquisition and is considering selling a U.K. gas pipeline network. BLK shares rose 2.68% in premarket trading.

Portfolio Pulse from Lekha Gupta

April 12, 2024 | 11:22 am

BLK

BSVN

JPM

KULR

OCX

PGR

STT

WFC

Earnings reports for April 12, 2024, include major financial institutions and companies across various sectors. Highlights include Progressive, Citigroup, State Street, JPMorgan Chase, Wells Fargo, BlackRock, Bank7, OncoCyte, and KULR Tech Gr, with a mix of projected earnings and losses.

Portfolio Pulse from Benzinga Insights

April 12, 2024 | 11:18 am

LEN

NEOG

SGH

Insiders at Lennar, SMART Global Holdings, and Neogen have made notable stock purchases, indicating confidence in their companies. Lennar's director bought shares amid a supply agreement with LP Building Solutions. SMART Global's CEO purchased shares after reporting earnings that beat estimates. Neogen's director invested following a disappointing earnings report and guidance cut.

Portfolio Pulse from Avi Kapoor

April 12, 2024 | 11:17 am

APLD

Applied Digital's stock trades lower following the announcement of disappointing Q3 financial results.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 11:08 am

BMR

Beamr Imaging announced in a CEO letter to shareholders that it generated approximately $0.39M in Q1 revenues, an increase from $0.33M YoY. The company also reported having $19M in cash and equivalents as of March 31. For Q2 2024, Beamr plans to focus on integrating vision AI processes into Beamr Cloud, including AI workflows like object detection, alongside video optimization. These enhancements aim to improve offerings to video customers and expand into new AI markets, with ongoing improvements to Beamr Cloud for ease of use and configurability.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 11:05 am

BLK

BlackRock's shares have seen an increase following the announcement of their first-quarter financial results, which surpassed expectations.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 11:03 am

GLD

UNG

USO

On Thursday, U.S. stock markets ended mostly higher, with the Nasdaq and S&P 500 seeing gains, driven by tech momentum stocks amid cooling inflation signs. U.S. producer prices and initial jobless claims both came in below expectations. Despite a drop in stocks on Wednesday due to higher-than-expected CPI data, technology stocks led gains in the S&P 500. The Dow Jones slightly declined. Asian markets were mixed, with Japan's Nikkei 225 gaining, while markets in Australia, India, China, and Hong Kong fell. European markets and commodities, including gold, silver, and crude oil, traded higher.

Portfolio Pulse from Akanksha Bakshi

April 12, 2024 | 11:03 am

JPM

JP Morgan Chase shares are trading lower following the release of their Q1 earnings.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 11:03 am

JPM

JPMorgan Chase reported Q1 2024 adjusted earnings per share of $4.63, surpassing the $4.15 estimate, with sales of $49.10 billion also beating the $41.84 billion estimate. This represents a 24.82% increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 10:52 am