Streetbeat News

Earnings

OCX

OncoCyte (NASDAQ:OCX) reported Q4 earnings with a per-share loss of $(2.18), missing the consensus estimate of $(1.14) by 91.23%. Quarterly sales were $314.00K, falling short of the $320.00K estimate by 1.88%.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 10:07 am

UNTY

Unity Bancorp (NASDAQ:UNTY) reported Q1 earnings of $0.93 per share, surpassing the analyst consensus estimate of $0.90 by 3.33%. However, this represents a 3.12% decrease from the $0.96 per share reported in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 10:02 am

BLK

BlackRock reported Q1 adjusted EPS of $9.81, surpassing the $9.32 estimate, and sales of $4.73B, exceeding the $4.68B estimate. This represents a 23.71% increase in EPS and an 11.43% increase in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 9:59 am

KMX

CarMax Inc (NYSE:KMX) is marketing a $1.25 billion bond sale following a fourth-quarter earnings miss, with potential to increase to $1.6 billion. The sale is organized by Mitsubishi UFJ Financial Group and comes after CarMax shares dropped due to lower-than-expected profits, attributed to vehicle affordability challenges. This move into the ABS market follows a history of CarMax raising funds through ABS offerings, including a $1.55 billion sale in January.

Portfolio Pulse from Shivani Kumaresan

April 12, 2024 | 9:59 am

TSLA

Gary Black of Future Fund predicts Tesla, Inc. (TSLA) will surpass Q1 earnings expectations, potentially aided by $926 million in full-self-driving deferred revenue. He anticipates flat 2024 delivery growth at 1.8 million units, a figure already priced into the stock. Black hopes CEO Elon Musk won't blame the Q1 volume decline on high interest rates, noting that EV competitors saw 15-20% growth. He suggests Tesla could meet its 2024 delivery estimate by increasing advertising and resolving production issues.

Portfolio Pulse from Shanthi Rexaline

April 12, 2024 | 9:51 am

ALLR

MOTS

NXPL

RENT

NextPlat Corp (NASDAQ:NXPL) shares surged approximately 30% in pre-market trading after announcing a 222% year-over-year increase in consolidated 2023 revenues, reaching $37.8 million. Other stocks also showed significant movement in pre-market trading, with notable gainers including Allarity Therapeutics, PaxMedica, OncoCyte Corporation, and Zapata Computing Holdings, among others. Conversely, several stocks experienced declines, such as Motus GI Holdings, Rent the Runway, and Kazia Therapeutics, driven by various company-specific news and market reactions.

Portfolio Pulse from Avi Kapoor

April 12, 2024 | 9:32 am

AGX

C

JPM

PXMD

WFC

Citigroup, JPMorgan, Argan, PaxMedica, and Wells Fargo are stocks to watch due to earnings reports and significant after-hours trading movements. Citigroup and Wells Fargo are anticipated to report their quarterly earnings, with Citigroup expected to show a decrease compared to the previous year. Argan reported better-than-expected Q4 results, leading to a 7.4% increase in its stock price. JPMorgan is also expected to release its earnings, with a slight increase in its stock price in after-hours trading. PaxMedica announced the completion of pivotal batches for PAX-101, causing a 116.1% surge in its stock price.

Portfolio Pulse from Avi Kapoor

April 12, 2024 | 7:00 am

PGR

Progressive Corporation (NYSE:PGR) is anticipated to release its Q1 earnings on April 12, 2024, with analysts forecasting a significant increase in earnings per share to $3.17 from 65 cents the previous year, and revenue expected to rise to $17.43 billion from $15.87 billion. Following a report of February earnings of $1.24 per share and net income of $737.1 million, PGR's stock fell 1.9% to $202.26. Analysts from Wells Fargo, Keefe, Bruyette & Woods, B of A Securities, Piper Sandler, and Citigroup have recently updated their ratings and price targets for PGR.

Portfolio Pulse from Avi Kapoor

April 12, 2024 | 5:27 am

STT

State Street Corporation (NYSE:STT) is anticipated to report Q1 earnings of $1.50 per share, a slight decrease from $1.52 the previous year, with revenue expected at $3.06 billion, down from $3.1 billion. The company completed the acquisition of CF Global Trading on Feb. 1. Shares dropped 0.6% to $73.91 recently. Analysts have updated their ratings, with price targets ranging from $81 to $92, reflecting varied expectations.

Portfolio Pulse from Avi Kapoor

April 12, 2024 | 4:55 am

MSTR

Peter Schiff predicts a significant crash for Bitcoin, attributing it to speculative ETF buyers selling off, leading to a lack of liquidity. He also foresees a potential bankruptcy for MicroStrategy (NASDAQ:MSTR) due to its heavy investment in Bitcoin. Schiff criticizes the blockchain and Bitcoin as a 'Digital Ponzi' scheme and questions MicroStrategy's financial strategies. Despite Bitcoin's recent losses, analysts predict its holdings will increase significantly by 2025.

Portfolio Pulse from Khyathi Dalal

April 11, 2024 | 9:53 pm