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Earnings

ELYM

RENT

RLYB

Rallybio collaborates with Johnson & Johnson on therapeutics for pregnant individuals at risk of FNAIT, causing RLYB shares to surge by 104%. Rent the Runway's mixed Q4 results and future guidance boost RENT shares by 77%. Eliem Therapeutics announces acquisition of Tenet and a $120 million private placement, leading to a 65% increase in ELYM shares.

Portfolio Pulse from ryanfaloona@benzinga.com

April 11, 2024 | 12:31 pm

SPY

The Core Producer Price Index (PPI) for March increased by 0.2%, aligning with the market expectations.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 12:30 pm

BTU

Peabody Energy's shares dropped following the announcement of preliminary unaudited Q1 revenue results, which fell below estimates.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 12:22 pm

ASPI

ASP Isotopes Inc. (ASPI) reported a $(4.7)M operating free cash flow for 2023, slightly better than the $(5)M target. The company ended the year with $7.9M in cash and recently raised over $25.5M through a convertible note offering and warrant exercises. ASPI highlighted its progress, including the start of its first commercial isotopes plant, contracts for enriched silicon-28 and nuclear fuels, and the construction of a quantum enrichment facility. The company expects to generate revenue from enriched isotopes sales this year and is exploring debt financing options for future projects.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 12:13 pm

LAKE

Lakeland Industries Inc (NASDAQ:LAKE) reported Q4 FY24 sales of $31.20 million, below the analyst consensus of $32.50 million, with a 7.7% Y/Y growth. Gross profit rose 3.2% Y/Y to $11.2 million, but gross margin fell to 35.9% from 37.5%. The company experienced an operating loss of $3.3 million, a downturn from last year's $0.1 million profit. Adjusted EBITDA improved to $3.4 million from $1.9 million. EPS was $(0.13), missing the $0.30 estimate. Lakeland forecasts FY25 revenue of $140 million to $150 million and adjusted EBITDA of $16.8 million to $18.5 million. Shares closed up 1.44% at $17.67.

Portfolio Pulse from Shivani Kumaresan

April 11, 2024 | 12:12 pm

MEIP

MEI Pharma, Inc. (NASDAQ:MEIP) has decided to focus on advancing voruciclib and developing a new formulation of ME-344 based on positive clinical data, foregoing a second capital return under the 2023 Anson and Cable Car Cooperation Agreement to conserve capital. The strategic plan aims to optimize the development of voruciclib for a Phase 3 study in combination with venetoclax for treating relapsed/refractory AML and to enhance ME-344's formulation for treating solid tumors in combination with VEGF inhibitors like Avastin. This decision is aligned with the company's goal to address significant medical needs while managing resources effectively.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 12:06 pm

KMX

CarMax Inc (NYSE:KMX) shares dropped after reporting a Q4 FY24 sales decline of 1.7% to $5.63 billion, missing estimates of $5.79 billion. The company experienced a slight decrease in unit sales and a 10.8% drop in vehicle purchases from consumers and dealers. Challenges such as inflation, higher interest rates, and low consumer confidence impacted sales. Gross profit fell by 4.1%, and EPS of $0.32 missed the consensus estimate of $0.49. Despite these challenges, CarMax Auto Finance income rose by 18.9%. The company plans to accelerate share repurchases and opened four new stores, aiming for over 2 million annual sales by FY2030.

Portfolio Pulse from Shivani Kumaresan

April 11, 2024 | 12:05 pm

NTIC

Northern Technologies (NTIC) reported Q2 adjusted earnings of $0.18 per share, surpassing the $0.17 estimate, marking a 260% increase from last year. However, their sales of $20.84M fell short of the $21.20M estimate, despite being a 14.08% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 12:03 pm

FAAS

FAST

GRFS

KMX

LOVE

MCY

NBTX

NYXH

RCEL

CarMax, Inc. reported lower-than-expected Q4 earnings, leading to a 9.1% drop in pre-market trading. Other stocks like The Lovesac Company, Nyxoah S.A., AVITA Medical, Inc., DigiAsia Corp., Nanobiotix S.A., Grifols, S.A., Fastenal Company, and Mercury General Corporation also saw declines in pre-market trading due to various reasons including disappointing earnings, downgrades, and upcoming earnings expectations.

Portfolio Pulse from Avi Kapoor

April 11, 2024 | 12:03 pm

BTU

Peabody (NYSE:BTU) expects to report Q1 2024 revenue of $980M, below the $1.04B estimate. The company anticipates income from continuing operations at $45M and Adjusted EBITDA of $160M. Sales volumes were in line for seaborne segments but lower in U.S. thermal segments due to various factors including unfavorable coal mix, lower prices in the metallurgical coal segment, and higher costs at CMJV. The company faced production challenges but expects improvements as operations at CMJV dragline and Wambo longwall resume. Full results will be released on May 2, 2024.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 12:01 pm