Streetbeat News

Earnings

RVMD

Revolution Medicines, Inc. (NASDAQ:RVMD) shares surged after announcing the publication of several peer-reviewed research papers on RMC-6236 and RMC-7977, showing promising preclinical and preliminary clinical data. The stock hit a new 52-week high of $37.50, trading above its 50-day moving average.

Portfolio Pulse from Erica Kollmann

April 10, 2024 | 4:20 pm

JPM

JPMorgan Chase & Co. (JPM) is set to release its Q1 earnings on April 12, 2024, with expectations of earnings per share at $4.15, up from $4.1 the previous year, and revenue projected at $41.96 billion, up from $39.34 billion. Chris Meredith has joined as CIO - Tax-Smart Strategies. Shares fell 0.7% to $197.15 recently. Analysts have updated their ratings and price targets, with varying degrees of optimism reflected in their assessments.

Portfolio Pulse from Avi Kapoor

April 10, 2024 | 4:16 pm

BABA

TCEHY

ByteDance, the parent company of TikTok, reported a 60% increase in profit year-over-year, surpassing Chinese rivals Tencent Holdings and Alibaba Group Holding in both revenue and profit for the first time. With a revenue jump from $80 billion to $120 billion in 2023, ByteDance's growth comes amid potential U.S. bans on TikTok. The company's valuation was marked at $268 billion in December 2023, indicating strong investor confidence despite regulatory challenges in the U.S.

Portfolio Pulse from Chris Katje

April 10, 2024 | 4:12 pm

DAL

JETS

Delta Air Lines, Inc. (NYSE:DAL) stock has soared over 50% in under 6 months, currently trading around $48, up from $30 at the end of October 2023. The company reported better-than-expected Q1 earnings, with a 25% earnings surprise and a 9.39% revenue surprise. Technical analysis shows a strong bullish trend, but the RSI nears overbought territory, indicating caution. Analysts from Susquehanna, BofA Securities, and Morgan Stanley see a potential upside of 32.64%, with a collective average price target of $64. Delta is the top holding of the U.S. Global Jets ETF (NYSE:JETS), comprising 11.86% of its portfolio, which is up about 8% YTD.

Portfolio Pulse from Surbhi Jain

April 10, 2024 | 4:03 pm

APRE

Aprea Therapeutics announced presentations on APR-1051 and ATRN-119 at AACR Annual Meeting 2024, highlighting pre-clinical and clinical updates. APR-1051, a WEE1 kinase inhibitor, shows potential for treating Cyclin E-overexpressing cancers with minimal off-target effects and low cardiotoxicity. ATRN-119, an ATR inhibitor, demonstrated safety and preliminary clinical benefit in an ongoing study. The company plans to initiate a Phase 1 trial for APR-1051 in June 2024.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 4:02 pm

VRT

Recent options trading trends for Vertiv Holdings (VRT) show a bearish stance by significant investors, with 65% of detected trades being bearish. The trading activity suggests a target price range of $55 to $100 for VRT in the next three months. Notable options activity includes both bullish and bearish sentiments, with significant trades highlighted. Vertiv Holdings, a company offering solutions for data centers and communication networks, is currently trading at $80.02, down 2.18%, with an anticipated earnings release in 14 days. Analyst ratings in the last month have an average target price of $91.6 for VRT.

Portfolio Pulse from Benzinga Insights

April 10, 2024 | 3:30 pm

IWM

SPY

XLRE

The March Consumer Price Index report showed inflation rates higher than expected, affecting investor expectations for Federal Reserve rate cuts and impacting stock and bond markets. The SPDR S&P 500 ETF Trust (SPY), iShares Russell 2000 ETF (IWM), and Real Estate Select Sector SPDR Fund (XLRE) experienced declines in response. Economists and market experts provided varied reactions, highlighting the challenges for the Fed and potential impacts on the economy and financial markets.

Portfolio Pulse from Piero Cingari

April 10, 2024 | 3:26 pm

SVNDF

SVNDY

Seven & I Holdings Co., Ltd. is considering a potential listing of its Ito-Yokado segment to focus on expanding its 7-Eleven franchise. The company aims to create a globally integrated CVS management structure and refine its Superstore business for re-growth. This move comes after pressure from ValueAct Capital Management for structural reform and valuation improvement, including potential store closures. Despite a slight decline in net sales, Seven & I reported a 5.5% increase in operating profit in its latest fiscal year. The company also plans share buybacks and a stock split, although its outlook slightly trails analysts' projections.

Portfolio Pulse from Shivani Kumaresan

April 10, 2024 | 3:18 pm

AFRM

Affirm Holdings (NASDAQ:AFRM) has seen a bearish trend in options trading, with 70% of trades being bearish. The trading volume and open interest suggest a price band focus between $30.0 and $55.0. Currently, AFRM's stock price is down by -4.66%, trading at $33.72, with an RSI indicating a neutral position. The anticipated earnings release is in 27 days.

Portfolio Pulse from Benzinga Insights

April 10, 2024 | 3:17 pm

FANH

WDH

Zhongmiao Innovation Technology, backed by Haier Group, has filed for a Hong Kong IPO, showcasing strong profits with a focus on corporate insurance and a light cost structure. Despite a slowing economy, Zhongmiao's revenue grew by 17% to $24 million in 2023, with a gross profit margin over 40%. Its cost efficiency contrasts sharply with rivals Fanhua and Waterdrop, which have higher operating expenses and, in Waterdrop's case, an operating loss. Zhongmiao's corporate insurance sales, making up 41% of revenue with a 66% gross profit margin, significantly contribute to its profitability. However, the company faces risks from heavy reliance on a few underwriters and potential regulatory crackdowns.

Portfolio Pulse from The Bamboo Works

April 10, 2024 | 3:06 pm