Streetbeat News

Earnings

ACGL

Arch Capital Group (NASDAQ:ACGL) has been reviewed by 8 analysts in the last three months, showing diverse opinions from bullish to bearish. The average 12-month price target is $95.0, marking a 4.24% increase from the previous target of $91.14. Analysts have adjusted their ratings and price targets, reflecting changes in market dynamics and company performance. Arch Capital Group, a Bermuda-based insurance and reinsurance company, has shown strong financial performance with a revenue growth rate of 28.29%, a net margin of 61.37%, ROE of 14.56%, ROA of 4.07%, and a low debt-to-equity ratio of 0.16.

Portfolio Pulse from Benzinga Insights

April 08, 2024 | 9:00 pm

TSLA

Tesla Inc (NASDAQ:TSLA) reportedly halting plans for a $25,000 vehicle shifts focus to robotaxi development, causing mixed analyst reactions. Deutsche Bank's Emmanuel Rosner lowers Tesla's price target from $200 to $189, citing potential thesis change. Uncertainty surrounds Tesla's strategy, with CEO Elon Musk disputing reports but not clarifying future plans. Tesla's Q1 financial results on April 23 may offer insights. The shift could impact Tesla's near-term volume, margins, and free cash flow, with implications for shareholder expectations and stock performance.

Portfolio Pulse from Chris Katje

April 08, 2024 | 8:49 pm

VINC

Vincerx Pharma's shares dropped following the presentation of preliminary Phase 1 data for VIP236 and updates on its pipeline progress at the AACR Annual Meeting 2024.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 8:42 pm

ELEV

Elevation Oncology, Inc. (NASDAQ:ELEV) announced preclinical proof-of-concept data for its HER3-ADC program at the AACR Annual Meeting 2024. The data demonstrates the program's potential in treating HER3-expressing cancers with a novel antibody-drug conjugate (ADC) that selectively targets HER3. The company plans to nominate a development candidate later in 2024, aiming to advance this therapy closer to clinical trials. The HER3-ADC program, which includes the molecule HER3-ADC1, showed promising results in vitro and in vivo, outperforming a benchmark HER3-ADC in cytotoxicity assays and inducing tumor regression in a pancreatic cancer model.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 8:36 pm

HLIT

Harmonic Inc. projects its Q1 2024 revenue to be in the range of $121M-$123M, which is around the analyst estimate of $122.080M.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 8:34 pm

VINC

Vincerx Pharma presented preliminary Phase 1 data for VIP236, showing positive clinical activity and safety in metastatic solid tumors, at the AACR Annual Meeting 2024. VIP943 PK data indicated favorable safety, and preclinical studies of Vincerx's VersAptx™ platform showed potential to enhance cancer therapies. A virtual investor event is scheduled.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 8:31 pm

AHT

Ashford Hospitality Trust reported its preliminary Q1 2024 occupancy rate at approximately 67%, with an average daily rate of around $191, leading to a Revenue per Available Room (RevPAR) of about $128. This represents a 1% decrease in RevPAR year-over-year.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 8:25 pm

SAND

Sandstorm Gold Royalties (SAND) reported preliminary Q1 2024 total sales, royalties, and income of $42.8M, down from $54.0M in Q1 2023. Attributable gold equivalent ounces sold were 20,300, with a cash operating margin of $1,781 per ounce, compared to 28,368 ounces and a $1,652 margin in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 8:22 pm

QQQ

SPY

TLT

The upcoming Consumer Price Index (CPI) report for March is highly anticipated, with economists expecting a slight increase in annual CPI inflation from 3.2% to 3.4%, and a deceleration in monthly CPI inflation to 0.3%. Core CPI inflation is also expected to ease, potentially influencing the Federal Reserve's decision on interest rates. The report's outcome could sway market expectations towards either a rate cut or hold in June. Previous CPI data led to a decline in SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ Trust (QQQ), while iShares 20+ Year Treasury Bond ETF (TLT) weakened.

Portfolio Pulse from Piero Cingari

April 08, 2024 | 8:18 pm

HTCR

HeartCore Enterprises, Inc. (HTCR) reported a significant improvement in its full-year 2023 financial results, with EPS improving to $(0.21) from $(0.37) YoY and revenue soaring to $21.85M from $8.82M. The growth was driven by increased revenues from Go IPO consulting services, received warrants from customers, and customized software development and services, particularly from Sigmaways and its subsidiaries. Despite the revenue growth, the company's net loss was $4.9M, an improvement from the previous year's $6.7M loss. Operating expenses rose to $12.2M due to higher general and administrative and R&D expenses. Cash and cash equivalents significantly decreased to $1.0M from $7.2M.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 8:16 pm