Streetbeat News

Earnings

JPM

Jamie Dimon, CEO of JPMorgan Chase & Co. (NYSE:JPM), expressed concerns about persistent inflation and higher interest rates than anticipated in his annual shareholder letter. He highlighted various inflationary pressures and potential economic scenarios, including stagflation. Despite these challenges, Dimon praised the U.S. economy's resilience and JPMorgan's readiness for diverse interest rate environments. He criticized Basel III regulations for disadvantaging American banks and shared optimism for JPMorgan's financial performance, noting record revenues, net income, and an increased dividend.

Portfolio Pulse from Piero Cingari

April 08, 2024 | 3:50 pm

BMY

Bristol Myers Squibb (NYSE:BMY) announced positive results from the KRYSTAL-1 study for KRAZATI in combination with cetuximab, showing significant efficacy in treating KRASG12C-mutated colorectal cancer. The study, funded by Mirati Therapeutics, a Bristol Myers Squibb company, will be presented at the AACR annual meeting. The FDA has accepted a supplemental new drug application for this combination, with a PDUFA goal date of June 21, 2024.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 3:31 pm

PYPL

Recent options trading activity for PayPal Holdings (NASDAQ:PYPL) shows a mixed sentiment among investors, with a nearly even split between bullish and bearish positions. The trading volume and open interest suggest a targeted price range of $54.0 to $100.0 for PYPL over the last 3 months. The largest trades observed indicate significant activity in both calls and puts, with varying sentiments. PayPal, known for its electronic payment solutions and ownership of Venmo, has seen its stock price slightly increase by 0.69% to $65.6. Analysts have recently adjusted their ratings and price targets, with an average target price of $67.0.

Portfolio Pulse from Benzinga Insights

April 08, 2024 | 3:30 pm

AXTI

AXT shares are trading higher following the company's announcement of preliminary Q1 2024 revenue results, which exceeded estimates.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 3:29 pm

NTZ

Natuzzi shares are trading lower following the announcement of their Q4 financial results.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 3:27 pm

PSX

Deep-pocketed investors have shown a bullish sentiment towards Phillips 66 (NYSE:PSX), as revealed by Benzinga's tracking of public options records. The options activity suggests a price target range of $145.0 to $175.0 for PSX. The company, an independent refiner, is currently trading at $170.52, with a consensus analyst target price of $177.4. The next earnings report is expected in 18 days, and the RSI indicators suggest the stock may be overbought.

Portfolio Pulse from Benzinga Insights

April 08, 2024 | 3:16 pm

GE

The market experienced a downturn, with the S&P and Dow Jones falling significantly, attributed to comments by Minneapolis FED President Neel Kashkari on interest rates. However, a positive jobs report led to a late-week rally. General Electric Co (GE), now GE Aerospace, outperformed the market, growing 12.50% after shedding debt from its parent company, making it more attractive to investors. The jobs report's impact on future market trends and interest rates remains uncertain, advising caution in the short term.

Portfolio Pulse from The Traders Tribune

April 08, 2024 | 3:16 pm

SPY

The New York Federal Reserve's March report indicates that the year-ahead expected earnings growth remains steady at 2.8%. Labor market expectations were mixed, with the highest fear of missing debt payments in four years. However, households viewed their personal finances more positively in March.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 3:02 pm

VRT

Financial analysis of Vertiv Hldgs (NYSE:VRT) options market reveals a bearish sentiment with 69% of traders showing bearish tendencies. Notable options activity includes both puts and calls with a target price range from $40.0 to $86.0. Vertiv Hldgs, a company providing solutions for data centers and communication networks, has seen its stock price slightly increase by 0.11% to $85.43. Analysts have given an average target price of $89.0, with ratings ranging from Outperform to Buy. The next earnings report is expected in 16 days.

Portfolio Pulse from Benzinga Insights

April 08, 2024 | 3:01 pm

MSTR

MicroStrategy (NASDAQ:MSTR) is analyzed against its software industry peers, showing potential undervaluation in PE and PB ratios but overvaluation in PS ratio. Its ROE, EBITDA, gross profit, and revenue growth indicate underperformance. The company's moderate debt-to-equity ratio suggests a balanced financial structure.

Portfolio Pulse from Benzinga Insights

April 08, 2024 | 3:01 pm