Streetbeat News

Earnings

TSM

TSMC has reaffirmed its full-year revenue guidance of low-to-mid twenties percentage growth, as initially provided in January. The company also reported that, aside from some production lines, equipment in its Taiwan fabs has largely been fully recovered as of April 5, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 1:27 pm

RDDT

Reddit Inc (NYSE:RDDT) has faced skepticism post-IPO, with concerns about its profitability and 'meme stock' status. Despite not having reported an annual profit since its 2005 inception, its IPO was notable, with shares initially offered at $34. The stock has since dropped, trading at $45.88, below the initial $47 offering price. Analysts from Bernstein and Baird issued 'Underperform' and 'Neutral' ratings, respectively, with concerns over engagement metrics and content, but also noting Reddit's strong user community and potential for growth. The stock has lost over 9.2% since its IPO.

Portfolio Pulse from Anusuya Lahiri

April 05, 2024 | 1:24 pm

ZGN

Ermenegildo Zegna's shares are trading lower following the announcement of their FY23 financial results.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 1:24 pm

CADL

Candel Therapeutics Inc (NASDAQ:CADL) shares surged on heavy trading volume following positive interim data from a phase 2 clinical trial of CAN-2409 for non-metastatic pancreatic cancer, showing prolonged survival rates. Additionally, updated data from a phase 1b trial of CAN-3110 for recurrent high-grade glioma showed nearly double the expected median overall survival. Shares are up 15.20% in premarket trading.

Portfolio Pulse from Vandana Singh

April 05, 2024 | 1:22 pm

CORZ

Core Scientific, Inc. (CORZ) announced its March 2024 production and operations updates, highlighting significant achievements in bitcoin mining and infrastructure expansion. The company reported earning 906 self-mined bitcoins and facilitating an additional 309 bitcoins mined by customers in March. For Q1 2024, Core Scientific mined a total of 2,825 bitcoins and customers mined 970 bitcoins. The company deployed its first shipment of approximately 2,500 S21 miners, expanded its operational infrastructure to 745 megawatts, and operated around 224,000 bitcoin miners with a total hash rate of 25.6 exahash as of March 31, 2024. Additionally, Core Scientific delivered 16 megawatts of infrastructure for a high-performance computing client ahead of schedule, aiming to achieve a hash rate of 21.8 exahash by the end of 2024.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 1:11 pm

BMY

TSVT

Abecma, a treatment option, significantly improved the primary endpoint of progression-free survival (PFS) by more than tripling PFS compared with standard regimens at a median follow-up duration of 15.9 months.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 1:09 pm

GOOG

GOOGL

META

MSFT

ORCL

Dan Ives of Wedbush predicts a 15% rally in tech stocks in 2024, driven by AI advancements and increased ad spending. Alphabet Inc. (GOOG, GOOGL) is highlighted for potential revenue boosts from digital advertising and cloud services. Oracle Corp. (ORCL) is noted for its AI 'hypergrowth,' and Microsoft Corp. (MSFT) and Meta Platforms Inc. (META) are also favored for their AI and cloud capabilities. Ives remains optimistic despite Google's AI chatbot challenges, expecting significant upside for Google and overall tech sector growth.

Portfolio Pulse from Rounak Jain

April 05, 2024 | 1:01 pm

GL

Globe Life Inc (NYSE:GL) received mixed analyst ratings in the latest quarter, with 2 somewhat bullish and 2 indifferent ratings. The 12-month price targets show a decrease to an average of $129.00 from $132.25. Analyst actions included both raises and lowers in ratings and price targets, reflecting varied expectations for the company's performance. Globe Life's financial indicators such as revenue growth, net margin, ROE, ROA, and debt management are highlighted, showcasing the company's market position and financial strength.

Portfolio Pulse from Benzinga Insights

April 05, 2024 | 1:00 pm

CURI

SBGI

T

Wall Street's most accurate analysts recommend three tech and telecom stocks with over 6% dividend yields: CuriosityStream Inc. (CURI), Sinclair, Inc. (SBGI), and AT&T Inc. (T). These stocks are highlighted for their high dividend yields amidst market turbulence. Recent updates include mixed financial results for CURI, a new national correspondent for SBGI, and a data leak affecting AT&T customers.

Portfolio Pulse from Avi Kapoor

April 05, 2024 | 12:58 pm

CADL

Candel Therapeutics announced interim data from a Phase 2 clinical trial of CAN-2409 for treating non-metastatic pancreatic cancer. The data could influence the company's stock performance in the short term.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 12:57 pm