Streetbeat News

Earnings

ACHL

ALUR

CADL

EFTR

KWE

RPM

TCBP

U.S. stocks declined with the Dow Jones falling over 200 points. RPM International's shares dropped after Q3 results, showing a slight sales increase but beating EPS estimates. TCBP, ALUR, and CADL shares surged on positive news, while EFTR, ACHL, and KWE shares plummeted due to disappointing updates. Oil and gold prices rose.

Portfolio Pulse from Avi Kapoor

April 04, 2024 | 6:39 pm

MGNX

MacroGenics Inc (NASDAQ:MGNX) updated on its Phase 2 TAMARACK study for metastatic castration-resistant prostate cancer, highlighting improved safety from its candidate vobramitamab duocarmazine (vobra duo). Despite the abstract not being accepted for ASCO presentation, the company plans to share further data by May end. JMP Securities maintains a Market Outperform rating with a $22 price target, noting the enhanced safety profile and reduced treatment interruptions.

Portfolio Pulse from Vandana Singh

April 04, 2024 | 6:16 pm

DIS

Disney (NYSE:DIS) stock has surged over 50% in the past six months, with a 32.50% increase in 2024, driven by CEO Bob Iger's turnaround plans. Key factors include strong Q1 financial performance, Disney+'s success, strategic initiatives like cost-saving measures, and a $3 billion buyback program. The stock hit a 52-week high of $123.74 and shows bullish momentum in technical analysis, trading above its 20 and 50-day SMAs.

Portfolio Pulse from Surbhi Jain

April 04, 2024 | 6:12 pm

NVS

Novartis AG (NYSE:NVS) shares rose after the company announced plans to file for Pluvicto's label expansion in H2 2024, based on positive Phase 3 PSMAfore study results. The study showed improved overall survival rates and a consistent safety profile for Pluvicto in advanced prostate cancer treatment. Additionally, Novartis confirmed its acquisition of MorphoSys for €2.7B. In 2023, Pluvicto sales reached $980 million.

Portfolio Pulse from Vandana Singh

April 04, 2024 | 6:09 pm

NHI

National Health Investors (NHI) has been analyzed by 6 analysts, showing a shift towards a more cautious stance in the last 30 days with an average price target of $64.5, indicating an 11.69% increase from the previous target. The company's financial performance shows strong revenue growth, net margin, ROE, and ROA, outperforming industry averages, with a sound debt management strategy.

Portfolio Pulse from Benzinga Insights

April 04, 2024 | 6:01 pm

UPST

In the past three months, 5 analysts have provided varied ratings for Upstart Holdings (NASDAQ:UPST), with recent actions including maintaining, raising, and lowering ratings and price targets. The average 12-month price target remains at $25.00. Upstart's financials show challenges in revenue growth, profitability, and asset utilization, with a notable decline in revenue by -5.17% as of December 31, 2023, and a net margin of -31.44%. The company's market capitalization and financial performance indicators like ROE and ROA are below industry averages, despite a sound debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

April 04, 2024 | 6:00 pm

IYE

XLE

XOM

Goldman Sachs analyst Neil Mehta has a positive outlook on Exxon Mobil Corp.'s (XOM) Q1 FY24 performance despite challenges from weak oil and gas prices. The company expects gas price fluctuations to impact its upstream results negatively by $0.2 to $0.6 billion. However, the analyst's estimates for Upstream, Downstream, and Chemicals earnings are above expectations, with implied EPS at $2.15, surpassing both Goldman Sachs' estimate of $1.95 and the FactSet consensus of $2.06. Revenue projections for 2024-2026 show growth. Investors can also gain exposure through Energy Select Sector SPDR Fund (XLE) and iShares U.S. Energy ETF (IYE). XOM shares saw a slight increase of 0.29% to $119.65.

Portfolio Pulse from Lekha Gupta

April 04, 2024 | 5:59 pm

STAA

STAAR Surgical Company (NASDAQ:STAA) reported preliminary Q1 2024 net sales of over $77 million, surpassing the consensus of $72.13 million. This includes the highest quarterly U.S. ICL sales since EVO ICL's FDA approval in March 2022. The company anticipates 2024 net sales at the higher end of the $335 million to $340 million range. Cash and investments were about $248 million, with accounts receivable at $70 million. Needham maintains a Hold rating on STAA, expecting revenues to approach $355 million in 2024 but sees the 2026 revenue target as challenging.

Portfolio Pulse from Vandana Singh

April 04, 2024 | 5:54 pm

LEVI

Levi Strauss & Co. (NYSE:LEVI) reported first-quarter earnings of 26 cents per share, surpassing the analyst consensus estimate of 21 cents. Quarterly sales were $1.558 billion, exceeding estimates and marking a 7.76% decrease from the previous year. The company raised its 2024 earnings guidance from $1.15-$1.25 per share to $1.17-$1.27, against an estimate of $1.21. Following the announcement, Levi Strauss shares surged 18% to $22.01. Analysts from Telsey Advisory Group, TD Cowen, Wells Fargo, and UBS adjusted their price targets upwards.

Portfolio Pulse from Avi Kapoor

April 04, 2024 | 5:51 pm

AIQ

DIA

MAGS

QQQ

SPY

U.S. equities, including the S&P 500 and Nasdaq 100, are on track for record closes, driven by a risk-on sentiment and anticipation of a slowing labor market. AI-related stocks and the 'Magnificent 7' led gains, while gold took a breather and Bitcoin rebounded. Notable movements were seen in ETFs like AIQ and MAGS, and stocks such as META, TSLA, FSLR, and ENPH. The SPDR S&P 500 ETF Trust, SPDR Dow Jones Industrial Average, and Invesco QQQ Trust also saw increases.

Portfolio Pulse from Piero Cingari

April 04, 2024 | 5:50 pm