Streetbeat News

Earnings

ON Semiconductor (NASDAQ:ON) is analyzed against its peers in the Semiconductors & Semiconductor Equipment industry, showing potential undervaluation based on its P/E, P/B, and P/S ratios. Despite a higher ROE indicating profitability, concerns arise from its lower EBITDA, gross profit, and negative revenue growth compared to the industry average. The company's lower debt-to-equity ratio suggests a strong financial position.

Portfolio Pulse from Benzinga Insights

April 04, 2024 | 3:00 pm

CVS

Analyst ratings for CVS Health (NYSE:CVS) over the last three months show a mix of opinions, with a recent shift towards a somewhat bullish outlook. The average 12-month price target has been adjusted to $86.33, a decrease from the previous $89.50. Analysts from firms like Cantor Fitzgerald, Piper Sandler, Barclays, Leerink Partners, and RBC Capital have provided updates, with actions ranging from maintaining to raising or lowering their ratings and price targets. CVS Health's financial performance indicates strong market position, revenue growth, and profitability, with a market capitalization that asserts its dominance in the healthcare sector.

Portfolio Pulse from Benzinga Insights

April 04, 2024 | 3:00 pm

NKLA

Nikola Corporation's shares are experiencing an uptick following the announcement of their Q1 production results.

Portfolio Pulse from Benzinga Newsdesk

April 04, 2024 | 2:59 pm

Ford Motor Co (NYSE:F) is delaying the launch of its new three-row electric vehicles in Oakville, Ontario, to 2027 from 2025, citing the need for further market development and advancements in battery technology. The company is also progressing with its Tennessee Electric Vehicle Center for a next-generation electric truck expected in 2026 and plans to begin tool installation at the Ohio Assembly Plant in spring 2025. Ford aims to offer hybrid powertrains across its entire Ford Blue lineup in North America by the end of the decade. In Q1 of 2024, Ford's electric vehicle sales increased by 86%, and hybrid sales rose by 42% year-over-year. The company is working with Unifor to address the impact of the launch delay on its workforce at Oakville. Ford's shares rose by 1.72% to $13.89.

Portfolio Pulse from Shivani Kumaresan

April 04, 2024 | 2:56 pm

FNA

Paragon 28's stock is trading lower following the announcement of their preliminary Q1 net revenue results, indicating a negative market reaction to the financial performance.

Portfolio Pulse from Benzinga Newsdesk

April 04, 2024 | 2:45 pm

ALPN

AQST

FAAS

FNA

GCTS

HIMS

HTZ

PARA

RENT

RGP

SMXT

Lamb Weston Holdings, Inc. (NYSE:LW) reported weak Q3 results, missing earnings and sales estimates, leading to a 17.5% drop in its stock price. Other companies like DigiAsia Corp., GCT Semiconductor Holding, SolarMax Technology, Paragon 28, Resources Connection, Aquestive Therapeutics, Rent the Runway, Paramount Global, Hims & Hers Health, Hertz Global Holdings, and Alpine Immune Sciences also saw significant stock price declines due to various reasons including weak sales, downgrades, and financial filings.

Portfolio Pulse from Avi Kapoor

April 04, 2024 | 2:44 pm

EFTR

MRK

eFFECTOR Therapeutics Inc (EFTR) announced disappointing results from the Phase 2 KICKSTART trial of tomivosertib in combination with Merck & Co Inc's (MRK) Keytruda for non-small cell lung cancer, failing to meet the primary endpoint. The company will discontinue the development of tomivosertib for this indication but plans to focus on developing Zotatifin for breast cancer and continue a trial of tomivosertib in AML. EFTR shares dropped 78.1% to $3.6.

Portfolio Pulse from Vandana Singh

April 04, 2024 | 2:38 pm

Lamb Weston Holdings Inc (NYSE:LW) shares dropped significantly after reporting Q3 FY24 sales of $1.46 billion, missing estimates of $1.645 billion. The decline was attributed to a 16% volume drop, partly due to unfilled orders from transitioning to a new ERP system. Gross profit margin contracted, and adjusted EPS fell short of expectations. The company also lowered its FY24 sales and earnings guidance due to the ERP transition's impact and soft restaurant traffic trends.

Portfolio Pulse from Shivani Kumaresan

April 04, 2024 | 2:35 pm

RIOT

Riot Blockchain, Inc. (RIOT) shares are experiencing an uptick following the announcement of their March Bitcoin production figures, which totaled 425 Bitcoins.

Portfolio Pulse from Benzinga Newsdesk

April 04, 2024 | 2:30 pm

CADL

Candel Therapeutics Inc (NASDAQ:CADL) released updated interim survival data from a phase 2 trial of CAN-2409 plus valacyclovir for pancreatic cancer, showing prolonged survival compared to the control group. The data, presented after eight months of additional follow-up, demonstrated a median overall survival of 28.8 months in the CAN-2409 group versus 12.5 months in the control group. The treatment was well tolerated with no dose-limiting toxicities. Following the news, CADL shares surged 31.70% to $2.21.

Portfolio Pulse from Vandana Singh

April 04, 2024 | 2:24 pm