Streetbeat News

Earnings

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

ALK

BA

Boeing Co compensated Alaska Air Group Inc with $160 million for the 737-9 MAX groundings' impact on Q1 operations, causing significant financial losses. Despite these challenges, Alaska Air's adjusted pretax profit would have seen an 80% increase over the previous year without these issues. Additional compensation is expected, with the terms undisclosed. The compensation will mainly reduce aircraft assets, affecting EPS expectations. Alaska Air's shares rose by 4.58% to $43.80.

Portfolio Pulse from Shivani Kumaresan

April 04, 2024 | 5:29 pm

ANGO

AngioDynamics Inc. (ANGO) received FDA 510(k) clearance for its AlphaVac F1885 System for pulmonary embolism, expanding treatment options. The APEX-AV study showed significant improvements in patient outcomes. Despite a slight miss in Q3 2024 sales against consensus, the company's pro forma sales showed growth. AngioDynamics provided an upbeat FY2024 financial outlook, expecting sales between $270 million-$275 million and an adjusted EPS of $(0.54)-$(0.58), leading to an 11.9% increase in ANGO shares to $6.81.

Portfolio Pulse from Vandana Singh

April 04, 2024 | 4:53 pm

WYNN

Wynn Resorts, Limited (NASDAQ:WYNN) has been highlighted by Mizuho Securities for its potential upside in market share and EBITDA margins, particularly in Macau. Analyst Ben Chaiken initiated coverage with a Buy rating and a price target of $131, citing better operating leverage at the company's properties and potential for robust growth in Las Vegas. Wynn's ownership of its real estate, excluding Boston, is seen as a differentiator. Shares rose 2.58% to $109.17.

Portfolio Pulse from Priya Nigam

April 04, 2024 | 4:46 pm

SQ

Whale investors have shown a bearish stance on Block (NYSE:SQ), with options trading indicating a sentiment split of 40% bullish and 60% bearish. Significant trading activity suggests a target price range of $67.5 to $100.0 for Block in the next three months. The company, known for its payment services and Cash App, is currently trading at $78.92, with a neutral RSI and an anticipated earnings release in 28 days. Market experts have issued mixed ratings, with a consensus target price of $85.6.

Portfolio Pulse from Benzinga Insights

April 04, 2024 | 4:46 pm

VZ

Options market activity for Verizon Communications (NYSE:VZ) shows a bullish sentiment with 80% of trades being bullish. Significant options trades have targeted a price window of $38.0 to $47.0. Analysts have set an average price target of $42.33, with opinions ranging from Outperform to Neutral. Verizon's current stock price is $43.0, with an upcoming earnings announcement in 18 days.

Portfolio Pulse from Benzinga Insights

April 04, 2024 | 4:46 pm

NIU

Niu Technologies reported a year-over-year increase in Q1 sales volume results, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

April 04, 2024 | 4:40 pm

SPWH

Sportsman's Warehouse Holdings' shares surged following the announcement of their Q4 earnings per share (EPS) results, which exceeded market expectations.

Portfolio Pulse from Benzinga Newsdesk

April 04, 2024 | 4:35 pm

EVX

RDUS

XME

Radius Recycling, Inc. (NASDAQ:RDUS) shares dropped after reporting Q2 2024 results with revenue of $621.06 million, slightly below consensus. Gross margin and adjusted EBITDA significantly declined from the previous year, with ferrous sales volumes and adjusted EBITDA per ferrous ton sold also decreasing. However, average net ferrous sales prices increased, and finished steel sales volumes rose due to strong demand in the Western U.S. The company announced a plan to cut costs and declared a dividend of $0.1875 per share. Exposure to RDUS can also be gained through ETFs EVX and XME.

Portfolio Pulse from Lekha Gupta

April 04, 2024 | 4:25 pm

ANGO

AngioDynamic has revised its FY2024 financial outlook, expecting a gross margin of 52%-54% and an adjusted EPS of $(0.54) to $(0.58), which is below the consensus estimate of $(0.43).

Portfolio Pulse from Benzinga Newsdesk

April 04, 2024 | 4:13 pm