Streetbeat News

Earnings

WFC

Wells Fargo (NYSE:WFC) has seen a significant surge in options activity, with a bullish sentiment from high-rolling investors. Benzinga's options scanner revealed 9 trades, predominantly bullish, targeting a price window of $35.0 to $60.0. The stock is currently up by 0.61% at $57.48, with an anticipated earnings release in 8 days. This unusual options activity could indicate insider knowledge or a strong market move expectation.

Portfolio Pulse from Benzinga Insights

April 04, 2024 | 3:46 pm

KSS

LEVI

M

Levi Strauss & Co (NYSE:LEVI) reported its fiscal first quarter results, showing a significant shift from wholesaler-driven sales to direct-to-consumer (DTC) channels, now accounting for 48% of total sales. Despite an 8% YoY sales drop to $1.56 billion, Levi surpassed LSEG's sales and adjusted earnings estimates. The company swung to a net loss of $10.6 million but raised its full-year profit guidance amidst macroeconomic uncertainties. Levi's focus on DTC sales and the enduring popularity of denim, highlighted by a 19% increase in denim skirts, dresses, and tops sales, positions it well for future growth.

Portfolio Pulse from Upwallstreet

April 04, 2024 | 3:42 pm

ADSK

Financial analysts have observed a bullish trend in Autodesk's (NASDAQ:ADSK) options trading, with 69% of trades being bullish. The focus is on a price range of $220 to $290. The largest trades were bullish calls with expiration in January 2025, aiming for a strike price of $270. Autodesk's stock is currently at $248.88, with a neutral RSI and its next earnings report in 49 days. Analysts from Argus Research and RBC Capital have set target prices at $300 and $320, respectively.

Portfolio Pulse from Benzinga Insights

April 04, 2024 | 3:31 pm

SMPL

Simply Good Foods Company (NASDAQ:SMPL) reported mixed Q2 results with earnings per share of $0.40, beating analyst expectations of $0.38, but missing revenue forecasts with $312.199 million against an expected $316.885 million. Sales grew 5.3% year over year, and adjusted EBITDA increased to $57.8 million from $50.9 million. The company is working on the Atkins revitalization plan for fiscal 2025 and is launching Atkins Strong, a protein shake for weight-loss drug users. FY24 sales are expected to grow around 4%-6%, with adjusted EBITDA increasing 6%-8%. SMPL shares dropped 0.66% to $32.38.

Portfolio Pulse from Nabaparna Bhattacharya

April 04, 2024 | 3:16 pm

UNH

Recent analysis of UnitedHealth Group (UNH) by 11 analysts shows a mix of bullish to indifferent sentiments, with a shift towards more cautious ratings in the last 30 days. The average 12-month price target is now $587.36, down from $624.67, indicating a 5.97% decrease. Analysts' actions range from maintaining to lowering ratings, with price targets adjusted accordingly. UnitedHealth Group, a major health insurer, has shown strong financial performance, including a 14.06% revenue growth and a net margin of 5.78%, but carries a notable debt-to-equity ratio of 0.7.

Portfolio Pulse from Benzinga Insights

April 04, 2024 | 3:00 pm

ON

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

F

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