Streetbeat News

Earnings

LEDS

SemiLEDs reported its Q2 earnings with a per-share loss of $(0.11), unchanged from the previous year, and a 23.09% decrease in sales to $886.00K from $1.15M YoY.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 8:22 am

General Motors (GM) led in overall U.S. vehicle sales in Q1, surpassing Toyota Motor (TM), despite a sales decline. However, Toyota outperformed GM in the electrification segment, selling significantly more hybrid and electric vehicles. GM lacks hybrid options and focuses on an all-electric future, while Toyota's strategy includes a mix of fuel options, predicting EVs will make up 30% of the U.S. market by 2030.

Portfolio Pulse from Anan Ashraf

April 03, 2024 | 7:38 am

MNOV

MediciNova announced that an abstract detailing the results of a clinical trial of MN-166 in glioblastoma has been accepted for presentation at the 2024 ASCO. The study, titled 'Phase 1b/2a study evaluating the combination of MN-166 (ibudilast) and temozolomide in patients with newly diagnosed and recurrent glioblastoma (GBM)', will be presented during the Rapid Oral Abstract session on Central Nervous System Tumors on June 2, 2024.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 6:45 am

TSLA

Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management, criticized Tesla, Inc. (TSLA) CEO Elon Musk for the company's poor Q1 sales, attributing it to Musk's behavior. Gerber's firm holds 3,000 Tesla shares in its AdvisorShares Gerber Kawasaki ETF (GK), which has a 2.37% portfolio weighting in Tesla. Gerber has become bearish on Tesla, predicting analysts will lower EPS estimates for 2024 and 2025. He called for a new sales strategy and a shakeup of Tesla's board, criticizing its lack of independence and failure to address Musk's behavior. Tesla's stock fell 4.90% to $166.63.

Portfolio Pulse from Shanthi Rexaline

April 03, 2024 | 6:35 am

TSLA

General Motors (GM) reported a 21% drop in EV sales in Q1 2024, with 16,425 units sold, mainly due to the discontinuation of the Chevrolet Bolt. Tesla (TSLA) saw an 8.5% decline in overall sales but a 59.2% increase in its high-end EVs, selling 17,027 units. The EV market overall shows a decline in demand.

Portfolio Pulse from Anan Ashraf

April 03, 2024 | 6:24 am

AYI

CALM

LEVI

VIEW

Acuity Brands, Cal-Maine Foods, Levi Strauss, View, Inc., and BlackBerry Limited are stocks to watch. Acuity Brands is expected to report earnings of $3.25 per share. Cal-Maine Foods reported Q4 earnings beating estimates, causing a 7% stock surge. Levi Strauss is anticipated to report earnings of 21 cents per share. View, Inc. shares plummeted 53.7% after announcing a deal to go private. BlackBerry is expected to report a quarterly loss of 3 cents per share.

Portfolio Pulse from Avi Kapoor

April 03, 2024 | 5:56 am

AYI

Acuity Brands, Inc. (NYSE:AYI) is anticipated to report an increase in Q2 earnings to $3.25 per share from $3.06 the previous year, with projected revenue of $908.75 million. The company raised its quarterly dividend to 15 cents per share and authorized an additional 3 million share repurchase. Shares fell 1.3% to $261.83 recently. Analysts from Baird, Wells Fargo, and Oppenheimer have provided ratings and adjusted price targets for AYI.

Portfolio Pulse from Avi Kapoor

April 03, 2024 | 5:20 am

BBJP

DXJ

EWJ

The au Jibun Bank Japan Services Purchasing Managers' Index (PMI) for March was reported at 54.1, below the estimated 54.9 but above the prior month's 52.9, indicating a continued expansion in the services sector albeit at a slower pace than expected.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 4:13 am

DIS

INTC

TSLA

TSM

VVPR

Tesla, Disney, Intel, TSMC, and VivoPower are the focus of investors today. Tesla's stock fell due to a decline in Q1 deliveries. Disney's stock rose, buoyed by optimism around Bob Iger's strategy. Intel's stock dropped after revealing its foundry business financial framework. TSMC's stock declined slightly, despite a partnership with Intel to boost U.S. production. VivoPower surged after announcing a merger with Cactus Acquisition Corp. 1 Limited.

Portfolio Pulse from Benzinga Neuro

April 03, 2024 | 3:47 am

ASST

Asset Entities (NASDAQ:ASST) reported a Q4 loss of $(0.09) per share with sales totaling $80.86 thousand.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 3:00 am