Streetbeat News

Earnings

PVH

PVH Corp's stock is trading lower due to the company issuing weak guidance for the first quarter.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 11:07 am

GE Vernova, a division of General Electric, has outlined its financial outlook up to 2028, aiming for mid-single digit organic revenue growth, approximately $10 billion in operating profit, a 10% adjusted EBITDA margin, and a free cash flow conversion rate of 90-110%.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 10:45 am

GLD

SPY

USO

On April 1st, U.S. stock markets ended mixed with the Dow and S&P 500 dipping due to concerns over Fed rate cuts timing, influenced by strong manufacturing data raising Treasury yields. The energy sector saw gains with rising crude oil prices, while real estate, healthcare, and utilities sectors declined. Asian and European markets were mixed, with commodities like crude oil and gold reaching new highs. U.S. futures pointed to a lower opening.

Portfolio Pulse from Akanksha Bakshi

April 02, 2024 | 10:44 am

BTBT

CVS

HUM

MSTR

PVH

PVH Corp. reported Q4 earnings surpassing analyst estimates with a significant year-over-year increase, but projected a revenue decrease for FY2024, causing its shares to tumble in pre-market trading. Other stocks like Fractyl Health, GCT Semiconductor, Petco Health, Humana, MicroStrategy, Bit Digital, CVS Health, and Lotus Technology also recorded losses in pre-market trading due to various factors including CMS payment updates, Bitcoin's decline, and upcoming financial reports.

Portfolio Pulse from Avi Kapoor

April 02, 2024 | 10:26 am

ABVX

AIM

ALLG

CALM

GRYP

OCGN

PAYX

PLAY

VEV

Earnings reports for April 2, 2024, include a mix of expected profits and losses across various sectors. Notable companies like Paychex and Cal-Maine Foods anticipate earnings, while others like Allego and AIM ImmunoTech project losses. This diverse set of earnings could indicate sector-specific movements in the market.

Portfolio Pulse from Benzinga Insights

April 02, 2024 | 10:25 am

FXI

TSLA

Tesla reported a 0.2% year-over-year increase in sales of China-made electric vehicles in March, with a total of 89,064 units sold, according to Reuters citing China Passenger Car Association data.

Portfolio Pulse from Charles Gross

April 02, 2024 | 9:15 am

AAPL

Apple Inc. (NASDAQ:AAPL) is at risk of reporting its first revenue and earnings per share (EPS) decline in a decade during the March 2024 quarter, primarily due to a significant drop in iPhone sales in China. Loop Capital analyst Ananda Baruah has lowered Apple's stock target price to $170 from $180, maintaining a 'Hold' rating. The decline in sales is attributed to a 30% year-over-year decrease in iPhone sales in China, amidst a 7% overall decline in the country's smartphone sales. Despite these challenges, upcoming AI developments and the Vision Pro headset sales could potentially boost Apple's stock.

Portfolio Pulse from Rounak Jain

April 02, 2024 | 8:26 am

CALM

CURV

DOMA

PAYX

PLAY

U.S. stocks closed mostly lower with the Dow Jones falling over 200 points despite an improvement in the CNN Money Fear and Greed index, which remained in the 'Greed' zone. Inflation rates and personal spending rose, while U.S. construction spending fell. Torrid Holdings and Doma Holdings saw significant movements with Doma entering a merger to go private. Most S&P 500 sectors closed lower except for communication services and energy. Investors await earnings from Cal-Maine Foods, Dave & Buster's, and Paychex.

Portfolio Pulse from Avi Kapoor

April 02, 2024 | 8:19 am

BTCUSD

Ken Griffin, founder of Citadel, warned investors about modest economic growth and the rising U.S. national debt, emphasizing the irresponsibility of current borrowing practices. He predicts a below-potential economic growth due to a challenging landscape, with net interest spending expected to hit 3.1% of GDP in 2023. Despite these concerns, Griffin sees potential benefits for consumers from falling inflation and rising wages, and expects improvements in fixed-income markets. Citadel's flagship hedge fund gained 15.3% last year, managing about $59 billion.

Portfolio Pulse from Benzinga Neuro

April 02, 2024 | 8:18 am

PLTR

Jim Cramer expressed his bullish stance on Palantir Technologies Inc. (NYSE:PLTR), praising its recent performance and strong presence in the IT defense sector. He highlighted the company's good earnings and its dominance in IT defense, following a lucrative contract with the Defense Information Systems Agency (DISA). Additionally, an analyst from Mizuho maintained a Neutral stance on Palantir but raised the price target from $18 to $21, citing prospects in AI expansion after a $178 million deal with the Army. Palantir's stock closed at $22.86, with a 52-week range of $7.28 to $27.50.

Portfolio Pulse from Benzinga Neuro

April 02, 2024 | 8:13 am