Streetbeat News

Earnings

MRK

The FDA approved Merck & Co Inc's Winrevair (sotatercept) for pulmonary arterial hypertension, expected to be a key catalyst for Merck's stock in 2024. Cantor Fitzgerald maintains an Overweight rating on MRK with a price target of $135, citing the drug's approval and potential sales impact. Merck's stock has outperformed the S&P 500 year-to-date, and the successful launch of sotatercept could lead to upward earnings revisions and stock multiple expansion. Approximately 40,000 U.S. patients could benefit from sotatercept, with Merck establishing a dedicated business unit for the drug.

Portfolio Pulse from Vandana Singh

March 27, 2024 | 5:38 pm

HOUR

Hour Loop shares are trading lower following the announcement of a year-over-year decrease in its FY23 EPS results.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 5:30 pm

BIDU

Baidu Inc. (NASDAQ:BIDU) experienced a slight decrease in share price to $103.00, marking a 0.64% drop in the current market session. Despite a minor increase over the past month, the stock has fallen by 32.44% over the past year. Baidu's P/E ratio of 13.45, compared to the Interactive Media & Services industry average of 67.23, suggests it may be undervalued or expected to underperform. Investors are advised to consider the P/E ratio alongside other financial metrics and qualitative analysis for a comprehensive investment decision.

Portfolio Pulse from Benzinga Insights

March 27, 2024 | 5:30 pm

IRIX

IRIDEX shares are trading higher following the announcement of their Q4 financial results.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 5:29 pm

KAVL

Kaival Brands Innovations Group's shares are trading lower following the announcement of their Q1 financial results.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 5:29 pm

AADR

GREK

TNP

Tsakos Energy Navigation Ltd (NYSE:TNP) reported Q4 FY23 Voyage revenue of $220.2 million, surpassing consensus estimates but down from the previous year. EPS was $0.85, below last year's $3.17 and the consensus of $1.72. The company operated six fewer vessels than in 2022, impacting its adjusted EBITDA, which was $124 million compared to $159 million in the prior year. Fleet utilization increased to 98.3%, and the average daily TCE rate per vessel was $35,565. TNP announced a semi-annual dividend of $0.60 per share for June 2024, double the amount from 2023. Additionally, TNP has contracted to build a new suezmax DP2 Shuttle Tanker for delivery in 2026. TNP shares dropped 0.39% to $25.51. Investors can also gain exposure through AADR and GREK ETFs.

Portfolio Pulse from Lekha Gupta

March 27, 2024 | 5:24 pm

PDSB

PDS Biotechnology shares are trading lower following the announcement of their Q4 financial results.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 5:20 pm

RVYL

Ryvyl's stock price has declined following the announcement of their Q4 earnings per share (EPS) results, which fell short of market expectations.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 5:19 pm

KOD

Kodiak Sciences (NASDAQ:KOD) is anticipated to report a Q4 earnings per share (EPS) of $-0.77 on March 28, 2024. Analysts and investors are keen on whether the company will surpass this estimate and provide positive guidance for the next quarter. Historically, Kodiak Sciences has shown a mixed performance in beating EPS estimates, with share price reactions varying accordingly. The stock has seen a 17.83% increase over the last 52 weeks, trading at $7.1 as of March 26.

Portfolio Pulse from Benzinga Insights

March 27, 2024 | 5:02 pm

PEGY

Pineapple Energy (NASDAQ:PEGY) is scheduled to release its quarterly earnings report on Thursday, 2024-03-28, with analysts expecting an EPS of $0.00. The company's past earnings performance shows a pattern of not meeting EPS estimates, leading to significant share price movements. Shares of Pineapple Energy have significantly declined over the last year, trading at $0.063 as of March 26, marking a 95.75% decrease over the 52-week period.

Portfolio Pulse from Benzinga Insights

March 27, 2024 | 5:02 pm