Streetbeat News

Earnings

DPZ

PZZA

Papa John's CEO Rob Lynch is set to depart on April 30, surprising analysts given his role in the company's recovery. BMO Capital Markets analyst Andrew Strelzik lowered Papa John's (PZZA) price target from $90 to $80, citing leadership changes and competitive pressures. The departure raises questions about the company's future initiatives and performance. Despite near-term challenges, the long-term outlook remains positive, with the company seen as undervalued.

Portfolio Pulse from Shivani Kumaresan

March 22, 2024 | 6:27 pm

LULU

NKE

Nike Inc (NYSE:NKE) and Lululemon Athletica (NASDAQ:LULU) both surpassed their latest earnings expectations, yet their shares fell due to pessimistic near-term outlooks. Nike's sales are expected to drop in the first half of the 2025 fiscal year as it shifts its product portfolio, aiming to compete with newer brands by updating its sneaker styles. Lululemon faces a slowdown in demand, particularly in North America, despite strong holiday sales. Both companies are adjusting their strategies amid a challenging macroeconomic environment.

Portfolio Pulse from Upwallstreet

March 22, 2024 | 6:25 pm

RBLX

Recent options trading activity for Roblox (NYSE:RBLX) shows a bearish sentiment among significant investors, with 70% of detected trades being bearish and 30% bullish. The trading activity suggests an expected price range for Roblox's stock between $32.5 and $52.5 over the next three months. The largest trades include both calls and puts, with varying sentiments and strike prices. Roblox, an online video game platform, is currently experiencing a slight decrease in stock price, with an upcoming earnings announcement in 47 days.

Portfolio Pulse from Benzinga Insights

March 22, 2024 | 6:16 pm

AFRM

Affirm Holdings (NASDAQ:AFRM) has seen significant options trading activity, with a bearish sentiment prevailing among big-money investors. Benzinga's options scanner revealed 16 unusual trades, with a split sentiment of 18% bullish and 81% bearish. The focus is on a price band between $32.0 and $50.0. The trading volume and open interest suggest heightened activity in this range. AFRM's current market status shows a slight price decrease and an upcoming earnings announcement in 46 days.

Portfolio Pulse from Benzinga Insights

March 22, 2024 | 6:00 pm

RJF

Analyst ratings for Raymond James Finl (NYSE:RJF) show a mix of sentiments, with recent updates indicating a generally neutral to positive outlook. The 12-month price targets suggest an upward trend, with the current average target at $120.5, marking an 8.48% increase from the previous average of $111.08. Raymond James Financial, a major financial holding company, has shown impressive financial performance with significant revenue growth, high net margin, and strong ROE and ROA, despite a lower growth rate compared to its peers.

Portfolio Pulse from Benzinga Insights

March 22, 2024 | 6:00 pm

FDX

LULU

NKE

NKTX

NVDA

TLT

Stocks slightly retreated in New York's morning session on Friday, with the S&P 500 nearing its best week of 2024 after a dovish Federal Reserve meeting. Nvidia Corp. rallied for the 11th week, while Bitcoin and gold saw declines. The iShares 20+ Year Treasury Bond ETF rose, and major indices showed mixed results. Notable stock movements included Nike's drop due to a revenue decline forecast, FedEx's rise after exceeding earnings expectations and announcing a buyback program, Lululemon's fall despite positive earnings, and Nkarta's decline after price target cuts.

Portfolio Pulse from Piero Cingari

March 22, 2024 | 5:55 pm

NKTX

Nkarta Inc (NASDAQ:NKTX) stock fell 29.4% to $9.17 after announcing the deprioritization of its NKX101 cancer drug program following a review of preliminary safety and response data. The company is redirecting resources to its lead pipeline program, NKX019, for autoimmune disease. Despite initial promising results, the aggregate CR/CRi rate for NKX101 in a clinical trial was lower than expected. Nkarta plans to focus on NKX019, with a study on lupus nephritis set to begin in the first half of 2024. As of December 31, 2023, Nkarta reported having sufficient funds to support operations into 2026.

Portfolio Pulse from Vandana Singh

March 22, 2024 | 5:49 pm

ASO

Truist Securities analyst Joseph Civello reiterated a Buy rating on Academy Sports and Outdoors Inc (NASDAQ:ASO) but lowered the price target from $77 to $75, citing a post-holiday slump and a conservative outlook under new leadership. The company's Q4 FY23 sales and adjusted EPS missed analyst estimates, with sales growing 2.8% year-on-year to $1.794 billion and adjusted EPS at $2.21. The FY comp guidance of down (4%) to +1% reflects the new CEO/CFO's conservative outlook, despite positive signs in the Outdoor category and potential for gross margin improvement.

Portfolio Pulse from Shivani Kumaresan

March 22, 2024 | 5:41 pm

FRSX

JFBR

LULU

NVFY

TCTM

In Friday's intraday session, several consumer discretionary stocks experienced significant movements. Notably, Nova Lifestyle (NVFY) surged by 58.9%, while Lululemon Athletica (LULU) saw a decline of 14.69%. Other stocks such as Jeffs Brands (JFBR), TCTM Kids IT Education (TCTM), and Foresight Autonomous (FRSX) also saw notable gains. Conversely, Lixiang Education Hldg (LXEH), Selina Hospitality (SLNA), and Chijet Motor Co (CJET) were among the losers. The movements were attributed to various factors including quarterly earnings releases.

Portfolio Pulse from Benzinga Insights

March 22, 2024 | 5:31 pm

BACK

BIOL

CUTR

NKTX

VIRI

In Friday's intraday session, several healthcare stocks experienced significant movements. IMAC Holdings, Virios Therapeutics, Regencell Bioscience, Ontrak, Outlook Therapeutics, and Biolase were among the gainers, with IMAC Holdings leading with a 91.5% increase. On the downside, SINTX Techs, Nkarta, Cutera, 180 Life Sciences, Zura Bio, and Sangamo Therapeutics saw notable declines, with SINTX Techs dropping by 30.4%. Notably, Biolase, Nkarta, and Cutera's movements were influenced by their Q4 earnings reports.

Portfolio Pulse from Benzinga Insights

March 22, 2024 | 5:31 pm