Streetbeat News

Earnings

MU

MVLA

NSYS

In Thursday's pre-market session, several information technology stocks showed significant movement. Notably, Nortech Systems (NSYS) and Micron Technology (MU) experienced upward movements of 23.9% and 16.77%, respectively, following their earnings reports. Conversely, Movella Holdings (MVLA) saw a dramatic decrease of 57.7%. Other stocks also experienced notable changes.

Portfolio Pulse from Benzinga Insights

March 21, 2024 | 1:05 pm

DRI

Darden Restaurants executive announced during a conference call that they expect the Q4 adjusted profit to be in the range of $2.58-$2.68, compared to the estimated $2.63.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 1:05 pm

LINK

Interlink Electronics (NASDAQ:LINK) reported a Q4 EPS of $(0.06), a significant decrease from $0.13 YoY. However, sales increased to $3.54M from $1.61M YoY, marking a 119.62% growth.

Portfolio Pulse from Happy Mohamed

March 21, 2024 | 1:03 pm

PLTR

Palantir Technologies Inc (NYSE:PLTR) shares are trending due to overall market strength after the Federal Reserve's decision to leave rates unchanged with a potential future cut. This, along with strong earnings from Micron, which highlighted the demand for AI servers, is boosting Palantir's stock. Palantir, a leader in the AI space, has seen its stock rise nearly 200% over a year. The company's stock is currently trading above its 200-day moving average, indicating a bullish signal for investors.

Portfolio Pulse from Adam Eckert

March 21, 2024 | 1:02 pm

MU

Micron Technology Inc (NASDAQ:MU) shares surged after reporting Q1 revenue of $5.82 billion, surpassing estimates of $5.342 billion, and a surprise profit of 42 cents per share against expected losses. The company's positive outlook includes Q3 revenue expectations of $6.6 billion and adjusted earnings of 38 to 52 cents per share, driven by strong demand for AI servers and anticipated price hikes for DRAM and NAND products. Analysts have raised price targets, reflecting optimism in Micron's performance and market position.

Portfolio Pulse from Adam Eckert

March 21, 2024 | 1:02 pm

CMPX

Compass Therapeutics (CMPX) reported a Q4 EPS loss of $(0.11), missing the consensus estimate of $(0.09) by 22.22%. This represents a 10% increase in losses compared to the same period last year.

Portfolio Pulse from Happy Mohamed

March 21, 2024 | 1:01 pm

RVLV

Analyst ratings for Revolve Group (RVLV) show a mix of bullish and bearish perspectives with a recent average price target of $18.79, up from $16.62. The company faces challenges with a -0.53% revenue decline and below-average profitability metrics. Despite this, analysts have raised their price targets and ratings, indicating a nuanced view of its potential.

Portfolio Pulse from Benzinga Insights

March 21, 2024 | 1:00 pm

SNDL

SNDL Inc. reported a record net revenue of CA$909 million for 2023, a 28% increase from 2022, and positive free cash flow in the second half of the year. The company, under CEO Zach George's leadership, has seen significant financial and operational improvements, including the acquisition of The Valens Company Inc. SNDL's shares rose 1.31% in pre-market trading following the announcement.

Portfolio Pulse from Jelena Martinovic

March 21, 2024 | 12:57 pm

NXTC

NextCure reported a reduced annual EPS of $(2.25) for FY23 compared to $(2.69) in FY22. The company's cash reserves decreased to $108.3M from $159.9M, primarily due to operational expenses and asset purchases. Research and development expenses dropped to $47.9M, and general and administrative expenses decreased to $19.7M, contributing to a lower net loss of $62.7M for the year.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 12:56 pm

ALAB

AMD

AMZN

INTC

NVDA

Astera Labs Inc (NASDAQ:ALAB), a provider of semiconductor connectivity solutions, surged 72% in its Nasdaq debut, closing at $62.03 and reaching a market cap of $9.5 billion. The company raised $700 million in its IPO, highlighting strong demand for AI technologies. Astera Labs supplies to major tech companies like Nvidia, AMD, Intel, and Amazon, positioning it as a significant player in the AI infrastructure ecosystem. Amazon's strategic investment in Astera Labs further emphasizes its potential in the AI space.

Portfolio Pulse from Surbhi Jain

March 21, 2024 | 12:56 pm