Streetbeat News

Earnings

MRK

Merck & Co (NYSE:MRK) has seen unusual options activity indicating a bullish stance by large investors, with a mix of 55% bullish and 44% bearish sentiment among the trades. The options target a price range of $105.0 to $125.0. Recent analyst ratings have varied, with an average target price of $124.67, but with differing opinions from Cantor Fitzgerald and Societe Generale. The company's stock is currently down by -0.97%, trading at $121.01, with an earnings announcement expected in 36 days.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 6:31 pm

TME

Tencent Music Entertainment Group (NYSE:TME) shares rose after reporting strong Q4 results, with analysts upgrading ratings and price targets. Goldman Sachs upgraded TME to Buy with a price target of $14.00, citing sustained annual music net adds and limited competition. Mizuho Securities and Benchmark also reiterated Buy ratings, highlighting accelerated subscription growth, expanded gross margins, and strategic focus on core music growth. Shares of TME increased by 4.86% to $11.55.

Portfolio Pulse from Priya Nigam

March 20, 2024 | 6:12 pm

SPOT

BofA Securities analyst Jessica Reif Ehrlich raised the price target for Spotify Technology S.A. (NYSE:SPOT) to $315 from $265 and maintained a Buy rating. The optimism is based on expected Q1 FY24 results in line with guidance, potential for a share repurchase program post-new CFO announcement, and sustainable share price momentum driven by subscriber growth and monetization opportunities. Adjustments were made to the first-quarter forecast and CY24 estimates, while CY25 and CY26 forecasts were raised, indicating mid-teens revenue growth.

Portfolio Pulse from Lekha Gupta

March 20, 2024 | 6:10 pm

PAGS

PagSeguro Digital (NYSE:PAGS) has received mixed ratings from 6 analysts, with an upward trend in price targets, indicating a positive outlook. The company, a provider of financial technology solutions in Brazil, shows strong net margin and ROA but lags in ROE and revenue growth compared to peers. Analysts have adjusted their ratings and price targets, reflecting optimism about the company's future performance.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 6:01 pm

BNTX

PFE

BioNTech SE (BNTX) reported a significant drop in revenue and earnings for the fourth quarter, as it shifts focus from COVID-19 vaccines to cancer drug development. Despite a 90% YoY drop in net income for 2023, BioNTech remains optimistic about its oncology pipeline, expecting revenue growth in 2025 and its first oncology launch in 2026. Pfizer Inc (PFE), BioNTech's partner in COVID-19 vaccine development, also reported a 54% decline in vaccine sales and is turning towards oncology.

Portfolio Pulse from Upwallstreet

March 20, 2024 | 5:38 pm

LFCR

TSHA

XTLB

Healthcare stocks experienced significant movements in Wednesday's intraday session. XTL Biopharmaceuticals led the gainers with a 95.8% increase, while Lifecore Biomedical topped the losers, declining by 31.4%. Other notable movers include Etao International, Annovis Bio, and Taysha Gene Therapies, which reported Q4 earnings.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 5:31 pm

AISP

LIDR

SMX

VIAO

WULF

In Wednesday's intraday session, several Information Technology stocks experienced significant movements. Notably, SMX, AEye, Edgio, TeraWulf, Oblong, and Cemtrex saw their stock prices increase, with TeraWulf's rise attributed to its Q4 earnings report. Conversely, Airship AI Holdings, XTI Aerospace, WaveDancer, Semilux International, VIA optronics, and Auddia faced declines in their stock prices.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 5:31 pm

IGC

OTSKF

OTSKY

IGC Pharma Inc (NYSE:IGC) announced positive interim Phase 2 trial results for IGC-AD1, showing significant reduction in Alzheimer's Disease agitation compared to placebo. The trial used the Cohen Mansfield Agitation Inventory for assessment, with notable improvements as early as week two. In contrast, Otsuka Holding Co Ltd's (OTC:OTSKY) (OTC:OTSKF) Rexulti received FDA approval with less pronounced effects in a similar context. IGC's stock dropped 13.80% to $0.33 following the announcement.

Portfolio Pulse from Vandana Singh

March 20, 2024 | 5:21 pm

RYAAY

SPR

Boeing Company (NYSE:BA) expects a significant cash outflow of $4-$4.5 billion in Q1 due to regulatory scrutiny and reduced 737 Max production after a January accident. Full-year free cash flow is projected below expectations. Boeing faces challenges, including a 737 Max 9 fuselage failure and negative commercial aircraft margins. Production rates for the 737 Max will be lower in H1, with an increase expected later in the year. Boeing stopped accepting fuselages from Spirit AeroSystems Holdings Inc (NYSE:SPR) that lack parts or repairs, affecting deliveries to airlines like Ryanair Holdings Plc (NASDAQ:RYAAY). Despite this, Boeing has sufficient reserves for a potential purchase of Spirit Aero.

Portfolio Pulse from Shivani Kumaresan

March 20, 2024 | 5:11 pm

TKC

Turkell Iletisim Hizmetleri (TKC) has set its FY24 financial targets, aiming for high-single-digit revenue growth, an EBITDA margin of around 42%, and an operational capex over sales ratio target of around 23%.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 5:03 pm