Streetbeat News

Earnings

MITK

Mitek Systems reported its Q4 and FY23 financial results, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 1:45 pm

HROW

Harrow's stock price declined following the announcement of disappointing Q4 financial results.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 1:43 pm

TIGR

UP Fintech Holding's shares dropped following the announcement of disappointing Q4 results, falling short of market expectations.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 1:41 pm

GIS

General Mills, Inc. (NYSE:GIS) shares rose after reporting Q3 FY24 sales of $5.099 billion, surpassing analyst estimates of $4.962 billion. Despite a 1% sales decline, the company saw organic net sales decrease by 1% but grow 7% on a 2-year compound basis. Adjusted EPS of $1.17 exceeded expectations of $1.05. Gross and operating margins expanded, and the company reaffirmed its FY24 outlook for organic sales growth of -1% to 0% and adjusted EPS growth of 4% to 5% in constant currency.

Portfolio Pulse from Shivani Kumaresan

March 20, 2024 | 1:40 pm

LIVN

LivaNova's shares surged following the announcement of a positive predictive outcome in its OSPREY clinical study for treating obstructive sleep apnea, leading to an early conclusion of enrollment.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 1:38 pm

NVDA

QQQ

SPY

TSLA

Despite fading hopes for a March rate cut by the Federal Reserve, the S&P 500 index remains near record levels, driven by the historic hype around AI. The SPDR S&P 500 ETF (SPY) closely tracks this performance. Adam Kobeissi attributes market resilience to AI's strength, despite the Fed's cautious stance on inflation and rate cuts. Earnings season showed positive results, with significant contributions from tech and AI companies like Nvidia, which added $1 trillion to its market cap. However, Tesla reported slowing demand. The Invesco QQQ Trust (QQQ) also saw a notable gain, outperforming SPY.

Portfolio Pulse from Neil Dennis

March 20, 2024 | 1:22 pm

BRNS

Barinthus Biotherapeutics (NASDAQ:BRNS) reported Q4 earnings, beating estimates with an EPS of $-0.45 against an expected $-0.5. However, revenue decreased by $6.46 million compared to the same period last year. Despite beating EPS estimates last quarter, the company's share price dropped by 7% the following day.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 1:15 pm

TFFP

TFF Pharmaceuticals announced a strategic prioritization of its clinical programs, focusing on the development of Tacrolimus Inhalation Powder (TFF TAC) due to positive Phase 2 data and significant market potential in lung transplant medicine. The company is exploring strategic options for TFF VORI, including partnerships and grants, following positive Phase 2 study results and the Expanded Access Program. A clinical update on both TFF TAC and TFF VORI will be discussed on March 27, 2024.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 1:10 pm

LWAY

Lifeway Foods (NASDAQ:LWAY) reported Q4 earnings, beating estimates with an EPS of $0.26 against the expected $0.21 and a revenue increase of $6.25 million year-over-year. This follows a pattern of surpassing EPS estimates in previous quarters, notably leading to a 39.0% share price increase after last quarter's earnings beat.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 1:10 pm

MODG

PDD

SIG

VMAR

In Wednesday's pre-market session, consumer discretionary stocks saw significant movements. PDD Holdings led the gainers with a 17.6% increase following their Q4 earnings release, while Signet Jewelers experienced the largest drop among the losers, declining by 11.5% also after their Q4 earnings report. Other notable movements included Vision Marine and Topgolf Callaway Brands with substantial gains, and Interactive Strength and Chijet Motor Co among the notable losers.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 1:06 pm